Matador Resources (NYSE:MTDR) Price Target Cut to $68.00 by Analysts at Citigroup

Matador Resources (NYSE:MTDR) had its target price reduced by Citigroup from $72.00 to $68.00 in a report released on Monday morning,Benzinga reports. Citigroup currently has a buy rating on the energy company’s stock.

A number of other equities research analysts have also weighed in on the stock. Truist Financial cut their target price on shares of Matador Resources from $67.00 to $63.00 and set a “buy” rating on the stock in a research note on Thursday, July 16th. Morgan Stanley decreased their price target on shares of Matador Resources from $75.00 to $66.00 and set an “equal weight” rating for the company in a research note on Monday, June 29th. BMO Capital Markets raised their price objective on shares of Matador Resources from $65.00 to $72.00 and gave the stock an “outperform” rating in a report on Monday, April 6th. Roth Capital raised Matador Resources from a “neutral” rating to a “buy” rating and set a $65.00 price objective on the stock in a research report on Monday, June 22nd. Finally, Zacks Research downgraded Matador Resources from a “strong-buy” rating to a “hold” rating in a report on Monday, May 25th. Eleven equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Matador Resources presently has an average rating of “Moderate Buy” and a consensus price target of $63.77.

Matador Resources Price Performance

Shares of Matador Resources stock opened at $53.51 on Monday. The business has a 50 day moving average of $53.51 and a 200 day moving average of $52.99. Matador Resources has a 52 week low of $37.14 and a 52 week high of $66.84. The company has a market cap of $6.64 billion, a PE ratio of 13.76 and a beta of 0.74. The company has a quick ratio of 0.70, a current ratio of 0.73 and a debt-to-equity ratio of 0.59.

Matador Resources (NYSE:MTDR) last released its quarterly earnings results on Wednesday, May 6th. The energy company reported $1.53 earnings per share for the quarter, beating the consensus estimate of $1.24 by $0.29. The business had revenue of $941.60 million for the quarter, compared to analysts’ expectations of $871.57 million. Matador Resources had a net margin of 14.41% and a return on equity of 11.20%. The firm’s revenue for the quarter was down 33.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.99 earnings per share. As a group, equities research analysts forecast that Matador Resources will post 6.99 earnings per share for the current year.

Matador Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Friday, May 8th were issued a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date was Friday, May 8th. Matador Resources’s payout ratio is 38.56%.

Insider Transactions at Matador Resources

In other Matador Resources news, CFO Christopher P. Calvert purchased 1,500 shares of the firm’s stock in a transaction that occurred on Friday, May 29th. The stock was bought at an average cost of $53.24 per share, for a total transaction of $79,860.00. Following the purchase, the chief financial officer directly owned 41,500 shares in the company, valued at $2,209,460. The trade was a 3.75% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Glenn W. Stetson purchased 500 shares of the stock in a transaction that occurred on Tuesday, June 9th. The shares were acquired at an average cost of $53.41 per share, with a total value of $26,705.00. Following the completion of the transaction, the chief operating officer owned 95,470 shares in the company, valued at $5,099,052.70. This trade represents a 0.53% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have acquired 11,907 shares of company stock valued at $635,712 in the last three months. 5.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Matador Resources

Several large investors have recently made changes to their positions in the business. Harbor Capital Advisors Inc. raised its holdings in Matador Resources by 184.9% in the fourth quarter. Harbor Capital Advisors Inc. now owns 30,836 shares of the energy company’s stock worth $1,309,000 after buying an additional 20,011 shares during the last quarter. Wedge Capital Management L L P NC grew its holdings in shares of Matador Resources by 25.5% during the fourth quarter. Wedge Capital Management L L P NC now owns 78,035 shares of the energy company’s stock valued at $3,312,000 after buying an additional 15,859 shares during the last quarter. Peterson Wealth Services grew its holdings in shares of Matador Resources by 333.7% during the fourth quarter. Peterson Wealth Services now owns 51,356 shares of the energy company’s stock valued at $2,180,000 after buying an additional 39,516 shares during the last quarter. Thrivent Financial for Lutherans increased its position in shares of Matador Resources by 2.1% during the fourth quarter. Thrivent Financial for Lutherans now owns 1,054,232 shares of the energy company’s stock valued at $44,742,000 after acquiring an additional 21,630 shares in the last quarter. Finally, Value Holdings Management CO. LLC increased its position in shares of Matador Resources by 10.9% during the fourth quarter. Value Holdings Management CO. LLC now owns 768,308 shares of the energy company’s stock valued at $32,607,000 after acquiring an additional 75,300 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 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.