Matador Resources (NYSE:MTDR) Price Target Cut to $73.00 by Analysts at Mizuho

Matador Resources (NYSE:MTDR) had its target price reduced by Mizuho from $74.00 to $73.00 in a report issued on Monday,Benzinga reports. The brokerage currently has an “outperform” rating on the energy company’s stock. Mizuho’s target price indicates a potential upside of 31.27% from the stock’s previous close.

MTDR has been the topic of several other reports. Stephens raised their target price on shares of Matador Resources from $78.00 to $80.00 and gave the stock an “overweight” rating in a research report on Friday, December 6th. BMO Capital Markets boosted their price objective on shares of Matador Resources from $75.00 to $78.00 and gave the company an “outperform” rating in a research note on Friday, October 4th. JPMorgan Chase & Co. cut their target price on Matador Resources from $77.00 to $71.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 30th. KeyCorp lowered their price target on Matador Resources from $76.00 to $72.00 and set an “overweight” rating for the company in a research report on Wednesday, October 16th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $70.00 price objective on shares of Matador Resources in a report on Friday, December 6th. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Matador Resources presently has an average rating of “Moderate Buy” and a consensus target price of $75.00.

Matador Resources Trading Down 1.9 %

MTDR stock traded down $1.08 during midday trading on Monday, hitting $55.61. The stock had a trading volume of 235,036 shares, compared to its average volume of 1,494,359. The company’s 50-day moving average price is $55.51 and its 200 day moving average price is $56.31. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.88 and a quick ratio of 0.84. The firm has a market cap of $6.94 billion, a PE ratio of 7.36 and a beta of 3.26. Matador Resources has a 12-month low of $47.15 and a 12-month high of $71.08.

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

Insider Activity

In other news, CEO Joseph Wm Foran acquired 2,000 shares of the firm’s stock in a transaction on Friday, December 6th. The stock was bought at an average cost of $55.18 per share, with a total value of $110,360.00. Following the transaction, the chief executive officer now directly owns 42,251 shares in the company, valued at approximately $2,331,410.18. This represents a 4.97 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP William Thomas Elsener bought 800 shares of the stock in a transaction dated Friday, December 13th. The shares were acquired at an average price of $56.60 per share, with a total value of $45,280.00. Following the completion of the purchase, the executive vice president now directly owns 102,964 shares of the company’s stock, valued at approximately $5,827,762.40. This represents a 0.78 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought 4,105 shares of company stock worth $222,501 over the last 90 days. Company insiders own 6.10% of the company’s stock.

Hedge Funds Weigh In On Matador Resources

Several institutional investors and hedge funds have recently made changes to their positions in the business. Boston Trust Walden Corp acquired a new position in Matador Resources in the third quarter worth about $51,788,000. Yaupon Capital Management LP grew its position in shares of Matador Resources by 565.4% in the 3rd quarter. Yaupon Capital Management LP now owns 744,037 shares of the energy company’s stock worth $36,770,000 after acquiring an additional 632,218 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Matador Resources by 8.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,734,819 shares of the energy company’s stock valued at $282,196,000 after acquiring an additional 356,506 shares during the last quarter. Los Angeles Capital Management LLC acquired a new stake in shares of Matador Resources during the 2nd quarter valued at approximately $18,747,000. Finally, FMR LLC raised its position in shares of Matador Resources by 162.9% during the 3rd quarter. FMR LLC now owns 478,795 shares of the energy company’s stock valued at $23,662,000 after acquiring an additional 296,663 shares in the last quarter. 91.98% of the stock is currently owned by hedge funds and other 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.