Matador Resources (NYSE:MTDR) Receives Average Recommendation of “Buy” from Brokerages

Matador Resources (NYSE:MTDR) has received a consensus recommendation of “Buy” from the twelve analysts that are presently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a hold recommendation, nine have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $36.30.

MTDR has been the topic of a number of analyst reports. Zacks Investment Research raised Matador Resources from a “hold” rating to a “strong-buy” rating and set a $37.00 price target on the stock in a research report on Tuesday, June 29th. Truist Securities boosted their price target on Matador Resources from $43.00 to $50.00 and gave the stock a “buy” rating in a research report on Thursday, July 1st. Truist boosted their price target on Matador Resources from $43.00 to $50.00 and gave the stock a “buy” rating in a research report on Thursday, July 1st. They noted that the move was a valuation call. Raymond James reissued an “outperform” rating and issued a $30.69 price target (down from $36.00) on shares of Matador Resources in a research report on Tuesday, July 27th. Finally, MKM Partners raised Matador Resources from a “neutral” rating to a “buy” rating and upped their price objective for the company from $34.00 to $40.00 in a research report on Friday, July 16th. They noted that the move was a valuation call.

In other Matador Resources news, COO Craig N. Adams acquired 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 3rd. The shares were bought at an average cost of $29.33 per share, with a total value of $29,330.00. Following the completion of the acquisition, the chief operating officer now directly owns 147,427 shares in the company, valued at approximately $4,324,033.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Joseph Wm Foran acquired 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 4th. The shares were acquired at an average cost of $28.04 per share, for a total transaction of $84,120.00. The disclosure for this purchase can be found here. In the last three months, insiders acquired 5,000 shares of company stock valued at $138,700. 6.80% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MTDR. Marshall Wace LLP purchased a new position in Matador Resources in the first quarter worth $74,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Matador Resources by 16.9% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,164 shares of the energy company’s stock worth $262,000 after buying an additional 1,615 shares during the period. Victory Capital Management Inc. lifted its stake in shares of Matador Resources by 1,706.7% during the first quarter. Victory Capital Management Inc. now owns 307,664 shares of the energy company’s stock worth $7,215,000 after buying an additional 290,635 shares during the period. Envestnet Asset Management Inc. lifted its stake in shares of Matador Resources by 116.6% during the first quarter. Envestnet Asset Management Inc. now owns 46,309 shares of the energy company’s stock worth $1,086,000 after buying an additional 24,926 shares during the period. Finally, Wesbanco Bank Inc. acquired a new stake in shares of Matador Resources during the first quarter worth $225,000. 84.34% of the stock is currently owned by institutional investors and hedge funds.

Shares of MTDR stock traded up $2.74 during midday trading on Monday, reaching $36.24. 2,092,289 shares of the stock were exchanged, compared to its average volume of 1,751,798. Matador Resources has a 1 year low of $6.29 and a 1 year high of $38.04. The company’s 50 day moving average is $29.41 and its two-hundred day moving average is $29.17. The company has a current ratio of 0.79, a quick ratio of 0.76 and a debt-to-equity ratio of 0.96. The firm has a market cap of $4.24 billion, a PE ratio of -20.71 and a beta of 4.80.

Matador Resources (NYSE:MTDR) last posted its earnings results on Monday, July 26th. The energy company reported $1.02 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $0.35. Matador Resources had a positive return on equity of 15.69% and a negative net margin of 18.98%. The firm had revenue of $357.43 million for the quarter, compared to the consensus estimate of $356.18 million. During the same quarter in the prior year, the business earned ($0.03) EPS. The business’s revenue for the quarter was up 468.1% on a year-over-year basis. As a group, equities analysts expect that Matador Resources will post 3.56 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, September 3rd. Investors of record on Thursday, August 12th were issued a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.28%. The ex-dividend date was Wednesday, August 11th. Matador Resources’s payout ratio is 17.86%.

Matador Resources Company Profile

Matador Resources Co is a holding company, which engages in the exploration, development, production, and acquisition of oil and natural gas resources. It operates through the following segments: Exploration and Production, Midstream, and Corporate. The Exploration and Production segment focuses on the exploration, development, production, and acquisition of oil and liquids-rich portion of the Wolfcamp and Bone Spring.

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Analyst Recommendations for Matador Resources (NYSE:MTDR)

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