Matador Resources (NYSE:MTDR) to Issue $0.31 Quarterly Dividend

Matador Resources (NYSE:MTDR) declared a quarterly dividend on Wednesday, April 16th, RTT News reports. Investors of record on Friday, May 9th will be paid a dividend of 0.3125 per share by the energy company on Friday, June 6th. This represents a $1.25 annualized dividend and a dividend yield of 3.11%.

Matador Resources has increased its dividend by an average of 89.5% per year over the last three years. Matador Resources has a payout ratio of 15.7% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Matador Resources to earn $8.62 per share next year, which means the company should continue to be able to cover its $1.25 annual dividend with an expected future payout ratio of 14.5%.

Matador Resources Stock Up 3.1 %

NYSE:MTDR traded up $1.20 during trading hours on Wednesday, hitting $40.15. 1,936,131 shares of the company traded hands, compared to its average volume of 1,636,282. The company has a quick ratio of 0.84, a current ratio of 0.93 and a debt-to-equity ratio of 0.61. The company has a market cap of $5.03 billion, a PE ratio of 5.62 and a beta of 2.74. The firm’s 50-day simple moving average is $49.25 and its 200-day simple moving average is $54.01. Matador Resources has a one year low of $35.19 and a one year high of $67.51.

Matador Resources (NYSE:MTDR) last released its quarterly earnings results on Tuesday, February 18th. The energy company reported $1.83 earnings per share for the quarter, missing the consensus estimate of $1.88 by ($0.05). Matador Resources had a return on equity of 18.52% and a net margin of 25.26%. The firm had revenue of $970.37 million for the quarter, compared to analysts’ expectations of $967.10 million. Equities analysts predict that Matador Resources will post 8.53 earnings per share for the current year.

Insider Buying and Selling at Matador Resources

In related news, EVP Glenn W. Stetson bought 1,000 shares of the company’s stock in a transaction that occurred on Friday, February 21st. The stock was bought at an average cost of $53.06 per share, for a total transaction of $53,060.00. Following the acquisition, the executive vice president now directly owns 91,680 shares of the company’s stock, valued at $4,864,540.80. The trade was a 1.10 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Paul W. Harvey purchased 600 shares of Matador Resources stock in a transaction that occurred on Friday, February 21st. The shares were bought at an average price of $55.20 per share, for a total transaction of $33,120.00. Following the completion of the transaction, the director now owns 27,917 shares in the company, valued at $1,541,018.40. The trade was a 2.20 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired 21,350 shares of company stock worth $1,100,769 over the last ninety days. Insiders own 6.10% of the company’s stock.

Analyst Upgrades and Downgrades

MTDR has been the topic of several research reports. Truist Financial lifted their price objective on shares of Matador Resources from $75.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Stephens dropped their price objective on Matador Resources from $90.00 to $86.00 and set an “overweight” rating on the stock in a research note on Tuesday. Benchmark reissued a “buy” rating and issued a $62.00 target price on shares of Matador Resources in a research report on Friday, January 17th. Royal Bank of Canada dropped their price target on Matador Resources from $70.00 to $62.00 and set an “outperform” rating on the stock in a research report on Friday, April 11th. Finally, Wolfe Research raised Matador Resources from a “peer perform” rating to an “outperform” rating and set a $72.00 price objective for the company in a report on Friday, January 3rd. One equities research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $73.36.

About Matador Resources

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.