Mizuho Cuts Matador Resources (NYSE:MTDR) Price Target to $73.00

Matador Resources (NYSE:MTDR - Get Free Report) had its price target lowered by stock analysts at Mizuho from $74.00 to $73.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has an "outperform" rating on the energy company's stock. Mizuho's price objective indicates a potential upside of 59.84% from the stock's previous close.

A number of other equities research analysts also recently commented on the stock. Wells Fargo & Company lowered their price target on shares of Matador Resources from $86.00 to $80.00 and set an "overweight" rating for the company in a report on Monday, April 28th. UBS Group started coverage on shares of Matador Resources in a research note on Tuesday, April 22nd. They issued a "neutral" rating and a $47.00 target price for the company. Raymond James cut their price target on Matador Resources from $77.00 to $67.00 and set an "outperform" rating for the company in a report on Monday, March 10th. Morgan Stanley decreased their price objective on Matador Resources from $84.00 to $68.00 and set an "equal weight" rating on the stock in a report on Thursday, March 27th. Finally, Stephens dropped their target price on Matador Resources from $90.00 to $86.00 and set an "overweight" rating for the company in a research note on Tuesday, April 15th. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $70.33.

Matador Resources Price Performance

Shares of MTDR traded up $0.98 during mid-day trading on Tuesday, reaching $45.67. 246,852 shares of the company's stock were exchanged, compared to its average volume of 1,613,114. The company has a quick ratio of 0.84, a current ratio of 0.93 and a debt-to-equity ratio of 0.61. Matador Resources has a 52-week low of $35.19 and a 52-week high of $66.89. The company has a market cap of $5.72 billion, a price-to-earnings ratio of 6.40 and a beta of 1.47. The company has a 50-day simple moving average of $44.26 and a two-hundred day simple moving average of $52.54.

Matador Resources (NYSE:MTDR - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The energy company reported $1.99 earnings per share for the quarter, topping analysts' consensus estimates of $1.74 by $0.25. The company had revenue of $1.01 billion during the quarter, compared to analysts' expectations of $980.87 million. Matador Resources had a return on equity of 18.52% and a net margin of 25.26%. The business's revenue for the quarter was up 28.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.71 earnings per share. On average, sell-side analysts predict that Matador Resources will post 8.53 EPS for the current fiscal year.

Matador Resources declared that its board has approved a share repurchase program on Wednesday, April 23rd that permits the company to buyback $400.00 million in outstanding shares. This buyback authorization permits the energy company to repurchase up to 7.8% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's management believes its stock is undervalued.

Insider Activity

In other Matador Resources news, Director Paul W. Harvey purchased 600 shares of the business's stock in a transaction that occurred on Friday, February 21st. The shares were acquired at an average price of $55.20 per share, for a total transaction of $33,120.00. Following the completion of the purchase, the director now owns 27,917 shares in the company, valued at $1,541,018.40. The trade was a 2.20% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Joseph Wm Foran purchased 2,500 shares of Matador Resources stock in a transaction that occurred on Wednesday, May 7th. The stock was acquired at an average cost of $39.63 per share, with a total value of $99,075.00. Following the acquisition, the chief executive officer now directly owns 60,756 shares of the company's stock, valued at $2,407,760.28. The trade was a 4.29% increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders bought 36,200 shares of company stock worth $1,701,872. 6.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Matador Resources

Hedge funds and other institutional investors have recently bought and sold shares of the business. Altshuler Shaham Ltd acquired a new stake in shares of Matador Resources during the fourth quarter worth approximately $25,000. MCF Advisors LLC acquired a new stake in Matador Resources in the first quarter valued at $26,000. TCTC Holdings LLC boosted its stake in Matador Resources by 53.8% during the 4th quarter. TCTC Holdings LLC now owns 500 shares of the energy company's stock valued at $28,000 after acquiring an additional 175 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in Matador Resources by 108.5% during the 4th quarter. EverSource Wealth Advisors LLC now owns 492 shares of the energy company's stock worth $28,000 after acquiring an additional 256 shares in the last quarter. Finally, Opal Wealth Advisors LLC bought a new stake in shares of Matador Resources in the 1st quarter worth about $28,000. 91.98% of the stock is currently owned by hedge funds and other 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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