Matador Resources (MTDR) to Issue Quarterly Dividend of $0.25 on December 6th

by · The Cerbat Gem

Matador Resources (NYSE:MTDR – Get Free Report) announced a quarterly dividend on Wednesday, October 16th, NASDAQ reports. Shareholders of record on Friday, November 15th will be given a dividend of 0.25 per share by the energy company on Friday, December 6th. This represents a $1.00 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date of this dividend is Friday, November 15th. This is a positive change from Matador Resources’s previous quarterly dividend of $0.20.

Matador Resources has a dividend payout ratio of 9.6% meaning its dividend is sufficiently covered by earnings. Analysts expect Matador Resources to earn $8.03 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 10.0%.

Matador Resources Stock Performance

MTDR opened at $52.46 on Friday. The firm has a market cap of $6.55 billion, a P/E ratio of 7.19 and a beta of 3.26. Matador Resources has a 1-year low of $47.15 and a 1-year high of $71.08. The company has a 50 day simple moving average of $53.32 and a two-hundred day simple moving average of $58.91. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.86 and a quick ratio of 0.82.

Matador Resources (NYSE:MTDR – Get Free Report) last issued its quarterly earnings results on Tuesday, July 23rd. The energy company reported $2.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.76 by $0.29. Matador Resources had a return on equity of 21.12% and a net margin of 29.01%. The business had revenue of $847.14 million during the quarter, compared to analyst estimates of $822.55 million. During the same quarter in the prior year, the business posted $1.42 EPS. Matador Resources’s revenue for the quarter was up 32.8% compared to the same quarter last year. Equities analysts forecast that Matador Resources will post 7.4 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Joseph Wm Foran purchased 2,000 shares of the stock in a transaction that occurred on Friday, August 2nd. The stock was bought at an average cost of $55.96 per share, for a total transaction of $111,920.00. Following the completion of the transaction, the chief executive officer now directly owns 35,251 shares in the company, valued at $1,972,645.96. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, CEO Joseph Wm Foran purchased 2,000 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The shares were bought at an average cost of $55.96 per share, for a total transaction of $111,920.00. Following the acquisition, the chief executive officer now owns 35,251 shares of the company’s stock, valued at approximately $1,972,645.96. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Robert T. Macalik acquired 500 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was purchased at an average cost of $50.25 per share, with a total value of $25,125.00. Following the purchase, the chief accounting officer now owns 29,800 shares of the company’s stock, valued at $1,497,450. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 12,300 shares of company stock valued at $634,615. 6.10% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

MTDR has been the topic of a number of research analyst reports. TD Cowen boosted their price target on Matador Resources from $85.00 to $87.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Stephens boosted their target price on shares of Matador Resources from $74.00 to $76.00 and gave the stock an “overweight” rating in a report on Friday, September 27th. Capital One Financial raised shares of Matador Resources from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $80.00 to $84.00 in a research note on Thursday, July 25th. Wolfe Research initiated coverage on shares of Matador Resources in a report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Finally, BMO Capital Markets increased their price objective on shares of Matador Resources from $75.00 to $78.00 and gave the company an “outperform” rating in a report on Friday, October 4th. Two investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $75.54.

Check Out Our Latest Analysis on MTDR

Matador Resources Company Profile

(Get Free Report)

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.

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