Matador Resources (NYSE:MTDR) Price Target Cut to $87.00

Matador Resources (NYSE:MTDR) had its price target reduced by Wells Fargo & Company from $89.00 to $87.00 in a report published on Tuesday, Benzinga reports. They currently have an overweight rating on the energy company’s stock.

Several other research analysts have also recently weighed in on the company. TD Cowen boosted their price target on Matador Resources from $85.00 to $87.00 and gave the stock a buy rating in a research note on Wednesday, July 24th. Truist Financial decreased their target price on Matador Resources from $86.00 to $75.00 and set a buy rating for the company in a research report on Monday, September 30th. Mizuho lowered their target price on shares of Matador Resources from $85.00 to $74.00 and set an outperform rating on the stock in a research note on Monday, September 16th. Stephens lifted their price target on shares of Matador Resources from $74.00 to $76.00 and gave the stock an overweight rating in a research note on Friday, September 27th. Finally, Royal Bank of Canada restated an outperform rating and set a $75.00 price objective on shares of Matador Resources in a research report on Friday, September 27th. 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 data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus target price of $75.85.

Matador Resources Price Performance

MTDR opened at $54.08 on Tuesday. The company has a current ratio of 0.86, a quick ratio of 0.82 and a debt-to-equity ratio of 0.41. The company has a market cap of $6.75 billion, a price-to-earnings ratio of 7.41 and a beta of 3.26. The stock has a fifty day simple moving average of $53.97 and a two-hundred day simple moving average of $59.79. Matador Resources has a 12-month low of $47.15 and a 12-month high of $71.08.

Matador Resources (NYSE:MTDR) last issued its quarterly earnings results on Tuesday, July 23rd. The energy company reported $2.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.76 by $0.29. The company had revenue of $847.14 million during the quarter, compared to analyst estimates of $822.55 million. Matador Resources had a net margin of 29.01% and a return on equity of 21.12%. Matador Resources’s quarterly revenue was up 32.8% compared to the same quarter last year. During the same period last year, the business earned $1.42 EPS. Research analysts predict that Matador Resources will post 7.63 earnings per share for the current fiscal year.

Matador Resources Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Thursday, August 15th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.48%. The ex-dividend date of this dividend was Thursday, August 15th. Matador Resources’s dividend payout ratio is 10.96%.

Insider Buying and Selling at Matador Resources

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

Hedge Funds Weigh In On Matador Resources

Hedge funds and other institutional investors have recently modified their holdings of the stock. Denver PWM LLC purchased a new position in Matador Resources during the 2nd quarter valued at approximately $27,000. Covestor Ltd grew its holdings in shares of Matador Resources by 121.4% in the first quarter. Covestor Ltd now owns 414 shares of the energy company’s stock valued at $28,000 after purchasing an additional 227 shares in the last quarter. Rise Advisors LLC bought a new stake in Matador Resources in the first quarter worth $34,000. Quarry LP raised its stake in Matador Resources by 47.5% during the second quarter. Quarry LP now owns 779 shares of the energy company’s stock valued at $46,000 after purchasing an additional 251 shares in the last quarter. Finally, Advisors Asset Management Inc. raised its stake in Matador Resources by 191.8% during the first quarter. Advisors Asset Management Inc. now owns 709 shares of the energy company’s stock valued at $47,000 after purchasing an additional 466 shares in the last quarter. Institutional investors own 91.98% of the company’s stock.

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.