Wells Fargo & Company upgraded shares of Matador Resources (NYSE:MTDR – Free Report) from an equal weight rating to an overweight rating in a research report sent to investors on Wednesday morning, Marketbeat.com reports. The firm currently has $77.00 price target on the energy company’s stock, down from their prior price target of $79.00.
Several other equities analysts have also recently commented on the stock. Weiss Ratings raised shares of Matador Resources from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, August 21st. Zacks Research cut Matador Resources from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 25th. Stephens upped their price objective on Matador Resources from $92.00 to $93.00 and gave the company an “overweight” rating in a research note on Tuesday, July 28th. Roth Capital raised Matador Resources from a “neutral” rating to a “buy” rating and set a $65.00 target price on the stock in a report on Monday, June 22nd. Finally, Wall Street Zen upgraded Matador Resources from a “hold” rating to a “buy” rating in a research report on Saturday, August 15th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, Matador Resources presently has an average rating of “Moderate Buy” and a consensus target price of $65.93.
Get Our Latest Stock Analysis on Matador Resources
Matador Resources Trading Down 0.7%
Matador Resources (NYSE:MTDR – Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The energy company reported $2.61 EPS for the quarter, beating analysts’ consensus estimates of $2.08 by $0.53. The firm had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.06 billion. Matador Resources had a net margin of 19.85% and a return on equity of 13.18%. The firm’s revenue was up 32.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.53 EPS. As a group, research analysts expect that Matador Resources will post 7.26 EPS for the current fiscal year.
Matador Resources Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 8th. Investors of record on Monday, August 10th will be given a $0.375 dividend. This represents a $1.50 annualized dividend and a dividend yield of 2.5%. The ex-dividend date is Monday, August 10th. Matador Resources’s dividend payout ratio is 25.73%.
Insiders Place Their Bets
In other Matador Resources news, COO Glenn W. Stetson purchased 500 shares of the company’s stock in a transaction dated Tuesday, June 9th. The shares were bought at an average price of $53.41 per share, for a total transaction of $26,705.00. Following the purchase, the chief operating officer directly owned 95,470 shares in the company, valued at $5,099,052.70. This trade represents a 0.53% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Christopher P. Calvert acquired 2,500 shares of the business’s stock in a transaction that occurred on Thursday, August 27th. The stock was bought at an average cost of $56.64 per share, for a total transaction of $141,600.00. Following the completion of the purchase, the chief financial officer directly owned 44,000 shares in the company, valued at $2,492,160. This represents a 6.02% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders have bought 25,644 shares of company stock valued at $1,344,638. 5.90% of the stock is owned by insiders.
Institutional Trading of Matador Resources
Hedge funds and other institutional investors have recently bought and sold shares of the stock. V Square Quantitative Management LLC acquired a new position in shares of Matador Resources in the first quarter valued at $27,000. Kestra Investment Management LLC boosted its stake in Matador Resources by 225.2% during the second quarter. Kestra Investment Management LLC now owns 517 shares of the energy company’s stock worth $25,000 after buying an additional 358 shares in the last quarter. Center for Financial Planning Inc. acquired a new stake in Matador Resources during the first quarter worth $41,000. Altshuler Shaham Ltd increased its holdings in Matador Resources by 36.7% in the 1st quarter. Altshuler Shaham Ltd now owns 748 shares of the energy company’s stock valued at $47,000 after buying an additional 201 shares during the period. Finally, Measured Wealth Private Client Group LLC bought a new stake in Matador Resources in the 3rd quarter valued at $35,000. 91.98% of the stock is currently owned by institutional investors and hedge funds.
About Matador Resources
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.
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