Matador Resources (NYSE:MTDR) Price Target Lowered to $87.00 at Wells Fargo & Company

Matador Resources (NYSE:MTDR) had its price objective cut by Wells Fargo & Company from $90.00 to $87.00 in a research report report published on Tuesday,Benzinga reports. They currently have an overweight rating on the energy company’s stock.

MTDR has been the topic of several other reports. Raymond James cut their target price on shares of Matador Resources from $77.00 to $67.00 and set an “outperform” rating on the stock in a research note on Monday, March 10th. Morgan Stanley began coverage on Matador Resources in a research report on Friday, January 10th. They issued an “equal weight” rating and a $78.00 target price for the company. Mizuho cut their price target on Matador Resources from $74.00 to $73.00 and set an “outperform” rating on the stock in a report on Monday, December 16th. JPMorgan Chase & Co. lowered their target price on Matador Resources from $76.00 to $65.00 and set an “overweight” rating on the stock in a research report on Thursday, March 13th. Finally, Stephens lifted their price target on shares of Matador Resources from $78.00 to $80.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. One equities research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Matador Resources currently has an average rating of “Moderate Buy” and an average price target of $74.50.

Matador Resources Stock Performance

Shares of Matador Resources stock opened at $52.43 on Tuesday. The business has a 50-day moving average price of $55.00 and a two-hundred day moving average price of $54.88. Matador Resources has a 1-year low of $43.89 and a 1-year high of $71.08. The company has a current ratio of 0.93, a quick ratio of 0.84 and a debt-to-equity ratio of 0.61. The company has a market cap of $6.56 billion, a P/E ratio of 7.34 and a beta of 3.17.

Matador Resources (NYSE:MTDR) last released 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 business had revenue of $970.37 million for the quarter, compared to analyst estimates of $967.10 million. Matador Resources had a return on equity of 18.52% and a net margin of 25.26%. As a group, analysts anticipate that Matador Resources will post 8.53 EPS for the current year.

Matador Resources Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were paid a $0.3125 dividend. This represents a $1.25 dividend on an annualized basis and a dividend yield of 2.38%. The ex-dividend date was Friday, February 28th. This is an increase from Matador Resources’s previous quarterly dividend of $0.25. Matador Resources’s payout ratio is presently 17.51%.

Insider Activity

In related news, Director Paul W. Harvey purchased 600 shares of the business’s stock in a transaction that occurred on Friday, February 21st. The shares were bought at an average cost of $55.20 per share, with a total value of $33,120.00. Following the acquisition, the director now owns 27,917 shares of the company’s stock, valued at $1,541,018.40. This represents a 2.20 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Christopher P. Calvert acquired 1,300 shares of the stock in a transaction on Friday, February 21st. The stock was bought at an average cost of $55.17 per share, for a total transaction of $71,721.00. Following the transaction, the chief operating officer now owns 34,000 shares of the company’s stock, valued at approximately $1,875,780. This trade represents a 3.98 % increase in their position. The disclosure for this purchase can be found here. Insiders acquired a total of 21,350 shares of company stock valued at $1,100,769 over the last three months. Corporate insiders own 6.10% of the company’s stock.

Institutional Trading of Matador Resources

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

Matador Resources Company Profile

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.