Matador Resources (NYSE:MTDR) Given New $87.00 Price Target at Wells Fargo & Company

Matador Resources (NYSE:MTDR) had its target price lowered by Wells Fargo & Company from $90.00 to $87.00 in a research note released on Tuesday morning,Benzinga reports. The brokerage currently has an overweight rating on the energy company’s stock.

Several other brokerages also recently commented on MTDR. Stephens boosted their price objective on shares of Matador Resources from $78.00 to $80.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. Morgan Stanley assumed 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 on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $70.00 target price on shares of Matador Resources in a research note on Wednesday, January 15th. JPMorgan Chase & Co. dropped their price target on Matador Resources from $76.00 to $65.00 and set an “overweight” rating for the company in a research note 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 report on Friday, January 17th. One equities research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $73.79.

Matador Resources Stock Performance

Shares of NYSE MTDR opened at $51.53 on Tuesday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.93 and a quick ratio of 0.84. The firm has a market cap of $6.45 billion, a price-to-earnings ratio of 7.22 and a beta of 3.17. The stock’s fifty day moving average price is $54.54 and its two-hundred day moving average price is $54.84. Matador Resources has a one year low of $43.89 and a one year high of $71.08.

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

Matador Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were issued a dividend of $0.3125 per share. This is a boost from Matador Resources’s previous quarterly dividend of $0.25. This represents a $1.25 dividend on an annualized basis and a dividend yield of 2.43%. The ex-dividend date of this dividend was Friday, February 28th. Matador Resources’s dividend payout ratio (DPR) is currently 17.51%.

Insider Activity at Matador Resources

In other news, EVP Glenn W. Stetson purchased 1,000 shares of the business’s stock in a transaction that occurred on Friday, February 21st. The shares were acquired at an average cost of $53.06 per share, for a total transaction of $53,060.00. Following the completion of the acquisition, the executive vice president now owns 91,680 shares in the company, valued at $4,864,540.80. This trade represents a 1.10 % 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 this link. Also, CAO Robert T. Macalik acquired 1,200 shares of the firm’s stock in a transaction on Wednesday, March 5th. The stock was purchased at an average price of $47.98 per share, with a total value of $57,576.00. Following the purchase, the chief accounting officer now owns 31,000 shares in the company, valued at approximately $1,487,380. The trade was a 4.03 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders have acquired 21,350 shares of company stock valued at $1,100,769. 6.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Matador Resources

Institutional investors have recently bought and sold shares of the company. Franklin Resources Inc. boosted its holdings in shares of Matador Resources by 12.0% in the third quarter. Franklin Resources Inc. now owns 1,008,421 shares of the energy company’s stock worth $54,122,000 after acquiring an additional 107,827 shares during the period. Loomis Sayles & Co. L P grew its stake in Matador Resources by 16.8% during the third quarter. Loomis Sayles & Co. L P now owns 455,662 shares of the energy company’s stock valued at $22,519,000 after acquiring an additional 65,487 shares in the last quarter. Stifel Financial Corp increased its holdings in Matador Resources by 81.2% during the 3rd quarter. Stifel Financial Corp now owns 30,304 shares of the energy company’s stock worth $1,498,000 after acquiring an additional 13,583 shares during the period. Allspring Global Investments Holdings LLC grew its position in shares of Matador Resources by 16.9% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 139,254 shares of the energy company’s stock valued at $8,088,000 after purchasing an additional 20,172 shares in the last quarter. Finally, HITE Hedge Asset Management LLC bought a new position in shares of Matador Resources in the third quarter worth $10,526,000. 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.