Matador Resources (MTDR) to Issue Quarterly Dividend of $0.31 on March 14th

Matador Resources (NYSE:MTDR) declared a quarterly dividend on Tuesday, February 18th, Wall Street Journal reports. Shareholders of record on Friday, February 28th will be paid a dividend of 0.3125 per share by the energy company on Friday, March 14th. This represents a $1.25 dividend on an annualized basis and a yield of 2.39%. The ex-dividend date is Friday, February 28th. This is a positive change from Matador Resources’s previous quarterly dividend of $0.25.

Matador Resources has increased its dividend by an average of 89.5% annually over the last three years. Matador Resources has a payout ratio of 11.6% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Matador Resources to earn $8.62 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 11.6%.

Matador Resources Stock Performance

Shares of MTDR stock opened at $52.27 on Wednesday. The company has a current ratio of 0.93, a quick ratio of 0.84 and a debt-to-equity ratio of 0.61. The company has a market cap of $6.52 billion, a PE ratio of 7.37 and a beta of 3.22. The business’s fifty day simple moving average is $58.05 and its 200-day simple moving average is $55.79. Matador Resources has a 12-month low of $47.15 and a 12-month high of $71.08.

Matador Resources (NYSE:MTDR) last announced its quarterly earnings data on Tuesday, February 18th. The energy company reported $1.83 EPS for the quarter, missing the consensus estimate of $1.88 by ($0.05). The company had revenue of $970.37 million during the quarter, compared to analysts’ expectations of $967.10 million. Matador Resources had a net margin of 25.26% and a return on equity of 18.52%. Analysts expect that Matador Resources will post 8.53 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Wolfe Research raised shares of Matador Resources from a “peer perform” rating to an “outperform” rating and set a $72.00 price objective on the stock in a report on Friday, January 3rd. Stephens boosted their price target on Matador Resources from $78.00 to $80.00 and gave the company an “overweight” rating in a research note on Friday, December 6th. Benchmark restated a “buy” rating and issued a $62.00 price objective on shares of Matador Resources in a research note on Friday, January 17th. Wells Fargo & Company raised their price target on shares of Matador Resources from $87.00 to $91.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $70.00 price objective on shares of Matador Resources in a research note on Wednesday, January 15th. One investment analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $75.14.

Insider Buying and Selling at Matador Resources

In other Matador Resources news, EVP William Thomas Elsener acquired 800 shares of the stock in a transaction that occurred on Friday, December 13th. The stock was bought at an average cost of $56.60 per share, for a total transaction of $45,280.00. Following the completion of the transaction, the executive vice president now owns 102,964 shares of the company’s stock, valued at approximately $5,827,762.40. The trade was a 0.78 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Joseph Wm Foran bought 6,000 shares of Matador Resources stock in a transaction on Friday, February 21st. The stock was acquired at an average price of $53.94 per share, for a total transaction of $323,640.00. Following the transaction, the chief executive officer now directly owns 39,379 shares of the company’s stock, valued at approximately $2,124,103.26. This trade represents a 17.98 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 13,880 shares of company stock worth $753,949. Insiders own 6.10% of the company’s stock.

Matador Resources Company Profile

Matador Resources Company, an independent energy company, engages in the exploration, development, production, and acquisition of oil and natural gas resources in the United States. It operates through two segments, Exploration and Production; and Midstream. The company primarily holds interests in the Wolfcamp and Bone Spring plays in the Delaware Basin in Southeast New Mexico and West Texas.