Matador Resources (NYSE:MTDR) Declares Dividend Increase – $0.31 Per Share

Matador Resources (NYSE:MTDR) declared a quarterly dividend on Tuesday, February 18th, Wall Street Journal reports. Investors of record on Friday, February 28th will be given a dividend of 0.3125 per share by the energy company on Friday, March 14th. This represents a $1.25 dividend on an annualized basis and a dividend yield of 2.39%. The ex-dividend date is Friday, February 28th. This is an increase from Matador Resources’s previous quarterly dividend of $0.25.

Matador Resources has increased its dividend payment by an average of 89.5% annually over the last three years. Matador Resources has a payout ratio of 11.6% meaning 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 $1.00 annual dividend with an expected future payout ratio of 11.6%.

Matador Resources Stock Down 0.4 %

NYSE:MTDR opened at $52.27 on Wednesday. Matador Resources has a 52 week low of $47.15 and a 52 week high of $71.08. The stock’s fifty day moving average is $58.05 and its two-hundred day moving average is $55.79. The stock has a market capitalization of $6.52 billion, a price-to-earnings ratio of 7.37 and a beta of 3.22. The company has a quick ratio of 0.84, a current ratio of 0.93 and a debt-to-equity ratio of 0.61.

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

Insiders Place Their Bets

In other news, insider Van H. Singleton II acquired 2,000 shares of the company’s stock in a transaction on Friday, February 21st. The shares were bought at an average price of $53.21 per share, with a total value of $106,420.00. Following the completion of the acquisition, the insider now owns 289,135 shares in the company, valued at $15,384,873.35. This trade represents a 0.70 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Joseph Wm Foran bought 6,000 shares of Matador Resources stock in a transaction dated Friday, February 21st. The stock was purchased at an average cost of $53.94 per share, with a total value of $323,640.00. Following the completion of the acquisition, the chief executive officer now directly owns 39,379 shares in the company, valued at approximately $2,124,103.26. The trade was a 17.98 % increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 13,880 shares of company stock valued at $753,949. 6.10% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

MTDR has been the subject of a number of research reports. Mizuho dropped their price objective on shares of Matador Resources from $74.00 to $73.00 and set an “outperform” rating for the company in a report on Monday, December 16th. Stephens boosted their price target on shares of Matador Resources from $78.00 to $80.00 and gave the stock an “overweight” rating in a research note on Friday, December 6th. Truist Financial upped their price objective on Matador Resources from $75.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Morgan Stanley initiated coverage on Matador Resources in a report on Friday, January 10th. They issued an “equal weight” rating and a $78.00 target price for the company. Finally, Wells Fargo & Company upped their price target on Matador Resources from $87.00 to $91.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. One investment analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $75.14.

Matador Resources Company Profile

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.