Truist Financial Cuts Matador Resources (NYSE:MTDR) Price Target to $75.00

03 Oct 2024, 03:30 by Jessica Moore · The Cerbat Gem

Matador Resources (NYSE:MTDR – Free Report) had its target price decreased by Truist Financial from $86.00 to $75.00 in a research note released on Monday morning, Benzinga reports. Truist Financial currently has a buy rating on the energy company’s stock.

A number of other brokerages also recently weighed in on MTDR. TD Cowen boosted their price target on Matador Resources from $85.00 to $87.00 and gave the stock a buy rating in a research report on Wednesday, July 24th. Benchmark reissued a buy rating and set a $62.00 target price on shares of Matador Resources in a report on Wednesday, July 24th. Wolfe Research initiated coverage on Matador Resources in a research note on Thursday, July 18th. They issued a peer perform rating on the stock. JPMorgan Chase & Co. reduced their price objective on shares of Matador Resources from $83.00 to $76.00 and set an overweight rating for the company in a research report on Thursday, September 12th. Finally, Mizuho decreased their price objective on shares of Matador Resources from $85.00 to $74.00 and set an outperform rating on the stock in a report on Monday, September 16th. Two research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus price target of $75.67.

Read Our Latest Stock Report on Matador Resources

Matador Resources Price Performance

NYSE:MTDR opened at $51.16 on Monday. The stock has a market capitalization of $6.38 billion, a PE ratio of 6.98 and a beta of 3.27. Matador Resources has a 1-year low of $47.15 and a 1-year high of $71.08. The firm has a fifty day simple moving average of $54.49 and a 200 day simple moving average of $59.98. The company has a current ratio of 0.86, a quick ratio of 0.82 and a debt-to-equity ratio of 0.41.

Matador Resources (NYSE:MTDR – Get Free Report) last announced its quarterly earnings results on Tuesday, July 23rd. The energy company reported $2.05 EPS for the quarter, beating analysts’ consensus estimates of $1.76 by $0.29. The firm had revenue of $847.14 million during the quarter, compared to analysts’ expectations of $822.55 million. Matador Resources had a net margin of 29.01% and a return on equity of 21.12%. The company’s revenue for the quarter was up 32.8% compared to the same quarter last year. During the same quarter last year, the company posted $1.42 earnings per share. On average, research analysts expect that Matador Resources will post 7.63 EPS for the current fiscal year.

Matador Resources Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Thursday, August 15th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.56%. Matador Resources’s payout ratio is presently 10.96%.

Insider Activity

In related news, CAO Robert T. Macalik purchased 500 shares of Matador Resources stock in a transaction that occurred on Friday, August 2nd. The shares were acquired at an average price of $54.50 per share, with a total value of $27,250.00. Following the completion of the transaction, the chief accounting officer now directly owns 29,300 shares of the company’s stock, valued at approximately $1,596,850. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CAO Robert T. Macalik acquired 500 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The stock was acquired at an average price of $54.50 per share, with a total value of $27,250.00. Following the completion of the transaction, the chief accounting officer now directly owns 29,300 shares of the company’s stock, valued at approximately $1,596,850. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Joseph Wm Foran bought 2,500 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was purchased at an average cost of $51.47 per share, for a total transaction of $128,675.00. Following the completion of the acquisition, the chief executive officer now owns 37,751 shares in the company, valued at $1,943,043.97. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 12,300 shares of company stock worth $634,615. Corporate insiders own 6.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Denver PWM LLC bought a new position in shares of Matador Resources in the second quarter worth about $27,000. Covestor Ltd lifted its stake in Matador Resources by 121.4% in the 1st 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. Rise Advisors LLC acquired a new stake in Matador Resources in the first quarter valued at approximately $34,000. Quarry LP grew its stake in shares of Matador Resources by 47.5% during the second quarter. Quarry LP now owns 779 shares of the energy company’s stock worth $46,000 after buying an additional 251 shares during the last quarter. Finally, Advisors Asset Management Inc. increased its holdings in shares of Matador Resources by 191.8% during the first quarter. Advisors Asset Management Inc. now owns 709 shares of the energy company’s stock worth $47,000 after buying an additional 466 shares in the last quarter. 91.98% of the stock is currently owned by institutional investors and hedge funds.

Matador Resources Company Profile

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