Morgan Stanley Has Lowered Expectations for Matador Resources (NYSE:MTDR) Stock Price

Key Points

• Morgan Stanley has lowered the price target for Matador Resources' stock from $62.00 to $61.00, while maintaining an "equal weight" rating, suggesting a potential upside of 39.56% from the previous close.
• Other research firms have also adjusted their price targets for MTDR, with Mizuho reducing theirs from $69.00 to $67.00 and UBS lowering theirs from $49.00 to $48.00.
• Matador Resources recently reported an EPS of $1.53 for the last quarter, surpassing estimates and reflecting an 8.2% year-over-year revenue growth with total revenue reaching approximately $895.31 million.

Matador Resources (NYSE:MTDR - Get Free Report) had its price target lowered by Morgan Stanley from $62.00 to $61.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has an "equal weight" rating on the energy company's stock. Morgan Stanley's price target indicates a potential upside of 39.56% from the stock's previous close.

A number of other research firms have also commented on MTDR. Mizuho reduced their price objective on shares of Matador Resources from $69.00 to $67.00 and set an "outperform" rating on the stock in a research note on Friday. UBS Group reduced their price objective on shares of Matador Resources from $49.00 to $48.00 and set a "neutral" rating on the stock in a research note on Wednesday, August 20th. William Blair began coverage on shares of Matador Resources in a research report on Monday, August 25th. They set an "outperform" rating on the stock. Wells Fargo & Company dropped their target price on shares of Matador Resources from $77.00 to $76.00 and set an "overweight" rating on the stock in a research report on Monday. Finally, Weiss Ratings reiterated a "hold (c-)" rating on shares of Matador Resources in a research report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $66.43.

Matador Resources Trading Up 0.5%

Shares of NYSE:MTDR traded up $0.22 during trading on Tuesday, reaching $43.71. The stock had a trading volume of 596,183 shares, compared to its average volume of 1,685,759. The firm's fifty day moving average is $47.10 and its 200 day moving average is $46.34. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.81 and a current ratio of 0.85. 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 $5.44 billion, a price-to-earnings ratio of 6.40 and a beta of 1.41.

Matador Resources (NYSE:MTDR - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The energy company reported $1.53 EPS for the quarter, beating analysts' consensus estimates of $1.29 by $0.24. Matador Resources had a net margin of 22.57% and a return on equity of 16.53%. The company had revenue of $895.31 million for the quarter, compared to analyst estimates of $892.86 million. During the same period in the prior year, the firm posted $2.05 EPS. The company's quarterly revenue was up 8.2% on a year-over-year basis. As a group, equities analysts forecast that Matador Resources will post 8.53 EPS for the current fiscal year.

Insider Buying and Selling at Matador Resources

In other news, COO Christopher P. Calvert purchased 1,000 shares of Matador Resources stock in a transaction dated Friday, September 12th. The stock was purchased at an average cost of $47.77 per share, for a total transaction of $47,770.00. Following the transaction, the chief operating officer directly owned 37,500 shares of the company's stock, valued at approximately $1,791,375. This trade represents a 2.74% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP William Thomas Elsener bought 600 shares of the firm's stock in a transaction on Thursday, September 11th. The stock was acquired at an average price of $48.46 per share, for a total transaction of $29,076.00. Following the completion of the purchase, the executive vice president directly owned 112,069 shares in the company, valued at approximately $5,430,863.74. The trade was a 0.54% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought a total of 11,380 shares of company stock valued at $549,188 in the last three months. Company insiders own 5.80% of the company's stock.

Institutional Trading of Matador Resources

Several institutional investors and hedge funds have recently modified their holdings of MTDR. MCF Advisors LLC purchased a new stake in Matador Resources in the first quarter valued at approximately $26,000. Kestra Investment Management LLC raised its stake in Matador Resources by 225.2% in the second quarter. Kestra Investment Management LLC now owns 517 shares of the energy company's stock valued at $25,000 after purchasing an additional 358 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in Matador Resources by 298.5% in the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 534 shares of the energy company's stock valued at $25,000 after purchasing an additional 400 shares in the last quarter. Opal Wealth Advisors LLC purchased a new stake in Matador Resources in the first quarter valued at approximately $28,000. Finally, MassMutual Private Wealth & Trust FSB raised its stake in 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. Hedge funds and other institutional investors 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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