Truist Financial Cuts Matador Resources (NYSE:MTDR) Price Target to $75.00

Matador Resources (NYSE:MTDR) had its price objective cut by Truist Financial from $86.00 to $75.00 in a report released on Monday, Benzinga reports. They currently have a buy rating on the energy company’s stock.

A number of other analysts also recently weighed in on the stock. Wolfe Research initiated coverage on shares of Matador Resources in a report on Thursday, July 18th. They issued a peer perform rating for the company. Wells Fargo & Company raised their price objective on shares of Matador Resources from $88.00 to $89.00 and gave the stock an overweight rating in a report on Monday, July 29th. Benchmark reaffirmed a buy rating and set a $62.00 price objective on shares of Matador Resources in a report on Wednesday, July 24th. JPMorgan Chase & Co. reduced their price objective on shares of Matador Resources from $83.00 to $76.00 and set an overweight rating for the company in a report on Thursday, September 12th. Finally, Capital One Financial raised shares of Matador Resources from an equal weight rating to an overweight rating and raised their price objective for the stock from $80.00 to $84.00 in a report on Thursday, July 25th. Two analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $75.67.

Matador Resources Price Performance

Shares of Matador Resources stock opened at $53.43 on Monday. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.86 and a quick ratio of 0.82. Matador Resources has a fifty-two week low of $47.15 and a fifty-two week high of $71.08. The firm has a fifty day moving average price of $54.28 and a two-hundred day moving average price of $59.92. The company has a market cap of $6.67 billion, a PE ratio of 7.32 and a beta of 3.27.

Matador Resources (NYSE:MTDR) last issued its quarterly earnings results on Tuesday, July 23rd. The energy company reported $2.05 earnings per share for the quarter, beating 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 firm had revenue of $847.14 million during the quarter, compared to the consensus estimate of $822.55 million. During the same period in the prior year, the firm earned $1.42 EPS. The business’s revenue was up 32.8% on a year-over-year basis. Analysts expect that Matador Resources will post 7.63 EPS for the current year.

Matador Resources Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Investors 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 1.50%. The ex-dividend date of this dividend was Thursday, August 15th. Matador Resources’s dividend payout ratio (DPR) is currently 10.96%.

Insider Buying and Selling

In related news, CAO Robert T. Macalik acquired 500 shares of the stock in a transaction on Friday, August 2nd. The stock was purchased at an average price of $54.50 per share, for a total transaction of $27,250.00. Following the transaction, the chief accounting officer now owns 29,300 shares of the company’s stock, valued at approximately $1,596,850. The acquisition was disclosed in a filing with the SEC, which is available through this link. In related news, CEO Joseph Wm Foran acquired 2,000 shares of the stock in a transaction on Friday, August 2nd. The stock was purchased at an average price of $55.96 per share, for a total transaction of $111,920.00. Following the transaction, the chief executive officer now owns 35,251 shares of the company’s stock, valued at approximately $1,972,645.96. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, CAO Robert T. Macalik acquired 500 shares of the stock in a transaction on Friday, August 2nd. The stock was bought at an average price of $54.50 per share, with a total value of $27,250.00. Following the transaction, the chief accounting officer now directly owns 29,300 shares in the company, valued at approximately $1,596,850. The disclosure for this purchase can be found here. Insiders bought 12,300 shares of company stock worth $634,615 in the last quarter. 6.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Matador Resources

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MTDR. Goldman Sachs Group Inc. grew its position in shares of Matador Resources by 31.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,206,041 shares of the energy company’s stock worth $125,435,000 after buying an additional 531,504 shares during the period. Element Capital Management LLC acquired a new stake in shares of Matador Resources during the 1st quarter worth approximately $28,572,000. Public Employees Retirement Association of Colorado grew its position in shares of Matador Resources by 14,874.4% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 427,520 shares of the energy company’s stock worth $24,309,000 after buying an additional 424,665 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Matador Resources by 8.1% during the 2nd 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. Finally, Wellington Management Group LLP grew its position in shares of Matador Resources by 44.8% during the 4th quarter. Wellington Management Group LLP now owns 1,065,291 shares of the energy company’s stock worth $60,572,000 after buying an additional 329,522 shares during the period. Institutional investors and hedge funds 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.