Matador Resources (NYSE:MTDR) Price Target Lowered to $68.00 at Morgan Stanley

Matador Resources (NYSE:MTDR) had its price objective cut by Morgan Stanley from $84.00 to $68.00 in a report published on Thursday,Benzinga reports. They currently have an equal weight rating on the energy company’s stock.

MTDR has been the topic of a number of other research reports. Truist Financial increased their price target on Matador Resources from $75.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. TD Cowen raised their price target on Matador Resources from $74.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $70.00 price objective on shares of Matador Resources in a research report on Wednesday, January 15th. Mizuho reduced their price objective on shares of Matador Resources from $74.00 to $73.00 and set an “outperform” rating on the stock in a research note on Monday, December 16th. Finally, Wolfe Research raised shares of Matador Resources from a “peer perform” rating to an “outperform” rating and set a $72.00 price objective on the stock in a research note on Friday, January 3rd. One analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $73.79.

Matador Resources Stock Down 2.0 %

MTDR opened at $50.46 on Thursday. The stock has a fifty day moving average of $54.28 and a 200-day moving average of $54.88. The company has a market capitalization of $6.32 billion, a P/E ratio of 7.07 and a beta of 3.17. Matador Resources has a fifty-two week low of $43.89 and a fifty-two week high of $71.08. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.84 and a current ratio of 0.93.

Matador Resources (NYSE:MTDR) last posted its quarterly earnings data on Tuesday, February 18th. The energy company reported $1.83 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.88 by ($0.05). Matador Resources had a net margin of 25.26% and a return on equity of 18.52%. The business had revenue of $970.37 million during the quarter, compared to the consensus estimate of $967.10 million. On average, equities analysts expect that Matador Resources will post 8.53 EPS for the current year.

Matador Resources Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were issued a dividend of $0.3125 per share. This represents a $1.25 dividend on an annualized basis and a dividend yield of 2.48%. The ex-dividend date was Friday, February 28th. This is a positive change from Matador Resources’s previous quarterly dividend of $0.25. Matador Resources’s payout ratio is 17.51%.

Insider Buying and Selling

In related news, EVP Glenn W. Stetson acquired 1,000 shares of Matador Resources stock in a transaction dated Friday, February 21st. The stock was bought at an average price of $53.06 per share, with a total value of $53,060.00. Following the transaction, the executive vice president now directly owns 91,680 shares in the company, valued at $4,864,540.80. This represents a 1.10 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Paul W. Harvey acquired 600 shares of the stock in a transaction dated Friday, February 21st. The stock was bought at an average price of $55.20 per share, with a total value of $33,120.00. Following the purchase, the director now directly owns 27,917 shares in the company, valued at $1,541,018.40. This represents a 2.20 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired a total of 21,350 shares of company stock valued at $1,100,769 over the last 90 days. 6.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Matador Resources

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Franklin Resources Inc. increased its holdings in shares of Matador Resources by 12.0% during the third quarter. Franklin Resources Inc. now owns 1,008,421 shares of the energy company’s stock valued at $54,122,000 after acquiring an additional 107,827 shares in the last quarter. Stifel Financial Corp lifted its stake in Matador Resources by 81.2% during the 3rd quarter. Stifel Financial Corp now owns 30,304 shares of the energy company’s stock valued at $1,498,000 after acquiring an additional 13,583 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in 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 worth $8,088,000 after acquiring an additional 20,172 shares during the last quarter. HITE Hedge Asset Management LLC purchased a new stake in shares of Matador Resources in the third quarter valued at about $10,526,000. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Matador Resources by 3.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,491,570 shares of the energy company’s stock valued at $83,916,000 after purchasing an additional 56,644 shares in the last quarter. 91.98% of the stock is owned by institutional investors.

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.