Matador Resources’ (MTDR) “Buy” Rating Reiterated at Benchmark

Benchmark restated their buy rating on shares of Matador Resources (NYSE:MTDR) in a research note issued to investors on Wednesday, Benzinga reports. They currently have a $62.00 price objective on the energy company’s stock.

Several other equities research analysts have also issued reports on MTDR. TD Cowen boosted their price target on shares of Matador Resources from $85.00 to $87.00 and gave the company a buy rating in a report on Wednesday. Stephens began coverage on shares of Matador Resources in a report on Friday, June 21st. They issued an overweight rating and a $83.00 target price on the stock. Wolfe Research began coverage on shares of Matador Resources in a report on Thursday, July 18th. They issued a peer perform rating on the stock. KeyCorp upped their target price on shares of Matador Resources from $71.00 to $76.00 and gave the stock an overweight rating in a report on Monday, April 22nd. Finally, JPMorgan Chase & Co. upped their target price on shares of Matador Resources from $76.00 to $77.00 and gave the stock an overweight rating in a report on Thursday, April 11th. Two investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average price target of $78.08.

Matador Resources Trading Down 0.4 %

Shares of MTDR stock opened at $61.44 on Wednesday. Matador Resources has a 1 year low of $51.72 and a 1 year high of $71.08. The firm’s fifty day simple moving average is $60.27 and its 200 day simple moving average is $61.29. The firm has a market capitalization of $7.67 billion, a P/E ratio of 8.42 and a beta of 3.29. The company has a current ratio of 0.86, a quick ratio of 0.84 and a debt-to-equity ratio of 0.41.

Matador Resources (NYSE:MTDR) last announced its earnings results on Tuesday, July 23rd. The energy company reported $2.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.76 by $0.29. The business had revenue of $847.14 million for the quarter, compared to analyst estimates of $822.55 million. Matador Resources had a net margin of 29.01% and a return on equity of 21.12%. Matador Resources’s revenue was up 32.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.42 earnings per share. As a group, sell-side analysts predict that Matador Resources will post 7.74 EPS for the current year.

Matador Resources Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 5th. Investors of record on Thursday, August 15th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $0.80 annualized dividend and a yield of 1.30%. Matador Resources’s dividend payout ratio (DPR) is 10.96%.

Insider Buying and Selling

In other Matador Resources news, EVP Bryan A. Erman bought 1,750 shares of the business’s stock in a transaction on Friday, June 14th. The shares were bought at an average cost of $55.90 per share, for a total transaction of $97,825.00. Following the transaction, the executive vice president now owns 1,750 shares in the company, valued at approximately $97,825. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 6.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in MTDR. Goldman Sachs Group Inc. lifted its position in Matador Resources by 31.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,206,041 shares of the energy company’s stock valued at $125,435,000 after purchasing an additional 531,504 shares during the period. Element Capital Management LLC acquired a new position in Matador Resources during the 1st quarter valued at about $28,572,000. Public Employees Retirement Association of Colorado lifted its position in Matador Resources by 14,874.4% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 427,520 shares of the energy company’s stock valued at $24,309,000 after purchasing an additional 424,665 shares during the period. Wellington Management Group LLP lifted its position in Matador Resources by 44.8% during the 4th quarter. Wellington Management Group LLP now owns 1,065,291 shares of the energy company’s stock valued at $60,572,000 after purchasing an additional 329,522 shares during the period. Finally, Principal Financial Group Inc. increased its stake in shares of Matador Resources by 38.5% in the 1st quarter. Principal Financial Group Inc. now owns 1,028,997 shares of the energy company’s stock valued at $68,706,000 after acquiring an additional 285,954 shares during the last quarter. 91.98% of the stock is currently owned by institutional investors and hedge funds.

About Matador Resources

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.