Matador Resources (NYSE:MTDR) Price Target Lowered to $56.00 at UBS Group

Matador Resources (NYSE:MTDR) had its price target trimmed by UBS Group from $62.00 to $56.00 in a research note published on Tuesday,Benzinga reports. The firm currently has a neutral rating on the energy company’s stock.

MTDR has been the subject of a number of other research reports. Mizuho raised their price target on Matador Resources from $74.00 to $77.00 and gave the company an “outperform” rating in a research report on Wednesday, May 27th. KeyCorp increased their target price on Matador Resources from $61.00 to $73.00 and gave the stock an “overweight” rating in a research report on Thursday, April 2nd. Morgan Stanley dropped their price objective on Matador Resources from $75.00 to $66.00 and set an “equal weight” rating for the company in a report on Monday, June 29th. Truist Financial decreased their price target on shares of Matador Resources from $67.00 to $63.00 and set a “buy” rating for the company in a research report on Thursday, July 16th. Finally, Zacks Research downgraded shares of Matador Resources from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 25th. Eleven investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, Matador Resources currently has a consensus rating of “Moderate Buy” and a consensus target price of $64.08.

Matador Resources Trading Up 1.1%

NYSE:MTDR opened at $54.06 on Tuesday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.70 and a current ratio of 0.73. Matador Resources has a 1 year low of $37.14 and a 1 year high of $66.84. The stock has a market capitalization of $6.71 billion, a price-to-earnings ratio of 13.90 and a beta of 0.74. The stock has a fifty day moving average price of $53.46 and a two-hundred day moving average price of $53.07.

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

Insider Buying and Selling

In other Matador Resources news, COO Glenn W. Stetson purchased 500 shares of the firm’s stock in a transaction on Tuesday, June 9th. The shares were purchased at an average price of $53.41 per share, for a total transaction 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 represents a 0.53% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Joseph Wm Foran acquired 4,675 shares of the business’s stock in a transaction on Wednesday, May 27th. The shares were bought at an average price of $52.36 per share, for a total transaction of $244,783.00. Following the acquisition, the chief executive officer owned 6,997 shares in the company, valued at approximately $366,362.92. This trade represents a 201.34% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders 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 corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Kestra Investment Management LLC lifted its position 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 in the last quarter. V Square Quantitative Management LLC acquired a new position in shares of Matador Resources during the 1st quarter valued at about $27,000. Measured Wealth Private Client Group LLC bought a new position in shares of Matador Resources in the third quarter valued at approximately $35,000. Center for Financial Planning Inc. bought a new stake in Matador Resources during the first quarter valued at about $41,000. Finally, Gilpin Wealth Management LLC bought a new stake in Matador Resources during the 4th quarter valued at approximately $42,000. 91.98% of the stock is owned by institutional investors and hedge funds.

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.