Matador Resources (NYSE:MTDR) Price Target Lowered to $66.00 at Morgan Stanley

Matador Resources (NYSE:MTDR) had its price objective reduced by investment analysts at Morgan Stanley from $75.00 to $66.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has an “equal weight” rating on the energy company’s stock. Morgan Stanley’s target price points to a potential upside of 31.75% from the stock’s previous close.

Several other analysts have also issued reports on the stock. BMO Capital Markets upped their price target on shares of Matador Resources from $65.00 to $72.00 and gave the company an “outperform” rating in a research report on Monday, April 6th. UBS Group boosted their target price on Matador Resources from $50.00 to $52.00 and gave the company a “neutral” rating in a research note on Thursday, March 5th. Zacks Research cut Matador Resources from a “strong-buy” rating to a “hold” rating in a report on Monday, May 25th. Wells Fargo & Company raised their price target on Matador Resources from $54.00 to $63.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 16th. Finally, KeyCorp lifted their price target on Matador Resources from $61.00 to $73.00 and gave the stock an “overweight” rating in a research note on Thursday, April 2nd. Eleven equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, Matador Resources has an average rating of “Moderate Buy” and an average price target of $64.38.

Matador Resources Trading Up 0.4%

Shares of MTDR traded up $0.20 during mid-day trading on Monday, reaching $50.09. The company’s stock had a trading volume of 903,852 shares, compared to its average volume of 1,852,983. The stock has a market cap of $6.22 billion, a PE ratio of 12.90 and a beta of 0.75. The company has a current ratio of 0.73, a quick ratio of 0.70 and a debt-to-equity ratio of 0.59. Matador Resources has a 52 week low of $37.14 and a 52 week high of $66.84. The company’s fifty day moving average price is $55.98 and its two-hundred day moving average price is $51.98.

Matador Resources (NYSE:MTDR) last announced its quarterly earnings data on Wednesday, May 6th. The energy company reported $1.53 earnings per share (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 company 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 revenue was down 33.8% on a year-over-year basis. On average, analysts predict that Matador Resources will post 7.45 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, COO Glenn W. Stetson acquired 500 shares of the stock in a transaction on Tuesday, June 9th. The stock was acquired at an average cost of $53.41 per share, for a total transaction of $26,705.00. Following the completion of the acquisition, the chief operating officer directly owned 95,470 shares of the company’s stock, valued at approximately $5,099,052.70. This represents a 0.53% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Joseph Wm Foran purchased 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 9th. The shares were purchased at an average price of $53.07 per share, for a total transaction of $106,140.00. Following the completion of the transaction, the chief executive officer directly owned 11,479 shares of the company’s stock, valued at $609,190.53. This represents a 21.10% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last 90 days, insiders acquired 11,907 shares of company stock worth $635,712. 5.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Matador Resources

Several hedge funds have recently bought and sold shares of the business. Carlson Capital L.P. grew its stake in shares of Matador Resources by 73.1% in the 1st quarter. Carlson Capital L.P. now owns 33,757 shares of the energy company’s stock worth $2,133,000 after buying an additional 14,257 shares during the last quarter. Norris Financial Group LLC bought a new position in Matador Resources during the first quarter valued at approximately $250,000. Cim Investment Management Inc. purchased a new position in shares of Matador Resources in the 1st quarter worth $264,000. Altshuler Shaham Ltd grew its stake in shares of Matador Resources by 36.7% during the 1st quarter. Altshuler Shaham Ltd now owns 748 shares of the energy company’s stock valued at $47,000 after purchasing an additional 201 shares during the period. Finally, Smith Group Asset Management LLC grew its position in Matador Resources by 78.2% during the first quarter. Smith Group Asset Management LLC now owns 12,571 shares of the energy company’s stock valued at $794,000 after buying an additional 5,515 shares during the period. Institutional investors own 91.98% of the company’s stock.

Matador Resources Company Profile

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.