Matador Resources (NYSE:MTDR) Stock Price Target Cut by Mizuho

Key Points

• Mizuho cut Matador Resources’ price target from $77 to $71 while maintaining an “outperform” rating, implying 23.2% upside from the prior close.
• Analyst sentiment remains generally positive, with 13 Buy ratings and five Holds producing a “Moderate Buy” consensus and average target of $66.44.
• Matador reported strong quarterly results, exceeding earnings and revenue estimates, while insiders bought $1.21 million of shares over the past 90 days and institutional investors own 91.98% of the stock.

Matador Resources (NYSE:MTDR - Get Free Report) had its price objective cut by Mizuho from $77.00 to $71.00 in a note issued to investors on Monday, Benzinga reports. The firm currently has an "outperform" rating on the energy company's stock. Mizuho's price objective suggests a potential upside of 23.20% from the stock's previous close.

MTDR has been the subject of several other research reports. UBS Group raised their target price 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. KeyCorp boosted their price target on shares of Matador Resources from $68.00 to $73.00 and gave the stock an "overweight" rating in a research note on Tuesday, September 15th. Seaport Research Partners assumed coverage on shares of Matador Resources in a report on Thursday, September 3rd. They set a "neutral" rating for the company. Scotiabank initiated coverage on shares of Matador Resources in a research report on Thursday. They issued a "sector perform" rating and a $59.00 price objective for the company. Finally, Stephens raised their price objective on shares of Matador Resources from $92.00 to $93.00 and gave the company an "overweight" rating in a research report on Tuesday, July 28th. Thirteen analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $66.44.

Matador Resources Stock Performance

Shares of NYSE:MTDR traded up $0.11 during trading on Monday, reaching $57.63. The company had a trading volume of 377,134 shares, compared to its average volume of 1,850,080. The firm has a market capitalization of $7.13 billion, a price-to-earnings ratio of 9.88 and a beta of 0.98. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.65 and a quick ratio of 0.62. The stock's fifty day moving average price is $55.91 and its 200 day moving average price is $55.25. Matador Resources has a fifty-two week low of $37.14 and a fifty-two week high of $66.84.

Matador Resources (NYSE:MTDR - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The energy company reported $2.61 earnings per share for the quarter, topping the consensus estimate of $2.08 by $0.53. Matador Resources had a return on equity of 13.18% and a net margin of 19.85%. The firm had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.06 billion. During the same period last year, the company earned $1.53 earnings per share. The company's revenue for the quarter was up 32.5% on a year-over-year basis. As a group, equities research analysts predict that Matador Resources will post 7.62 EPS for the current year.

Insiders Place Their Bets

In related news, EVP William Elsener acquired 850 shares of Matador Resources stock in a transaction that occurred on Monday, August 10th. The stock was purchased at an average price of $50.94 per share, for a total transaction of $43,299.00. Following the completion of 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 ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Christopher P. Calvert acquired 2,500 shares of Matador Resources stock in a transaction that occurred on Thursday, August 27th. The stock was bought at an average price of $56.64 per share, with a total value of $141,600.00. Following the purchase, the chief financial officer directly owned 44,000 shares of the company's stock, valued at approximately $2,492,160. This trade represents a 6.02% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders have purchased 23,144 shares of company stock worth $1,211,793. Corporate insiders own 5.90% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. acquired a new stake in Matador Resources during the second quarter worth approximately $573,936,000. Dimensional Fund Advisors LP grew its stake in Matador Resources by 4.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 6,948,104 shares of the energy company's stock worth $439,010,000 after acquiring an additional 277,839 shares during the period. First Trust Advisors LP grew its stake in Matador Resources by 103.3% in the 1st quarter. First Trust Advisors LP now owns 1,595,415 shares of the energy company's stock worth $100,798,000 after acquiring an additional 810,808 shares during the period. Bank of New York Mellon Corp raised its holdings in Matador Resources by 2.3% in the 1st quarter. Bank of New York Mellon Corp now owns 1,186,046 shares of the energy company's stock valued at $74,934,000 after acquiring an additional 26,205 shares during the last quarter. Finally, Bank of America Corp DE acquired a new position in Matador Resources in the 2nd quarter valued at $42,184,000. 91.98% of the stock is owned by hedge funds and other institutional investors.

Matador Resources Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.