JPMorgan Chase & Co. Cuts Matador Resources (NYSE:MTDR) Price Target to $71.00

Matador Resources (NYSE:MTDR) had its price target reduced by JPMorgan Chase & Co. from $77.00 to $71.00 in a research note released on Wednesday, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the energy company’s stock.

MTDR has been the topic of a number of other reports. Truist Financial decreased their target price on Matador Resources from $86.00 to $75.00 and set a “buy” rating on the stock in a report on Monday, September 30th. Mizuho decreased their target price on Matador Resources from $85.00 to $74.00 and set an “outperform” rating on the stock in a report on Monday, September 16th. BMO Capital Markets lifted their target price on Matador Resources from $75.00 to $78.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. Royal Bank of Canada restated an “outperform” rating and issued a $70.00 target price on shares of Matador Resources in a report on Thursday, October 24th. Finally, TD Cowen lifted their price target on Matador Resources from $85.00 to $87.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $74.92.

Matador Resources Stock Down 1.0 %

Shares of MTDR stock opened at $51.59 on Wednesday. Matador Resources has a 1 year low of $47.15 and a 1 year high of $71.08. The stock has a market cap of $6.44 billion, a PE ratio of 6.83 and a beta of 3.26. The business’s fifty day moving average is $52.34 and its 200-day moving average is $57.70. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.84 and a current ratio of 0.88.

Matador Resources (NYSE:MTDR) last issued its earnings results on Tuesday, October 22nd. The energy company reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.78 by $0.11. The business had revenue of $770.20 million for the quarter, compared to analysts’ expectations of $836.69 million. Matador Resources had a return on equity of 20.01% and a net margin of 27.45%. The company’s quarterly revenue was up 9.8% on a year-over-year basis. During the same period in the previous year, the firm posted $1.86 EPS. Equities analysts expect that Matador Resources will post 7.45 earnings per share for the current fiscal year.

Matador Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 15th will be given a dividend of $0.25 per share. This is a boost from Matador Resources’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.00 dividend on an annualized basis and a yield of 1.94%. Matador Resources’s dividend payout ratio (DPR) is presently 10.60%.

Insider Activity at Matador Resources

In other news, CEO Joseph Wm Foran acquired 2,500 shares of Matador Resources stock in a transaction that occurred on Friday, September 6th. The stock was purchased at an average price of $51.47 per share, with a total value of $128,675.00. Following the completion of the transaction, the chief executive officer now owns 37,751 shares in the company, valued at approximately $1,943,043.97. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, EVP Glenn W. Stetson purchased 1,000 shares of Matador Resources stock in a transaction on Wednesday, October 30th. The stock was bought at an average price of $51.33 per share, with a total value of $51,330.00. Following the completion of the transaction, the executive vice president now directly owns 85,935 shares of the company’s stock, valued at approximately $4,411,043.55. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Joseph Wm Foran purchased 2,500 shares of Matador Resources stock in a transaction on Friday, September 6th. The stock was bought at an average cost of $51.47 per share, with a total value of $128,675.00. Following the transaction, the chief executive officer now directly owns 37,751 shares of the company’s stock, valued at approximately $1,943,043.97. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 11,105 shares of company stock valued at $562,306. Insiders own 6.10% of the company’s stock.

Institutional Trading of Matador Resources

A number of institutional investors and hedge funds have recently made changes to their positions in MTDR. Denver PWM LLC acquired a new stake in shares of Matador Resources in the second quarter worth about $27,000. Covestor Ltd increased its stake in shares of Matador Resources by 121.4% in the first quarter. Covestor Ltd now owns 414 shares of the energy company’s stock worth $28,000 after purchasing an additional 227 shares during the period. Quarry LP increased its stake in shares of Matador Resources by 47.5% in the second quarter. Quarry LP now owns 779 shares of the energy company’s stock worth $46,000 after purchasing an additional 251 shares during the period. Advisors Asset Management Inc. increased its stake in shares of Matador Resources by 191.8% in the first quarter. Advisors Asset Management Inc. now owns 709 shares of the energy company’s stock worth $47,000 after purchasing an additional 466 shares during the period. Finally, GAMMA Investing LLC increased its stake in shares of Matador Resources by 28.7% in the third quarter. GAMMA Investing LLC now owns 1,403 shares of the energy company’s stock worth $69,000 after purchasing an additional 313 shares during the period. Institutional investors and hedge funds 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.