Matador Resources (NYSE:MTDR) Price Target Cut to $74.00

Matador Resources (NYSE:MTDR) had its price objective lowered by Mizuho from $85.00 to $74.00 in a research report sent to investors on Monday morning, Benzinga reports. The brokerage currently has an outperform rating on the energy company’s stock.

Other research analysts have also issued reports about the stock. Stephens decreased their price target on shares of Matador Resources from $83.00 to $81.00 and set an overweight rating on the stock in a research note on Wednesday, July 24th. Wolfe Research began coverage on shares of Matador Resources in a research note on Thursday, July 18th. They issued a peer perform rating on the stock. Truist Financial decreased their price target on shares of Matador Resources from $91.00 to $86.00 and set a buy rating on the stock in a research note on Monday, July 22nd. JPMorgan Chase & Co. decreased their price target on shares of Matador Resources from $83.00 to $76.00 and set an overweight rating on the stock in a research note on Thursday, September 12th. Finally, TD Cowen increased their price objective on shares of Matador Resources from $85.00 to $87.00 and gave the company a buy rating in a report on Wednesday, July 24th. Two analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, Matador Resources presently has a consensus rating of Moderate Buy and an average price target of $77.17.

Matador Resources Trading Up 0.9 %

MTDR stock opened at $52.19 on Monday. The company’s 50-day simple moving average is $56.79 and its 200-day simple moving average is $60.89. The company has a quick ratio of 0.82, a current ratio of 0.86 and a debt-to-equity ratio of 0.41. Matador Resources has a 52-week low of $48.22 and a 52-week high of $71.08. The firm has a market cap of $6.51 billion, a P/E ratio of 7.22 and a beta of 3.27.

Matador Resources (NYSE:MTDR) last issued its quarterly earnings results on Tuesday, July 23rd. The energy company reported $2.05 earnings per share for the quarter, beating analysts’ consensus estimates of $1.76 by $0.29. The firm had revenue of $847.14 million for 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 company posted $1.42 EPS. As a group, equities analysts forecast that Matador Resources will post 7.83 EPS for the current fiscal year.

Matador Resources Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Thursday, August 15th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.53%. Matador Resources’s dividend payout ratio is currently 10.96%.

Insider Transactions at Matador Resources

In other news, CFO Brian J. Willey purchased 1,500 shares of the business’s stock in a transaction dated Friday, September 6th. The stock was acquired at an average price of $50.50 per share, for a total transaction of $75,750.00. Following the acquisition, the chief financial officer now directly owns 1,500 shares of the company’s stock, valued at $75,750. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CFO Brian J. Willey bought 1,500 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The stock was purchased at an average price of $50.50 per share, for a total transaction of $75,750.00. Following the acquisition, the chief financial officer now owns 1,500 shares of the company’s stock, valued at $75,750. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Robert T. Macalik bought 500 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The stock was bought at an average price of $54.50 per share, with a total value of $27,250.00. Following the acquisition, the chief accounting officer now directly owns 29,300 shares in the company, valued at approximately $1,596,850. The disclosure for this purchase can be found here. Insiders bought 12,300 shares of company stock worth $634,615 in the last 90 days. Insiders own 6.10% of the company’s stock.

Institutional Trading of Matador Resources

Several institutional investors have recently added to or reduced their stakes in MTDR. Goldman Sachs Group Inc. increased its holdings in Matador Resources by 31.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,206,041 shares of the energy company’s stock valued at $125,435,000 after purchasing an additional 531,504 shares during the last quarter. Element Capital Management LLC purchased a new position in Matador Resources in the 1st quarter valued at approximately $28,572,000. Public Employees Retirement Association of Colorado boosted its position in Matador Resources by 14,874.4% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 427,520 shares of the energy company’s stock valued at $24,309,000 after buying an additional 424,665 shares during the period. Dimensional Fund Advisors LP boosted its position in Matador Resources by 8.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,734,819 shares of the energy company’s stock valued at $282,196,000 after buying an additional 356,506 shares during the period. Finally, Wellington Management Group LLP boosted its position in Matador Resources by 44.8% in the 4th quarter. Wellington Management Group LLP now owns 1,065,291 shares of the energy company’s stock valued at $60,572,000 after buying an additional 329,522 shares during the period. Institutional investors and hedge funds 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.