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

Matador Resources (NYSE:MTDR) had its price objective cut by research analysts at Mizuho from $74.00 to $73.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has an “outperform” rating on the energy company’s stock. Mizuho’s price objective suggests a potential upside of 31.08% from the stock’s previous close.

Several other analysts have also recently issued reports on MTDR. Royal Bank of Canada reaffirmed an “outperform” rating and set a $70.00 price objective on shares of Matador Resources in a research note on Friday, December 6th. Truist Financial decreased their target price on shares of Matador Resources from $86.00 to $75.00 and set a “buy” rating on the stock in a report on Monday, September 30th. Stephens upped their price objective on shares of Matador Resources from $78.00 to $80.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. JPMorgan Chase & Co. decreased their price objective on shares of Matador Resources from $77.00 to $71.00 and set an “overweight” rating on the stock in a report on Wednesday, October 30th. Finally, Benchmark restated a “buy” rating and issued a $62.00 price objective on shares of Matador Resources in a report on Wednesday, October 23rd. Two investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $75.31.

Matador Resources Trading Down 0.9 %

NYSE MTDR opened at $55.69 on Monday. The company has a market capitalization of $6.95 billion, a PE ratio of 7.38 and a beta of 3.26. The company has a fifty day moving average of $55.53 and a 200 day moving average of $56.27. Matador Resources has a 1 year low of $47.15 and a 1 year high of $71.08. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.88 and a quick ratio of 0.84.

Matador Resources (NYSE:MTDR) last posted its earnings results on Tuesday, October 22nd. The energy company reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.78 by $0.11. The company had revenue of $770.20 million during the quarter, compared to the consensus estimate of $836.69 million. Matador Resources had a net margin of 27.45% and a return on equity of 20.01%. The firm’s quarterly revenue was up 9.8% on a year-over-year basis. During the same period in the previous year, the firm posted $1.86 earnings per share. Research analysts forecast that Matador Resources will post 7.49 earnings per share for the current year.

Insider Buying and Selling

In other news, EVP Glenn W. Stetson bought 1,000 shares of Matador Resources stock in a transaction dated Wednesday, October 30th. The stock was bought at an average price of $51.33 per share, for a total transaction of $51,330.00. Following the purchase, the executive vice president now owns 85,935 shares of the company’s stock, valued at approximately $4,411,043.55. The trade was a 1.18 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP William Thomas Elsener bought 800 shares of Matador Resources stock in a transaction dated Friday, December 13th. The stock was purchased at an average price of $56.60 per share, with a total value of $45,280.00. Following the purchase, the executive vice president now directly owns 102,964 shares in the company, valued at approximately $5,827,762.40. This trade represents a 0.78 % increase in their position. The disclosure for this purchase can be found here. Insiders acquired a total of 4,285 shares of company stock worth $232,849 in the last 90 days. Company insiders own 6.10% of the company’s stock.

Institutional Trading of Matador Resources

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP lifted its stake in shares of Matador Resources by 8.1% in the second quarter. Dimensional Fund Advisors LP now owns 4,734,819 shares of the energy company’s stock valued at $282,196,000 after purchasing an additional 356,506 shares during the period. Victory Capital Management Inc. increased its holdings in Matador Resources by 2.7% during the 3rd quarter. Victory Capital Management Inc. now owns 2,752,102 shares of the energy company’s stock valued at $136,009,000 after acquiring an additional 72,077 shares in the last quarter. Clearbridge Investments LLC increased its holdings in 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 acquiring an additional 214,334 shares in the last quarter. Geode Capital Management LLC increased its holdings in Matador Resources by 1.9% during the 3rd quarter. Geode Capital Management LLC now owns 2,008,730 shares of the energy company’s stock valued at $99,297,000 after acquiring an additional 36,921 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in Matador Resources by 4.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,434,926 shares of the energy company’s stock valued at $70,914,000 after acquiring an additional 57,254 shares in the last quarter. Institutional investors and hedge funds own 91.98% of the company’s stock.

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.