Matador Resources (NYSE:MTDR) Price Target Cut to $75.00

Matador Resources (NYSE:MTDR) had its price target cut by equities researchers at Truist Financial from $86.00 to $75.00 in a research note issued to investors on Monday, Benzinga reports. The firm currently has a “buy” rating on the energy company’s stock. Truist Financial’s price target indicates a potential upside of 48.54% from the stock’s previous close.

Several other research analysts have also recently weighed in on the company. Mizuho decreased their target price on Matador Resources from $85.00 to $74.00 and set an “outperform” rating for the company in a research note on Monday, September 16th. Capital One Financial raised shares of Matador Resources from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $80.00 to $84.00 in a research note on Thursday, July 25th. Royal Bank of Canada reissued an “outperform” rating and set a $75.00 price target on shares of Matador Resources in a research report on Friday, September 27th. JPMorgan Chase & Co. lowered their target price on Matador Resources from $83.00 to $76.00 and set an “overweight” rating on the stock in a research note on Thursday, September 12th. Finally, Wells Fargo & Company increased their price target on shares of Matador Resources from $88.00 to $89.00 and gave the stock an “overweight” rating in a research report on Monday, July 29th. Two analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, Matador Resources currently has an average rating of “Moderate Buy” and a consensus price target of $75.67.

Matador Resources Stock Performance

MTDR stock opened at $50.49 on Monday. Matador Resources has a 1 year low of $47.15 and a 1 year high of $71.08. The stock has a market capitalization of $6.30 billion, a price-to-earnings ratio of 6.92 and a beta of 3.27. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.82 and a current ratio of 0.86. The stock’s fifty day moving average is $54.70 and its two-hundred day moving average is $60.09.

Matador Resources (NYSE:MTDR) last posted its earnings results on Tuesday, July 23rd. The energy company reported $2.05 EPS for the quarter, beating the consensus estimate of $1.76 by $0.29. The firm had revenue of $847.14 million for the quarter, compared to analysts’ expectations of $822.55 million. Matador Resources had a return on equity of 21.12% and a net margin of 29.01%. The firm’s revenue was up 32.8% compared to the same quarter last year. During the same period last year, the firm earned $1.42 EPS. On average, research analysts predict that Matador Resources will post 7.63 EPS for the current year.

Insider Buying and Selling

In related news, CAO Robert T. Macalik bought 500 shares of Matador Resources stock in a transaction that occurred on Friday, August 2nd. The stock was purchased at an average cost of $54.50 per share, for a total transaction of $27,250.00. Following the acquisition, the chief accounting officer now owns 29,300 shares in the company, valued at $1,596,850. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CAO Robert T. Macalik bought 500 shares of the company’s stock in a transaction that occurred 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 acquisition, the chief accounting officer now directly owns 29,300 shares of the company’s stock, valued at approximately $1,596,850. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO Christopher P. Calvert purchased 1,000 shares of the firm’s stock in a transaction on Monday, September 9th. The shares were purchased at an average price of $50.30 per share, with a total value of $50,300.00. Following the completion of the acquisition, 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. Over the last three months, insiders acquired 12,300 shares of company stock worth $634,615. Corporate insiders own 6.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. grew its stake in shares of Matador Resources by 31.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,206,041 shares of the energy company’s stock worth $125,435,000 after acquiring an additional 531,504 shares during the last quarter. Element Capital Management LLC bought a new position in shares of Matador Resources during the 1st quarter worth about $28,572,000. Public Employees Retirement Association of Colorado raised its position in shares of Matador Resources by 14,874.4% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 427,520 shares of the energy company’s stock valued at $24,309,000 after buying an additional 424,665 shares during the last quarter. 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 buying an additional 356,506 shares during the period. Finally, Wellington Management Group LLP grew its position in Matador Resources by 44.8% during the fourth quarter. Wellington Management Group LLP now owns 1,065,291 shares of the energy company’s stock worth $60,572,000 after buying an additional 329,522 shares in the last quarter. 91.98% of the stock is owned by institutional investors.

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.