Truist Financial Cuts Matador Resources (NYSE:MTDR) Price Target to $63.00

Matador Resources (NYSE:MTDR) had its price objective cut by Truist Financial from $67.00 to $63.00 in a research note issued to investors on Thursday morning,Benzinga reports. They currently have a buy rating on the energy company’s stock.

Several other research firms also recently weighed in on MTDR. Weiss Ratings downgraded Matador Resources from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, May 12th. Zacks Research cut shares of Matador Resources from a “strong-buy” rating to a “hold” rating in a report on Monday, May 25th. Morgan Stanley reduced their price target on shares of Matador Resources from $75.00 to $66.00 and set an “equal weight” rating on the stock in a research note on Monday, June 29th. BMO Capital Markets lifted their price objective on shares of Matador Resources from $65.00 to $72.00 and gave the company an “outperform” rating in a report on Monday, April 6th. Finally, Wells Fargo & Company boosted their price objective on shares of Matador Resources from $54.00 to $63.00 and gave the company an “equal weight” rating in a research report on Thursday, April 16th. Eleven investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, Matador Resources presently has a consensus rating of “Moderate Buy” and a consensus price target of $64.08.

Matador Resources Trading Up 1.4%

Shares of NYSE MTDR opened at $53.81 on Thursday. Matador Resources has a fifty-two week low of $37.14 and a fifty-two week high of $66.84. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.70 and a current ratio of 0.73. The company has a market cap of $6.68 billion, a price-to-earnings ratio of 13.83 and a beta of 0.74. The business’s 50 day moving average price is $53.56 and its 200-day moving average price is $52.83.

Matador Resources (NYSE:MTDR) last posted its quarterly earnings data on Wednesday, May 6th. The energy company reported $1.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.24 by $0.29. The company had revenue of $941.60 million during the quarter, compared to analysts’ expectations of $871.57 million. Matador Resources had a return on equity of 11.20% and a net margin of 14.41%.Matador Resources’s revenue was down 33.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.99 EPS. On average, sell-side analysts expect that Matador Resources will post 6.99 earnings per share for the current year.

Matador Resources Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Friday, May 8th were given a dividend of $0.375 per share. The ex-dividend date of this dividend was Friday, May 8th. This represents a $1.50 dividend on an annualized basis and a yield of 2.8%. Matador Resources’s payout ratio is 38.56%.

Insiders Place Their Bets

In other news, CFO Christopher P. Calvert acquired 1,500 shares of the firm’s stock in a transaction that occurred on Friday, May 29th. The stock was purchased at an average cost of $53.24 per share, for a total transaction of $79,860.00. Following the completion of the acquisition, the chief financial officer directly owned 41,500 shares of the company’s stock, valued at $2,209,460. The trade was a 3.75% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Joseph Wm Foran acquired 2,000 shares of the stock in a transaction that occurred on Tuesday, June 9th. The stock was acquired at an average cost of $53.07 per share, with a total value of $106,140.00. Following the completion of the purchase, the chief executive officer owned 11,479 shares of the company’s stock, valued at $609,190.53. This trade represents a 21.10% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last ninety days, insiders bought 11,907 shares of company stock worth $635,712. 5.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in MTDR. Kestra Investment Management LLC lifted its position in shares of Matador Resources by 225.2% in 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 during the period. V Square Quantitative Management LLC purchased a new position in Matador Resources during the first quarter valued at approximately $27,000. Measured Wealth Private Client Group LLC bought a new position in Matador Resources in the third quarter worth approximately $35,000. Center for Financial Planning Inc. bought a new position in Matador Resources in the first quarter worth approximately $41,000. Finally, Gilpin Wealth Management LLC purchased a new stake in Matador Resources during the fourth quarter worth $42,000. Hedge funds and other institutional investors own 91.98% of the company’s stock.

Matador Resources Company Profile

Matador Resources Company is an independent energy firm primarily engaged in the exploration, development and production of oil, natural gas liquids (NGLs) and natural gas. The company focuses on upstream operations, utilizing horizontal drilling and hydraulic fracturing techniques to unlock hydrocarbons from key reservoirs. Its asset base includes both operated and non?operated positions, with a particular emphasis on the Permian Basin, one of the most prolific oil-producing regions in North America.

Matador’s core operations are concentrated in the Delaware Basin segment of the Permian Basin, where it holds substantial acreage in both Reeves and Culberson counties in West Texas and Eddy and Lea counties in New Mexico.