Matador Resources (NYSE:MTDR) Price Target Lowered to $54.00 at UBS Group

Key Points

• UBS lowered Matador Resources’ price target to $54 from $56 while maintaining a “neutral” rating, implying approximately 12.3% upside from the stock’s current price.
• Shares fell 5.4% to $48.08, while the broader analyst view remains positive: 11 analysts rate the stock a Buy and five rate it a Hold, producing a “Moderate Buy” consensus and an average target of $63.92.
• Matador exceeded quarterly earnings and revenue expectations, reporting $1.53 in EPS versus a $1.24 estimate and $941.6 million in revenue, though revenue declined 33.8% year over year. Company insiders purchased shares recently, and institutional investors own 91.98% of the stock.

Matador Resources (NYSE:MTDR - Get Free Report) had its price target cut by equities research analysts at UBS Group from $56.00 to $54.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has a "neutral" rating on the energy company's stock. UBS Group's price target suggests a potential upside of 12.32% from the stock's current price.

Other equities analysts have also recently issued reports about the company. Weiss Ratings cut Matador Resources from a "hold (c+)" rating to a "hold (c)" rating in a research note on Tuesday, May 12th. KeyCorp raised their target price on Matador Resources from $61.00 to $73.00 and gave the company an "overweight" rating in a research note on Thursday, April 2nd. Truist Financial reduced their price target on shares of Matador Resources from $67.00 to $63.00 and set a "buy" rating for the company in a report on Thursday, July 16th. Zacks Research cut shares of Matador Resources from a "strong-buy" rating to a "hold" rating in a report on Monday, May 25th. Finally, Citigroup decreased their target price on shares of Matador Resources from $72.00 to $68.00 and set a "buy" rating for the company in a research report on Monday, July 20th. Eleven research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, Matador Resources has a consensus rating of "Moderate Buy" and an average price target of $63.92.

Matador Resources Stock Down 5.4%

MTDR traded down $2.73 on Monday, reaching $48.08. The company's stock had a trading volume of 1,070,320 shares, compared to its average volume of 1,835,065. Matador Resources has a 1 year low of $37.14 and a 1 year high of $66.84. The business's 50 day moving average is $53.10 and its 200 day moving average is $53.28. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.73 and a quick ratio of 0.70. The stock has a market cap of $5.97 billion, a price-to-earnings ratio of 12.40 and a beta of 0.74.

Matador Resources (NYSE:MTDR - Get Free Report) last released its earnings results on Wednesday, May 6th. The energy company reported $1.53 EPS for the quarter, beating the consensus estimate of $1.24 by $0.29. The company had revenue of $941.60 million during the quarter, compared to analysts' expectations of $871.57 million. Matador Resources had a return on equity of 11.20% and a net margin of 14.41%.The business's revenue was down 33.8% on a year-over-year basis. During the same period in the prior year, the business posted $1.99 EPS. As a group, research analysts forecast that Matador Resources will post 6.83 EPS for the current fiscal year.

Insider Activity 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 Tuesday, June 9th. The shares were bought at an average price of $53.07 per share, for a total transaction of $106,140.00. Following the purchase, the chief executive officer directly owned 11,479 shares in the company, valued at $609,190.53. This trade represents a 21.10% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Glenn W. Stetson purchased 500 shares of the firm's stock in a transaction on Tuesday, June 9th. The shares were purchased at an average price of $53.41 per share, with a total value of $26,705.00. Following the completion of the acquisition, the chief operating officer directly owned 95,470 shares of the company's stock, valued at approximately $5,099,052.70. This trade represents a 0.53% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last 90 days, insiders bought 11,907 shares of company stock worth $635,712. 5.90% of the stock is owned by corporate insiders.

Institutional Trading of Matador Resources

Several institutional investors have recently bought and sold shares of MTDR. Wellington Management Group LLP boosted its holdings in Matador Resources by 65.0% in the fourth quarter. Wellington Management Group LLP now owns 3,406,182 shares of the energy company's stock valued at $144,558,000 after acquiring an additional 1,342,145 shares during the last quarter. Encompass Capital Advisors LLC bought a new stake in Matador Resources during the 4th quarter worth about $53,249,000. First Trust Advisors LP lifted its position in Matador Resources by 103.3% during the 1st quarter. First Trust Advisors LP now owns 1,595,415 shares of the energy company's stock valued at $100,798,000 after purchasing an additional 810,808 shares during the period. Balyasny Asset Management L.P. boosted its stake in shares of Matador Resources by 2,495.0% in the 4th quarter. Balyasny Asset Management L.P. now owns 552,856 shares of the energy company's stock valued at $23,463,000 after purchasing an additional 531,551 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership bought a new position in shares of Matador Resources in the 1st quarter valued at about $30,904,000. Institutional investors and hedge funds own 91.98% of the company's stock.

About Matador Resources

Matador Resources Company is an independent energy firm primarily engaged in the exploration, development and production of oil, natural gas liquids (NGLs) and natural gas. The company focuses on upstream operations, utilizing horizontal drilling and hydraulic fracturing techniques to unlock hydrocarbons from key reservoirs. Its asset base includes both operated and non‐operated positions, with a particular emphasis on the Permian Basin, one of the most prolific oil-producing regions in North America.

Matador's core operations are concentrated in the Delaware Basin segment of the Permian Basin, where it holds substantial acreage in both Reeves and Culberson counties in West Texas and Eddy and Lea counties in New Mexico.

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