Truist Financial Cuts Matador Resources (NYSE:MTDR) Price Target to $86.00

Matador Resources (NYSE:MTDR) had its price target reduced by Truist Financial from $91.00 to $86.00 in a research report sent to investors on Monday, Benzinga reports. Truist Financial currently has a buy rating on the energy company’s stock.

MTDR has been the subject of a number of other reports. Roth Mkm reiterated a buy rating and set a $66.00 price target on shares of Matador Resources in a report on Monday, March 25th. Stephens started coverage on shares of Matador Resources in a research note on Friday, June 21st. They set an overweight rating and a $83.00 price objective for the company. KeyCorp raised their target price on Matador Resources from $71.00 to $76.00 and gave the stock an overweight rating in a research note on Monday, April 22nd. Wolfe Research initiated coverage on Matador Resources in a report on Thursday, July 18th. They set a peer perform rating on the stock. Finally, JPMorgan Chase & Co. increased their price objective on Matador Resources from $76.00 to $77.00 and gave the stock an overweight rating in a report on Thursday, April 11th. Two equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and an average price target of $77.09.

Matador Resources Stock Performance

NYSE MTDR opened at $61.68 on Monday. The firm has a market cap of $7.70 billion, a price-to-earnings ratio of 8.45 and a beta of 3.29. The company has a 50-day simple moving average of $60.27 and a two-hundred day simple moving average of $61.29. The company has a quick ratio of 0.84, a current ratio of 0.89 and a debt-to-equity ratio of 0.43. Matador Resources has a 12-month low of $51.72 and a 12-month high of $71.08.

Matador Resources (NYSE:MTDR) last issued its earnings results on Tuesday, July 23rd. The energy company reported $2.05 earnings per share for the quarter, beating the consensus estimate of $1.76 by $0.29. The company had revenue of $847.14 million during the quarter, compared to analysts’ expectations of $822.55 million. Matador Resources had a return on equity of 20.62% and a net margin of 28.89%. Matador Resources’s quarterly revenue was up 32.8% compared to the same quarter last year. During the same period in the prior year, the business posted $1.42 EPS. On average, equities analysts forecast that Matador Resources will post 7.96 EPS for the current year.

Matador Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Shareholders of record on Thursday, August 15th will be issued a $0.20 dividend. The ex-dividend date is Thursday, August 15th. This represents a $0.80 dividend on an annualized basis and a yield of 1.30%. Matador Resources’s dividend payout ratio (DPR) is 10.96%.

Insider Buying and Selling at Matador Resources

In other Matador Resources news, EVP Bryan A. Erman bought 1,750 shares of Matador Resources stock in a transaction dated Friday, June 14th. The shares were purchased at an average cost of $55.90 per share, with a total value of $97,825.00. Following the transaction, the executive vice president now directly owns 1,750 shares of the company’s stock, valued at $97,825. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 6.10% of the company’s stock.

Institutional Investors Weigh In On Matador Resources

A number of hedge funds and other institutional investors have recently bought and sold shares of MTDR. Covestor Ltd lifted its holdings in shares of Matador Resources by 121.4% during the first quarter. Covestor Ltd now owns 414 shares of the energy company’s stock valued at $28,000 after purchasing an additional 227 shares during the last quarter. Oakworth Capital Inc. bought a new stake in Matador Resources in the fourth quarter worth $31,000. Rise Advisors LLC bought a new position in shares of Matador Resources during the first quarter valued at $34,000. McGlone Suttner Wealth Management Inc. purchased a new position in shares of Matador Resources in the 4th quarter worth about $35,000. Finally, Lindbrook Capital LLC boosted its stake in Matador Resources by 84.3% in the 1st quarter. Lindbrook Capital LLC now owns 597 shares of the energy company’s stock worth $40,000 after purchasing an additional 273 shares in the last quarter. Hedge funds and other 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.