Matador Resources (NYSE:MTDR) Price Target Lowered to $69.00 at Mizuho

Matador Resources (NYSE:MTDR) had its target price trimmed by Mizuho from $73.00 to $69.00 in a research note published on Monday morning,Benzinga reports. The brokerage currently has an outperform rating on the energy company’s stock.

MTDR has been the topic of a number of other reports. William Blair initiated coverage on Matador Resources in a research report on Monday, August 25th. They issued an “outperform” rating on the stock. KeyCorp decreased their target price on Matador Resources from $62.00 to $61.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 3rd. UBS Group decreased their target price on Matador Resources from $49.00 to $48.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 20th. TD Cowen upgraded Matador Resources to a “strong-buy” rating in a research report on Monday, July 7th. Finally, Wells Fargo & Company decreased their price objective on Matador Resources from $80.00 to $74.00 and set an “overweight” rating on the stock in a research report on Monday, June 16th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, Matador Resources has a consensus rating of “Moderate Buy” and a consensus price target of $67.27.

Matador Resources Stock Performance

NYSE MTDR opened at $46.50 on Monday. The company has a quick ratio of 0.81, a current ratio of 0.85 and a debt-to-equity ratio of 0.57. The firm has a market cap of $5.79 billion, a price-to-earnings ratio of 6.81 and a beta of 1.49. Matador Resources has a twelve month low of $35.19 and a twelve month high of $64.04. The business has a 50-day moving average price of $49.18 and a 200-day moving average price of $46.82.

Matador Resources (NYSE:MTDR) last posted its earnings results on Tuesday, July 22nd. The energy company reported $1.53 EPS for the quarter, topping analysts’ consensus estimates of $1.29 by $0.24. The company had revenue of $895.31 million for the quarter, compared to the consensus estimate of $892.86 million. Matador Resources had a return on equity of 16.53% and a net margin of 22.57%.The firm’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same period in the previous year, the business earned $2.05 earnings per share. As a group, equities research analysts predict that Matador Resources will post 8.53 EPS for the current fiscal year.

Matador Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 5th. Shareholders of record on Friday, August 15th were given a dividend of $0.3125 per share. The ex-dividend date was Friday, August 15th. This represents a $1.25 dividend on an annualized basis and a yield of 2.7%. Matador Resources’s dividend payout ratio is 18.30%.

Insider Transactions at Matador Resources

In other Matador Resources news, CEO Joseph Wm Foran purchased 2,000 shares of Matador Resources stock in a transaction dated Friday, September 12th. The shares were purchased at an average cost of $48.15 per share, for a total transaction of $96,300.00. Following the completion of the acquisition, the chief executive officer owned 8,025 shares in the company, valued at $386,403.75. This represents a 33.20% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP William Thomas Elsener purchased 600 shares of Matador Resources stock in a transaction dated Thursday, September 11th. The stock was acquired at an average price of $48.46 per share, for a total transaction of $29,076.00. Following the completion of the acquisition, the executive vice president owned 112,069 shares of the company’s stock, valued at approximately $5,430,863.74. This trade represents a 0.54% increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 10,880 shares of company stock worth $524,928. 5.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Matador Resources

Several hedge funds and other institutional investors have recently modified their holdings of MTDR. Adage Capital Partners GP L.L.C. raised its holdings in shares of Matador Resources by 143.1% in the second quarter. Adage Capital Partners GP L.L.C. now owns 2,556,472 shares of the energy company’s stock worth $121,995,000 after buying an additional 1,505,000 shares during the period. LSV Asset Management raised its holdings in shares of Matador Resources by 45.7% in the second quarter. LSV Asset Management now owns 3,334,775 shares of the energy company’s stock worth $159,135,000 after buying an additional 1,045,396 shares during the period. Vanguard Group Inc. raised its holdings in shares of Matador Resources by 7.6% in the first quarter. Vanguard Group Inc. now owns 13,511,643 shares of the energy company’s stock worth $690,310,000 after buying an additional 956,090 shares during the period. Encompass Capital Advisors LLC purchased a new stake in shares of Matador Resources in the second quarter worth approximately $37,194,000. Finally, Nuveen LLC purchased a new stake in shares of Matador Resources in the first quarter worth approximately $35,715,000. 91.98% of the stock is currently owned by hedge funds and other institutional investors.

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.