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

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

MTDR has been the topic of a number of other reports. JPMorgan Chase & Co. dropped their price objective on Matador Resources from $83.00 to $76.00 and set an overweight rating on the stock in a research report on Thursday, September 12th. Benchmark restated a buy rating and set a $62.00 target price on shares of Matador Resources in a research note on Wednesday, July 24th. TD Cowen lifted their price target on shares of Matador Resources from $85.00 to $87.00 and gave the stock a buy rating in a research note on Wednesday, July 24th. Capital One Financial raised shares of 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. Finally, Truist Financial dropped their target price on shares of Matador Resources from $91.00 to $86.00 and set a buy rating on the stock in a report on Monday, July 22nd. Two research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus price target of $77.17.

Matador Resources Trading Up 1.1 %

Shares of NYSE MTDR opened at $50.40 on Monday. The firm’s 50 day moving average price is $57.26 and its 200-day moving average price is $61.14. Matador Resources has a 52-week low of $48.22 and a 52-week high of $71.08. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.82 and a current ratio of 0.86. The company has a market cap of $6.29 billion, a PE ratio of 6.88 and a beta of 3.27.

Matador Resources (NYSE:MTDR) last announced its quarterly earnings data on Tuesday, July 23rd. The energy company reported $2.05 earnings per share for the quarter, topping analysts’ consensus estimates of $1.76 by $0.29. Matador Resources had a net margin of 29.01% and a return on equity of 21.12%. The company had revenue of $847.14 million during the quarter, compared to analyst estimates of $822.55 million. During the same period in the previous year, the business earned $1.42 EPS. The firm’s revenue for the quarter was up 32.8% on a year-over-year basis. On average, equities research analysts expect that Matador Resources will post 7.83 EPS for the current fiscal year.

Matador Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Thursday, August 15th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date of this dividend was Thursday, August 15th. Matador Resources’s payout ratio is 10.96%.

Insider Transactions at Matador Resources

In related news, CEO Joseph Wm Foran bought 2,500 shares of the stock in a transaction that occurred on Friday, September 6th. The shares were bought at an average cost of $51.47 per share, for a total transaction of $128,675.00. Following the completion of the transaction, the chief executive officer now owns 37,751 shares of the company’s stock, valued at $1,943,043.97. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Joseph Wm Foran bought 2,500 shares of the firm’s stock in a transaction on Friday, September 6th. The shares were bought at an average price of $51.47 per share, for a total transaction of $128,675.00. Following the purchase, the chief executive officer now owns 37,751 shares in the company, valued at $1,943,043.97. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Robert T. Macalik purchased 500 shares of the stock in a transaction on Friday, August 2nd. The shares were purchased at an average cost of $54.50 per share, for a total transaction of $27,250.00. Following the acquisition, the chief accounting officer now directly owns 29,300 shares of the company’s stock, valued at $1,596,850. The disclosure for this purchase can be found here. Insiders purchased 11,800 shares of company stock worth $609,325 in the last three months. Corporate insiders own 6.10% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of MTDR. Denver PWM LLC bought a new stake in Matador Resources during the second quarter valued at about $27,000. Covestor Ltd grew its position in shares of Matador Resources by 121.4% during the first quarter. Covestor Ltd now owns 414 shares of the energy company’s stock worth $28,000 after purchasing an additional 227 shares in the last quarter. Rise Advisors LLC purchased a new stake in shares of Matador Resources during the first quarter worth about $34,000. Lindbrook Capital LLC raised its stake in Matador Resources by 84.3% during the 1st quarter. Lindbrook Capital LLC now owns 597 shares of the energy company’s stock valued at $40,000 after purchasing an additional 273 shares during the period. Finally, Quarry LP lifted its holdings in Matador Resources by 47.5% in the 2nd quarter. Quarry LP now owns 779 shares of the energy company’s stock worth $46,000 after purchasing an additional 251 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.