Scotiabank began coverage on shares of Matador Resources (NYSE:MTDR – Free Report) in a research report released on Thursday, MarketBeat reports. The brokerage issued a sector perform rating and a $59.00 price target on the energy company’s stock.
MTDR has been the subject of a number of other reports. Citigroup decreased their price objective on shares of Matador Resources from $68.00 to $60.00 and set a “buy” rating for the company in a report on Tuesday, August 11th. KeyCorp upped their price objective on Matador Resources from $68.00 to $73.00 and gave the company an “overweight” rating in a research report on Tuesday, September 15th. Stephens increased their target price on Matador Resources from $92.00 to $93.00 and gave the company an “overweight” rating in a research note on Tuesday, July 28th. Morgan Stanley reduced their target price on Matador Resources from $75.00 to $66.00 and set an “equal weight” rating for the company in a report on Monday, June 29th. Finally, UBS Group lifted their target price on Matador Resources from $56.00 to $64.00 and gave the stock a “neutral” rating in a report on Monday, September 14th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $66.81.
Check Out Our Latest Research Report on Matador Resources
Matador Resources Stock Performance
Shares of MTDR stock opened at $57.47 on Thursday. Matador Resources has a one year low of $37.14 and a one year high of $66.84. The company’s 50-day moving average is $55.91 and its 200 day moving average is $55.32. The company has a market capitalization of $7.11 billion, a price-to-earnings ratio of 9.86 and a beta of 0.98. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.62 and a current ratio of 0.65.
Matador Resources (NYSE:MTDR – Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The energy company reported $2.61 earnings per share for the quarter, beating analysts’ consensus estimates of $2.08 by $0.53. Matador Resources had a net margin of 19.85% and a return on equity of 13.18%. The business had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.06 billion. During the same period last year, the business earned $1.53 EPS. Matador Resources’s revenue was up 32.5% compared to the same quarter last year. Sell-side analysts expect that Matador Resources will post 7.62 EPS for the current fiscal year.
Matador Resources Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Tuesday, September 8th. Stockholders of record on Monday, August 10th were issued a dividend of $0.3750 per share. This represents a $1.50 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend was Monday, August 10th. Matador Resources’s dividend payout ratio (DPR) is presently 25.73%.
Insider Transactions at Matador Resources
In related news, CFO Christopher P. Calvert acquired 2,500 shares of the firm’s stock in a transaction dated Thursday, August 27th. The stock was purchased at an average cost of $56.64 per share, with a total value of $141,600.00. Following the completion of the acquisition, the chief financial officer directly owned 44,000 shares of the company’s stock, valued at approximately $2,492,160. This trade represents a 6.02% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP William Elsener acquired 850 shares of the stock in a transaction that occurred on Monday, August 10th. The shares were bought at an average price of $50.94 per share, for a total transaction of $43,299.00. Following the transaction, the executive vice president owned 114,879 shares of the company’s stock, valued at $5,851,936.26. This trade represents a 0.75% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders purchased 23,144 shares of company stock worth $1,211,793 over the last three months. 5.90% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On Matador Resources
Large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. purchased a new position in Matador Resources in the second quarter worth about $573,936,000. Dimensional Fund Advisors LP increased its stake in Matador Resources by 4.2% during the first quarter. Dimensional Fund Advisors LP now owns 6,948,104 shares of the energy company’s stock worth $439,010,000 after acquiring an additional 277,839 shares during the last quarter. First Trust Advisors LP increased its stake in Matador Resources by 103.3% during the first quarter. First Trust Advisors LP now owns 1,595,415 shares of the energy company’s stock worth $100,798,000 after acquiring an additional 810,808 shares during the last quarter. Bank of New York Mellon Corp raised its position in Matador Resources by 2.3% during the first quarter. Bank of New York Mellon Corp now owns 1,186,046 shares of the energy company’s stock valued at $74,934,000 after purchasing an additional 26,205 shares during the period. Finally, Encompass Capital Advisors LLC purchased a new stake in Matador Resources during the fourth quarter valued at approximately $53,249,000. Institutional investors own 91.98% of the company’s stock.
Key Headlines Impacting Matador Resources
Here are the key news stories impacting Matador Resources this week:
- Positive Sentiment: Truist raised its price target to $65, indicating additional upside from recent trading levels and reinforcing its constructive view of Matador Resources. Truist lifts target for Matador Resources stock to USD 65.00
- Positive Sentiment: Morgan Stanley increased its target from $66 to $69 while maintaining an “equal weight” rating. The higher valuation target suggests improved expectations, despite the firm’s neutral stance. Morgan Stanley raises Matador Resources price target
- Positive Sentiment: Wells Fargo issued a “buy” rating on MTDR, adding another bullish analyst endorsement and potentially supporting investor sentiment. Wells Fargo issues a buy rating on Matador Resources
- Neutral Sentiment: Scotiabank initiated coverage with a “sector perform” rating and a $59 target. The target implies limited upside and indicates the bank expects Matador to perform broadly in line with its industry peers. Scotiabank initiates coverage on Matador Resources
- Negative Sentiment: A separate Wells Fargo report presented a pessimistic stock-price forecast, creating conflicting signals with the firm’s reported buy rating. This inconsistency could increase uncertainty around the near-term analyst outlook. Wells Fargo issues pessimistic forecast for Matador Resources
About Matador Resources
Matador Resources Company is an independent energy company engaged in the exploration, development, production and acquisition of oil and natural gas properties. Its operations are focused primarily on unconventional, or shale, formations, with oil, natural gas and natural gas liquids among its principal products.
The company’s main exploration and production activities are concentrated in the Delaware Basin, part of the Permian Basin in southeastern New Mexico and West Texas. Matador has also historically held interests in other U.S.
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