Matador Resources (NYSE:MTDR) Price Target Cut to $60.00 by Analysts at KeyCorp

Matador Resources (NYSE:MTDR) had its price objective decreased by KeyCorp from $72.00 to $60.00 in a report released on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the energy company’s stock. KeyCorp’s price objective indicates a potential upside of 50.77% from the stock’s current price.

A number of other analysts have also recently issued reports on MTDR. Benchmark reissued a “buy” rating and issued a $62.00 target price on shares of Matador Resources in a research report on Friday, January 17th. Raymond James reduced their target price on shares of Matador Resources from $77.00 to $67.00 and set an “outperform” rating for the company in a research note on Monday, March 10th. Stephens dropped their price objective on Matador Resources from $90.00 to $86.00 and set an “overweight” rating on the stock in a report on Tuesday, April 15th. Wells Fargo & Company lowered their target price on shares of Matador Resources from $87.00 to $86.00 and set an “overweight” rating on the stock in a research report on Thursday. Finally, Wolfe Research upgraded Matador Resources from a “peer perform” rating to an “outperform” rating and set a $72.00 price target for the company in a research report on Friday, January 3rd. One equities research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $72.43.

Matador Resources Stock Down 4.0 %

Shares of Matador Resources stock traded down $1.68 during trading on Monday, hitting $39.80. 298,967 shares of the stock were exchanged, compared to its average volume of 1,550,478. The stock has a market cap of $4.98 billion, a price-to-earnings ratio of 5.58 and a beta of 2.74. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.93 and a quick ratio of 0.84. The firm’s 50-day moving average price is $48.21 and its 200 day moving average price is $53.82. Matador Resources has a 12-month low of $35.19 and a 12-month high of $67.51.

Matador Resources (NYSE:MTDR) last announced its quarterly earnings results on Tuesday, February 18th. The energy company reported $1.83 EPS 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 analysts’ expectations of $967.10 million. Matador Resources had a net margin of 25.26% and a return on equity of 18.52%. As a group, analysts forecast that Matador Resources will post 8.53 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, COO Christopher P. Calvert acquired 1,300 shares of Matador Resources stock in a transaction dated Friday, February 21st. The shares were acquired at an average cost of $55.17 per share, with a total value of $71,721.00. Following the purchase, the chief operating officer now directly owns 34,000 shares of the company’s stock, valued at approximately $1,875,780. This trade represents a 3.98 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Robert T. Macalik purchased 1,200 shares of the business’s stock in a transaction that occurred on Wednesday, March 5th. The stock was acquired at an average price of $47.98 per share, for a total transaction of $57,576.00. Following the acquisition, the chief accounting officer now directly owns 31,000 shares of the company’s stock, valued at $1,487,380. This trade represents a 4.03 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 21,350 shares of company stock valued at $1,100,769. Insiders own 6.10% of the company’s stock.

Institutional Trading of Matador Resources

Several large investors have recently added to or reduced their stakes in MTDR. Altshuler Shaham Ltd purchased a new stake in shares of Matador Resources during the 4th quarter valued at about $25,000. TCTC Holdings LLC lifted its position in shares of Matador Resources by 53.8% during the fourth quarter. TCTC Holdings LLC now owns 500 shares of the energy company’s stock worth $28,000 after purchasing an additional 175 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of Matador Resources by 108.5% in the fourth 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. Opal Wealth Advisors LLC purchased a new position in Matador Resources in the 1st quarter valued at about $28,000. Finally, MassMutual Private Wealth & Trust FSB boosted its stake in shares of Matador Resources by 68.3% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 510 shares of the energy company’s stock valued at $29,000 after buying an additional 207 shares during the last quarter. 91.98% of the stock is currently owned by institutional investors and hedge funds.

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.