JPMorgan Chase & Co. Issues Pessimistic Forecast for Matador Resources (NYSE:MTDR) Stock Price

Matador Resources (NYSE:MTDR - Free Report) had its price target reduced by JPMorgan Chase & Co. from $77.00 to $71.00 in a report issued on Wednesday morning, Benzinga reports. They currently have an overweight rating on the energy company's stock.

Other research analysts have also recently issued reports about the stock. Mizuho decreased their price objective on shares of Matador Resources from $85.00 to $74.00 and set an "outperform" rating for the company in a report on Monday, September 16th. KeyCorp decreased their price target on Matador Resources from $76.00 to $72.00 and set an "overweight" rating for the company in a research note on Wednesday, October 16th. BMO Capital Markets upped their price objective on Matador Resources from $75.00 to $78.00 and gave the company an "outperform" rating in a report on Friday, October 4th. Wells Fargo & Company decreased their target price on Matador Resources from $89.00 to $87.00 and set an "overweight" rating for the company in a research note on Tuesday, October 1st. Finally, Wolfe Research initiated coverage on shares of Matador Resources in a research report on Thursday, July 18th. They issued a "peer perform" rating on the stock. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to MarketBeat, Matador Resources has an average rating of "Moderate Buy" and an average target price of $74.92.

Matador Resources Stock Performance

MTDR traded up $1.22 during trading hours on Wednesday, hitting $51.71. The company's stock had a trading volume of 1,597,699 shares, compared to its average volume of 1,536,861. The company has a 50-day simple moving average of $52.50 and a 200 day simple moving average of $57.78. The company has a current ratio of 0.88, a quick ratio of 0.84 and a debt-to-equity ratio of 0.71. The firm has a market capitalization of $6.45 billion, a PE ratio of 6.85 and a beta of 3.26. Matador Resources has a fifty-two week low of $47.15 and a fifty-two week high of $71.08.

Matador Resources (NYSE:MTDR - Get Free Report) last issued its quarterly earnings results on Tuesday, October 22nd. The energy company reported $1.89 EPS for the quarter, beating analysts' consensus estimates of $1.78 by $0.11. Matador Resources had a return on equity of 20.01% and a net margin of 27.45%. The company had revenue of $770.20 million for the quarter, compared to analyst estimates of $836.69 million. During the same period last year, the company earned $1.86 earnings per share. The company's quarterly revenue was up 9.8% compared to the same quarter last year. As a group, sell-side analysts expect that Matador Resources will post 7.42 EPS for the current year.

Matador Resources Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 15th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.93%. The ex-dividend date is Friday, November 15th. This is an increase from Matador Resources's previous quarterly dividend of $0.20. Matador Resources's dividend payout ratio is 10.60%.

Insider Buying and Selling

In other news, EVP Bryan A. Erman bought 1,000 shares of the business's stock in a transaction on Friday, September 6th. The shares were bought at an average cost of $50.35 per share, with a total value of $50,350.00. Following the purchase, the executive vice president now directly owns 2,750 shares in the company, valued at $138,462.50. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CEO Joseph Wm Foran acquired 2,000 shares of the stock in a transaction that occurred on Friday, August 2nd. The shares were purchased at an average cost of $55.96 per share, with a total value of $111,920.00. Following the completion of the transaction, the chief executive officer now owns 35,251 shares of the company's stock, valued at approximately $1,972,645.96. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Bryan A. Erman acquired 1,000 shares of the company's stock in a transaction on Friday, September 6th. The stock was bought at an average price of $50.35 per share, for a total transaction of $50,350.00. Following the purchase, the executive vice president now owns 2,750 shares in the company, valued at approximately $138,462.50. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 12,300 shares of company stock valued at $634,615. Company insiders own 6.10% of the company's stock.

Hedge Funds Weigh In On Matador Resources

Several institutional investors and hedge funds have recently modified their holdings of the stock. Janney Montgomery Scott LLC acquired a new position in Matador Resources in the first quarter worth approximately $828,000. Prevail Innovative Wealth Advisors LLC increased its stake in shares of Matador Resources by 28.6% during the 1st quarter. Prevail Innovative Wealth Advisors LLC now owns 37,163 shares of the energy company's stock worth $2,481,000 after purchasing an additional 8,254 shares during the last quarter. Capstone Investment Advisors LLC increased its stake in shares of Matador Resources by 1,029.1% during the 1st quarter. Capstone Investment Advisors LLC now owns 76,032 shares of the energy company's stock worth $5,077,000 after purchasing an additional 69,298 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Matador Resources by 5.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,104,791 shares of the energy company's stock valued at $73,768,000 after purchasing an additional 53,322 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake in shares of Matador Resources by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 11,124,705 shares of the energy company's stock valued at $742,797,000 after purchasing an additional 103,713 shares during the last quarter. 91.98% of the stock is currently owned by hedge funds and other institutional investors.

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.