Matador Resources (NYSE:MTDR) Price Target Cut to $72.00 by Analysts at KeyCorp

Matador Resources (NYSE:MTDR) had its price objective dropped by analysts at KeyCorp from $76.00 to $72.00 in a note issued to investors on Wednesday, Benzinga reports. The firm currently has an “overweight” rating on the energy company’s stock. KeyCorp’s price objective points to a potential upside of 42.10% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the stock. Benchmark reissued a “buy” rating and set a $62.00 price target on shares of Matador Resources in a research report on Wednesday, July 24th. Stephens boosted their price target on shares of Matador Resources from $74.00 to $76.00 and gave the stock an “overweight” rating in a research report on Friday, September 27th. Mizuho cut their price target on shares of Matador Resources from $85.00 to $74.00 and set an “outperform” rating on the stock in a research report on Monday, September 16th. Royal Bank of Canada reissued an “outperform” rating and set a $75.00 price target on shares of Matador Resources in a research report on Friday, September 27th. Finally, Wells Fargo & Company dropped their target price on shares of Matador Resources from $89.00 to $87.00 and set an “overweight” rating on the stock in a report on Tuesday, October 1st. Two investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $75.54.

Matador Resources Price Performance

Shares of NYSE MTDR opened at $50.67 on Wednesday. The firm has a market cap of $6.32 billion, a PE ratio of 6.94 and a beta of 3.26. The company has a current ratio of 0.86, a quick ratio of 0.82 and a debt-to-equity ratio of 0.41. Matador Resources has a 1-year low of $47.15 and a 1-year high of $71.08. The company has a fifty day moving average price of $53.42 and a 200 day moving average price of $59.01.

Matador Resources (NYSE:MTDR) last issued its quarterly earnings results on Tuesday, July 23rd. The energy company reported $2.05 EPS for the quarter, topping the consensus estimate of $1.76 by $0.29. Matador Resources had a net margin of 29.01% and a return on equity of 21.12%. The firm had revenue of $847.14 million for the quarter, compared to analysts’ expectations of $822.55 million. During the same period in the previous year, the firm posted $1.42 EPS. The company’s revenue for the quarter was up 32.8% on a year-over-year basis. Research analysts predict that Matador Resources will post 7.4 earnings per share for the current fiscal year.

Insider Buying and Selling at Matador Resources

In related news, Director Robert Gaines Baty purchased 500 shares of the stock in a transaction on Friday, September 13th. The shares were purchased at an average cost of $50.58 per share, with a total value of $25,290.00. Following the acquisition, the director now directly owns 67,617 shares in the company, valued at $3,420,067.86. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. In other Matador Resources news, Director Robert Gaines Baty bought 500 shares of the firm’s stock in a transaction on Friday, September 13th. The shares were purchased at an average price of $50.58 per share, for a total transaction of $25,290.00. Following the transaction, the director now directly owns 67,617 shares in the company, valued at approximately $3,420,067.86. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Joseph Wm Foran bought 2,000 shares of the firm’s stock in a transaction on Friday, August 2nd. The shares were acquired at an average price of $55.96 per share, for a total transaction of $111,920.00. Following the transaction, the chief executive officer now owns 35,251 shares in the company, valued at approximately $1,972,645.96. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased a total of 12,300 shares of company stock valued at $634,615 in the last three months. 6.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Wellington Management Group LLP boosted its position in shares of Matador Resources by 44.8% during the 4th quarter. Wellington Management Group LLP now owns 1,065,291 shares of the energy company’s stock worth $60,572,000 after acquiring an additional 329,522 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Matador Resources by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 11,020,992 shares of the energy company’s stock worth $626,654,000 after acquiring an additional 83,067 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in shares of Matador Resources by 2.8% during the 4th quarter. PNC Financial Services Group Inc. now owns 10,797 shares of the energy company’s stock worth $614,000 after acquiring an additional 294 shares in the last quarter. HighPoint Advisor Group LLC acquired a new stake in shares of Matador Resources during the 4th quarter worth approximately $434,000. Finally, Rise Advisors LLC acquired a new stake in shares of Matador Resources during the 1st quarter worth approximately $34,000. Institutional investors and hedge funds own 91.98% of the company’s stock.

About Matador Resources

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.