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

Matador Resources (NYSE:MTDR) had its price target cut by Mizuho from $74.00 to $73.00 in a report published on Tuesday morning,Benzinga reports. They currently have an outperform rating on the energy company’s stock.

Several other equities analysts have also commented on the company. Morgan Stanley dropped their target price on Matador Resources from $84.00 to $68.00 and set an “equal weight” rating for the company in a research note on Thursday, March 27th. Benchmark reissued a “buy” rating and set a $62.00 price target on shares of Matador Resources in a research report on Friday, January 17th. Raymond James lowered their price target on Matador Resources from $77.00 to $67.00 and set an “outperform” rating for the company in a research report on Monday, March 10th. Truist Financial boosted their price target on Matador Resources from $75.00 to $80.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Finally, Royal Bank of Canada decreased their target price on Matador Resources from $70.00 to $62.00 and set an “outperform” rating for the company in a research report on Friday, April 11th. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $70.33.

Matador Resources Stock Performance

NYSE MTDR opened at $44.42 on Tuesday. Matador Resources has a fifty-two week low of $35.19 and a fifty-two week high of $66.89. The stock has a market cap of $5.56 billion, a price-to-earnings ratio of 6.22 and a beta of 1.47. The business has a fifty day moving average of $44.29 and a 200-day moving average of $52.41. The company has a quick ratio of 0.84, a current ratio of 0.93 and a debt-to-equity ratio of 0.61.

Matador Resources (NYSE:MTDR) last released its earnings results on Wednesday, April 23rd. The energy company reported $1.99 EPS for the quarter, beating the consensus estimate of $1.74 by $0.25. The firm had revenue of $1.01 billion during the quarter, compared to analyst estimates of $980.87 million. Matador Resources had a return on equity of 18.52% and a net margin of 25.26%. The business’s quarterly revenue was up 28.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.71 earnings per share. As a group, analysts predict that Matador Resources will post 8.53 earnings per share for the current fiscal year.

Matador Resources Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 9th will be issued a $0.3125 dividend. This represents a $1.25 dividend on an annualized basis and a yield of 2.81%. The ex-dividend date of this dividend is Friday, May 9th. Matador Resources’s dividend payout ratio is currently 16.78%.

Matador Resources declared that its Board of Directors has approved a share repurchase plan 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 plans are usually a sign that the company’s board believes its stock is undervalued.

Insider Activity at Matador Resources

In other Matador Resources news, EVP Glenn W. Stetson purchased 1,000 shares of Matador Resources stock in a transaction that occurred on Friday, February 21st. The stock was purchased at an average price of $53.06 per share, with a total value of $53,060.00. Following the completion of the acquisition, the executive vice president now owns 91,680 shares of the company’s stock, valued at approximately $4,864,540.80. This trade represents a 1.10% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Paul W. Harvey purchased 600 shares of Matador Resources stock in a transaction that occurred on Friday, February 21st. The stock was acquired at an average cost of $55.20 per share, with a total value of $33,120.00. Following the acquisition, the director now directly owns 27,917 shares of the company’s stock, valued at $1,541,018.40. The trade was a 2.20% increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 36,200 shares of company stock valued at $1,701,872. Insiders own 6.10% of the company’s stock.

Institutional Trading of Matador Resources

Institutional investors and hedge funds have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC raised its stake in Matador Resources by 16.9% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 139,254 shares of the energy company’s stock valued at $8,088,000 after buying an additional 20,172 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Matador Resources by 3.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,491,570 shares of the energy company’s stock valued at $83,916,000 after buying an additional 56,644 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in Matador Resources by 49.7% during the fourth quarter. Envestnet Asset Management Inc. now owns 300,301 shares of the energy company’s stock valued at $16,895,000 after buying an additional 99,711 shares in the last quarter. Shaker Investments LLC OH acquired a new stake in Matador Resources during the fourth quarter valued at approximately $546,000. Finally, Fisher Asset Management LLC raised its stake in Matador Resources by 23.0% during the fourth quarter. Fisher Asset Management LLC now owns 785,610 shares of the energy company’s stock valued at $44,198,000 after buying an additional 146,922 shares in the last quarter. 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.