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

Key Points

• KeyCorp has reduced its price target for Matador Resources' stock from $61.00 to $52.00, while still maintaining an "overweight" rating, suggesting a potential upside of 28.08% from the current price.
• Several other research reports have also downgraded the stock's price targets recently, with demographics of analysts indicating a consensus rating of "Moderate Buy" and an average price target of $65.00.
• In the most recent quarterly earnings report, Matador Resources surpassed expectations with earnings of $1.36 per share on $939.02 million in revenue, reflecting a year-over-year revenue increase of 4.4%.

Matador Resources (NYSE:MTDR - Get Free Report) had its price target reduced by equities research analysts at KeyCorp from $61.00 to $52.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has an "overweight" rating on the energy company's stock. KeyCorp's price objective would indicate a potential upside of 28.08% from the stock's current price.

MTDR has been the subject of a number of other research reports. Mizuho decreased their price target on shares of Matador Resources from $69.00 to $67.00 and set an "outperform" rating for the company in a research note on Friday, October 10th. Royal Bank Of Canada lifted their price target on shares of Matador Resources from $60.00 to $62.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 8th. Bank of America decreased their price target on shares of Matador Resources from $56.00 to $55.00 and set a "buy" rating for the company in a research note on Thursday, October 16th. Weiss Ratings reissued a "hold (c-)" rating on shares of Matador Resources in a report on Tuesday, October 14th. Finally, Morgan Stanley cut their price objective on shares of Matador Resources from $62.00 to $61.00 and set an "equal weight" rating on the stock in a report on Tuesday, October 14th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, Matador Resources has a consensus rating of "Moderate Buy" and an average target price of $65.00.

Matador Resources Stock Up 2.3%

Shares of Matador Resources stock opened at $40.60 on Friday. Matador Resources has a 52-week low of $35.19 and a 52-week high of $64.04. The company has a 50 day moving average of $46.37 and a 200 day moving average of $46.15. The company has a quick ratio of 0.81, a current ratio of 0.73 and a debt-to-equity ratio of 0.55. The company has a market capitalization of $5.05 billion, a P/E ratio of 6.49 and a beta of 1.41.

Matador Resources (NYSE:MTDR - Get Free Report) last issued its quarterly earnings results on Tuesday, October 21st. The energy company reported $1.36 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.22 by $0.14. Matador Resources had a net margin of 20.46% and a return on equity of 14.80%. The company had revenue of $939.02 million during the quarter, compared to the consensus estimate of $893.22 million. During the same quarter in the previous year, the firm earned $1.89 earnings per share. The firm's quarterly revenue was up 4.4% on a year-over-year basis. As a group, research analysts forecast that Matador Resources will post 8.53 EPS for the current fiscal year.

Insider Activity

In other Matador Resources news, EVP William Thomas Elsener bought 600 shares of the business's stock in a transaction dated Thursday, September 11th. The shares were acquired at an average cost of $48.46 per share, with a total value of $29,076.00. Following the acquisition, the executive vice president directly owned 112,069 shares of the company's stock, valued at $5,430,863.74. The trade was a 0.54% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Joseph Wm Foran bought 5,000 shares of the business's stock in a transaction dated Friday, August 1st. The stock was acquired at an average cost of $49.17 per share, for a total transaction of $245,850.00. Following the completion of the acquisition, the chief executive officer directly owned 6,606 shares in the company, valued at approximately $324,817.02. This trade represents a 311.33% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired 11,380 shares of company stock valued at $549,188 in the last ninety days. 5.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Matador Resources

A number of institutional investors have recently modified their holdings of MTDR. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of Matador Resources by 298.5% in the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 534 shares of the energy company's stock valued at $25,000 after acquiring an additional 400 shares during the period. Kestra Investment Management LLC increased its holdings in shares of Matador Resources by 225.2% in the 2nd quarter. Kestra Investment Management LLC now owns 517 shares of the energy company's stock valued at $25,000 after acquiring an additional 358 shares during the period. MCF Advisors LLC acquired a new position in shares of Matador Resources in the 1st quarter valued at $26,000. MassMutual Private Wealth & Trust FSB increased its holdings in shares of Matador Resources by 93.0% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 554 shares of the energy company's stock valued at $26,000 after acquiring an additional 267 shares during the period. Finally, Allworth Financial LP increased its holdings in shares of Matador Resources by 182.0% in the 2nd quarter. Allworth Financial LP now owns 564 shares of the energy company's stock valued at $27,000 after acquiring an additional 364 shares during the period. 91.98% of the stock is 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.

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