Mizuho Cuts Matador Resources (NYSE:MTDR) Price Target to $73.00

Matador Resources (NYSE:MTDR) had its price objective cut by Mizuho from $74.00 to $73.00 in a research note issued to investors on Monday morning,Benzinga reports. They currently have an outperform rating on the energy company’s stock.

MTDR has been the subject of a number of other reports. Benchmark reaffirmed a “buy” rating and set a $62.00 target price on shares of Matador Resources in a report on Wednesday, October 23rd. Wells Fargo & Company reduced their price objective on Matador Resources from $89.00 to $87.00 and set an “overweight” rating for the company in a research note on Tuesday, October 1st. JPMorgan Chase & Co. decreased their target price on Matador Resources from $77.00 to $71.00 and set an “overweight” rating on the stock in a report on Wednesday, October 30th. Stephens boosted their price target on Matador Resources from $78.00 to $80.00 and gave the company an “overweight” rating in a report on Friday, December 6th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $70.00 price objective on shares of Matador Resources in a research note on Friday, December 6th. Two investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $75.31.

Matador Resources Stock Performance

Shares of MTDR opened at $53.42 on Monday. The firm has a market capitalization of $6.67 billion, a P/E ratio of 7.08 and a beta of 3.26. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.88 and a quick ratio of 0.84. Matador Resources has a one year low of $47.15 and a one year high of $71.08. The business has a fifty day moving average of $55.59 and a 200 day moving average of $56.19.

Matador Resources (NYSE:MTDR) last announced its earnings results on Tuesday, October 22nd. The energy company reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.78 by $0.11. Matador Resources had a return on equity of 20.01% and a net margin of 27.45%. The business had revenue of $770.20 million for the quarter, compared to analysts’ expectations of $836.69 million. During the same period last year, the firm posted $1.86 earnings per share. The business’s revenue for the quarter was up 9.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Matador Resources will post 7.49 EPS for the current year.

Matador Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Friday, November 15th were issued a dividend of $0.25 per share. This is a positive change from Matador Resources’s previous quarterly dividend of $0.20. This represents a $1.00 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date was Friday, November 15th. Matador Resources’s dividend payout ratio (DPR) is 13.25%.

Insider Activity

In other Matador Resources news, EVP Glenn W. Stetson bought 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The stock was purchased at an average cost of $51.33 per share, with a total value of $51,330.00. Following the completion of the acquisition, the executive vice president now owns 85,935 shares in the company, valued at $4,411,043.55. This trade represents a 1.18 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Joseph Wm Foran acquired 2,000 shares of the stock in a transaction on Friday, December 6th. The shares were acquired at an average price of $55.18 per share, with a total value of $110,360.00. Following the transaction, the chief executive officer now directly owns 42,251 shares of the company’s stock, valued at $2,331,410.18. The trade was a 4.97 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased a total of 4,285 shares of company stock worth $232,849 over the last quarter. Insiders own 6.10% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Denver PWM LLC bought a new stake in shares of Matador Resources in the 2nd quarter valued at approximately $27,000. True Wealth Design LLC bought a new stake in Matador Resources in the third quarter worth $37,000. Avior Wealth Management LLC lifted its position in Matador Resources by 329.0% in the third quarter. Avior Wealth Management LLC now owns 828 shares of the energy company’s stock worth $41,000 after buying an additional 635 shares during the last quarter. Quarry LP increased its position in Matador Resources by 47.5% during the second quarter. Quarry LP now owns 779 shares of the energy company’s stock valued at $46,000 after acquiring an additional 251 shares during the last quarter. Finally, Covestor Ltd raised its stake in shares of Matador Resources by 154.8% in the third quarter. Covestor Ltd now owns 1,060 shares of the energy company’s stock valued at $52,000 after acquiring an additional 644 shares during the period. 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.