Morgan Stanley Has Lowered Expectations for Matador Resources (NYSE:MTDR) Stock Price

Matador Resources (NYSE:MTDR) had its price target cut by Morgan Stanley from $84.00 to $68.00 in a research report sent to investors on Thursday,Benzinga reports. They currently have an equal weight rating on the energy company’s stock.

Several other brokerages also recently issued reports on MTDR. Royal Bank of Canada reissued an “outperform” rating and issued a $70.00 price objective on shares of Matador Resources in a research note on Wednesday, January 15th. Mizuho decreased their price target on shares of Matador Resources from $74.00 to $73.00 and set an “outperform” rating for the company in a report on Monday, December 16th. Wells Fargo & Company cut their price objective on Matador Resources from $90.00 to $87.00 and set an “overweight” rating for the company in a report on Tuesday. Benchmark reaffirmed a “buy” rating and issued a $62.00 target price on shares of Matador Resources in a research report on Friday, January 17th. Finally, TD Cowen lifted their price target on Matador Resources from $74.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, December 19th. One equities research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, Matador Resources currently has an average rating of “Moderate Buy” and a consensus target price of $73.79.

Matador Resources Price Performance

NYSE MTDR opened at $51.53 on Thursday. Matador Resources has a 1 year low of $43.89 and a 1 year high of $71.08. The stock’s 50-day moving average price is $54.54 and its two-hundred day moving average price is $54.84. The company has a market cap of $6.45 billion, a PE ratio of 7.22 and a beta of 3.17. 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 (NYSE:MTDR) last posted its quarterly earnings data on Tuesday, February 18th. The energy company reported $1.83 EPS for the quarter, missing analysts’ consensus estimates of $1.88 by ($0.05). The firm had revenue of $970.37 million during the quarter, compared to analyst estimates of $967.10 million. Matador Resources had a return on equity of 18.52% and a net margin of 25.26%. On average, analysts predict that Matador Resources will post 8.53 EPS for the current year.

Matador Resources Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were paid a dividend of $0.3125 per share. This is an increase from Matador Resources’s previous quarterly dividend of $0.25. The ex-dividend date was Friday, February 28th. This represents a $1.25 annualized dividend and a yield of 2.43%. Matador Resources’s dividend payout ratio is presently 17.51%.

Insider Buying and Selling

In related news, CAO Robert T. Macalik acquired 1,200 shares of the business’s stock in a transaction on Wednesday, March 5th. The stock was bought at an average cost of $47.98 per share, with a total value of $57,576.00. Following the completion of the acquisition, the chief accounting officer now owns 31,000 shares in the company, valued at $1,487,380. The trade was a 4.03 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Timothy E. Parker acquired 2,000 shares of the firm’s stock in a transaction on Wednesday, March 5th. The shares were purchased at an average cost of $44.67 per share, for a total transaction of $89,340.00. Following the completion of the purchase, the director now directly owns 83,790 shares of the company’s stock, valued at approximately $3,742,899.30. The trade was a 2.45 % increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 21,350 shares of company stock valued at $1,100,769. 6.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Matador Resources

A number of hedge funds have recently added to or reduced their stakes in MTDR. Altshuler Shaham Ltd bought a new position in Matador Resources in the 4th quarter valued at $25,000. TCTC Holdings LLC grew its stake in Matador Resources by 53.8% in the fourth quarter. TCTC Holdings LLC now owns 500 shares of the energy company’s stock valued at $28,000 after acquiring an additional 175 shares during the period. EverSource Wealth Advisors LLC grew its position in shares of Matador Resources by 108.5% in the 4th quarter. EverSource Wealth Advisors LLC now owns 492 shares of the energy company’s stock valued at $28,000 after purchasing an additional 256 shares during the period. MassMutual Private Wealth & Trust FSB increased its position in shares of Matador Resources by 68.3% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 510 shares of the energy company’s stock worth $29,000 after acquiring an additional 207 shares in the last quarter. Finally, SRS Capital Advisors Inc. increased its holdings in Matador Resources by 359.5% during the 4th quarter. SRS Capital Advisors Inc. now owns 579 shares of the energy company’s stock worth $33,000 after purchasing an additional 453 shares in the last quarter. Institutional investors 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.