Mizuho Cuts Matador Resources (NYSE:MTDR) Price Target to $67.00

Key Points

• Mizuho has reduced its price target for Matador Resources from $69.00 to $67.00, maintaining an "outperform" rating, which suggests a potential upside of 50.06% from the previous close.
• Other analysts have also adjusted their targets, with UBS lowering theirs to $48.00 and Wells Fargo to $74.00, while Royal Bank of Canada has increased its target to $62.00.
• Matador Resources reported $1.53 EPS for the last quarter, exceeding expectations, and anticipates posting 8.53 EPS for the current fiscal year.

Matador Resources (NYSE:MTDR - Get Free Report) had its price target decreased by equities researchers at Mizuho from $69.00 to $67.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has an "outperform" rating on the energy company's stock. Mizuho's price objective points to a potential upside of 50.06% from the company's previous close.

Several other equities analysts have also recently issued reports on MTDR. UBS Group lowered their price objective 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. 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 report on Monday, June 16th. Royal Bank Of Canada boosted their price target on Matador Resources from $60.00 to $62.00 and gave the company an "outperform" rating in a research note on Wednesday. KeyCorp decreased their target price on Matador Resources from $62.00 to $61.00 and set an "overweight" rating on the stock in a report on Wednesday, September 3rd. Finally, William Blair assumed coverage on Matador Resources in a report on Monday, August 25th. They issued an "outperform" rating on the stock. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $66.36.

Matador Resources Stock Performance

Shares of MTDR opened at $44.65 on Friday. 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 business's 50 day moving average price is $47.30 and its 200-day moving average price is $46.54. Matador Resources has a 52 week low of $35.19 and a 52 week high of $64.04. The stock has a market cap of $5.56 billion, a P/E ratio of 6.54 and a beta of 1.41.

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 (EPS) for the quarter, beating the consensus estimate of $1.29 by $0.24. The business had revenue of $895.31 million for 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 firm's quarterly revenue was up 8.2% on a year-over-year basis. During the same period in the prior year, the firm posted $2.05 EPS. Equities research analysts anticipate that Matador Resources will post 8.53 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Joseph Wm Foran purchased 5,000 shares of the company's stock in a transaction that occurred on Friday, August 1st. The stock was bought 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 owned 6,606 shares in the company, valued at approximately $324,817.02. The trade was a 311.33% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Christopher P. Calvert purchased 1,000 shares of the company's stock in a transaction that occurred on Friday, September 12th. The stock was bought at an average price of $47.77 per share, with a total value of $47,770.00. Following the transaction, the chief operating officer owned 37,500 shares of the company's stock, valued at $1,791,375. This represents a 2.74% increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 11,380 shares of company stock worth $549,188. Corporate insiders own 5.80% of the company's stock.

Institutional Trading of Matador Resources

Several institutional investors have recently added to or reduced their stakes in MTDR. Adage Capital Partners GP L.L.C. lifted its stake in Matador Resources by 143.1% in the second quarter. Adage Capital Partners GP L.L.C. now owns 2,556,472 shares of the energy company's stock worth $121,995,000 after purchasing an additional 1,505,000 shares during the last quarter. LSV Asset Management increased its holdings in Matador Resources by 45.7% during the second quarter. LSV Asset Management now owns 3,334,775 shares of the energy company's stock valued at $159,135,000 after buying an additional 1,045,396 shares during the period. Vanguard Group Inc. grew its holdings in Matador Resources by 7.6% in the first quarter. Vanguard Group Inc. now owns 13,511,643 shares of the energy company's stock worth $690,310,000 after purchasing an additional 956,090 shares during the last quarter. Encompass Capital Advisors LLC purchased a new stake in shares of Matador Resources during the second quarter valued at $37,194,000. Finally, Nuveen LLC purchased a new stake in shares of Matador Resources during the first quarter valued at $35,715,000. Institutional investors own 91.98% of the company's stock.

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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