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

Matador Resources (NYSE:MTDR) had its target price trimmed by KeyCorp from $76.00 to $72.00 in a research report released on Wednesday morning, Benzinga reports. The brokerage currently has an overweight rating on the energy company’s stock.

MTDR has been the subject of several other reports. JPMorgan Chase & Co. decreased 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. Benchmark restated a “buy” rating and issued a $62.00 price objective on shares of Matador Resources in a report on Wednesday, July 24th. 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. Wells Fargo & Company lowered their target price on Matador Resources from $89.00 to $87.00 and set an “overweight” rating for the company in a research note on Tuesday, October 1st. Finally, Capital One Financial raised Matador Resources from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $80.00 to $84.00 in a research note on Thursday, July 25th. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $75.54.

Matador Resources Stock Down 1.8 %

NYSE MTDR opened at $51.54 on Wednesday. The business’s 50-day moving average is $53.24 and its 200 day moving average is $58.80. The stock has a market capitalization of $6.43 billion, a PE ratio of 7.06 and a beta of 3.26. 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 1 year low of $47.15 and a 1 year high of $71.08.

Matador Resources (NYSE:MTDR) last posted its earnings results on Tuesday, July 23rd. The energy company reported $2.05 earnings per share (EPS) for the quarter, beating 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 return on equity of 21.12% and a net margin of 29.01%. The business’s revenue was up 32.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.42 earnings per share. Sell-side analysts forecast that Matador Resources will post 7.4 earnings per share for the current year.

Matador Resources Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 15th will be issued a $0.25 dividend. The ex-dividend date is Friday, November 15th. This is a boost from Matador Resources’s previous quarterly dividend of $0.20. This represents a $1.00 annualized dividend and a yield of 1.94%. Matador Resources’s payout ratio is 13.70%.

Insider Transactions at Matador Resources

In other news, CEO Joseph Wm Foran purchased 2,500 shares of Matador Resources stock in a transaction that occurred on Monday, September 9th. The stock was bought at an average price of $49.97 per share, with a total value of $124,925.00. Following the completion of the transaction, the chief executive officer now directly owns 40,251 shares of the company’s stock, valued at approximately $2,011,342.47. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Matador Resources news, CEO Joseph Wm Foran acquired 2,500 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The shares were bought at an average cost of $49.97 per share, with a total value of $124,925.00. Following the completion of the transaction, the chief executive officer now directly owns 40,251 shares of the company’s stock, valued at approximately $2,011,342.47. This represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Brian J. Willey bought 1,500 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was acquired at an average cost of $50.50 per share, with a total value of $75,750.00. Following the transaction, the chief financial officer now owns 1,500 shares in the company, valued at $75,750. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 12,300 shares of company stock worth $634,615. Corporate insiders own 6.10% of the company’s stock.

Institutional Investors Weigh In On Matador Resources

Large investors have recently added to or reduced their stakes in the stock. Element Capital Management LLC purchased a new position in shares of Matador Resources in the 1st quarter worth $28,572,000. Dimensional Fund Advisors LP boosted its position in Matador Resources by 8.1% in the second quarter. Dimensional Fund Advisors LP now owns 4,734,819 shares of the energy company’s stock worth $282,196,000 after purchasing an additional 356,506 shares during the last quarter. Wellington Management Group LLP grew its stake 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 valued at $60,572,000 after purchasing an additional 329,522 shares during the period. Los Angeles Capital Management LLC purchased a new stake in shares of Matador Resources during the 2nd quarter valued at about $18,747,000. Finally, Principal Financial Group Inc. lifted its stake in shares of Matador Resources by 38.5% in the 1st quarter. Principal Financial Group Inc. now owns 1,028,997 shares of the energy company’s stock worth $68,706,000 after purchasing an additional 285,954 shares during the period. 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.