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

Matador Resources (NYSE:MTDR) had its price target decreased by Truist Financial from $86.00 to $75.00 in a research note issued to investors on Monday morning, Benzinga reports. Truist Financial currently has a buy rating on the energy company’s stock.

A number of other analysts also recently commented on MTDR. Wells Fargo & Company increased their price target on Matador Resources from $88.00 to $89.00 and gave the company an overweight rating in a research report on Monday, July 29th. Benchmark reaffirmed a buy rating and set a $62.00 price target on shares of Matador Resources in a research report on Wednesday, July 24th. JPMorgan Chase & Co. decreased their target price on Matador Resources from $83.00 to $76.00 and set an overweight rating for the company in a research report on Thursday, September 12th. TD Cowen raised their target price on Matador Resources from $85.00 to $87.00 and gave the stock a buy rating in a research report on Wednesday, July 24th. Finally, Royal Bank of Canada reissued an outperform rating and issued a $75.00 target price on shares of Matador Resources in a research report on Friday. Two analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Matador Resources presently has a consensus rating of Moderate Buy and a consensus price target of $75.83.

Matador Resources Stock Up 0.1 %

MTDR stock opened at $49.41 on Monday. Matador Resources has a twelve month low of $47.15 and a twelve month high of $71.08. The company has a quick ratio of 0.82, a current ratio of 0.86 and a debt-to-equity ratio of 0.41. The stock’s 50 day moving average is $54.70 and its 200-day moving average is $60.09. The firm has a market capitalization of $6.17 billion, a PE ratio of 6.77 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 EPS for the quarter, beating analysts’ consensus estimates of $1.76 by $0.29. The company had revenue of $847.14 million during the quarter, compared to the consensus estimate of $822.55 million. Matador Resources had a return on equity of 21.12% and a net margin of 29.01%. Matador Resources’s revenue was up 32.8% on a year-over-year basis. During the same period last year, the business posted $1.42 earnings per share. Sell-side analysts expect that Matador Resources will post 7.63 EPS for the current fiscal year.

Matador Resources Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Thursday, August 15th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.62%. The ex-dividend date of this dividend was Thursday, August 15th. Matador Resources’s payout ratio is currently 10.96%.

Insider Transactions at Matador Resources

In related news, Director Robert Gaines Baty purchased 500 shares of the business’s stock in a transaction dated Friday, September 13th. The stock was purchased at an average cost of $50.58 per share, with a total value of $25,290.00. Following the completion of the acquisition, the director now directly owns 67,617 shares of the company’s stock, valued at $3,420,067.86. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Matador Resources news, Director Robert Gaines Baty acquired 500 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The stock was bought at an average price of $50.58 per share, with a total value of $25,290.00. Following the completion of the purchase, the director now owns 67,617 shares of the company’s stock, valued at $3,420,067.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 acquired at an average cost of $49.97 per share, with a total value of $124,925.00. Following the purchase, the chief executive officer now directly owns 40,251 shares of the company’s stock, valued at approximately $2,011,342.47. The disclosure for this purchase can be found here. Insiders purchased 12,300 shares of company stock valued at $634,615 over the last three months. Company 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 business. Janney Montgomery Scott LLC bought a new stake in Matador Resources during the first quarter valued at $828,000. Prevail Innovative Wealth Advisors LLC lifted its stake in Matador Resources by 28.6% during the first quarter. Prevail Innovative Wealth Advisors LLC now owns 37,163 shares of the energy company’s stock worth $2,481,000 after purchasing an additional 8,254 shares during the last quarter. Burford Brothers Inc. bought a new stake in Matador Resources during the fourth quarter worth about $1,535,000. Goldman Sachs Group Inc. lifted its stake in Matador Resources by 31.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,206,041 shares of the energy company’s stock worth $125,435,000 after purchasing an additional 531,504 shares during the last quarter. Finally, Capstone Investment Advisors LLC lifted its stake in Matador Resources by 1,029.1% during the first quarter. Capstone Investment Advisors LLC now owns 76,032 shares of the energy company’s stock worth $5,077,000 after purchasing an additional 69,298 shares during the last quarter. 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.