Matador Resources (NYSE:MTDR) Price Target Cut to $76.00 by Analysts at JPMorgan Chase & Co.

Matador Resources (NYSE:MTDR) had its price target reduced by JPMorgan Chase & Co. from $83.00 to $76.00 in a research note released on Thursday, Benzinga reports. They currently have an overweight rating on the energy company’s stock.

MTDR has been the subject of several other reports. Wolfe Research began coverage on Matador Resources in a research note on Thursday, July 18th. They set a peer perform rating for the company. TD Cowen increased their price target on Matador Resources from $85.00 to $87.00 and gave the stock a buy rating in a report on Wednesday, July 24th. Royal Bank of Canada reissued an outperform rating and issued a $75.00 price objective on shares of Matador Resources in a research note on Thursday, July 25th. Truist Financial cut their price objective on shares of Matador Resources from $91.00 to $86.00 and set a buy rating for the company in a research report on Monday, July 22nd. Finally, Wells Fargo & Company lifted their target price on shares of Matador Resources from $88.00 to $89.00 and gave the company an overweight rating in a report on Monday, July 29th. Two equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, Matador Resources presently has a consensus rating of Moderate Buy and a consensus target price of $78.08.

Matador Resources Stock Up 0.4 %

MTDR stock opened at $49.84 on Thursday. The company’s 50 day moving average is $57.26 and its two-hundred day moving average is $61.14. Matador Resources has a twelve month low of $48.22 and a twelve month high of $71.08. The company has a current ratio of 0.86, a quick ratio of 0.82 and a debt-to-equity ratio of 0.41. The stock has a market cap of $6.22 billion, a P/E ratio of 6.83 and a beta of 3.27.

Matador Resources (NYSE:MTDR) last released its quarterly earnings results on Tuesday, July 23rd. The energy company reported $2.05 EPS for the quarter, topping the consensus estimate of $1.76 by $0.29. The company had revenue of $847.14 million for the quarter, compared to analyst estimates of $822.55 million. Matador Resources had a return on equity of 21.12% and a net margin of 29.01%. The firm’s revenue was up 32.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.42 earnings per share. Research analysts expect that Matador Resources will post 7.83 earnings per share for the current fiscal year.

Matador Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Thursday, August 15th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $0.80 annualized dividend and a dividend yield of 1.61%. Matador Resources’s dividend payout ratio is currently 10.96%.

Insider Buying and Selling at Matador Resources

In related news, CAO Robert T. Macalik purchased 500 shares of the business’s stock in a transaction dated Friday, August 2nd. The stock was bought at an average cost of $54.50 per share, with a total value of $27,250.00. Following the completion of the acquisition, the chief accounting officer now directly owns 29,300 shares in the company, valued at approximately $1,596,850. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CAO Robert T. Macalik purchased 500 shares of the stock in a transaction dated Friday, August 2nd. The stock was acquired at an average cost of $54.50 per share, for a total transaction of $27,250.00. Following the completion of the acquisition, the chief accounting officer now directly owns 29,300 shares in the company, valued at approximately $1,596,850. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Joseph Wm Foran acquired 2,000 shares of the business’s stock in a transaction dated Friday, August 2nd. The stock was purchased at an average cost of $55.96 per share, with a total value of $111,920.00. Following the transaction, the chief executive officer now owns 35,251 shares of the company’s stock, valued at $1,972,645.96. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 11,800 shares of company stock worth $609,325. 6.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Matador Resources

A number of hedge funds and other institutional investors have recently made changes to their positions in MTDR. Essex Investment Management Co. LLC raised its holdings in shares of Matador Resources by 0.5% in the 1st quarter. Essex Investment Management Co. LLC now owns 37,532 shares of the energy company’s stock worth $2,506,000 after purchasing an additional 169 shares during the period. Securian Asset Management Inc. raised its stake in shares of Matador Resources by 1.9% in the 2nd quarter. Securian Asset Management Inc. now owns 9,255 shares of the energy company’s stock valued at $552,000 after acquiring an additional 170 shares during the period. Raymond James Trust N.A. boosted its position in Matador Resources by 3.6% during the 2nd quarter. Raymond James Trust N.A. now owns 5,714 shares of the energy company’s stock worth $341,000 after purchasing an additional 198 shares during the period. Covestor Ltd increased its holdings in Matador Resources by 121.4% in the 1st quarter. Covestor Ltd now owns 414 shares of the energy company’s stock valued at $28,000 after purchasing an additional 227 shares in the last quarter. Finally, Fifth Third Bancorp raised its position in Matador Resources by 16.6% in the second quarter. Fifth Third Bancorp now owns 1,709 shares of the energy company’s stock valued at $102,000 after purchasing an additional 243 shares during the period. Hedge funds and other 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.