UBS Group Issues Pessimistic Forecast for Matador Resources (NYSE:MTDR) Stock Price

Matador Resources (NYSE:MTDR - Get Free Report) had its target price lowered by stock analysts at UBS Group from $64.00 to $62.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has a "neutral" rating on the energy company's stock. UBS Group's price objective suggests a potential upside of 17.97% from the company's previous close.

Other equities analysts also recently issued research reports about the stock. Seaport Research Partners assumed coverage on shares of Matador Resources in a report on Thursday, September 3rd. They issued a "neutral" rating on the stock. Morgan Stanley boosted their target price on shares of Matador Resources from $66.00 to $69.00 and gave the company an "equal weight" rating in a research report on Thursday, October 15th. KeyCorp upped their target price on shares of Matador Resources from $68.00 to $73.00 and gave the company an "overweight" rating in a report on Tuesday, September 15th. Truist Financial increased their price target on shares of Matador Resources from $65.00 to $66.00 and gave the stock a "buy" rating in a research report on Thursday, November 5th. Finally, Weiss Ratings downgraded shares of Matador Resources from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Wednesday, November 4th. Eleven equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $68.00.

Matador Resources Stock Performance

Matador Resources stock traded up $0.48 during mid-day trading on Thursday, reaching $52.56. 106,450 shares of the stock traded hands, compared to its average volume of 1,838,786. The stock has a market capitalization of $6.50 billion, a PE ratio of 9.03 and a beta of 0.93. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.55 and a quick ratio of 0.53. Matador Resources has a 12-month low of $39.55 and a 12-month high of $66.84. The business's 50-day moving average is $55.78 and its 200-day moving average is $54.62.

Matador Resources (NYSE:MTDR - Get Free Report) last announced its earnings results on Tuesday, November 3rd. The energy company reported $2.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.85 by $0.23. The business had revenue of $1.39 billion for the quarter, compared to analysts' expectations of $1.12 billion. Matador Resources had a return on equity of 14.32% and a net margin of 18.60%. The business's revenue for the quarter was up 33.9% on a year-over-year basis. During the same period last year, the firm posted $1.36 earnings per share. As a group, sell-side analysts predict that Matador Resources will post 8.34 EPS for the current fiscal year.

Insider Transactions at Matador Resources

In related news, COO Glenn Stetson acquired 1,000 shares of the firm's stock in a transaction dated Friday, November 6th. The shares were purchased at an average price of $50.80 per share, with a total value of $50,800.00. Following the completion of the purchase, the chief operating officer directly owned 96,769 shares of the company's stock, valued at $4,915,865.20. This represents a 1.04% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP William Elsener acquired 900 shares of the stock in a transaction dated Thursday, November 5th. The shares were bought at an average cost of $51.48 per share, for a total transaction of $46,332.00. Following the completion of the transaction, the executive vice president owned 115,779 shares in the company, valued at approximately $5,960,302.92. This represents a 0.78% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders have purchased 14,705 shares of company stock valued at $772,016. Company insiders own 5.90% of the company's stock.

Institutional Investors Weigh In On Matador Resources

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new position in Matador Resources during the second quarter valued at approximately $573,936,000. Dimensional Fund Advisors LP increased its stake in shares of Matador Resources by 4.2% in the first quarter. Dimensional Fund Advisors LP now owns 6,948,104 shares of the energy company's stock worth $439,010,000 after purchasing an additional 277,839 shares in the last quarter. First Trust Advisors LP increased its stake in shares of Matador Resources by 103.3% in the first quarter. First Trust Advisors LP now owns 1,595,415 shares of the energy company's stock worth $100,798,000 after purchasing an additional 810,808 shares in the last quarter. GW&K Investment Management LLC raised its position in shares of Matador Resources by 2.1% during the 3rd quarter. GW&K Investment Management LLC now owns 1,406,098 shares of the energy company's stock valued at $72,527,000 after purchasing an additional 28,704 shares during the period. Finally, Bank of New York Mellon Corp raised its position in shares of Matador Resources by 2.3% during 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 purchasing an additional 26,205 shares during the period. 91.98% of the stock is owned by hedge funds and other institutional investors.

Matador Resources Company Profile

Matador Resources Company is an independent energy company engaged in the exploration, development, production and acquisition of oil and natural gas. Its operations are focused primarily on the Delaware Basin in southeastern New Mexico and West Texas. Alongside its exploration and production business, Matador provides midstream services through its subsidiary San Mateo Midstream. These activities include gathering and processing natural gas and handling produced water, supporting the company's operations and serving other producers in the region.

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