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

Matador Resources (NYSE:MTDR - Get Free Report) had its price objective lowered by analysts at Mizuho from $74.00 to $73.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has an "outperform" rating on the energy company's stock. Mizuho's target price would indicate a potential upside of 29.96% from the company's current price.

A number of other equities research analysts also recently issued reports on the stock. Wells Fargo & Company reduced their price objective on shares of Matador Resources from $89.00 to $87.00 and set an "overweight" rating for the company in a research report on Tuesday, October 1st. Royal Bank of Canada reaffirmed an "outperform" rating and set a $70.00 price target on shares of Matador Resources in a research report on Friday, December 6th. Truist Financial cut their price objective on Matador Resources from $86.00 to $75.00 and set a "buy" rating on the stock in a research report on Monday, September 30th. Stephens lifted their target price on Matador Resources from $78.00 to $80.00 and gave the stock an "overweight" rating in a research note on Friday, December 6th. Finally, Benchmark restated a "buy" rating and set a $62.00 price target on shares of Matador Resources in a research report on Wednesday, October 23rd. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $75.00.

Matador Resources Stock Down 0.9 %

NYSE MTDR traded down $0.52 on Monday, hitting $56.17. 999,649 shares of the company were exchanged, compared to its average volume of 1,497,581. The company has a current ratio of 0.88, a quick ratio of 0.84 and a debt-to-equity ratio of 0.71. The company has a market cap of $7.01 billion, a PE ratio of 7.36 and a beta of 3.26. The stock has a fifty day moving average of $55.51 and a 200-day moving average of $56.31. Matador Resources has a 12 month low of $47.15 and a 12 month high of $71.08.

Matador Resources (NYSE:MTDR - Get Free Report) last issued its earnings results on Tuesday, October 22nd. The energy company reported $1.89 earnings per share for the quarter, topping analysts' consensus estimates of $1.78 by $0.11. The company had revenue of $770.20 million for the quarter, compared to analyst estimates of $836.69 million. Matador Resources had a return on equity of 20.01% and a net margin of 27.45%. Matador Resources's revenue for the quarter was up 9.8% on a year-over-year basis. During the same period in the prior year, the firm earned $1.86 earnings per share. As a group, analysts forecast that Matador Resources will post 7.49 earnings per share for the current year.

Insider Activity

In other Matador Resources news, EVP William Thomas Elsener purchased 800 shares of Matador Resources stock in a transaction on Friday, December 13th. The shares were bought at an average price of $56.60 per share, with a total value of $45,280.00. Following the purchase, the executive vice president now directly owns 102,964 shares in the company, valued at $5,827,762.40. This trade represents a 0.78 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Glenn W. Stetson acquired 1,000 shares of the stock in a transaction dated Wednesday, October 30th. The shares were bought at an average cost of $51.33 per share, with a total value of $51,330.00. Following the completion of the purchase, the executive vice president now directly owns 85,935 shares in the company, valued at approximately $4,411,043.55. This trade represents a 1.18 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 4,105 shares of company stock valued at $222,501. 6.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Matador Resources

Hedge funds and other institutional investors have recently made changes to their positions in the business. Denver PWM LLC acquired a new position in Matador Resources in the 2nd quarter valued at approximately $27,000. True Wealth Design LLC acquired a new position in Matador Resources during the third quarter worth $37,000. Quarry LP boosted its holdings in shares of Matador Resources by 47.5% in the 2nd quarter. Quarry LP now owns 779 shares of the energy company's stock valued at $46,000 after buying an additional 251 shares during the last quarter. Avior Wealth Management LLC grew its position in shares of Matador Resources by 329.0% in the 3rd quarter. Avior Wealth Management LLC now owns 828 shares of the energy company's stock valued at $41,000 after acquiring an additional 635 shares during the period. Finally, Covestor Ltd lifted its position in shares of Matador Resources by 154.8% in the third quarter. Covestor Ltd now owns 1,060 shares of the energy company's stock valued at $52,000 after buying an additional 644 shares during the last quarter. 91.98% of the stock is currently owned by institutional investors and hedge funds.

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.