Matador Resources (NYSE:MTDR) Earns Buy Rating from Benchmark

by · The Markets Daily

Benchmark reiterated their buy rating on shares of Matador Resources (NYSE:MTDR – Free Report) in a report issued on Wednesday morning, Benzinga reports. They currently have a $62.00 price target on the energy company’s stock.

A number of other analysts also recently commented on the company. Wolfe Research assumed coverage on Matador Resources in a research note on Thursday, July 18th. They issued a “peer perform” rating on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $75.00 price target on shares of Matador Resources in a research report on Friday, September 27th. Truist Financial reduced their price objective on shares of Matador Resources from $86.00 to $75.00 and set a “buy” rating for the company in a research report on Monday, September 30th. Wells Fargo & Company dropped their target price on shares of Matador Resources from $89.00 to $87.00 and set an “overweight” rating on the stock in a report on Tuesday, October 1st. Finally, TD Cowen increased their target price on shares of Matador Resources from $85.00 to $87.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $75.31.

Read Our Latest Stock Analysis on MTDR

Matador Resources Stock Down 1.1 %

MTDR opened at $51.81 on Wednesday. The stock has a market cap of $6.47 billion, a P/E ratio of 6.86 and a beta of 3.26. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.86 and a quick ratio of 0.82. Matador Resources has a 12 month low of $47.15 and a 12 month high of $71.08. The stock’s 50 day moving average price is $52.74 and its 200 day moving average price is $58.20.

Matador Resources (NYSE:MTDR – Get Free Report) last posted its quarterly earnings data on Tuesday, October 22nd. The energy company reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.78 by $0.11. Matador Resources had a net margin of 27.45% and a return on equity of 20.63%. The business had revenue of $770.20 million for the quarter, compared to analyst estimates of $836.69 million. During the same quarter last year, the business earned $1.86 earnings per share. The business’s revenue for the quarter was up 9.8% on a year-over-year basis. As a group, research analysts predict that Matador Resources will post 7.41 earnings per share for the current year.

Matador Resources Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 15th will be issued a dividend of $0.25 per share. This is an increase from Matador Resources’s previous quarterly dividend of $0.20. The ex-dividend date is Friday, November 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.93%. Matador Resources’s payout ratio is currently 10.60%.

Insider Buying and Selling

In other Matador Resources news, CAO Robert T. Macalik bought 500 shares of the stock in a transaction on Friday, August 2nd. The shares were bought at an average price of $54.50 per share, with a total value of $27,250.00. Following the purchase, the chief accounting officer now directly owns 29,300 shares in the company, valued at $1,596,850. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CEO Joseph Wm Foran acquired 2,000 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The stock was acquired at an average cost of $55.96 per share, for a total transaction of $111,920.00. Following the completion of the acquisition, the chief executive officer now owns 35,251 shares in the company, valued at approximately $1,972,645.96. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Robert T. Macalik acquired 500 shares of Matador Resources stock in a transaction that occurred on Friday, August 2nd. The shares were purchased at an average cost of $54.50 per share, with a total value of $27,250.00. Following the transaction, the chief accounting officer now owns 29,300 shares of the company’s stock, valued at approximately $1,596,850. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 12,300 shares of company stock valued at $634,615. Corporate insiders own 6.10% of the company’s stock.

Institutional Investors Weigh In On Matador Resources

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Essex Investment Management Co. LLC increased its holdings in Matador Resources by 0.5% in the first quarter. Essex Investment Management Co. LLC now owns 37,532 shares of the energy company’s stock worth $2,506,000 after buying an additional 169 shares during the last quarter. Securian Asset Management Inc. increased its stake in shares of Matador Resources by 1.9% during the 2nd quarter. Securian Asset Management Inc. now owns 9,255 shares of the energy company’s stock worth $552,000 after purchasing an additional 170 shares during the last quarter. Raymond James Trust N.A. raised its holdings in shares of Matador Resources by 3.6% during the 2nd quarter. Raymond James Trust N.A. now owns 5,714 shares of the energy company’s stock valued at $341,000 after purchasing an additional 198 shares in the last quarter. Covestor Ltd raised its holdings in shares of Matador Resources by 121.4% during the 1st quarter. Covestor Ltd now owns 414 shares of the energy company’s stock valued at $28,000 after purchasing an additional 227 shares in the last quarter. Finally, Fifth Third Bancorp lifted its stake in shares of Matador Resources by 16.6% in the 2nd quarter. Fifth Third Bancorp now owns 1,709 shares of the energy company’s stock valued at $102,000 after purchasing an additional 243 shares during the last quarter. 91.98% of the stock is owned by hedge funds and other institutional investors.

Matador Resources Company Profile

(Get Free Report)

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.

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