Raymond James Cuts Matador Resources (NYSE:MTDR) Price Target to $67.00

Matador Resources (NYSE:MTDR) had its price target reduced by Raymond James from $77.00 to $67.00 in a research note issued to investors on Monday,Benzinga reports. They currently have an outperform rating on the energy company’s stock.

Other analysts have also recently issued research reports about the stock. Truist Financial lifted their price target on shares of Matador Resources from $75.00 to $80.00 and gave the company a “buy” rating in a report on Monday, January 13th. Wolfe Research upgraded shares of Matador Resources from a “peer perform” rating to an “outperform” rating and set a $72.00 price target on the stock in a report on Friday, January 3rd. TD Cowen lifted their price target on shares of Matador Resources from $74.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Benchmark reiterated a “buy” rating and issued a $62.00 price target on shares of Matador Resources in a report on Friday, January 17th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $70.00 target price on shares of Matador Resources in a research report on Wednesday, January 15th. One research analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $74.60.

Matador Resources Stock Up 2.8 %

Shares of NYSE MTDR opened at $48.33 on Monday. The company has a quick ratio of 0.84, a current ratio of 0.93 and a debt-to-equity ratio of 0.61. Matador Resources has a 52 week low of $43.89 and a 52 week high of $71.08. The firm’s fifty day moving average is $56.82 and its 200 day moving average is $55.19. The company has a market cap of $6.05 billion, a price-to-earnings ratio of 6.77 and a beta of 3.17.

Matador Resources (NYSE:MTDR) last issued its earnings results on Tuesday, February 18th. The energy company reported $1.83 EPS for the quarter, missing the consensus estimate of $1.88 by ($0.05). The firm had revenue of $970.37 million during the quarter, compared to analysts’ expectations of $967.10 million. Matador Resources had a return on equity of 18.52% and a net margin of 25.26%. On average, equities research analysts expect that Matador Resources will post 8.53 earnings per share for the current year.

Matador Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be given a dividend of $0.3125 per share. This represents a $1.25 annualized dividend and a yield of 2.59%. This is an increase from Matador Resources’s previous quarterly dividend of $0.25. The ex-dividend date is Friday, February 28th. Matador Resources’s dividend payout ratio is 17.51%.

Insider Activity at Matador Resources

In related news, Director Paul W. Harvey bought 600 shares of the stock in a transaction on Friday, February 21st. The shares were acquired at an average price of $55.20 per share, for a total transaction of $33,120.00. Following the purchase, the director now owns 27,917 shares of the company’s stock, valued at approximately $1,541,018.40. The trade was a 2.20 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Timothy E. Parker bought 2,000 shares of the stock in a transaction on Wednesday, March 5th. The shares were bought at an average price of $44.67 per share, for a total transaction of $89,340.00. Following the purchase, the director now directly owns 83,790 shares in the company, valued at approximately $3,742,899.30. This trade represents a 2.45 % increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 21,830 shares of company stock valued at $1,132,652. 6.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Matador Resources

Institutional investors have recently made changes to their positions in the business. Franklin Resources Inc. lifted its stake in shares of Matador Resources by 12.0% in the 3rd quarter. Franklin Resources Inc. now owns 1,008,421 shares of the energy company’s stock worth $54,122,000 after purchasing an additional 107,827 shares during the period. Loomis Sayles & Co. L P lifted its stake in shares of Matador Resources by 16.8% in the 3rd quarter. Loomis Sayles & Co. L P now owns 455,662 shares of the energy company’s stock worth $22,519,000 after purchasing an additional 65,487 shares during the period. Stifel Financial Corp lifted its stake in shares of Matador Resources by 81.2% in the 3rd quarter. Stifel Financial Corp now owns 30,304 shares of the energy company’s stock worth $1,498,000 after purchasing an additional 13,583 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in shares of Matador Resources by 16.9% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 139,254 shares of the energy company’s stock worth $8,088,000 after purchasing an additional 20,172 shares during the period. Finally, HITE Hedge Asset Management LLC bought a new position in shares of Matador Resources in the 3rd quarter worth approximately $10,526,000. Institutional investors own 91.98% of the company’s stock.

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.