Wells Fargo & Company Cuts Matador Resources (NYSE:MTDR) Price Target to $87.00

Matador Resources (NYSE:MTDR) had its price objective cut by Wells Fargo & Company from $90.00 to $87.00 in a report issued on Tuesday morning,Benzinga reports. They currently have an overweight rating on the energy company’s stock.

Other equities analysts also recently issued reports about the stock. Wolfe Research raised shares of Matador Resources from a “peer perform” rating to an “outperform” rating and set a $72.00 target price on the stock in a research report on Friday, January 3rd. Morgan Stanley began coverage on shares of Matador Resources in a report on Friday, January 10th. They set an “equal weight” rating and a $78.00 price target for the company. Mizuho cut their price objective on Matador Resources from $74.00 to $73.00 and set an “outperform” rating for the company in a research report on Monday, December 16th. JPMorgan Chase & Co. dropped their target price on shares of Matador Resources from $76.00 to $65.00 and set an “overweight” rating on the stock in a research report on Thursday, March 13th. Finally, Benchmark reiterated a “buy” rating and issued a $62.00 target price on shares of Matador Resources in a research note on Friday, January 17th. One investment analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $73.79.

Matador Resources Stock Down 1.4 %

Matador Resources stock opened at $51.53 on Tuesday. The company has a 50-day simple moving average of $54.54 and a 200-day simple moving average of $54.84. The firm has a market capitalization of $6.45 billion, a P/E ratio of 7.22 and a beta of 3.17. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.84 and a current ratio of 0.93. Matador Resources has a one year low of $43.89 and a one year high of $71.08.

Matador Resources (NYSE:MTDR) last announced its quarterly earnings data on Tuesday, February 18th. The energy company reported $1.83 EPS for the quarter, missing analysts’ consensus estimates of $1.88 by ($0.05). The company had revenue of $970.37 million for the quarter, compared to analyst estimates of $967.10 million. Matador Resources had a net margin of 25.26% and a return on equity of 18.52%. As a group, equities analysts expect that Matador Resources will post 8.53 earnings per share for the current year.

Matador Resources Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were given a dividend of $0.3125 per share. This is a positive change from Matador Resources’s previous quarterly dividend of $0.25. This represents a $1.25 annualized dividend and a dividend yield of 2.43%. The ex-dividend date of this dividend was Friday, February 28th. Matador Resources’s payout ratio is presently 17.51%.

Insiders Place Their Bets

In other news, CEO Joseph Wm Foran acquired 6,000 shares of Matador Resources stock in a transaction dated Friday, February 21st. The stock was bought at an average cost of $53.94 per share, with a total value of $323,640.00. Following the completion of the transaction, the chief executive officer now directly owns 39,379 shares of the company’s stock, valued at approximately $2,124,103.26. This represents a 17.98 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Robert T. Macalik bought 1,200 shares of the company’s stock in a transaction that occurred on Wednesday, March 5th. The stock was purchased at an average cost of $47.98 per share, for a total transaction of $57,576.00. Following the transaction, the chief accounting officer now owns 31,000 shares in the company, valued at $1,487,380. The trade was a 4.03 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 21,350 shares of company stock worth $1,100,769. Company insiders own 6.10% of the company’s stock.

Institutional Trading of Matador Resources

A number of institutional investors have recently made changes to their positions in the business. Altshuler Shaham Ltd bought a new stake in Matador Resources during the fourth quarter worth about $25,000. EverSource Wealth Advisors LLC grew its position in shares of Matador Resources by 108.5% in the 4th quarter. EverSource Wealth Advisors LLC now owns 492 shares of the energy company’s stock valued at $28,000 after acquiring an additional 256 shares during the period. TCTC Holdings LLC increased its stake in shares of Matador Resources by 53.8% during 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 during the last quarter. MassMutual Private Wealth & Trust FSB lifted its stake in Matador Resources by 68.3% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 510 shares of the energy company’s stock valued at $29,000 after purchasing an additional 207 shares during the last quarter. Finally, SRS Capital Advisors Inc. increased its position in Matador Resources by 359.5% during the fourth quarter. SRS Capital Advisors Inc. now owns 579 shares of the energy company’s stock worth $33,000 after buying an additional 453 shares during the last quarter. Institutional investors own 91.98% of the company’s stock.

Matador Resources Company Profile

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.