Matador Resources (NYSE:MTDR - Get Free Report) had its target price dropped by equities researchers at Bank of America from $56.00 to $55.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has a "buy" rating on the energy company's stock. Bank of America's target price indicates a potential upside of 27.52% from the company's previous close.
Other equities analysts have also issued research reports about the company. KeyCorp lowered their price objective on Matador Resources from $62.00 to $61.00 and set an "overweight" rating on the stock in a research note on Wednesday, September 3rd. Wells Fargo & Company reduced their price target on Matador Resources from $77.00 to $76.00 and set an "overweight" rating on the stock in a research report on Monday. Royal Bank Of Canada increased their price objective on Matador Resources from $60.00 to $62.00 and gave the company an "outperform" rating in a report on Wednesday, October 8th. Raymond James Financial increased their price objective on Matador Resources from $60.00 to $63.00 and gave the company an "outperform" rating in a report on Thursday, July 31st. Finally, Morgan Stanley dropped their price target on Matador Resources from $62.00 to $61.00 and set an "equal weight" rating on the stock in a research note on Tuesday. 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 stock. According to MarketBeat, Matador Resources presently has an average rating of "Moderate Buy" and an average target price of $66.36.
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Matador Resources Stock Performance
Shares of Matador Resources stock opened at $43.13 on Thursday. Matador Resources has a 52 week low of $35.19 and a 52 week high of $64.04. The firm has a market capitalization of $5.37 billion, a P/E ratio of 6.31 and a beta of 1.41. The company has a quick ratio of 0.81, a current ratio of 0.85 and a debt-to-equity ratio of 0.57. The company has a 50 day moving average price of $46.93 and a 200 day moving average price of $46.30.
Matador Resources (NYSE:MTDR - Get Free Report) last announced its quarterly earnings data on Tuesday, July 22nd. The energy company reported $1.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.29 by $0.24. The firm had revenue of $895.31 million during 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 company's revenue for the quarter was up 8.2% compared to the same quarter last year. During the same period last year, the business posted $2.05 earnings per share. Sell-side analysts expect that Matador Resources will post 8.53 EPS for the current year.
Insider Activity
In other Matador Resources news, EVP William Thomas Elsener bought 600 shares of the stock in a transaction that occurred on Thursday, September 11th. The shares were purchased at an average cost of $48.46 per share, for a total transaction of $29,076.00. Following the transaction, the executive vice president directly owned 112,069 shares in the company, valued at $5,430,863.74. The trade was a 0.54% 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, CEO Joseph Wm Foran acquired 5,000 shares of the company's stock in a transaction dated Friday, August 1st. The stock was purchased at an average cost of $49.17 per share, for a total transaction of $245,850.00. Following the purchase, the chief executive officer directly owned 6,606 shares in the company, valued at approximately $324,817.02. This represents a 311.33% increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders acquired 11,380 shares of company stock valued at $549,188. Company insiders own 5.80% of the company's stock.
Hedge Funds Weigh In On Matador Resources
Hedge funds have recently modified their holdings of the stock. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in 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 worth $25,000 after acquiring an additional 400 shares in the last quarter. Kestra Investment Management LLC increased its stake in 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 buying an additional 358 shares during the period. MCF Advisors LLC purchased a new stake in Matador Resources in the 1st quarter worth approximately $26,000. MassMutual Private Wealth & Trust FSB increased its stake in shares of Matador Resources by 93.0% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 554 shares of the energy company's stock worth $26,000 after acquiring an additional 267 shares during the last quarter. Finally, Allworth Financial LP increased its stake in shares of Matador Resources by 182.0% in the second quarter. Allworth Financial LP now owns 564 shares of the energy company's stock worth $27,000 after acquiring an additional 364 shares during the last quarter. 91.98% of the stock is currently owned by institutional investors and hedge funds.
Matador Resources Company Profile
(
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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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