Matador Resources (NYSE:MTDR) Given "Outperform" Rating at Raymond James Financial

Key Points

• Raymond James Financial has restated its "outperform" rating for Matador Resources, lowering the price target from $63.00 to $55.00, indicating a potential upside of 27.05% from the last close.
• Despite the lowered price targets from several analysts, Matador Resources maintains an average rating of "Moderate Buy" and a consensus target price of $65.79.
• CEO Joseph Wm Foran bought 2,000 shares at $48.15 each, reflecting confidence in the company's future performance as insiders collectively purchased over 11,000 shares recently.

Matador Resources (NYSE:MTDR - Get Free Report)'s stock had its "outperform" rating restated by research analysts at Raymond James Financial in a research note issued to investors on Monday,Benzinga reports. They currently have a $55.00 price target on the energy company's stock, down from their prior price target of $63.00. Raymond James Financial's price objective indicates a potential upside of 27.05% from the stock's previous close.

A number of other equities analysts have also commented on the stock. KeyCorp cut their price target on shares of Matador Resources from $62.00 to $61.00 and set an "overweight" rating on the stock in a report on Wednesday, September 3rd. 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 report on Wednesday, October 8th. Wells Fargo & Company cut their price target on shares of Matador Resources from $77.00 to $76.00 and set an "overweight" rating on the stock in a report on Monday, October 13th. UBS Group cut their price target on shares of Matador Resources from $49.00 to $48.00 and set a "neutral" rating on the stock in a report on Wednesday, August 20th. Finally, Bank of America dropped their target price on shares of Matador Resources from $56.00 to $55.00 and set a "buy" rating on the stock in a report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, Matador Resources has an average rating of "Moderate Buy" and a consensus target price of $65.79.

Matador Resources Price Performance

Shares of NYSE MTDR traded up $0.28 during midday trading on Monday, reaching $43.29. 613,003 shares of the company were exchanged, compared to its average volume of 1,686,212. The stock's 50-day moving average price is $46.80 and its 200-day moving average price is $46.15. The stock has a market cap of $5.39 billion, a P/E ratio of 6.34 and a beta of 1.41. Matador Resources has a one year low of $35.19 and a one year high of $64.04. The company has a quick ratio of 0.81, a current ratio of 0.85 and a debt-to-equity ratio of 0.57.

Matador Resources (NYSE:MTDR - Get Free Report) last posted its earnings results on Tuesday, July 22nd. The energy company reported $1.53 earnings per share for the quarter, topping analysts' consensus estimates of $1.29 by $0.24. The firm had revenue of $895.31 million for the quarter, compared to analysts' expectations of $892.86 million. Matador Resources had a net margin of 22.57% and a return on equity of 16.53%. The company's revenue was up 8.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.05 earnings per share. On average, sell-side analysts anticipate that Matador Resources will post 8.53 earnings per share for the current fiscal year.

Insider Buying and Selling at Matador Resources

In related news, CEO Joseph Wm Foran purchased 2,000 shares of the firm's stock in a transaction on Friday, September 12th. The stock was purchased at an average cost of $48.15 per share, with a total value of $96,300.00. Following the completion of the purchase, the chief executive officer owned 8,025 shares in the company, valued at approximately $386,403.75. This trade represents a 33.20% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Christopher P. Calvert purchased 1,000 shares of the firm's stock in a transaction on Friday, September 12th. The stock was bought at an average cost of $47.77 per share, with a total value of $47,770.00. Following the completion of the purchase, the chief operating officer owned 37,500 shares of the company's stock, valued at approximately $1,791,375. This represents a 2.74% increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 11,380 shares of company stock valued at $549,188. Corporate insiders own 5.80% of the company's stock.

Institutional Investors Weigh In On Matador Resources

Hedge funds and other institutional investors have recently made changes to their positions in the business. D.A. Davidson & CO. bought a new stake in shares of Matador Resources during the first quarter worth about $263,000. GAMMA Investing LLC increased its position in shares of Matador Resources by 42.8% during the first quarter. GAMMA Investing LLC now owns 2,698 shares of the energy company's stock worth $138,000 after acquiring an additional 809 shares in the last quarter. Teacher Retirement System of Texas bought a new stake in shares of Matador Resources during the first quarter worth about $885,000. OneDigital Investment Advisors LLC bought a new stake in shares of Matador Resources during the first quarter worth about $200,000. Finally, Penserra Capital Management LLC increased its position in shares of Matador Resources by 89.9% during the first quarter. Penserra Capital Management LLC now owns 15,570 shares of the energy company's stock worth $795,000 after acquiring an additional 7,369 shares in the last quarter. 91.98% of the stock is owned by institutional investors.

Matador Resources Company Profile

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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