Matador Resources (NYSE:MTDR) Price Target Cut to $74.00 by Analysts at Wells Fargo & Company

Matador Resources (NYSE:MTDR) had its target price cut by Wells Fargo & Company from $80.00 to $74.00 in a research report report published on Monday morning,Benzinga reports. They currently have an overweight rating on the energy company’s stock.

Other analysts have also recently issued research reports about the stock. KeyCorp dropped their target price on shares of Matador Resources from $72.00 to $60.00 and set an “overweight” rating on the stock in a report on Monday, April 21st. Morgan Stanley dropped their price objective on shares of Matador Resources from $84.00 to $68.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 27th. Mizuho decreased their target price on shares of Matador Resources from $74.00 to $73.00 and set an “outperform” rating for the company in a research note on Tuesday, May 13th. JPMorgan Chase & Co. dropped their price target on Matador Resources from $65.00 to $61.00 and set an “overweight” rating on the stock in a research report on Thursday, April 10th. Finally, Bank of America started coverage on Matador Resources in a research report on Monday, May 19th. They set a “buy” rating and a $56.00 price objective for the company. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, Matador Resources has a consensus rating of “Moderate Buy” and a consensus price target of $69.06.

Matador Resources Trading Down 2.0%

Shares of MTDR opened at $50.60 on Monday. Matador Resources has a 1-year low of $35.19 and a 1-year high of $66.89. The company has a current ratio of 0.93, a quick ratio of 0.84 and a debt-to-equity ratio of 0.61. The firm’s 50-day moving average price is $43.21 and its 200-day moving average price is $50.61. The firm has a market capitalization of $6.33 billion, a price-to-earnings ratio of 7.09 and a beta of 1.46.

Matador Resources (NYSE:MTDR) last posted its quarterly earnings data on Wednesday, April 23rd. The energy company reported $1.99 earnings per share for the quarter, beating the consensus estimate of $1.74 by $0.25. Matador Resources had a return on equity of 18.52% and a net margin of 25.26%. The business had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $980.87 million. During the same period in the previous year, the firm posted $1.71 EPS. The business’s revenue was up 28.7% on a year-over-year basis. Sell-side analysts anticipate that Matador Resources will post 8.53 EPS for the current year.

Matador Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 6th. Investors of record on Friday, May 9th were given a dividend of $0.3125 per share. The ex-dividend date was Friday, May 9th. This represents a $1.25 annualized dividend and a dividend yield of 2.47%. Matador Resources’s dividend payout ratio (DPR) is presently 16.78%.

Matador Resources declared that its Board of Directors has authorized a share buyback program on Wednesday, April 23rd that allows the company to repurchase $400.00 million in shares. This repurchase authorization allows the energy company to reacquire up to 7.8% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s board believes its shares are undervalued.

Insider Buying and Selling at Matador Resources

In other news, CEO Joseph Wm Foran bought 5,000 shares of the stock in a transaction on Tuesday, April 29th. The shares were bought at an average price of $40.86 per share, with a total value of $204,300.00. Following the completion of the acquisition, the chief executive officer now owns 50,756 shares in the company, valued at $2,073,890.16. The trade was a 10.93% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Glenn W. Stetson bought 1,000 shares of the company’s stock in a transaction on Monday, April 28th. The stock was purchased at an average cost of $41.53 per share, for a total transaction of $41,530.00. Following the completion of the transaction, the executive vice president now directly owns 93,180 shares of the company’s stock, valued at approximately $3,869,765.40. The trade was a 1.08% increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 14,850 shares of company stock worth $601,103. Company insiders own 5.80% of the company’s stock.

Hedge Funds Weigh In On Matador Resources

Institutional investors have recently made changes to their positions in the business. Altshuler Shaham Ltd purchased a new stake in Matador Resources during the fourth quarter valued at approximately $25,000. MCF Advisors LLC bought a new stake in shares of Matador Resources during the 1st quarter valued at $26,000. TCTC Holdings LLC increased its stake in shares of Matador Resources by 53.8% in the 4th quarter. TCTC Holdings LLC now owns 500 shares of the energy company’s stock worth $28,000 after purchasing an additional 175 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in Matador Resources by 108.5% in the 4th quarter. EverSource Wealth Advisors LLC now owns 492 shares of the energy company’s stock worth $28,000 after purchasing an additional 256 shares during the period. Finally, Opal Wealth Advisors LLC purchased a new position in Matador Resources during the first quarter valued at $28,000. 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.