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

Matador Resources (NYSE:MTDR) had its price objective reduced 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.

Other research analysts have also recently issued reports about the company. BMO Capital Markets boosted their price target on Matador Resources from $75.00 to $78.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. Truist Financial dropped their target price on shares of Matador Resources from $86.00 to $75.00 and set a “buy” rating for the company in a research report on Monday, September 30th. Stephens lifted their price target on shares of Matador Resources from $74.00 to $76.00 and gave the company an “overweight” rating in a report on Friday, September 27th. Wells Fargo & Company dropped their price objective on shares of Matador Resources from $89.00 to $87.00 and set an “overweight” rating for the company in a report on Tuesday, October 1st. Finally, Mizuho reduced their target price on Matador Resources from $85.00 to $74.00 and set an “outperform” rating on the stock in a report on Monday, September 16th. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $75.54.

Matador Resources Trading Up 2.3 %

Shares of MTDR stock opened at $51.80 on Wednesday. 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 has a 12-month low of $47.15 and a 12-month high of $71.08. The stock has a market capitalization of $6.46 billion, a P/E ratio of 7.10 and a beta of 3.26. The firm’s 50 day moving average is $53.38 and its 200 day moving average is $58.96.

Matador Resources (NYSE:MTDR) last issued its quarterly earnings data on Tuesday, July 23rd. The energy company reported $2.05 earnings per share for the quarter, topping the consensus estimate of $1.76 by $0.29. The firm had revenue of $847.14 million for 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 business’s quarterly revenue was up 32.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.42 EPS. Research analysts expect that Matador Resources will post 7.4 earnings per share for the current year.

Matador Resources Dividend Announcement

The company also recently declared a dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 15th will be paid a $0.25 dividend. The ex-dividend date is Friday, November 15th. Matador Resources’s dividend payout ratio (DPR) is 10.96%.

Insider Activity at Matador Resources

In related news, EVP Bryan A. Erman purchased 1,000 shares of the company’s stock in a transaction on Friday, September 6th. The stock was acquired at an average cost of $50.35 per share, for a total transaction of $50,350.00. Following the completion of the transaction, the executive vice president now directly owns 2,750 shares in the company, valued at approximately $138,462.50. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link. In other news, EVP Bryan A. Erman purchased 1,000 shares of the stock in a transaction dated Friday, September 6th. The stock was acquired at an average cost of $50.35 per share, for a total transaction of $50,350.00. Following the completion of the transaction, the executive vice president now directly owns 2,750 shares in the company, valued at approximately $138,462.50. This represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Joseph Wm Foran bought 2,000 shares of the company’s stock in a transaction on 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 transaction, the chief executive officer now owns 35,251 shares in the company, valued at $1,972,645.96. 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 have acquired 12,300 shares of company stock worth $634,615. Insiders own 6.10% of the company’s stock.

Institutional Investors Weigh In On Matador Resources

A number of hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in Matador Resources by 0.9% in the first quarter. Vanguard Group Inc. now owns 11,124,705 shares of the energy company’s stock valued at $742,797,000 after purchasing an additional 103,713 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Matador Resources by 8.1% during 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 in the last quarter. Clearbridge Investments LLC increased its stake 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 worth $134,102,000 after buying an additional 214,334 shares during the period. Wasatch Advisors LP increased its stake in shares of Matador Resources by 7.3% during the first quarter. Wasatch Advisors LP now owns 1,176,802 shares of the energy company’s stock worth $78,575,000 after buying an additional 79,920 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its holdings in Matador Resources by 5.1% in 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 acquiring an additional 53,322 shares in the last quarter. 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.