Truist Financial Lowers Matador Resources (NYSE:MTDR) Price Target to $63.00

Matador Resources (NYSE:MTDR) had its price target reduced by analysts at Truist Financial from $67.00 to $63.00 in a research report issued on Thursday,Benzinga reports. The firm presently has a “buy” rating on the energy company’s stock. Truist Financial’s price objective would indicate a potential upside of 17.09% from the stock’s current price.

A number of other equities analysts also recently issued reports on MTDR. Morgan Stanley lowered their price target on Matador Resources from $75.00 to $66.00 and set an “equal weight” rating on the stock in a research report on Monday, June 29th. Weiss Ratings lowered shares of Matador Resources from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, May 12th. Zacks Research lowered Matador Resources from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 25th. Citigroup dropped their price target on shares of Matador Resources from $77.00 to $72.00 and set a “buy” rating for the company in a research note on Tuesday, May 26th. Finally, Wells Fargo & Company increased their price target on Matador Resources from $54.00 to $63.00 and gave the stock an “equal weight” rating in a report on Thursday, April 16th. Eleven investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, Matador Resources presently has an average rating of “Moderate Buy” and a consensus target price of $64.08.

Matador Resources Stock Performance

NYSE MTDR opened at $53.81 on Thursday. Matador Resources has a fifty-two week low of $37.14 and a fifty-two week high of $66.84. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.70 and a current ratio of 0.73. The firm has a market capitalization of $6.68 billion, a P/E ratio of 13.83 and a beta of 0.74. The stock has a 50-day simple moving average of $53.56 and a two-hundred day simple moving average of $52.83.

Matador Resources (NYSE:MTDR) last posted its earnings results on Wednesday, May 6th. The energy company reported $1.53 EPS for the quarter, topping the consensus estimate of $1.24 by $0.29. The firm had revenue of $941.60 million for the quarter, compared to analyst estimates of $871.57 million. Matador Resources had a return on equity of 11.20% and a net margin of 14.41%.Matador Resources’s revenue for the quarter was down 33.8% compared to the same quarter last year. During the same period last year, the company earned $1.99 earnings per share. On average, equities analysts forecast that Matador Resources will post 7.17 earnings per share for the current year.

Insider Activity

In other Matador Resources news, CFO Christopher P. Calvert bought 1,500 shares of the business’s stock in a transaction dated Friday, May 29th. The shares were acquired at an average price of $53.24 per share, with a total value of $79,860.00. Following the transaction, the chief financial officer owned 41,500 shares of the company’s stock, valued at approximately $2,209,460. The trade was a 3.75% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Joseph Wm Foran bought 2,000 shares of the stock in a transaction dated Tuesday, June 9th. The stock was bought at an average price of $53.07 per share, with a total value of $106,140.00. Following the acquisition, the chief executive officer owned 11,479 shares in the company, valued at approximately $609,190.53. This represents a 21.10% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders have bought 11,907 shares of company stock worth $635,712. 5.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Matador Resources

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MTDR. Kestra Investment Management LLC raised its holdings in shares of Matador Resources by 225.2% in the second quarter. Kestra Investment Management LLC now owns 517 shares of the energy company’s stock valued at $25,000 after buying an additional 358 shares during the last quarter. V Square Quantitative Management LLC acquired a new stake in Matador Resources in the first quarter valued at about $27,000. Measured Wealth Private Client Group LLC acquired a new stake in Matador Resources in the third quarter valued at about $35,000. Center for Financial Planning Inc. purchased a new stake in Matador Resources in the 1st quarter valued at approximately $41,000. Finally, Gilpin Wealth Management LLC acquired a new position in Matador Resources during the 4th quarter worth approximately $42,000. Hedge funds and other institutional investors own 91.98% of the company’s stock.

About Matador Resources

Matador Resources Company is an independent energy firm primarily engaged in the exploration, development and production of oil, natural gas liquids (NGLs) and natural gas. The company focuses on upstream operations, utilizing horizontal drilling and hydraulic fracturing techniques to unlock hydrocarbons from key reservoirs. Its asset base includes both operated and non‐operated positions, with a particular emphasis on the Permian Basin, one of the most prolific oil-producing regions in North America.

Matador’s core operations are concentrated in the Delaware Basin segment of the Permian Basin, where it holds substantial acreage in both Reeves and Culberson counties in West Texas and Eddy and Lea counties in New Mexico.