Matador Resources (NYSE:MTDR) Price Target Raised to $78.00

07 Oct 2024, 02:46 by Amy Steele · The Cerbat Gem

Matador Resources (NYSE:MTDR – Free Report) had its price target upped by BMO Capital Markets from $75.00 to $78.00 in a report issued on Friday, Benzinga reports. BMO Capital Markets currently has an outperform rating on the energy company’s stock.

MTDR has been the subject of a number of other research reports. JPMorgan Chase & Co. reduced their target price on Matador Resources from $83.00 to $76.00 and set an overweight rating for the company in a research note on Thursday, September 12th. Truist Financial lowered their price target on shares of Matador Resources from $86.00 to $75.00 and set a buy rating on the stock in a report on Monday, September 30th. Wells Fargo & Company dropped their price objective on Matador Resources from $89.00 to $87.00 and set an overweight rating on the stock in a report on Tuesday, October 1st. TD Cowen boosted their target price on shares of Matador Resources from $85.00 to $87.00 and gave the stock a buy rating in a research note on Wednesday, July 24th. Finally, Capital One Financial raised Matador Resources from an equal weight rating to an overweight rating and increased their target price for the company from $80.00 to $84.00 in a report on Thursday, July 25th. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and an average target price of $75.85.

View Our Latest Stock Report on MTDR

Matador Resources Price Performance

MTDR opened at $54.08 on Friday. The company has a market capitalization of $6.75 billion, a price-to-earnings ratio of 7.41 and a beta of 3.26. The company has a current ratio of 0.86, a quick ratio of 0.82 and a debt-to-equity ratio of 0.41. Matador Resources has a 12-month low of $47.15 and a 12-month high of $71.08. The business’s fifty day simple moving average is $53.97 and its 200-day simple moving average is $59.68.

Matador Resources (NYSE:MTDR – Get Free Report) last released its quarterly earnings results on Tuesday, July 23rd. The energy company reported $2.05 EPS for the quarter, beating the consensus estimate of $1.76 by $0.29. Matador Resources had a net margin of 29.01% and a return on equity of 21.12%. The business had revenue of $847.14 million during the quarter, compared to analyst estimates of $822.55 million. During the same period in the prior year, the firm posted $1.42 earnings per share. The company’s quarterly revenue was up 32.8% on a year-over-year basis. On average, equities research analysts anticipate that Matador Resources will post 7.63 earnings per share for the current fiscal year.

Matador Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Thursday, August 15th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.48%. The ex-dividend date of this dividend was Thursday, August 15th. Matador Resources’s payout ratio is currently 10.96%.

Insider Buying and Selling

In other news, CEO Joseph Wm Foran acquired 2,000 shares of Matador Resources stock in a transaction dated Friday, August 2nd. The shares were acquired at an average cost of $55.96 per share, for a total transaction of $111,920.00. Following the acquisition, the chief executive officer now owns 35,251 shares of the company’s stock, valued at $1,972,645.96. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CAO Robert T. Macalik bought 500 shares of Matador Resources stock in a transaction dated Friday, September 6th. The stock was acquired at an average cost of $50.25 per share, with a total value of $25,125.00. Following the acquisition, the chief accounting officer now owns 29,800 shares of the company’s stock, valued at approximately $1,497,450. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Joseph Wm Foran acquired 2,000 shares of the firm’s stock in a transaction dated Friday, August 2nd. The stock was purchased at an average cost of $55.96 per share, with a total value of $111,920.00. Following the completion of the acquisition, the chief executive officer now directly owns 35,251 shares of the company’s stock, valued at approximately $1,972,645.96. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders purchased 12,300 shares of company stock valued at $634,615 in the last three months. 6.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Denver PWM LLC purchased a new stake in shares of Matador Resources during the 2nd quarter worth $27,000. Covestor Ltd lifted its stake in shares of Matador Resources by 121.4% during the first quarter. Covestor Ltd now owns 414 shares of the energy company’s stock valued at $28,000 after buying an additional 227 shares during the period. Rise Advisors LLC acquired a new stake in shares of Matador Resources during the first quarter worth $34,000. Quarry LP grew its holdings in Matador Resources by 47.5% in the 2nd quarter. Quarry LP now owns 779 shares of the energy company’s stock valued at $46,000 after buying an additional 251 shares during the period. Finally, Advisors Asset Management Inc. grew its holdings in Matador Resources by 191.8% in the first quarter. Advisors Asset Management Inc. now owns 709 shares of the energy company’s stock valued at $47,000 after purchasing an additional 466 shares during the period. Institutional investors and hedge funds own 91.98% of the company’s stock.

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