Truist Financial Cuts Matador Resources (NYSE:MTDR) Price Target to $75.00

Matador Resources (NYSE:MTDR) had its target price decreased by Truist Financial from $86.00 to $75.00 in a research note released on Monday morning, Benzinga reports. Truist Financial currently has a buy rating on the energy company’s stock.

A number of other brokerages also recently weighed in on MTDR. 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 report on Wednesday, July 24th. Benchmark reissued a buy rating and set a $62.00 target price on shares of Matador Resources in a report on Wednesday, July 24th. Wolfe Research initiated coverage on Matador Resources in a research note on Thursday, July 18th. They issued a peer perform rating on the stock. JPMorgan Chase & Co. reduced their price objective on shares of Matador Resources from $83.00 to $76.00 and set an overweight rating for the company in a research report on Thursday, September 12th. Finally, Mizuho decreased their price objective on shares of Matador Resources from $85.00 to $74.00 and set an outperform rating on the stock in a report on Monday, September 16th. Two research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus price target of $75.67.

Matador Resources Price Performance

NYSE:MTDR opened at $51.16 on Monday. The stock has a market capitalization of $6.38 billion, a PE ratio of 6.98 and a beta of 3.27. Matador Resources has a 1-year low of $47.15 and a 1-year high of $71.08. The firm has a fifty day simple moving average of $54.49 and a 200 day simple moving average of $59.98. The company has a current ratio of 0.86, a quick ratio of 0.82 and a debt-to-equity ratio of 0.41.

Matador Resources (NYSE:MTDR) last announced its quarterly earnings results on Tuesday, July 23rd. The energy company reported $2.05 EPS for the quarter, beating analysts’ consensus estimates of $1.76 by $0.29. The firm had revenue of $847.14 million during the quarter, compared to analysts’ expectations of $822.55 million. Matador Resources had a net margin of 29.01% and a return on equity of 21.12%. The company’s revenue for the quarter was up 32.8% compared to the same quarter last year. During the same quarter last year, the company posted $1.42 earnings per share. On average, research analysts expect that Matador Resources will post 7.63 EPS for the current fiscal year.

Matador Resources Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Thursday, August 15th were given 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 1.56%. Matador Resources’s payout ratio is presently 10.96%.

Insider Activity

In related news, CAO Robert T. Macalik purchased 500 shares of Matador Resources stock in a transaction that occurred on Friday, August 2nd. The shares were acquired at an average price of $54.50 per share, with a total value of $27,250.00. Following the completion of the transaction, the chief accounting officer now directly owns 29,300 shares of the company’s stock, valued at approximately $1,596,850. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CAO Robert T. Macalik acquired 500 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The stock was acquired at an average price of $54.50 per share, with a total value of $27,250.00. Following the completion of the transaction, the chief accounting officer now directly owns 29,300 shares of the company’s stock, valued at approximately $1,596,850. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Joseph Wm Foran bought 2,500 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was purchased at an average cost of $51.47 per share, for a total transaction of $128,675.00. Following the completion of the acquisition, the chief executive officer now owns 37,751 shares in the company, valued at $1,943,043.97. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 12,300 shares of company stock worth $634,615. Corporate insiders own 6.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Denver PWM LLC bought a new position in shares of Matador Resources in the second quarter worth about $27,000. Covestor Ltd lifted its stake in Matador Resources by 121.4% in the 1st quarter. Covestor Ltd now owns 414 shares of the energy company’s stock valued at $28,000 after purchasing an additional 227 shares during the last quarter. Rise Advisors LLC acquired a new stake in Matador Resources in the first quarter valued at approximately $34,000. Quarry LP grew its stake in shares of Matador Resources by 47.5% during the second quarter. Quarry LP now owns 779 shares of the energy company’s stock worth $46,000 after buying an additional 251 shares during the last quarter. Finally, Advisors Asset Management Inc. increased its holdings in shares of Matador Resources by 191.8% during the first quarter. Advisors Asset Management Inc. now owns 709 shares of the energy company’s stock worth $47,000 after buying an additional 466 shares in the last quarter. 91.98% of the stock is currently owned by institutional investors and hedge funds.

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.