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ubs initiates neutral coverage on matador resources with price target of 47
UBS has initiated Neutral coverage on Matador Resources (MTDR), setting a price target of $47. The firm highlights the company's strategic growth, significant dividend increase of 90% since Q1 2021, and the potential of the San Mateo asset as strengths. However, analysts note that current stock valuation reflects these positives, and lower crude oil prices may limit further share price increases.
JPMorgan Chase & Co. lowered its price target for Matador Resources from $76 to $65, maintaining an "overweight" rating, while Truist Financial raised its target from $75 to $80 with a "buy" rating. Insider transactions included Van H. Singleton II purchasing 2,000 shares at $53.21 each, increasing his stake, and CAO Robert T. Macalik acquiring 1,200 shares at $47.98. Matador Resources recently reported a quarterly EPS of $1.83, slightly below estimates, and increased its quarterly dividend to $0.3125, reflecting a positive change from the previous amount.
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