Matador Resources (NYSE:MTDR) Stock Moved Up to Strong-Buy by Wall Street Zen

by · The Markets Daily

Wall Street Zen upgraded shares of Matador Resources (NYSE:MTDR – Free Report) from a buy rating to a strong-buy rating in a report released on Saturday,Wall Street Zen reports.

Several other equities research analysts have also weighed in on MTDR. Citigroup dropped their price objective on shares of Matador Resources from $68.00 to $60.00 and set a “buy” rating on the stock in a research note on Tuesday, August 11th. Wells Fargo & Company upgraded Matador Resources from an “equal weight” rating to an “overweight” rating and dropped their price target for the stock from $79.00 to $77.00 in a research report on Wednesday, September 2nd. UBS Group boosted their price objective on Matador Resources from $56.00 to $64.00 and gave the company a “neutral” rating in a research report on Monday, September 14th. Weiss Ratings downgraded Matador Resources from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, September 4th. Finally, KeyCorp increased their target price on Matador Resources from $68.00 to $73.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 15th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $66.80.

View Our Latest Stock Analysis on Matador Resources

Matador Resources Price Performance

Shares of NYSE MTDR opened at $51.50 on Friday. The firm has a market capitalization of $6.37 billion, a P/E ratio of 8.83 and a beta of 0.79. Matador Resources has a one year low of $37.14 and a one year high of $66.84. The company’s fifty day moving average is $54.75 and its two-hundred day moving average is $55.82. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.62 and a current ratio of 0.65.

Matador Resources (NYSE:MTDR – Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The energy company reported $2.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.08 by $0.53. Matador Resources had a net margin of 19.85% and a return on equity of 13.18%. The company had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.06 billion. During the same period last year, the company earned $1.53 EPS. The firm’s revenue for the quarter was up 32.5% compared to the same quarter last year. Analysts forecast that Matador Resources will post 7.39 EPS for the current fiscal year.

Matador Resources Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 8th. Investors of record on Monday, August 10th were paid a $0.3750 dividend. This represents a $1.50 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date was Monday, August 10th. Matador Resources’s dividend payout ratio is presently 25.73%.

Insiders Place Their Bets

In other news, CFO Christopher Calvert bought 2,500 shares of the company’s stock in a transaction that occurred on Thursday, August 27th. The stock was acquired at an average price of $56.64 per share, for a total transaction of $141,600.00. Following the transaction, the chief financial officer directly owned 44,000 shares of the company’s stock, valued at $2,492,160. This trade represents a 6.02% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Joseph Foran bought 10,000 shares of the firm’s stock in a transaction dated Wednesday, August 12th. The shares were acquired at an average price of $52.16 per share, for a total transaction of $521,600.00. Following the acquisition, the chief executive officer directly owned 25,617 shares of the company’s stock, valued at approximately $1,336,182.72. The trade was a 64.03% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired a total of 23,144 shares of company stock worth $1,211,793 over the last quarter. Company insiders own 5.90% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of MTDR. Great Lakes Advisors LLC bought a new position in Matador Resources in the second quarter valued at about $605,000. Hsbc Holdings PLC increased its stake in shares of Matador Resources by 935.4% in the 2nd quarter. Hsbc Holdings PLC now owns 56,096 shares of the energy company’s stock valued at $2,824,000 after acquiring an additional 50,678 shares in the last quarter. Quantbot Technologies LP acquired a new position in shares of Matador Resources during the second quarter worth approximately $3,682,000. BlackRock Inc. bought a new position in shares of Matador Resources in the second quarter valued at $573,936,000. Finally, Morningstar Investment Management LLC acquired a new stake in shares of Matador Resources in the 1st quarter worth about $2,630,000. 91.98% of the stock is currently owned by institutional investors and hedge funds.

About Matador Resources

(Get Free Report)

Matador Resources Company is an independent energy company engaged in the exploration, development, production and acquisition of oil, natural gas and natural gas liquids. The company focuses primarily on unconventional, horizontal drilling and development activities in the United States.

Matador’s principal operations are concentrated in the Delaware Basin, a sub-basin of the Permian Basin in southeastern New Mexico and West Texas. Its activities include drilling and completing wells, producing hydrocarbons, and managing mineral and leasehold interests associated with its development programs.

Through its midstream operations, including San Mateo Midstream, Matador also provides gathering, processing, transportation and water-handling services that support oil and natural gas production in the Delaware Basin.

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