Matador Resources (NYSE:MTDR) Price Target Cut to $74.00

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

Other equities research analysts also recently issued reports about the stock. Truist Financial cut their target price on shares of Matador Resources from $91.00 to $86.00 and set a “buy” rating for the company in a research note on Monday, July 22nd. Capital One Financial upgraded shares of Matador Resources from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $80.00 to $84.00 in a research note on Thursday, July 25th. Royal Bank of Canada reiterated an “outperform” rating and issued a $75.00 target price on shares of Matador Resources in a research note on Thursday, July 25th. Wells Fargo & Company increased their price target on shares of Matador Resources from $88.00 to $89.00 and gave the company an “overweight” rating in a report on Monday, July 29th. Finally, Benchmark reissued a “buy” rating and issued a $62.00 price target on shares of Matador Resources in a report on Wednesday, July 24th. Two research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Matador Resources presently has an average rating of “Moderate Buy” and an average target price of $77.17.

Matador Resources Trading Up 3.1 %

Matador Resources stock opened at $51.96 on Monday. The firm has a 50-day moving average of $57.09 and a 200-day moving average of $61.05. Matador Resources has a one year low of $48.22 and a one year high of $71.08. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.86 and a quick ratio of 0.82. The company has a market cap of $6.48 billion, a price-to-earnings ratio of 7.08 and a beta of 3.27.

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

Insider Activity at Matador Resources

In related news, CAO Robert T. Macalik bought 500 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were purchased at an average price of $54.50 per share, for a total transaction of $27,250.00. Following the completion of the transaction, the chief accounting officer now directly owns 29,300 shares of the company’s stock, valued at approximately $1,596,850. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CAO Robert T. Macalik bought 500 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were purchased at an average price of $54.50 per share, for a total transaction of $27,250.00. Following the completion of the transaction, the chief accounting officer now directly owns 29,300 shares of the company’s stock, valued at approximately $1,596,850. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Christopher P. Calvert bought 1,000 shares of the business’s stock in a transaction on Monday, September 9th. The stock was bought at an average price of $50.30 per share, for a total transaction of $50,300.00. Following the transaction, the chief operating officer now directly owns 32,700 shares of the company’s stock, valued at $1,644,810. The disclosure for this purchase can be found here. Insiders have bought 12,300 shares of company stock valued at $634,615 over the last three months. 6.10% of the stock is owned by insiders.

Institutional Trading of Matador Resources

A number of hedge funds have recently added to or reduced their stakes in MTDR. Clearbridge Investments LLC lifted its holdings in shares of Matador Resources by 10.5% during the second quarter. Clearbridge Investments LLC now owns 2,250,036 shares of the energy company’s stock worth $134,102,000 after purchasing an additional 214,334 shares during the period. Dana Investment Advisors Inc. lifted its holdings in shares of Matador Resources by 4.7% during the second quarter. Dana Investment Advisors Inc. now owns 26,904 shares of the energy company’s stock worth $1,603,000 after purchasing an additional 1,208 shares during the period. Teachers Retirement System of The State of Kentucky lifted its holdings in shares of Matador Resources by 22.9% during the second quarter. Teachers Retirement System of The State of Kentucky now owns 73,131 shares of the energy company’s stock worth $4,358,000 after purchasing an additional 13,613 shares during the period. Delphi Management Inc. MA acquired a new position in shares of Matador Resources during the second quarter worth $898,000. Finally, 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. Institutional investors and hedge funds 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.