Matador Resources (NYSE:MTDR) Price Target Lowered to $72.00 at KeyCorp

Matador Resources (NYSE:MTDR) had its price objective cut by KeyCorp from $76.00 to $72.00 in a research report sent to investors on Wednesday morning, Benzinga reports. They currently have an overweight rating on the energy company’s stock.

A number of other analysts also recently weighed in on the stock. JPMorgan Chase & Co. decreased their price target 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. Wolfe Research assumed coverage on shares of Matador Resources in a research report on Thursday, July 18th. They issued a “peer perform” rating for the company. Royal Bank of Canada reissued an “outperform” rating and issued a $75.00 target price on shares of Matador Resources in a research report on Friday, September 27th. Benchmark reaffirmed a “buy” rating and set a $62.00 price target on shares of Matador Resources in a research report on Wednesday, July 24th. Finally, Capital One Financial raised Matador Resources from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $80.00 to $84.00 in a report on Thursday, July 25th. Two investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $75.54.

Matador Resources Price Performance

MTDR opened at $51.52 on Wednesday. Matador Resources has a twelve month low of $47.15 and a twelve month high of $71.08. 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 firm has a market cap of $6.43 billion, a price-to-earnings ratio of 7.06 and a beta of 3.26. The company has a fifty day simple moving average of $53.24 and a 200 day simple moving average of $58.80.

Matador Resources (NYSE:MTDR) last announced its 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 for the quarter, compared to analyst estimates of $822.55 million. During the same period in the previous year, the company earned $1.42 earnings per share. The company’s revenue for the quarter was up 32.8% compared to the same quarter last year. Equities research analysts expect that Matador Resources will post 7.4 EPS for the current fiscal year.

Matador Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 15th will be given a $0.25 dividend. The ex-dividend date is Friday, November 15th. This is an increase from Matador Resources’s previous quarterly dividend of $0.20. This represents a $1.00 annualized dividend and a yield of 1.94%. Matador Resources’s dividend payout ratio (DPR) is currently 10.96%.

Insider Transactions at Matador Resources

In related news, CAO Robert T. Macalik acquired 500 shares of Matador Resources 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 acquisition, the chief accounting officer now directly owns 29,300 shares of the company’s stock, valued at $1,596,850. This trade represents 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. In other Matador Resources news, CFO Brian J. Willey purchased 1,500 shares of the company’s stock in a transaction on Friday, September 6th. The shares were purchased at an average cost of $50.50 per share, for a total transaction of $75,750.00. Following the completion of the transaction, the chief financial officer now owns 1,500 shares in the company, valued at $75,750. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Robert T. Macalik acquired 500 shares of Matador Resources stock in a transaction dated Friday, August 2nd. The shares were bought at an average cost of $54.50 per share, with a total value of $27,250.00. Following the completion of the purchase, the chief accounting officer now owns 29,300 shares in the company, valued at approximately $1,596,850. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 12,300 shares of company stock worth $634,615. Company insiders own 6.10% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in Matador Resources by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 11,124,705 shares of the energy company’s stock worth $742,797,000 after purchasing an additional 103,713 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Matador Resources by 8.1% in the second quarter. Dimensional Fund Advisors LP now owns 4,734,819 shares of the energy company’s stock worth $282,196,000 after buying an additional 356,506 shares during the period. Clearbridge Investments LLC grew its holdings in shares of Matador Resources by 10.5% during the second quarter. Clearbridge Investments LLC now owns 2,250,036 shares of the energy company’s stock valued at $134,102,000 after buying an additional 214,334 shares in the last quarter. Wasatch Advisors LP raised its position in Matador Resources by 7.3% during the first quarter. Wasatch Advisors LP now owns 1,176,802 shares of the energy company’s stock valued at $78,575,000 after buying an additional 79,920 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its position in Matador Resources by 5.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,104,791 shares of the energy company’s stock valued at $73,768,000 after buying an additional 53,322 shares during the period. 91.98% of the stock is currently owned by institutional investors and hedge funds.

About Matador Resources

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.