Mizuho Cuts Matador Resources (NYSE:MTDR) Price Target to $69.00

Key Points

• Mizuho has reduced its price target for Matador Resources from $73.00 to $69.00, while maintaining an "outperform" rating, indicating a potential upside of 47.73% from the stock's previous close.
• Matador Resources recently reported an earnings per share (EPS) of $1.53, exceeding analyst estimates and representing an 8.2% revenue increase from the same quarter last year.
• Despite the price target reduction, analysts remain optimistic with 1 Strong Buy, 13 Buy, and 2 Hold ratings, leading to an average rating of "Moderate Buy" with a consensus price target of $67.27.

Matador Resources (NYSE:MTDR - Free Report) had its price target lowered by Mizuho from $73.00 to $69.00 in a research note issued to investors on Monday morning,Benzinga reports. The firm currently has an outperform rating on the energy company's stock.

Other equities analysts have also recently issued research reports about the company. Bank of America initiated coverage on Matador Resources in a report on Monday, May 19th. They issued a "buy" rating and a $56.00 price target on the stock. UBS Group decreased their price target on Matador Resources from $49.00 to $48.00 and set a "neutral" rating on the stock in a report on Wednesday, August 20th. Raymond James Financial raised their price target on Matador Resources from $60.00 to $63.00 and gave the company an "outperform" rating in a report on Thursday, July 31st. TD Cowen raised Matador Resources to a "strong-buy" rating in a research note on Monday, July 7th. Finally, Morgan Stanley increased their target price on Matador Resources from $60.00 to $62.00 and gave the company an "equal weight" rating in a research note on Monday, August 18th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $67.27.

Matador Resources Price Performance

Shares of MTDR stock traded down $2.00 during trading hours on Monday, hitting $45.33. 2,693,403 shares of the company's stock were exchanged, compared to its average volume of 1,680,838. The stock's 50-day moving average is $48.92 and its 200-day moving average is $46.83. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.85 and a quick ratio of 0.81. The stock has a market cap of $5.64 billion, a price-to-earnings ratio of 6.64 and a beta of 1.49. Matador Resources has a 52 week low of $35.19 and a 52 week high of $64.04.

Matador Resources (NYSE:MTDR - Get Free Report) last announced its earnings results on Tuesday, July 22nd. The energy company reported $1.53 EPS for the quarter, topping the consensus estimate of $1.29 by $0.24. The company had revenue of $895.31 million for the quarter, compared to analysts' expectations of $892.86 million. Matador Resources had a return on equity of 16.53% and a net margin of 22.57%.The business's revenue for the quarter was up 8.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.05 earnings per share. As a group, research analysts forecast that Matador Resources will post 8.53 EPS for the current year.

Matador Resources Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 5th. Stockholders of record on Friday, August 15th were given a dividend of $0.3125 per share. The ex-dividend date of this dividend was Friday, August 15th. This represents a $1.25 dividend on an annualized basis and a dividend yield of 2.8%. Matador Resources's dividend payout ratio (DPR) is currently 18.30%.

Insider Transactions at Matador Resources

In other Matador Resources news, CEO Joseph Wm Foran purchased 2,000 shares of the company's stock in a transaction dated Friday, September 12th. The shares were bought at an average price of $48.15 per share, with a total value of $96,300.00. Following the completion of the transaction, the chief executive officer directly owned 8,025 shares in the company, valued at $386,403.75. This trade represents a 33.20% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP William Thomas Elsener acquired 600 shares of the firm's stock in a transaction that occurred on Thursday, September 11th. The shares were purchased at an average price of $48.46 per share, with a total value of $29,076.00. Following the completion of the acquisition, the executive vice president owned 112,069 shares of the company's stock, valued at $5,430,863.74. This represents a 0.54% increase in their position. The disclosure for this purchase can be found here. Insiders have acquired a total of 11,380 shares of company stock valued at $549,188 over the last 90 days. 5.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of MTDR. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of Matador Resources by 298.5% during the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 534 shares of the energy company's stock worth $25,000 after buying an additional 400 shares in the last quarter. Kestra Investment Management LLC grew its stake in Matador Resources by 225.2% in the second quarter. Kestra Investment Management LLC now owns 517 shares of the energy company's stock valued at $25,000 after purchasing an additional 358 shares in the last quarter. MCF Advisors LLC bought a new position in Matador Resources in the first quarter valued at approximately $26,000. MassMutual Private Wealth & Trust FSB grew its stake in Matador Resources by 93.0% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 554 shares of the energy company's stock valued at $26,000 after purchasing an additional 267 shares in the last quarter. Finally, Allworth Financial LP grew its stake in Matador Resources by 182.0% in the second quarter. Allworth Financial LP now owns 564 shares of the energy company's stock valued at $27,000 after purchasing an additional 364 shares in the last quarter. 91.98% of the stock is currently owned by institutional investors.

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.