Matador Resources (NYSE:MTDR) PT Lowered to $74.00

Matador Resources (NYSE:MTDR) had its price target decreased by research analysts at Mizuho from $85.00 to $74.00 in a report issued on Monday, Benzinga reports. The firm presently has an “outperform” rating on the energy company’s stock. Mizuho’s price target would suggest a potential upside of 42.42% from the stock’s current price.

Other equities research analysts also recently issued reports about the stock. JPMorgan Chase & Co. decreased their price target on shares of Matador Resources from $83.00 to $76.00 and set an “overweight” rating for the company in a research note on Thursday, September 12th. TD Cowen lifted their price target on shares of Matador Resources from $85.00 to $87.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Benchmark reaffirmed a “buy” rating and issued a $62.00 price target on shares of Matador Resources in a research note on Wednesday, July 24th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $75.00 price target on shares of Matador Resources in a research note on Thursday, July 25th. Finally, Stephens decreased their price target on shares of Matador Resources from $83.00 to $81.00 and set an “overweight” rating for the company in a research note on Wednesday, July 24th. Two investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, Matador Resources presently has an average rating of “Moderate Buy” and an average price target of $77.17.

Matador Resources Price Performance

MTDR stock opened at $51.96 on Monday. The firm has a market cap of $6.48 billion, a price-to-earnings ratio of 7.08 and a beta of 3.27. The company has a quick ratio of 0.82, a current ratio of 0.86 and a debt-to-equity ratio of 0.41. Matador Resources has a 12-month low of $48.22 and a 12-month high of $71.08. The company’s fifty day simple moving average is $57.09 and its 200 day simple moving average is $61.05.

Matador Resources (NYSE:MTDR) last released its earnings results on Tuesday, July 23rd. The energy company reported $2.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.76 by $0.29. The business had revenue of $847.14 million for the quarter, compared to analyst estimates of $822.55 million. Matador Resources had a net margin of 29.01% and a return on equity of 21.12%. Matador Resources’s revenue for the quarter was up 32.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.42 earnings per share. On average, analysts expect that Matador Resources will post 7.83 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Robert Gaines Baty purchased 500 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The shares were acquired at an average cost of $50.58 per share, for a total transaction of $25,290.00. Following the completion of the acquisition, the director now owns 67,617 shares in the company, valued at $3,420,067.86. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Robert Gaines Baty purchased 500 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The shares were acquired at an average cost of $50.58 per share, for a total transaction of $25,290.00. Following the completion of the acquisition, the director now owns 67,617 shares in the company, valued at $3,420,067.86. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Joseph Wm Foran bought 2,000 shares of the company’s stock in a transaction on Friday, August 2nd. The stock was bought at an average price of $55.96 per share, for a total transaction of $111,920.00. Following the completion of the purchase, the chief executive officer now owns 35,251 shares of the company’s stock, valued at $1,972,645.96. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 12,300 shares of company stock worth $634,615. 6.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in shares of Matador Resources by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 11,124,705 shares of the energy company’s stock valued at $742,797,000 after buying an additional 103,713 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Matador Resources by 8.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,734,819 shares of the energy company’s stock valued at $282,196,000 after buying an additional 356,506 shares in the last quarter. Clearbridge Investments LLC lifted its stake in shares of Matador Resources by 10.5% during the 2nd quarter. Clearbridge Investments LLC now owns 2,250,036 shares of the energy company’s stock valued at $134,102,000 after buying an additional 214,334 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Matador Resources by 31.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,206,041 shares of the energy company’s stock valued at $125,435,000 after buying an additional 531,504 shares in the last quarter. Finally, Wasatch Advisors LP lifted its stake in shares of Matador Resources by 7.3% during the 1st quarter. Wasatch Advisors LP now owns 1,176,802 shares of the energy company’s stock valued at $78,575,000 after buying an additional 79,920 shares in the last quarter. 91.98% of the stock is currently owned by hedge funds and other 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.