Matador Resources (MTDR) – Analysts’ Recent Ratings Changes

A number of research firms have changed their ratings and price targets for Matador Resources (NYSE: MTDR):

• 10/21/2024 – Matador Resources had its price target raised by analysts at Stephens from $76.00 to $78.00. They now have an “overweight” rating on the stock.
• 10/16/2024 – Matador Resources had its price target lowered by analysts at KeyCorp from $76.00 to $72.00. They now have an “overweight” rating on the stock.
• 10/4/2024 – Matador Resources had its price target raised by analysts at BMO Capital Markets from $75.00 to $78.00. They now have an “outperform” rating on the stock.
• 10/1/2024 – Matador Resources had its price target lowered by analysts at Wells Fargo & Company from $89.00 to $87.00. They now have an “overweight” rating on the stock.
• 9/30/2024 – Matador Resources had its price target lowered by analysts at Truist Financial Co. from $86.00 to $75.00. They now have a “buy” rating on the stock.
• 9/27/2024 – Matador Resources had its price target raised by analysts at Stephens from $74.00 to $76.00. They now have an “overweight” rating on the stock.
• 9/27/2024 – Matador Resources had its “outperform” rating reaffirmed by analysts at Royal Bank of Canada. They now have a $75.00 price target on the stock.
• 9/20/2024 – Matador Resources had its “outperform” rating reaffirmed by analysts at Royal Bank of Canada. They now have a $75.00 price target on the stock.
• 9/16/2024 – Matador Resources had its price target lowered by analysts at Mizuho from $85.00 to $74.00. They now have an “outperform” rating on the stock.
• 9/12/2024 – Matador Resources had its price target lowered by analysts at JPMorgan Chase & Co. from $83.00 to $76.00. They now have an “overweight” rating on the stock.

Matador Resources Trading Down 1.0 %

Shares of Matador Resources stock traded down $0.50 during midday trading on Tuesday, reaching $50.31. The company had a trading volume of 1,985,457 shares, compared to its average volume of 1,503,126. The stock has a fifty day moving average price of $53.14 and a 200 day moving average price of $58.55. 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 fifty-two week low of $47.15 and a fifty-two week high of $71.08. The firm has a market cap of $6.28 billion, a PE ratio of 6.89 and a beta of 3.26.

Matador Resources (NYSE:MTDR) last posted its quarterly 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 firm had revenue of $847.14 million for the quarter, compared to analysts’ expectations of $822.55 million. Matador Resources had a return on equity of 21.12% and a net margin of 29.01%. The company’s revenue for the quarter was up 32.8% compared to the same quarter last year. During the same period in the prior year, the business earned $1.42 EPS. On average, equities analysts anticipate that Matador Resources will post 7.4 earnings per share for the current year.

Matador Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.25 per share. The ex-dividend date is Friday, November 15th. This is a boost from Matador Resources’s previous quarterly dividend of $0.20. This represents a $1.00 annualized dividend and a yield of 1.99%. Matador Resources’s dividend payout ratio (DPR) is 13.70%.

Insider Buying and Selling at Matador Resources

In other news, CEO Joseph Wm Foran purchased 2,500 shares of the business’s stock in a transaction dated Friday, September 6th. The stock was bought at an average price of $51.47 per share, for a total transaction of $128,675.00. Following the purchase, the chief executive officer now owns 37,751 shares of the company’s stock, valued at $1,943,043.97. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Matador Resources news, CAO Robert T. Macalik purchased 500 shares of the firm’s stock in a transaction on Friday, September 6th. The shares were purchased at an average cost of $50.25 per share, with a total value of $25,125.00. Following the completion of the purchase, the chief accounting officer now owns 29,800 shares of the company’s stock, valued at $1,497,450. The trade was a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Joseph Wm Foran acquired 2,500 shares of Matador Resources stock in a transaction dated Friday, September 6th. The shares were bought at an average cost of $51.47 per share, for a total transaction of $128,675.00. Following the completion of the purchase, the chief executive officer now directly owns 37,751 shares of the company’s stock, valued at approximately $1,943,043.97. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 12,300 shares of company stock worth $634,615. Insiders own 6.10% of the company’s stock.

Hedge Funds Weigh In On Matador Resources

A number of large investors have recently bought and sold shares of MTDR. Essex Investment Management Co. LLC increased its stake in shares of Matador Resources by 0.5% during the first quarter. Essex Investment Management Co. LLC now owns 37,532 shares of the energy company’s stock valued at $2,506,000 after buying an additional 169 shares during the period. Securian Asset Management Inc. grew its holdings 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 acquiring an additional 170 shares during the period. Raymond James Trust N.A. raised its position in shares of Matador Resources by 3.6% in the 2nd quarter. Raymond James Trust N.A. now owns 5,714 shares of the energy company’s stock worth $341,000 after acquiring an additional 198 shares in the last quarter. Covestor Ltd lifted its stake in shares of Matador Resources by 121.4% in 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 during the period. Finally, Fifth Third Bancorp boosted its position in shares of Matador Resources by 16.6% during the second 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 in the last quarter. 91.98% of the stock is owned by hedge funds and other institutional investors.

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.