Raymond James Issues Pessimistic Forecast for Matador Resources (NYSE:MTDR) Stock Price

Matador Resources (NYSE:MTDR) had its target price cut by investment analysts at Raymond James from $77.00 to $67.00 in a report issued on Monday,Benzinga reports. The brokerage currently has an “outperform” rating on the energy company’s stock. Raymond James’ price target would suggest a potential upside of 46.29% from the stock’s current price.

Other equities analysts have also issued reports about the company. Morgan Stanley assumed coverage on Matador Resources in a report on Friday, January 10th. They issued an “equal weight” rating and a $78.00 price objective for the company. Benchmark reissued a “buy” rating and issued a $62.00 price target on shares of Matador Resources in a research note on Friday, January 17th. Stephens lifted their price objective on shares of Matador Resources from $78.00 to $80.00 and gave the company an “overweight” rating in a research note on Friday, December 6th. Mizuho decreased their target price on shares of Matador Resources from $74.00 to $73.00 and set an “outperform” rating for the company in a research report on Monday, December 16th. Finally, TD Cowen boosted their price target on shares of Matador Resources from $74.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. One analyst has rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, Matador Resources presently has an average rating of “Moderate Buy” and a consensus price target of $74.60.

Matador Resources Stock Performance

Shares of NYSE MTDR traded up $0.53 during mid-day trading on Monday, hitting $45.80. The company had a trading volume of 397,759 shares, compared to its average volume of 1,254,702. Matador Resources has a 12 month low of $43.89 and a 12 month high of $71.08. The stock has a market cap of $5.73 billion, a price-to-earnings ratio of 6.41 and a beta of 3.17. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.93 and a quick ratio of 0.84. The firm’s 50 day simple moving average is $57.21 and its two-hundred day simple moving average is $55.34.

Matador Resources (NYSE:MTDR) last announced its quarterly earnings results on Tuesday, February 18th. The energy company reported $1.83 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.88 by ($0.05). Matador Resources had a net margin of 25.26% and a return on equity of 18.52%. The firm had revenue of $970.37 million for the quarter, compared to analyst estimates of $967.10 million. As a group, equities research analysts forecast that Matador Resources will post 8.53 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Joseph Wm Foran bought 6,000 shares of the business’s stock in a transaction on Friday, February 21st. The shares were bought at an average cost of $53.94 per share, with a total value of $323,640.00. Following the purchase, the chief executive officer now directly owns 39,379 shares in the company, valued at $2,124,103.26. This trade represents a 17.98 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP William Thomas Elsener bought 800 shares of the firm’s stock in a transaction dated Friday, December 13th. The stock was acquired at an average cost of $56.60 per share, with a total value of $45,280.00. Following the transaction, the executive vice president now owns 102,964 shares of the company’s stock, valued at $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. In the last quarter, insiders have purchased 21,530 shares of company stock worth $1,119,092. Company insiders own 6.10% of the company’s stock.

Institutional Trading of Matador Resources

Several institutional investors have recently made changes to their positions in the stock. Franklin Resources Inc. lifted its position in Matador Resources by 12.0% in the 3rd quarter. Franklin Resources Inc. now owns 1,008,421 shares of the energy company’s stock worth $54,122,000 after buying an additional 107,827 shares in the last quarter. Loomis Sayles & Co. L P increased its stake in shares of Matador Resources by 16.8% in the third quarter. Loomis Sayles & Co. L P now owns 455,662 shares of the energy company’s stock worth $22,519,000 after acquiring an additional 65,487 shares during the last quarter. Stifel Financial Corp raised its holdings in shares of Matador Resources by 81.2% during the third quarter. Stifel Financial Corp now owns 30,304 shares of the energy company’s stock worth $1,498,000 after acquiring an additional 13,583 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in Matador Resources by 16.9% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 139,254 shares of the energy company’s stock valued at $8,088,000 after purchasing an additional 20,172 shares during the last quarter. Finally, HITE Hedge Asset Management LLC purchased a new position in Matador Resources in the third quarter valued at about $10,526,000. 91.98% of the stock is currently owned by institutional investors and hedge funds.

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.