KeyCorp Trims Matador Resources (NYSE:MTDR) Target Price to $72.00

Matador Resources (NYSE:MTDR) had its target price reduced by KeyCorp from $76.00 to $72.00 in a report published on Wednesday, Benzinga reports. KeyCorp currently has an overweight rating on the energy company’s stock.

Several other analysts also recently weighed in on MTDR. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $75.00 target price on shares of Matador Resources in a report on Friday, September 27th. TD Cowen boosted their target price on Matador Resources from $85.00 to $87.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Capital One Financial raised Matador Resources from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $80.00 to $84.00 in a report on Thursday, July 25th. Wolfe Research initiated coverage on Matador Resources in a research note on Thursday, July 18th. They issued a “peer perform” rating on the stock. Finally, JPMorgan Chase & Co. cut their price objective on Matador Resources from $83.00 to $76.00 and set an “overweight” rating for the company in a research report on Thursday, September 12th. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $75.54.

Matador Resources Stock Up 2.3 %

Matador Resources stock opened at $51.80 on Wednesday. The company has a market capitalization of $6.46 billion, a P/E ratio of 7.10 and a beta of 3.26. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.82 and a current ratio of 0.86. Matador Resources has a fifty-two week low of $47.15 and a fifty-two week high of $71.08. The stock has a 50-day simple moving average of $53.38 and a 200-day simple moving average of $58.96.

Matador Resources (NYSE:MTDR) last issued its quarterly earnings data on Tuesday, July 23rd. The energy company reported $2.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.76 by $0.29. Matador Resources had a net margin of 29.01% and a return on equity of 21.12%. The company had revenue of $847.14 million for the quarter, compared to the consensus estimate of $822.55 million. During the same period last year, the firm posted $1.42 EPS. Matador Resources’s revenue for the quarter was up 32.8% on a year-over-year basis. Equities research analysts expect that Matador Resources will post 7.4 earnings per share for the current year.

Matador Resources Announces Dividend

The company also recently announced a dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 15th will be given a $0.25 dividend. The ex-dividend date is Friday, November 15th. Matador Resources’s dividend payout ratio (DPR) is 10.96%.

Insider Transactions at Matador Resources

In other Matador Resources news, CAO Robert T. Macalik purchased 500 shares of the stock in a transaction dated Friday, August 2nd. The shares were bought at an average cost of $54.50 per share, with a total value of $27,250.00. Following the completion of the acquisition, the chief accounting officer now owns 29,300 shares of the company’s stock, valued at approximately $1,596,850. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Matador Resources news, CAO Robert T. Macalik purchased 500 shares of the company’s stock in a transaction on Friday, August 2nd. The shares were purchased at an average cost of $54.50 per share, for a total transaction of $27,250.00. Following the completion of the transaction, the chief accounting officer now owns 29,300 shares in the company, valued at $1,596,850. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Brian J. Willey bought 1,500 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The shares were acquired at an average cost of $50.50 per share, with a total value of $75,750.00. Following the completion of the purchase, the chief financial officer now owns 1,500 shares of the company’s stock, valued at approximately $75,750. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 12,300 shares of company stock worth $634,615. Company insiders own 6.10% of the company’s stock.

Institutional Trading of Matador Resources

Several hedge funds and other institutional investors have recently modified their holdings of MTDR. Denver PWM LLC acquired a new stake in shares of Matador Resources during the second quarter worth approximately $27,000. Covestor Ltd grew its holdings in shares of Matador Resources by 121.4% during the 1st quarter. Covestor Ltd now owns 414 shares of the energy company’s stock valued at $28,000 after acquiring an additional 227 shares in the last quarter. Rise Advisors LLC acquired a new position in shares of Matador Resources in the first quarter worth $34,000. Quarry LP raised its holdings 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 acquiring an additional 251 shares in the last quarter. Finally, Advisors Asset Management Inc. boosted its position in Matador Resources by 191.8% during the first quarter. Advisors Asset Management Inc. now owns 709 shares of the energy company’s stock valued at $47,000 after purchasing an additional 466 shares during the last quarter. 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.