JPMorgan Chase & Co. Has Lowered Expectations for Matador Resources (NYSE:MTDR) Stock Price

Matador Resources (NYSE:MTDR) had its target price cut by stock analysts at JPMorgan Chase & Co. from $76.00 to $65.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the energy company’s stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 33.72% from the company’s current price.

MTDR has been the subject of a number of other reports. Wells Fargo & Company increased their price objective on shares of Matador Resources from $87.00 to $91.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Mizuho cut their price objective on shares of Matador Resources from $74.00 to $73.00 and set an “outperform” rating for the company in a report on Monday, December 16th. TD Cowen raised their target price on shares of Matador Resources from $74.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Benchmark reissued a “buy” rating and issued a $62.00 target price on shares of Matador Resources in a report on Friday, January 17th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $70.00 target price on shares of Matador Resources in a report on Wednesday, January 15th. One analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, Matador Resources currently has a consensus rating of “Moderate Buy” and a consensus target price of $74.20.

Matador Resources Trading Up 3.6 %

Matador Resources stock opened at $48.61 on Thursday. The firm has a 50 day moving average of $56.44 and a 200 day moving average of $55.09. The firm has a market capitalization of $6.09 billion, a price-to-earnings ratio of 6.81 and a beta of 3.17. Matador Resources has a 12-month low of $43.89 and a 12-month high of $71.08. The company has a current ratio of 0.93, a quick ratio of 0.84 and a debt-to-equity ratio of 0.61.

Matador Resources (NYSE:MTDR) last announced its quarterly earnings data on Tuesday, February 18th. The energy company reported $1.83 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.88 by ($0.05). Matador Resources had a net margin of 25.26% and a return on equity of 18.52%. The company had revenue of $970.37 million for the quarter, compared to analysts’ expectations of $967.10 million. As a group, research analysts predict that Matador Resources will post 8.53 earnings per share for the current year.

Insider Transactions at Matador Resources

In other Matador Resources news, Director Paul W. Harvey bought 600 shares of the firm’s stock in a transaction dated Friday, February 21st. The stock was acquired at an average cost of $55.20 per share, for a total transaction of $33,120.00. Following the completion of the transaction, the director now owns 27,917 shares in the company, valued at $1,541,018.40. This trade represents a 2.20 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Robert T. Macalik bought 1,200 shares of the firm’s stock in a transaction dated Wednesday, March 5th. The shares were acquired at an average price of $47.98 per share, with a total value of $57,576.00. Following the completion of the transaction, the chief accounting officer now owns 31,000 shares of the company’s stock, valued at approximately $1,487,380. The trade was a 4.03 % increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 20,850 shares of company stock worth $1,077,024. 6.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Matador Resources

Institutional investors have recently made changes to their positions in the company. Franklin Resources Inc. increased its stake in shares of Matador Resources by 12.0% during the third quarter. Franklin Resources Inc. now owns 1,008,421 shares of the energy company’s stock valued at $54,122,000 after buying an additional 107,827 shares during the period. Loomis Sayles & Co. L P increased its stake in shares of Matador Resources by 16.8% during the third quarter. Loomis Sayles & Co. L P now owns 455,662 shares of the energy company’s stock valued at $22,519,000 after buying an additional 65,487 shares during the period. Stifel Financial Corp increased its stake in shares of Matador Resources by 81.2% during the third quarter. Stifel Financial Corp now owns 30,304 shares of the energy company’s stock valued at $1,498,000 after buying an additional 13,583 shares during the period. Allspring Global Investments Holdings LLC increased its stake in shares of Matador Resources by 16.9% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 139,254 shares of the energy company’s stock valued at $8,088,000 after buying an additional 20,172 shares during the period. Finally, HITE Hedge Asset Management LLC purchased a new position in shares of Matador Resources during the third quarter valued at $10,526,000. Hedge funds and other institutional investors own 91.98% of the company’s stock.

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.