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

Matador Resources (NYSE:MTDR) had its price target lowered by JPMorgan Chase & Co. from $76.00 to $65.00 in a report issued on Thursday morning,Benzinga reports. The brokerage currently has an overweight rating on the energy company’s stock.

Several other equities research analysts have also recently commented on the company. Raymond James decreased their target price on Matador Resources from $77.00 to $67.00 and set an “outperform” rating for the company in a research note on Monday, March 10th. Morgan Stanley initiated coverage on Matador Resources in a research note on Friday, January 10th. They set an “equal weight” rating and a $78.00 target price for the company. Stephens raised their target price on Matador Resources from $78.00 to $80.00 and gave the stock an “overweight” rating in a research note on Friday, December 6th. 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. Finally, Wells Fargo & Company raised their target price on Matador Resources from $87.00 to $91.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. One analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $74.20.

Matador Resources Trading Up 3.6 %

Shares of MTDR stock opened at $48.61 on Thursday. The stock has a market cap of $6.09 billion, a price-to-earnings ratio of 6.81 and a beta of 3.17. The stock has a 50-day moving average of $56.23 and a 200-day moving average of $55.01. The company has a current ratio of 0.93, a quick ratio of 0.84 and a debt-to-equity ratio of 0.61. Matador Resources has a 1-year low of $43.89 and a 1-year high of $71.08.

Matador Resources (NYSE:MTDR) last issued its quarterly earnings results 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). The company had revenue of $970.37 million during the quarter, compared to analyst estimates of $967.10 million. Matador Resources had a net margin of 25.26% and a return on equity of 18.52%. On average, equities research analysts forecast that Matador Resources will post 8.53 earnings per share for the current 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 issued a $0.3125 dividend. This represents a $1.25 dividend on an annualized basis and a dividend yield of 2.57%. The ex-dividend date of this dividend was Friday, February 28th. This is a positive change from Matador Resources’s previous quarterly dividend of $0.25. Matador Resources’s dividend payout ratio (DPR) is currently 17.51%.

Insider Activity

In other Matador Resources news, CEO Joseph Wm Foran purchased 6,000 shares of the company’s stock in a transaction that occurred on Friday, February 21st. The shares were acquired at an average cost of $53.94 per share, for a total transaction of $323,640.00. Following the completion of the acquisition, the chief executive officer now owns 39,379 shares of the company’s stock, valued at $2,124,103.26. The trade was a 17.98 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Paul W. Harvey purchased 600 shares of the company’s stock in a transaction that occurred on Friday, February 21st. The shares were acquired at an average price of $55.20 per share, for a total transaction of $33,120.00. Following the completion of the acquisition, the director now directly owns 27,917 shares of the company’s stock, valued at $1,541,018.40. This trade represents a 2.20 % increase in their position. The disclosure for this purchase can be found here. Insiders have purchased 20,850 shares of company stock worth $1,077,024 over the last 90 days. 6.10% of the stock is currently owned by corporate insiders.

Institutional Trading of Matador Resources

A number of hedge funds have recently bought and sold shares of MTDR. Covestor Ltd lifted its holdings in Matador Resources by 154.8% during the third quarter. Covestor Ltd now owns 1,060 shares of the energy company’s stock worth $52,000 after acquiring an additional 644 shares during the period. GSA Capital Partners LLP lifted its position in shares of Matador Resources by 176.1% during the 3rd quarter. GSA Capital Partners LLP now owns 9,620 shares of the energy company’s stock valued at $475,000 after buying an additional 6,136 shares during the last quarter. KBC Group NV lifted its position in shares of Matador Resources by 14.5% during the 3rd quarter. KBC Group NV now owns 3,453 shares of the energy company’s stock valued at $171,000 after buying an additional 436 shares during the last quarter. Lummis Asset Management LP grew its stake in shares of Matador Resources by 24.7% during the 3rd quarter. Lummis Asset Management LP now owns 191,102 shares of the energy company’s stock worth $9,444,000 after acquiring an additional 37,893 shares during the period. Finally, Royce & Associates LP increased its holdings in Matador Resources by 21.3% in the 3rd quarter. Royce & Associates LP now owns 357,563 shares of the energy company’s stock worth $17,671,000 after acquiring an additional 62,784 shares during the last quarter. 91.98% of the stock is currently owned by institutional investors.

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.