Matador Resources (NYSE:MTDR) Price Target Cut to $62.00

Matador Resources (NYSE:MTDR) had its target price reduced by stock analysts at Benchmark from $71.00 to $62.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the energy company’s stock. Benchmark’s price objective would indicate a potential downside of 3.95% from the company’s previous close.

MTDR has been the topic of a number of other reports. KeyCorp raised their target price on Matador Resources from $71.00 to $76.00 and gave the company an “overweight” rating in a research report on Monday. JPMorgan Chase & Co. lifted their price objective on Matador Resources from $76.00 to $77.00 and gave the stock an “overweight” rating in a report on Thursday, April 11th. StockNews.com upgraded Matador Resources from a “sell” rating to a “hold” rating in a report on Thursday, February 22nd. Truist Financial lifted their price objective on Matador Resources from $82.00 to $85.00 and gave the stock a “buy” rating in a report on Friday, April 5th. Finally, TD Cowen lifted their price objective on Matador Resources from $64.00 to $72.00 and gave the stock an “outperform” rating in a report on Monday, March 4th. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $73.90.

Matador Resources Price Performance

Shares of NYSE:MTDR traded down $0.13 during trading on Tuesday, reaching $64.55. 188,133 shares of the company’s stock traded hands, compared to its average volume of 1,369,111. Matador Resources has a fifty-two week low of $42.04 and a fifty-two week high of $71.08. The company has a quick ratio of 0.98, a current ratio of 1.04 and a debt-to-equity ratio of 0.53. The firm has a market cap of $7.72 billion, a PE ratio of 9.19 and a beta of 3.32. The company has a 50-day simple moving average of $64.89 and a 200-day simple moving average of $60.05.

Matador Resources (NYSE:MTDR) last posted its earnings results on Wednesday, February 21st. The energy company reported $1.99 EPS for the quarter, missing analysts’ consensus estimates of $2.04 by ($0.05). Matador Resources had a net margin of 30.14% and a return on equity of 21.54%. The business had revenue of $836.13 million for the quarter, compared to analyst estimates of $842.96 million. During the same quarter last year, the business earned $2.08 earnings per share. Matador Resources’s revenue was up 18.2% on a year-over-year basis. As a group, analysts predict that Matador Resources will post 7.14 earnings per share for the current year.

Institutional Trading of Matador Resources

Several institutional investors have recently made changes to their positions in MTDR. AE Wealth Management LLC purchased a new stake in shares of Matador Resources during the 3rd quarter valued at approximately $297,000. SG Americas Securities LLC purchased a new stake in shares of Matador Resources during the 3rd quarter valued at approximately $2,626,000. Summit Global Investments purchased a new stake in shares of Matador Resources during the 3rd quarter valued at approximately $240,000. Simplicity Solutions LLC purchased a new stake in shares of Matador Resources during the 3rd quarter valued at approximately $236,000. Finally, Hunter Perkins Capital Management LLC raised its position in shares of Matador Resources by 41.9% during the 3rd quarter. Hunter Perkins Capital Management LLC now owns 8,800 shares of the energy company’s stock valued at $523,000 after buying an additional 2,600 shares during the period. Hedge funds and other institutional investors own 91.98% of the company’s stock.

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.