Matador Resources (NYSE:MTDR) Price Target Lowered to $61.00 at KeyCorp

Key Points

• KeyCorp has lowered its price target for Matador Resources (NYSE:MTDR) from $62.00 to $61.00, while maintaining an "overweight" rating, indicating a potential upside from the current stock price.
• The stock has seen varied price targets from different analysts, with UBS Group lowering theirs further to $48.00 and Mizuho adjusting it to $73.00.
• Matador Resources reported $1.53 earnings per share for their last quarter, exceeding analyst expectations and marking an 8.2% year-over-year revenue growth.

Matador Resources (NYSE:MTDR - Get Free Report) had its price objective cut by equities research analysts at KeyCorp from $62.00 to $61.00 in a report issued on Wednesday,Benzinga reports. The firm presently has an "overweight" rating on the energy company's stock. KeyCorp's price objective suggests a potential upside of 19.48% from the company's previous close.

A number of other equities research analysts have also issued reports on MTDR. UBS Group dropped their target price on Matador Resources from $49.00 to $48.00 and set a "neutral" rating on the stock in a research report on Wednesday, August 20th. TD Cowen raised Matador Resources to a "strong-buy" rating in a research report on Monday, July 7th. Mizuho lowered their price target on Matador Resources from $74.00 to $73.00 and set an "outperform" rating on the stock in a research report on Tuesday, May 13th. Bank of America began coverage on Matador Resources in a research report on Monday, May 19th. They set a "buy" rating and a $56.00 price target on the stock. Finally, Wells Fargo & Company lowered their price target on Matador Resources from $80.00 to $74.00 and set an "overweight" rating on the stock in a research report on Monday, June 16th. One 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 data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $67.53.

Matador Resources Trading Down 0.3%

NYSE:MTDR opened at $51.05 on Wednesday. Matador Resources has a fifty-two week low of $35.19 and a fifty-two week high of $64.04. 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 capitalization of $6.36 billion, a PE ratio of 7.44 and a beta of 1.49. The business's 50-day simple moving average is $49.35 and its 200-day simple moving average is $47.26.

Matador Resources (NYSE:MTDR - Get Free Report) last released its quarterly earnings data on Tuesday, July 22nd. The energy company reported $1.53 earnings per share 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 business had revenue of $895.31 million for the quarter, compared to analysts' expectations of $892.86 million. During the same quarter in the previous year, the business posted $2.05 EPS. Matador Resources's revenue for the quarter was up 8.2% on a year-over-year basis. Sell-side analysts expect that Matador Resources will post 8.53 earnings per share for the current fiscal year.

Insider Activity at Matador Resources

In other Matador Resources news, CEO Joseph Wm Foran purchased 5,000 shares of the stock in a transaction dated Friday, August 1st. The stock was bought at an average price of $49.17 per share, with a total value of $245,850.00. Following the acquisition, the chief executive officer owned 6,606 shares of the company's stock, valued at approximately $324,817.02. This represents a 311.33% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 5.80% of the company's stock.

Hedge Funds Weigh In On Matador Resources

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

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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