Matador Resources (NYSE:MTDR) Upgraded to “Outperform” at Wolfe Research

Wolfe Research upgraded shares of Matador Resources (NYSE:MTDR) from a peer perform rating to an outperform rating in a research note released on Friday morning, Marketbeat.com reports. Wolfe Research currently has $72.00 price target on the energy company’s stock.

A number of other research firms also recently weighed in on MTDR. Royal Bank of Canada reiterated an “outperform” rating and set a $70.00 price target on shares of Matador Resources in a research note on Friday, December 6th. Benchmark reiterated a “buy” rating and set a $62.00 target price on shares of Matador Resources in a research report on Wednesday, October 23rd. Truist Financial cut their price target on shares of Matador Resources from $86.00 to $75.00 and set a “buy” rating for the company in a research note on Monday, September 30th. JPMorgan Chase & Co. lowered their price objective on Matador Resources from $77.00 to $71.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 30th. Finally, Mizuho decreased their price target on Matador Resources from $74.00 to $73.00 and set an “outperform” rating on the stock in a research note on Monday, December 16th. One research analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $74.21.

Matador Resources Stock Up 1.7 %

NYSE MTDR opened at $59.07 on Friday. Matador Resources has a twelve month low of $47.15 and a twelve month high of $71.08. The stock has a market cap of $7.37 billion, a PE ratio of 7.82 and a beta of 3.24. The firm has a 50-day simple moving average of $56.30 and a 200 day simple moving average of $55.94. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.84 and a current ratio of 0.88.

Matador Resources (NYSE:MTDR) last posted its quarterly earnings results on Tuesday, October 22nd. The energy company reported $1.89 EPS for the quarter, beating the consensus estimate of $1.78 by $0.11. Matador Resources had a return on equity of 20.01% and a net margin of 27.45%. The firm had revenue of $770.20 million during the quarter, compared to analysts’ expectations of $836.69 million. During the same quarter in the prior year, the firm posted $1.86 EPS. The company’s revenue for the quarter was up 9.8% on a year-over-year basis. On average, research analysts forecast that Matador Resources will post 7.49 EPS for the current year.

Matador Resources Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Friday, November 15th were paid a $0.25 dividend. The ex-dividend date was Friday, November 15th. This is an increase from Matador Resources’s previous quarterly dividend of $0.20. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.69%. Matador Resources’s payout ratio is currently 13.25%.

Insider Activity

In other news, EVP William Thomas Elsener purchased 800 shares of the business’s stock in a transaction dated Friday, December 13th. The shares were acquired at an average price of $56.60 per share, with a total value of $45,280.00. Following the completion of the purchase, the executive vice president now directly owns 102,964 shares of the company’s stock, valued at $5,827,762.40. The trade was a 0.78 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Glenn W. Stetson acquired 1,000 shares of the stock in a transaction that occurred on Wednesday, October 30th. The stock was purchased at an average price of $51.33 per share, with a total value of $51,330.00. Following the completion of the transaction, the executive vice president now owns 85,935 shares of the company’s stock, valued at approximately $4,411,043.55. This trade represents a 1.18 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased 4,285 shares of company stock valued at $232,849 over the last three months. 6.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Matador Resources

Several large investors have recently bought and sold shares of MTDR. Franklin Resources Inc. raised its position in shares of Matador Resources by 12.0% during the 3rd quarter. Franklin Resources Inc. now owns 1,008,421 shares of the energy company’s stock valued at $54,122,000 after acquiring an additional 107,827 shares during the last quarter. Loomis Sayles & Co. L P increased its holdings in Matador Resources by 16.8% in the third quarter. Loomis Sayles & Co. L P now owns 455,662 shares of the energy company’s stock valued at $22,519,000 after purchasing an additional 65,487 shares during the last quarter. Stifel Financial Corp lifted its stake in Matador Resources by 81.2% in the third quarter. Stifel Financial Corp now owns 30,304 shares of the energy company’s stock valued at $1,498,000 after buying an additional 13,583 shares during the period. HITE Hedge Asset Management LLC bought a new position in Matador Resources during the third quarter worth about $10,526,000. Finally, Dynamic Technology Lab Private Ltd grew its position in shares of Matador Resources by 194.0% during the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 16,534 shares of the energy company’s stock worth $817,000 after buying an additional 10,910 shares during the period. 91.98% of the stock is currently owned by institutional investors and hedge funds.

Matador Resources Company Profile

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.