Mizuho Cuts Matador Resources (NYSE:MTDR) Price Target to $73.00

Matador Resources (NYSE:MTDR) had its price target dropped by equities researchers at Mizuho from $74.00 to $73.00 in a research report issued on Monday,Benzinga reports. The firm presently has an “outperform” rating on the energy company’s stock. Mizuho’s target price suggests a potential upside of 31.27% from the stock’s previous close.

Several other research firms also recently commented on MTDR. Stephens boosted their price target on shares of Matador Resources from $78.00 to $80.00 and gave the stock an “overweight” rating in a research note on Friday, December 6th. Wells Fargo & Company lowered their target price on Matador Resources from $89.00 to $87.00 and set an “overweight” rating for the company in a research note on Tuesday, October 1st. Truist Financial reduced their price target on Matador Resources from $86.00 to $75.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. KeyCorp lowered their price objective on Matador Resources from $76.00 to $72.00 and set an “overweight” rating for the company in a research report on Wednesday, October 16th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Matador Resources from $77.00 to $71.00 and set an “overweight” rating on the stock in a report on Wednesday, October 30th. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $75.00.

Matador Resources Trading Down 1.9 %

Shares of MTDR stock traded down $1.08 on Monday, hitting $55.61. The stock had a trading volume of 235,036 shares, compared to its average volume of 1,494,359. The company’s 50 day moving average price is $55.51 and its 200-day moving average price is $56.31. Matador Resources has a 1 year low of $47.15 and a 1 year high of $71.08. The firm has a market capitalization of $6.94 billion, a P/E ratio of 7.36 and a beta of 3.26. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.88 and a quick ratio of 0.84.

Matador Resources (NYSE:MTDR) last issued its quarterly earnings results on Tuesday, October 22nd. The energy company reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.78 by $0.11. Matador Resources had a net margin of 27.45% and a return on equity of 20.01%. The business had revenue of $770.20 million for the quarter, compared to analysts’ expectations of $836.69 million. During the same quarter in the prior year, the company earned $1.86 earnings per share. The business’s quarterly revenue was up 9.8% on a year-over-year basis. Analysts anticipate that Matador Resources will post 7.49 earnings per share for the current year.

Insider Activity at Matador Resources

In other news, EVP Glenn W. Stetson acquired 1,000 shares of the company’s stock in a transaction on Wednesday, October 30th. The shares were bought at an average cost of $51.33 per share, with a total value of $51,330.00. Following the purchase, the executive vice president now owns 85,935 shares of the company’s stock, valued at $4,411,043.55. This represents a 1.18 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP William Thomas Elsener purchased 800 shares of the company’s stock in a transaction dated Friday, December 13th. The shares were purchased at an average price of $56.60 per share, for a total transaction of $45,280.00. Following the completion of the purchase, the executive vice president now owns 102,964 shares of the company’s stock, valued at approximately $5,827,762.40. This trade represents a 0.78 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought a total of 4,105 shares of company stock valued at $222,501 in the last three months. 6.10% of the stock is currently owned by company insiders.

Institutional Trading of Matador Resources

A number of institutional investors have recently modified their holdings of MTDR. Raymond James Trust N.A. lifted its holdings in Matador Resources by 3.6% in the second quarter. Raymond James Trust N.A. now owns 5,714 shares of the energy company’s stock valued at $341,000 after acquiring an additional 198 shares during the period. ClearAlpha Technologies LP boosted its stake in shares of Matador Resources by 4.3% during the 3rd quarter. ClearAlpha Technologies LP now owns 5,250 shares of the energy company’s stock worth $259,000 after acquiring an additional 218 shares in the last quarter. Fifth Third Bancorp grew its holdings in Matador Resources by 16.6% in the second quarter. Fifth Third Bancorp now owns 1,709 shares of the energy company’s stock valued at $102,000 after purchasing an additional 243 shares during the last quarter. Quarry LP grew its stake in Matador Resources by 47.5% in the 2nd quarter. Quarry LP now owns 779 shares of the energy company’s stock valued at $46,000 after acquiring an additional 251 shares during the last quarter. Finally, Greenleaf Trust increased its stake in shares of Matador Resources by 3.8% during the 3rd quarter. Greenleaf Trust now owns 7,086 shares of the energy company’s stock worth $350,000 after purchasing an additional 260 shares in the last quarter. 91.98% of the stock is currently owned by hedge funds and other 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.