Matador Resources (NYSE:MTDR) Given New $71.00 Price Target at Mizuho

Matador Resources (NYSE:MTDR) had its price target dropped by investment analysts at Mizuho from $77.00 to $71.00 in a research note issued to investors on Monday, Benzinga reports. The firm presently has an “outperform” rating on the energy company’s stock. Mizuho’s price objective indicates a potential upside of 23.20% from the stock’s previous close.

Other research analysts have also issued reports about the stock. Stephens increased their price objective on shares of Matador Resources from $92.00 to $93.00 and gave the stock an “overweight” rating in a report on Tuesday, July 28th. Truist Financial boosted their target price on shares of Matador Resources from $59.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday, October 14th. Weiss Ratings upgraded shares of Matador Resources from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, October 8th. Morgan Stanley upped their price target on shares of Matador Resources from $66.00 to $69.00 and gave the stock an “equal weight” rating in a research report on Thursday. Finally, UBS Group increased their price target on shares of Matador Resources from $56.00 to $64.00 and gave the stock a “neutral” rating in a research note on Monday, September 14th. Thirteen analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, Matador Resources presently has an average rating of “Moderate Buy” and a consensus price target of $66.44.

Matador Resources Trading Up 0.2%

NYSE MTDR traded up $0.11 during trading hours on Monday, hitting $57.63. 377,134 shares of the company’s stock were exchanged, compared to its average volume of 1,850,080. The business’s 50 day moving average is $55.91 and its 200-day moving average is $55.25. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.62 and a current ratio of 0.65. Matador Resources has a 12-month low of $37.14 and a 12-month high of $66.84. The firm has a market capitalization of $7.13 billion, a P/E ratio of 9.88 and a beta of 0.98.

Matador Resources (NYSE:MTDR) last posted its quarterly earnings results on Wednesday, August 5th. The energy company reported $2.61 EPS for the quarter, beating the consensus estimate of $2.08 by $0.53. The company had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.06 billion. Matador Resources had a return on equity of 13.18% and a net margin of 19.85%. The firm’s revenue was up 32.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.53 EPS. As a group, analysts anticipate that Matador Resources will post 7.62 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP William Elsener acquired 850 shares of Matador Resources stock in a transaction dated Monday, August 10th. The shares were acquired at an average cost of $50.94 per share, with a total value of $43,299.00. Following the purchase, the executive vice president directly owned 114,879 shares of the company’s stock, valued at approximately $5,851,936.26. This trade represents a 0.75% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Joseph Foran bought 555 shares of the firm’s stock in a transaction dated Wednesday, August 26th. The shares were purchased at an average price of $54.49 per share, with a total value of $30,241.95. Following the acquisition, the chief executive officer directly owned 4,772 shares in the company, valued at approximately $260,026.28. This trade represents a 13.16% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders bought 23,144 shares of company stock worth $1,211,793 over the last three months. 5.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Mitchell & Pahl Private Wealth LLC grew its stake in Matador Resources by 4.1% during the third quarter. Mitchell & Pahl Private Wealth LLC now owns 24,636 shares of the energy company’s stock worth $1,271,000 after buying an additional 975 shares during the period. GAMMA Investing LLC increased its position in shares of Matador Resources by 11.6% in the third quarter. GAMMA Investing LLC now owns 3,460 shares of the energy company’s stock worth $178,000 after acquiring an additional 361 shares in the last quarter. Congress Asset Management Co. increased its position in shares of Matador Resources by 36.4% in the third quarter. Congress Asset Management Co. now owns 142,738 shares of the energy company’s stock worth $7,362,000 after acquiring an additional 38,119 shares in the last quarter. Cim Investment Management Inc. raised its stake in shares of Matador Resources by 7.3% in the 2nd quarter. Cim Investment Management Inc. now owns 4,488 shares of the energy company’s stock valued at $223,000 after acquiring an additional 307 shares during the period. Finally, Sequoia Financial Advisors LLC raised its stake in shares of Matador Resources by 80.2% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 19,285 shares of the energy company’s stock valued at $960,000 after acquiring an additional 8,581 shares during the period. Hedge funds and other institutional investors own 91.98% of the company’s stock.

About Matador Resources

Matador Resources Company (NYSE: MTDR) is an independent energy company engaged in the exploration, development, production and acquisition of oil, natural gas and natural gas liquids. The company focuses primarily on unconventional, or shale, resource plays and operates across both upstream exploration and production and related midstream activities.

Matador’s principal exploration and production operations are located in the Delaware Basin in southeastern New Mexico and West Texas. Its midstream operations, conducted primarily through San Mateo Midstream, provide natural gas gathering and processing, crude oil and produced-water gathering, and water sourcing and disposal services that support the company’s operations and other producers in the region.

Founded in 2003 and headquartered in Dallas, Texas, Matador has historically expanded through development and acquisitions in U.S.