JPMorgan Chase & Co. Issues Pessimistic Forecast for Matador Resources (NYSE:MTDR) Stock Price

Matador Resources (NYSE:MTDR) had its price objective reduced by JPMorgan Chase & Co. from $77.00 to $71.00 in a research report released on Wednesday, Benzinga reports. They currently have an overweight rating on the energy company’s stock.

Several other brokerages have also issued reports on MTDR. Truist Financial lowered their price target on Matador Resources from $86.00 to $75.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. Royal Bank of Canada reiterated an “outperform” rating and issued a $70.00 price objective on shares of Matador Resources in a research note on Thursday, October 24th. BMO Capital Markets upped their price objective on Matador Resources from $75.00 to $78.00 and gave the company an “outperform” rating in a research note on Friday, October 4th. Benchmark reiterated a “buy” rating and issued a $62.00 price objective on shares of Matador Resources in a research note on Wednesday, October 23rd. Finally, KeyCorp lowered their price objective on Matador Resources from $76.00 to $72.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 16th. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, Matador Resources has a consensus rating of “Moderate Buy” and a consensus target price of $74.92.

Matador Resources Trading Down 1.0 %

Shares of MTDR opened at $51.59 on Wednesday. Matador Resources has a 12-month low of $47.15 and a 12-month high of $71.08. The company has a quick ratio of 0.84, a current ratio of 0.88 and a debt-to-equity ratio of 0.71. The firm has a market capitalization of $6.44 billion, a price-to-earnings ratio of 6.83 and a beta of 3.26. The stock’s 50-day moving average price is $52.34 and its 200 day moving average price is $57.70.

Matador Resources (NYSE:MTDR) last issued its quarterly earnings results on Tuesday, October 22nd. The energy company reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.78 by $0.11. Matador Resources had a return on equity of 20.01% and a net margin of 27.45%. The firm had revenue of $770.20 million for the quarter, compared to analyst estimates of $836.69 million. During the same period in the previous year, the company posted $1.86 earnings per share. The company’s quarterly revenue was up 9.8% compared to the same quarter last year. As a group, research analysts predict that Matador Resources will post 7.45 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, December 6th. Shareholders of record on Friday, November 15th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.94%. This is a positive change from Matador Resources’s previous quarterly dividend of $0.20. The ex-dividend date is Friday, November 15th. Matador Resources’s dividend payout ratio (DPR) is presently 10.60%.

Insider Buying and Selling at Matador Resources

In other news, CAO Robert T. Macalik acquired 500 shares of the firm’s stock in a transaction on Friday, September 6th. The shares were purchased at an average cost of $50.25 per share, for a total transaction of $25,125.00. Following the transaction, the chief accounting officer now owns 29,800 shares of the company’s stock, valued at approximately $1,497,450. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO Joseph Wm Foran purchased 2,500 shares of Matador Resources stock in a transaction dated Friday, September 6th. The shares were acquired at an average cost of $51.47 per share, for a total transaction of $128,675.00. Following the transaction, the chief executive officer now directly owns 37,751 shares of the company’s stock, valued at approximately $1,943,043.97. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CAO Robert T. Macalik purchased 500 shares of Matador Resources stock in a transaction dated Friday, September 6th. The stock was bought at an average price of $50.25 per share, for a total transaction of $25,125.00. Following the completion of the transaction, the chief accounting officer now directly owns 29,800 shares in the company, valued at $1,497,450. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 11,105 shares of company stock worth $562,306. Insiders own 6.10% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Denver PWM LLC bought a new position in shares of Matador Resources in the 2nd quarter worth $27,000. Covestor Ltd boosted its position in shares of Matador Resources by 121.4% in the 1st quarter. Covestor Ltd now owns 414 shares of the energy company’s stock worth $28,000 after purchasing an additional 227 shares during the last quarter. Quarry LP boosted its position in shares of Matador Resources by 47.5% in the 2nd quarter. Quarry LP now owns 779 shares of the energy company’s stock worth $46,000 after purchasing an additional 251 shares during the last quarter. Advisors Asset Management Inc. boosted its position in shares of Matador Resources by 191.8% in the 1st quarter. Advisors Asset Management Inc. now owns 709 shares of the energy company’s stock worth $47,000 after purchasing an additional 466 shares during the last quarter. Finally, GAMMA Investing LLC boosted its position in shares of Matador Resources by 28.7% in the 3rd quarter. GAMMA Investing LLC now owns 1,403 shares of the energy company’s stock worth $69,000 after purchasing an additional 313 shares during the last quarter. 91.98% of the stock is currently owned by institutional investors.

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.