Matador Resources (NYSE:MTDR) PT Lowered to $81.00 at Stephens

Matador Resources (NYSE:MTDR) had its target price decreased by Stephens from $83.00 to $81.00 in a report issued on Wednesday morning, Benzinga reports. Stephens currently has an overweight rating on the energy company’s stock.

A number of other brokerages have also recently commented on MTDR. Wells Fargo & Company raised their target price on Matador Resources from $85.00 to $88.00 and gave the stock an overweight rating in a report on Wednesday, July 17th. Wolfe Research assumed coverage on Matador Resources in a report on Thursday, July 18th. They issued a peer perform rating on the stock. Truist Financial decreased their target price on Matador Resources from $91.00 to $86.00 and set a buy rating on the stock in a report on Monday, July 22nd. Benchmark reaffirmed a buy rating and issued a $62.00 target price on shares of Matador Resources in a report on Wednesday. Finally, JPMorgan Chase & Co. raised their price target on Matador Resources from $76.00 to $77.00 and gave the company an overweight rating in a report on Thursday, April 11th. Two analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, Matador Resources has an average rating of Moderate Buy and an average target price of $78.08.

Matador Resources Stock Performance

MTDR stock opened at $61.44 on Wednesday. The company has a market cap of $7.67 billion, a P/E ratio of 8.42 and a beta of 3.29. Matador Resources has a 1 year low of $51.72 and a 1 year high of $71.08. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.86 and a quick ratio of 0.84. The stock’s fifty day moving average price is $60.27 and its 200-day moving average price is $61.29.

Matador Resources (NYSE:MTDR) last released its quarterly earnings results on Tuesday, July 23rd. The energy company reported $2.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.76 by $0.29. The firm had revenue of $847.14 million for 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%. The company’s revenue for the quarter was up 32.8% on a year-over-year basis. During the same period last year, the business posted $1.42 EPS. On average, equities analysts forecast that Matador Resources will post 7.74 earnings per share for the current year.

Matador Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Stockholders of record on Thursday, August 15th will be given a dividend of $0.20 per share. The ex-dividend date is Thursday, August 15th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.30%. Matador Resources’s payout ratio is 10.96%.

Insider Activity

In other news, EVP Bryan A. Erman acquired 1,750 shares of the business’s stock in a transaction dated Friday, June 14th. The stock was purchased at an average price of $55.90 per share, for a total transaction of $97,825.00. Following the completion of the transaction, the executive vice president now directly owns 1,750 shares in the company, valued at approximately $97,825. The acquisition was disclosed in a filing with the SEC, which is available through this link. Company insiders own 6.10% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in MTDR. Goldman Sachs Group Inc. grew its position in shares of 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 valued at $125,435,000 after purchasing an additional 531,504 shares in the last quarter. Element Capital Management LLC purchased a new position in Matador Resources in the first quarter worth about $28,572,000. Public Employees Retirement Association of Colorado grew its position in Matador Resources by 14,874.4% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 427,520 shares of the energy company’s stock worth $24,309,000 after acquiring an additional 424,665 shares in the last quarter. Wellington Management Group LLP grew its position in Matador Resources by 44.8% in the fourth quarter. Wellington Management Group LLP now owns 1,065,291 shares of the energy company’s stock worth $60,572,000 after acquiring an additional 329,522 shares in the last quarter. Finally, Principal Financial Group Inc. grew its position in Matador Resources by 38.5% in the first quarter. Principal Financial Group Inc. now owns 1,028,997 shares of the energy company’s stock worth $68,706,000 after acquiring an additional 285,954 shares in the last quarter. Hedge funds and other 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.