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

Matador Resources (NYSE:MTDR) had its price objective lowered by equities researchers at Benchmark from $71.00 to $62.00 in a research report issued on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the energy company’s stock. Benchmark’s target price indicates a potential downside of 5.04% from the company’s previous close.

MTDR has been the topic of a number of other research reports. JPMorgan Chase & Co. increased their target price on Matador Resources from $76.00 to $77.00 and gave the stock an “overweight” rating in a research note on Thursday, April 11th. Wells Fargo & Company increased their price objective on Matador Resources from $76.00 to $85.00 and gave the stock an “overweight” rating in a research report on Thursday, April 18th. Truist Financial boosted their target price on shares of Matador Resources from $82.00 to $85.00 and gave the company a “buy” rating in a research report on Friday, April 5th. KeyCorp raised their price target on shares of Matador Resources from $71.00 to $76.00 and gave the stock an “overweight” rating in a research report on Monday. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $70.00 price objective on shares of Matador Resources in a report on Tuesday, March 5th. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, Matador Resources presently has an average rating of “Moderate Buy” and a consensus target price of $74.10.

Matador Resources Stock Performance

Shares of NYSE MTDR opened at $65.29 on Tuesday. The company has a current ratio of 1.04, a quick ratio of 0.98 and a debt-to-equity ratio of 0.53. The company has a market capitalization of $7.80 billion, a P/E ratio of 9.26 and a beta of 3.32. Matador Resources has a 12 month low of $42.04 and a 12 month high of $71.08. The stock has a 50 day moving average of $65.07 and a 200-day moving average of $60.12.

Matador Resources (NYSE:MTDR) last announced its quarterly earnings results on Tuesday, April 23rd. The energy company reported $1.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.32. Matador Resources had a return on equity of 21.54% and a net margin of 30.14%. The business had revenue of $787.70 million during the quarter, compared to the consensus estimate of $740.99 million. During the same quarter last year, the firm posted $1.50 EPS. The company’s quarterly revenue was up 40.6% on a year-over-year basis. As a group, equities research analysts predict that Matador Resources will post 7.17 EPS for the current year.

Institutional Investors Weigh In On Matador Resources

A number of hedge funds have recently added to or reduced their stakes in MTDR. Cambridge Investment Research Advisors Inc. boosted its stake in Matador Resources by 1.5% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 27,979 shares of the energy company’s stock worth $1,868,000 after acquiring an additional 425 shares in the last quarter. Simplicity Wealth LLC acquired a new position in shares of Matador Resources during the first quarter valued at about $266,000. Louisiana State Employees Retirement System boosted its position in shares of Matador Resources by 2.6% during the 1st quarter. Louisiana State Employees Retirement System now owns 31,900 shares of the energy company’s stock worth $2,130,000 after purchasing an additional 800 shares in the last quarter. Wesbanco Bank Inc. acquired a new stake in shares of Matador Resources in the 1st quarter valued at about $1,372,000. Finally, Seven Grand Managers LLC bought a new stake in Matador Resources in the 1st quarter valued at about $5,842,000. 91.98% of the stock is currently owned by institutional investors.

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.