Matador Resources (NYSE:MTDR) Given New $69.00 Price Target at Mizuho

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 - Get Free Report) had its target price reduced by analysts at Mizuho from $73.00 to $69.00 in a research note issued on Monday,Benzinga reports. The firm presently has an "outperform" rating on the energy company's stock. Mizuho's price target points to a potential upside of 47.73% from the stock's previous close.

A number of other equities analysts have also commented on MTDR. Raymond James Financial raised their price target on Matador Resources from $60.00 to $63.00 and gave the stock 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. Bank of America assumed coverage on Matador Resources in a research report on Monday, May 19th. They set a "buy" rating and a $56.00 price objective on the stock. William Blair began coverage on shares of Matador Resources in a report on Monday, August 25th. They set an "outperform" rating for the company. Finally, KeyCorp decreased their price objective on shares of Matador Resources from $62.00 to $61.00 and set an "overweight" rating for the company in a report on Wednesday, September 3rd. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $67.27.

Matador Resources Price Performance

MTDR stock traded down $0.95 during midday trading on Monday, reaching $46.71. 600,483 shares of the stock were exchanged, compared to its average volume of 1,667,644. The company has a fifty day moving average price of $49.23 and a 200 day moving average price of $46.86. Matador Resources has a 52 week low of $35.19 and a 52 week high of $64.04. The stock has a market capitalization of $5.81 billion, a PE ratio of 6.84 and a beta of 1.49. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.85 and a quick ratio of 0.81.

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, beating the consensus estimate of $1.29 by $0.24. Matador Resources had a return on equity of 16.53% and a net margin of 22.57%.The company had revenue of $895.31 million for the quarter, compared to analyst estimates of $892.86 million. During the same quarter in the prior year, the company earned $2.05 EPS. The firm's revenue for the quarter was up 8.2% compared to the same quarter last year. As a group, analysts expect that Matador Resources will post 8.53 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, EVP William Thomas Elsener bought 600 shares of the business's stock in a transaction dated Thursday, September 11th. The stock was acquired at an average price of $48.46 per share, with a total value of $29,076.00. Following the completion of the purchase, the executive vice president directly owned 112,069 shares of the company's stock, valued at approximately $5,430,863.74. This trade represents a 0.54% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Joseph Wm Foran purchased 5,000 shares of the stock in a transaction that occurred on Friday, August 1st. The shares were acquired at an average price of $49.17 per share, for a total transaction of $245,850.00. Following the completion of the transaction, the chief executive officer directly owned 6,606 shares of the company's stock, valued at $324,817.02. The trade was a 311.33% increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 9,600 shares of company stock valued at $463,726. Corporate insiders own 5.80% of the company's stock.

Institutional Investors Weigh In On Matador Resources

A number of large investors have recently modified their holdings of the company. D.A. Davidson & CO. acquired a new stake in shares of Matador Resources in the 1st quarter worth $263,000. GAMMA Investing LLC lifted its position in Matador Resources by 42.8% during the first quarter. GAMMA Investing LLC now owns 2,698 shares of the energy company's stock valued at $138,000 after buying an additional 809 shares in the last quarter. Teacher Retirement System of Texas purchased a new stake in shares of Matador Resources during the first quarter valued at approximately $885,000. Delphi Management Inc. MA increased its stake in shares of Matador Resources by 118.6% in the first quarter. Delphi Management Inc. MA now owns 23,302 shares of the energy company's stock worth $1,190,000 after buying an additional 12,642 shares during the last quarter. Finally, OneDigital Investment Advisors LLC bought a new stake in shares of Matador Resources in the first quarter worth $200,000. 91.98% of the stock is owned by hedge funds and other 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.

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