KeyCorp Cuts Matador Resources (NYSE:MTDR) Price Target to $52.00

Matador Resources (NYSE:MTDR) had its target price lowered by KeyCorp from $61.00 to $52.00 in a research report sent to investors on Friday,Benzinga reports. KeyCorp currently has an overweight rating on the energy company’s stock.

MTDR has been the topic of a number of other reports. Royal Bank Of Canada raised their price target on Matador Resources from $60.00 to $62.00 and gave the company an “outperform” rating in a report on Wednesday, October 8th. Wells Fargo & Company lowered their price target on Matador Resources from $77.00 to $76.00 and set an “overweight” rating on the stock in a report on Monday, October 13th. UBS Group lowered their price target on Matador Resources from $48.00 to $46.00 and set a “neutral” rating on the stock in a report on Thursday. Mizuho lowered their target price on Matador Resources from $69.00 to $67.00 and set an “outperform” rating on the stock in a report on Friday, October 10th. Finally, Bank of America lowered their target price on Matador Resources from $56.00 to $55.00 and set a “buy” rating on the stock in a report on Thursday, October 16th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Matador Resources presently has an average rating of “Moderate Buy” and a consensus target price of $63.93.

Matador Resources Price Performance

Shares of NYSE MTDR opened at $39.27 on Friday. Matador Resources has a 1-year low of $35.19 and a 1-year high of $64.04. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.73 and a quick ratio of 0.69. The business’s fifty day moving average price is $46.21 and its two-hundred day moving average price is $46.26. The firm has a market capitalization of $4.89 billion, a PE ratio of 6.27 and a beta of 1.41.

Matador Resources (NYSE:MTDR) last issued its earnings results on Tuesday, October 21st. The energy company reported $1.36 earnings per share for the quarter, topping the consensus estimate of $1.22 by $0.14. Matador Resources had a return on equity of 14.80% and a net margin of 20.46%.The firm had revenue of $939.02 million for the quarter, compared to analyst estimates of $893.22 million. During the same period last year, the company earned $1.89 earnings per share. The firm’s revenue for the quarter was up 4.4% on a year-over-year basis. On average, research analysts expect that Matador Resources will post 8.53 EPS for the current year.

Matador Resources Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 5th. Investors of record on Monday, November 10th will be given a $0.375 dividend. This is a positive change from Matador Resources’s previous quarterly dividend of $0.31. The ex-dividend date is Monday, November 10th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 3.8%. Matador Resources’s dividend payout ratio is 19.97%.

Insider Activity at Matador Resources

In related news, COO Christopher P. Calvert purchased 1,000 shares of the firm’s stock in a transaction that occurred on Friday, September 12th. The stock was acquired at an average price of $47.77 per share, for a total transaction of $47,770.00. Following the transaction, the chief operating officer directly owned 37,500 shares of the company’s stock, valued at $1,791,375. This trade represents a 2.74% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Joseph Wm Foran purchased 5,000 shares of the firm’s stock in a transaction that occurred on Friday, August 1st. The stock was bought at an average price of $49.17 per share, with a total value of $245,850.00. Following the transaction, the chief executive officer directly owned 6,606 shares in the company, valued at $324,817.02. This trade represents a 311.33% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased 11,380 shares of company stock worth $549,188 in the last quarter. 5.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Matador Resources

Institutional investors have recently bought and sold shares of the business. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in Matador Resources by 298.5% during the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 534 shares of the energy company’s stock worth $25,000 after acquiring an additional 400 shares during the period. Kestra Investment Management LLC raised its stake in shares of Matador Resources by 225.2% during the 2nd quarter. Kestra Investment Management LLC now owns 517 shares of the energy company’s stock worth $25,000 after purchasing an additional 358 shares in the last quarter. MCF Advisors LLC purchased a new stake in shares of Matador Resources during the 1st quarter worth about $26,000. MassMutual Private Wealth & Trust FSB raised its stake in shares of Matador Resources by 93.0% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 554 shares of the energy company’s stock worth $26,000 after purchasing an additional 267 shares in the last quarter. Finally, Allworth Financial LP raised its stake in shares of Matador Resources by 182.0% during the 2nd quarter. Allworth Financial LP now owns 564 shares of the energy company’s stock worth $27,000 after purchasing an additional 364 shares in the last quarter. 91.98% of the stock is currently owned by institutional investors and hedge funds.

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.