UBS Group Cuts Matador Resources (NYSE:MTDR) Price Target to $54.00

Matador Resources (NYSE:MTDR) had its target price lowered by equities research analysts at UBS Group from $56.00 to $54.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has a “neutral” rating on the energy company’s stock. UBS Group’s target price would suggest a potential upside of 12.32% from the company’s current price.

A number of other analysts have also commented on the company. Wells Fargo & Company boosted their price target on Matador Resources from $54.00 to $63.00 and gave the company an “equal weight” rating in a report on Thursday, April 16th. BMO Capital Markets boosted their price objective on shares of Matador Resources from $65.00 to $72.00 and gave the stock an “outperform” rating in a research note on Monday, April 6th. Weiss Ratings downgraded shares of Matador Resources from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, May 12th. Truist Financial reduced their price target on Matador Resources from $67.00 to $63.00 and set a “buy” rating for the company in a report on Thursday, July 16th. Finally, Roth Capital raised Matador Resources from a “neutral” rating to a “buy” rating and set a $65.00 price target on the stock in a research report on Monday, June 22nd. Eleven research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $63.92.

Matador Resources Trading Down 5.4%

Shares of NYSE:MTDR traded down $2.73 during mid-day trading on Monday, reaching $48.08. The stock had a trading volume of 1,070,320 shares, compared to its average volume of 1,835,065. The firm has a 50 day simple moving average of $53.10 and a two-hundred day simple moving average of $53.28. The company has a current ratio of 0.73, a quick ratio of 0.70 and a debt-to-equity ratio of 0.59. The firm has a market cap of $5.97 billion, a PE ratio of 12.40 and a beta of 0.74. Matador Resources has a twelve month low of $37.14 and a twelve month high of $66.84.

Matador Resources (NYSE:MTDR) last released its quarterly earnings data on Wednesday, May 6th. The energy company reported $1.53 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 analysts’ expectations of $871.57 million. During the same quarter in the prior year, the company earned $1.99 EPS. The firm’s quarterly revenue was down 33.8% on a year-over-year basis. On average, research analysts predict that Matador Resources will post 6.83 EPS for the current fiscal year.

Insider Buying and Selling at Matador Resources

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

Institutional Trading of Matador Resources

Several institutional investors have recently modified their holdings of the business. Kestra Investment Management LLC boosted its position in Matador Resources by 225.2% during the second quarter. Kestra Investment Management LLC now owns 517 shares of the energy company’s stock valued at $25,000 after acquiring an additional 358 shares during the last quarter. V Square Quantitative Management LLC bought a new position in shares of Matador Resources in the 1st quarter worth about $27,000. Measured Wealth Private Client Group LLC acquired a new position in shares of Matador Resources in the 3rd quarter valued at about $35,000. Center for Financial Planning Inc. bought a new stake in shares of Matador Resources during the 1st quarter valued at about $41,000. Finally, Gilpin Wealth Management LLC bought a new stake in shares of Matador Resources during the 4th quarter valued at about $42,000. 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.