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

Matador Resources (NYSE:MTDR) had its price objective cut by equities research analysts at KeyCorp from $76.00 to $72.00 in a research report issued on Wednesday, Benzinga reports. The brokerage currently has an “overweight” rating on the energy company’s stock. KeyCorp’s price target would suggest a potential upside of 37.25% from the company’s current price.

A number of other equities research analysts also recently commented on the stock. JPMorgan Chase & Co. dropped their price objective on shares of Matador Resources from $83.00 to $76.00 and set an “overweight” rating on the stock in a research report on Thursday, September 12th. Benchmark restated a “buy” rating and issued a $62.00 price target on shares of Matador Resources in a research note on Wednesday, July 24th. Stephens lifted their price target on Matador Resources from $74.00 to $76.00 and gave the stock an “overweight” rating in a report on Friday, September 27th. Truist Financial dropped their price objective on Matador Resources from $86.00 to $75.00 and set a “buy” rating on the stock in a report on Monday, September 30th. Finally, Capital One Financial upgraded Matador Resources from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $80.00 to $84.00 in a research note on Thursday, July 25th. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $75.54.

Matador Resources Price Performance

Shares of MTDR opened at $52.46 on Wednesday. Matador Resources has a fifty-two week low of $47.15 and a fifty-two week high of $71.08. The firm’s 50 day moving average price is $53.32 and its 200 day moving average price is $58.91. The company has a market cap of $6.55 billion, a P/E ratio of 7.19 and a beta of 3.26. 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 (NYSE:MTDR) last announced its earnings results on Tuesday, July 23rd. The energy company reported $2.05 earnings per share 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 firm had revenue of $847.14 million for the quarter, compared to the consensus estimate of $822.55 million. During the same period in the prior year, the firm earned $1.42 EPS. The firm’s revenue for the quarter was up 32.8% on a year-over-year basis. On average, research analysts forecast that Matador Resources will post 7.4 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Joseph Wm Foran acquired 2,500 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was acquired at an average cost of $51.47 per share, with a total value of $128,675.00. Following the completion of the acquisition, the chief executive officer now owns 37,751 shares of the company’s stock, valued at $1,943,043.97. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CAO Robert T. Macalik acquired 500 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was acquired at an average cost of $50.25 per share, with a total value of $25,125.00. Following the completion of the acquisition, the chief accounting officer now owns 29,800 shares of the company’s stock, valued at $1,497,450. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Joseph Wm Foran purchased 2,500 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The shares were bought at an average cost of $51.47 per share, with a total value of $128,675.00. Following the completion of the acquisition, the chief executive officer now owns 37,751 shares of the company’s stock, valued at approximately $1,943,043.97. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 12,300 shares of company stock valued at $634,615. 6.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Matador Resources

Hedge funds have recently modified their holdings of the stock. Denver PWM LLC acquired a new stake in shares of Matador Resources during the second quarter worth $27,000. Covestor Ltd lifted its holdings in shares of Matador Resources by 121.4% during the first quarter. Covestor Ltd now owns 414 shares of the energy company’s stock worth $28,000 after purchasing an additional 227 shares during the period. Rise Advisors LLC acquired a new stake in shares of Matador Resources during the first quarter worth $34,000. Quarry LP lifted 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 purchasing an additional 251 shares during the period. Finally, Advisors Asset Management Inc. lifted its holdings in shares of Matador Resources by 191.8% during the first quarter. Advisors Asset Management Inc. now owns 709 shares of the energy company’s stock worth $47,000 after purchasing an additional 466 shares during the period. 91.98% of the stock is owned by institutional investors and hedge funds.

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.