Matador Resources (NYSE:MTDR) Price Target Cut to $63.00 by Analysts at Truist Financial

Matador Resources (NYSE:MTDR) had its price target cut by Truist Financial from $67.00 to $63.00 in a report released on Thursday,Benzinga reports. They currently have a buy rating on the energy company’s stock.

A number of other research firms have also recently commented on MTDR. KeyCorp raised their price target on shares of Matador Resources from $61.00 to $73.00 and gave the stock an “overweight” rating in a report on Thursday, April 2nd. BMO Capital Markets upped their price objective on shares of Matador Resources from $65.00 to $72.00 and gave the company an “outperform” rating in a report on Monday, April 6th. Roth Capital raised shares of Matador Resources from a “neutral” rating to a “buy” rating and set a $65.00 price objective on the stock in a research report on Monday, June 22nd. Citigroup reduced their target price on Matador Resources from $77.00 to $72.00 and set a “buy” rating for the company in a research note on Tuesday, May 26th. Finally, Mizuho boosted their target price on Matador Resources from $74.00 to $77.00 and gave the company an “outperform” rating in a research report on Wednesday, May 27th. Eleven analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $64.08.

Matador Resources Trading Up 0.7%

NYSE MTDR opened at $53.02 on Thursday. The business has a 50 day simple moving average of $53.59 and a 200 day simple moving average of $52.83. Matador Resources has a one year low of $37.14 and a one year high of $66.84. The stock has a market capitalization of $6.58 billion, a P/E ratio of 13.63 and a beta of 0.74. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.73 and a quick ratio of 0.70.

Matador Resources (NYSE:MTDR) last issued its quarterly earnings results on Wednesday, May 6th. The energy company reported $1.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.24 by $0.29. The firm had revenue of $941.60 million for the quarter, compared to analyst estimates of $871.57 million. Matador Resources had a return on equity of 11.20% and a net margin of 14.41%.The company’s revenue was down 33.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.99 earnings per share. Research analysts expect that Matador Resources will post 7.06 earnings per share for the current year.

Matador Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Friday, May 8th were paid a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend was Friday, May 8th. Matador Resources’s dividend payout ratio (DPR) is 38.56%.

Insider Activity

In other Matador Resources news, CEO Joseph Wm Foran bought 4,675 shares of the stock in a transaction that occurred on Wednesday, May 27th. The shares were bought at an average price of $52.36 per share, for a total transaction of $244,783.00. Following the acquisition, the chief executive officer directly owned 6,997 shares of the company’s stock, valued at approximately $366,362.92. The trade was a 201.34% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Glenn W. Stetson purchased 500 shares of the company’s stock in a transaction that occurred on Tuesday, June 9th. The stock was acquired at an average cost of $53.41 per share, for a total transaction of $26,705.00. Following the transaction, the chief operating officer owned 95,470 shares in the company, valued at $5,099,052.70. This represents a 0.53% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired 11,907 shares of company stock worth $635,712 over the last three months. 5.90% of the stock is currently owned by insiders.

Institutional Trading of Matador Resources

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. V Square Quantitative Management LLC purchased a new stake in shares of Matador Resources in the first quarter worth approximately $27,000. Kestra Investment Management LLC boosted its holdings in Matador Resources by 225.2% during the 2nd quarter. Kestra Investment Management LLC now owns 517 shares of the energy company’s stock worth $25,000 after acquiring an additional 358 shares during the last quarter. Center for Financial Planning Inc. purchased a new position in Matador Resources during the 1st quarter worth $41,000. Altshuler Shaham Ltd boosted its holdings in Matador Resources by 36.7% during the 1st quarter. Altshuler Shaham Ltd now owns 748 shares of the energy company’s stock worth $47,000 after acquiring an additional 201 shares during the last quarter. Finally, Measured Wealth Private Client Group LLC bought a new stake in shares of Matador Resources in the 3rd quarter worth $35,000. 91.98% of the stock is owned by institutional investors.

Matador Resources Company Profile

Matador Resources Company is an independent energy firm primarily engaged in the exploration, development and production of oil, natural gas liquids (NGLs) and natural gas. The company focuses on upstream operations, utilizing horizontal drilling and hydraulic fracturing techniques to unlock hydrocarbons from key reservoirs. Its asset base includes both operated and non‐operated positions, with a particular emphasis on the Permian Basin, one of the most prolific oil-producing regions in North America.

Matador’s core operations are concentrated in the Delaware Basin segment of the Permian Basin, where it holds substantial acreage in both Reeves and Culberson counties in West Texas and Eddy and Lea counties in New Mexico.