Morgan Stanley Cuts Matador Resources (NYSE:MTDR) Price Target to $68.00

Matador Resources (NYSE:MTDR - Free Report) had its price target reduced by Morgan Stanley from $84.00 to $68.00 in a report released on Thursday morning,Benzinga reports. They currently have an equal weight rating on the energy company's stock.

Several other research firms have also recently commented on MTDR. TD Cowen raised their price target on shares of Matador Resources from $74.00 to $75.00 and gave the stock a "buy" rating in a report on Thursday, December 19th. Raymond James lowered their target price on Matador Resources from $77.00 to $67.00 and set an "outperform" rating on the stock in a research note on Monday, March 10th. Stephens lifted 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. Truist Financial increased their price objective on Matador Resources from $75.00 to $80.00 and gave the stock a "buy" rating in a report on Monday, January 13th. Finally, Benchmark reissued a "buy" rating and issued a $62.00 price objective on shares of Matador Resources in a research note on Friday, January 17th. One analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $73.79.

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Matador Resources Price Performance

Shares of NYSE MTDR traded up $0.64 during trading on Thursday, hitting $51.15. The company had a trading volume of 1,259,651 shares, compared to its average volume of 1,497,379. The company has a market cap of $6.40 billion, a P/E ratio of 7.16 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. The business's 50-day moving average is $54.28 and its 200 day moving average is $54.92. Matador Resources has a 52 week low of $43.89 and a 52 week high of $71.08.

Matador Resources (NYSE:MTDR - Get Free Report) last released its quarterly earnings results on Tuesday, February 18th. The energy company reported $1.83 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.88 by ($0.05). Matador Resources had a net margin of 25.26% and a return on equity of 18.52%. The firm had revenue of $970.37 million for the quarter, compared to analyst estimates of $967.10 million. Equities research analysts predict that Matador Resources will post 8.53 earnings per share for the current fiscal 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 represents a $1.25 dividend on an annualized basis and a dividend yield of 2.44%. This is a positive change from Matador Resources's previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Friday, February 28th. Matador Resources's dividend payout ratio is presently 17.51%.

Insider Buying and Selling at Matador Resources

In other Matador Resources news, CAO Robert T. Macalik acquired 1,200 shares of the business's stock in a transaction that occurred on Wednesday, March 5th. The shares were acquired at an average cost of $47.98 per share, for a total transaction of $57,576.00. Following the completion of the acquisition, the chief accounting officer now directly owns 31,000 shares of the company's stock, valued at approximately $1,487,380. This represents a 4.03 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Paul W. Harvey bought 600 shares of the company's stock in a transaction on Friday, February 21st. The shares were acquired at an average price of $55.20 per share, with a total value of $33,120.00. Following the transaction, the director now directly owns 27,917 shares in the company, valued at approximately $1,541,018.40. The trade was a 2.20 % increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 21,350 shares of company stock worth $1,100,769. Insiders own 6.10% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. increased its position in shares of Matador Resources by 4.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,434,926 shares of the energy company's stock valued at $70,914,000 after buying an additional 57,254 shares in the last quarter. Citigroup Inc. increased its holdings in shares of Matador Resources by 40.1% in the third quarter. Citigroup Inc. now owns 138,580 shares of the energy company's stock worth $6,849,000 after acquiring an additional 39,630 shares in the last quarter. Cerity Partners LLC lifted its holdings in shares of Matador Resources by 42.8% during the 3rd quarter. Cerity Partners LLC now owns 69,082 shares of the energy company's stock valued at $3,414,000 after purchasing an additional 20,700 shares in the last quarter. Dynamic Technology Lab Private Ltd grew its position in shares of Matador Resources by 194.0% in the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 16,534 shares of the energy company's stock valued at $817,000 after purchasing an additional 10,910 shares during the period. Finally, FMR LLC raised its holdings in Matador Resources by 162.9% during the 3rd quarter. FMR LLC now owns 478,795 shares of the energy company's stock worth $23,662,000 after buying an additional 296,663 shares during the period. Institutional investors and hedge funds 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.