Matador Resources (NYSE:MTDR) Price Target Cut to $52.00 by Analysts at Morgan Stanley

Matador Resources (NYSE:MTDR) had its price target cut by Morgan Stanley from $56.00 to $52.00 in a research note released on Friday,Benzinga reports. They currently have an equal weight rating on the energy company’s stock.

Other equities analysts also recently issued reports about the stock. Citigroup started coverage on shares of Matador Resources in a research note on Monday, December 8th. They issued a “buy” rating and a $53.00 price target for the company. Raymond James Financial reiterated an “outperform” rating and set a $55.00 target price (down previously from $63.00) on shares of Matador Resources in a report on Monday, October 20th. Mizuho raised their target price on Matador Resources from $67.00 to $70.00 and gave the company an “outperform” rating in a research note on Friday, December 12th. BMO Capital Markets restated an “outperform” rating on shares of Matador Resources in a research report on Thursday, December 18th. Finally, Wells Fargo & Company reduced their price target on Matador Resources from $71.00 to $61.00 and set an “overweight” rating on the stock in a research note on Friday, October 24th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Matador Resources currently has a consensus rating of “Moderate Buy” and an average price target of $59.09.

Matador Resources Price Performance

MTDR opened at $42.94 on Friday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.69 and a current ratio of 0.73. The stock has a market capitalization of $5.34 billion, a PE ratio of 6.86 and a beta of 1.09. The stock’s 50 day moving average price is $42.48 and its 200-day moving average price is $44.92. Matador Resources has a 52-week low of $35.19 and a 52-week high of $62.59.

Matador Resources (NYSE:MTDR) last released its quarterly earnings results on Tuesday, October 21st. The energy company reported $1.36 earnings per share for the quarter, beating the consensus estimate of $1.22 by $0.14. The business had revenue of $939.02 million for the quarter, compared to analysts’ expectations of $893.22 million. Matador Resources had a net margin of 20.46% and a return on equity of 14.80%. The firm’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.89 earnings per share. On average, equities research analysts predict that Matador Resources will post 8.53 EPS for the current year.

Insiders Place Their Bets

In related news, EVP Robert T. Macalik bought 1,500 shares of the business’s stock in a transaction dated Thursday, November 6th. The shares were purchased at an average cost of $38.25 per share, with a total value of $57,375.00. Following the completion of the purchase, the executive vice president owned 35,039 shares in the company, valued at approximately $1,340,241.75. The trade was a 4.47% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Joseph Wm Foran purchased 1,000 shares of the stock in a transaction dated Thursday, November 6th. The stock was bought at an average cost of $38.14 per share, with a total value of $38,140.00. Following the transaction, the chief executive officer owned 23,867 shares in the company, valued at $910,287.38. The trade was a 4.37% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last ninety days, insiders purchased 37,346 shares of company stock valued at $1,463,396. Company insiders own 5.80% of the company’s stock.

Institutional Investors Weigh In On Matador Resources

Institutional investors and hedge funds have recently made changes to their positions in the company. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in Matador Resources by 298.5% in the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 534 shares of the energy company’s stock valued at $25,000 after acquiring an additional 400 shares in the last quarter. Kestra Investment Management LLC raised its stake 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 worth $25,000 after purchasing an additional 358 shares during the last quarter. Allworth Financial LP lifted its holdings in shares of Matador Resources by 182.0% during the second quarter. Allworth Financial LP now owns 564 shares of the energy company’s stock valued at $27,000 after purchasing an additional 364 shares in the last quarter. Ameritas Advisory Services LLC purchased a new stake in shares of Matador Resources during the second quarter valued at $29,000. Finally, Rothschild Investment LLC boosted its position in shares of Matador Resources by 5,927.3% during the third quarter. Rothschild Investment LLC now owns 663 shares of the energy company’s stock valued at $30,000 after buying an additional 652 shares during the last quarter. 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.