Matador Resources Company (NYSE:MTDR) to Issue $0.38 Quarterly Dividend

Matador Resources Company (NYSE:MTDR) announced a quarterly dividend on Wednesday, April 22nd. Investors of record on Friday, May 8th will be paid a dividend of 0.375 per share by the energy company on Friday, June 5th. This represents a c) annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend is Friday, May 8th.

Matador Resources has a dividend payout ratio of 24.0% meaning its dividend is sufficiently covered by earnings. Analysts expect Matador Resources to earn $7.88 per share next year, which means the company should continue to be able to cover its $1.50 annual dividend with an expected future payout ratio of 19.0%.

Matador Resources Price Performance

Matador Resources stock opened at $60.43 on Thursday. Matador Resources has a 52-week low of $37.14 and a 52-week high of $66.84. The company has a quick ratio of 0.75, a current ratio of 0.79 and a debt-to-equity ratio of 0.57. The firm’s fifty day moving average is $56.69 and its 200 day moving average is $47.45. The company has a market cap of $7.51 billion, a price-to-earnings ratio of 9.91 and a beta of 0.91.

Matador Resources (NYSE:MTDR) last posted its earnings results on Tuesday, February 24th. The energy company reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.16. The firm had revenue of $809.55 million for the quarter, compared to the consensus estimate of $811.13 million. Matador Resources had a net margin of 20.54% and a return on equity of 12.36%. The business’s quarterly revenue was down 15.7% on a year-over-year basis. During the same period in the previous year, the firm posted $1.83 EPS. Sell-side analysts forecast that Matador Resources will post 7.35 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently commented on MTDR shares. Royal Bank Of Canada dropped their price target on Matador Resources from $62.00 to $60.00 and set an “outperform” rating for the company in a research report on Tuesday, January 13th. Morgan Stanley lowered their price objective on Matador Resources from $56.00 to $52.00 and set an “equal weight” rating for the company in a research note on Friday, January 23rd. Truist Financial started coverage on Matador Resources in a report on Tuesday, March 24th. They issued a “hold” rating and a $60.00 target price for the company. BMO Capital Markets boosted their target price on Matador Resources from $65.00 to $72.00 and gave the company an “outperform” rating in a research report on Monday, April 6th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Matador Resources in a report on Friday, January 9th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, Matador Resources has a consensus rating of “Moderate Buy” and a consensus target price of $62.62.

Matador Resources Company Profile

Matador Resources Company is an independent energy firm primarily engaged in the exploration, development and production of oil, natural gas liquids (NGLs) and natural gas. The company focuses on upstream operations, utilizing horizontal drilling and hydraulic fracturing techniques to unlock hydrocarbons from key reservoirs. Its asset base includes both operated and non‐operated positions, with a particular emphasis on the Permian Basin, one of the most prolific oil-producing regions in North America.

Matador’s core operations are concentrated in the Delaware Basin segment of the Permian Basin, where it holds substantial acreage in both Reeves and Culberson counties in West Texas and Eddy and Lea counties in New Mexico.