Raymond James Lowers Matador Resources (NYSE:MTDR) Price Target to $67.00

Matador Resources (NYSE:MTDR - Get Free Report) had its target price dropped by investment analysts at Raymond James from $77.00 to $67.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has an "outperform" rating on the energy company's stock. Raymond James' price objective suggests a potential upside of 42.39% from the company's previous close.

A number of other research analysts have also weighed in on the stock. Royal Bank of Canada reissued an "outperform" rating and set a $70.00 target price on shares of Matador Resources in a research report on Wednesday, January 15th. Stephens increased their price target on shares of Matador Resources from $78.00 to $80.00 and gave the stock an "overweight" rating in a research report on Friday, December 6th. Mizuho dropped their price target on shares of Matador Resources from $74.00 to $73.00 and set an "outperform" rating for the company in a research report on Monday, December 16th. Benchmark reissued a "buy" rating and issued a $62.00 price target on shares of Matador Resources in a research report on Friday, January 17th. Finally, Truist Financial upped their price objective on shares of Matador Resources from $75.00 to $80.00 and gave the stock a "buy" rating in a research note on Monday, January 13th. One analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, Matador Resources currently has an average rating of "Moderate Buy" and an average price target of $74.60.

Remove Ads

Matador Resources Stock Down 2.5 %

Shares of Matador Resources stock traded down $1.23 on Monday, hitting $47.05. 1,423,709 shares of the company traded hands, compared to its average volume of 1,330,787. The company has a 50-day moving average price of $56.66 and a 200 day moving average price of $55.15. 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 12-month low of $43.89 and a 12-month high of $71.08. The company has a market cap of $5.89 billion, a PE ratio of 6.61 and a beta of 3.17.

Matador Resources (NYSE:MTDR - Get Free Report) last issued its quarterly earnings data on Tuesday, February 18th. The energy company reported $1.83 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.88 by ($0.05). The business had revenue of $970.37 million during the quarter, compared to the consensus estimate of $967.10 million. Matador Resources had a return on equity of 18.52% and a net margin of 25.26%. Sell-side analysts predict that Matador Resources will post 8.53 earnings per share for the current year.

Insiders Place Their Bets

In other news, CAO Robert T. Macalik bought 1,200 shares of the business's stock in a transaction on Wednesday, March 5th. The shares were bought at an average cost of $47.98 per share, for a total transaction of $57,576.00. Following the completion of the acquisition, the chief accounting officer now owns 31,000 shares in the company, valued at approximately $1,487,380. This trade represents a 4.03 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Joseph Wm Foran bought 6,000 shares of the business's stock in a transaction on Friday, February 21st. The stock was purchased at an average price of $53.94 per share, for a total transaction of $323,640.00. Following the completion of the acquisition, the chief executive officer now owns 39,379 shares of the company's stock, valued at approximately $2,124,103.26. This trade represents a 17.98 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 21,830 shares of company stock worth $1,132,652. Company insiders own 6.10% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Matador Resources during the 4th quarter worth about $7,529,000. American Trust boosted its holdings in shares of Matador Resources by 11.5% during the 4th quarter. American Trust now owns 6,280 shares of the energy company's stock worth $353,000 after buying an additional 650 shares during the period. GF Fund Management CO. LTD. bought a new stake in shares of Matador Resources during the 4th quarter worth about $1,988,000. Neo Ivy Capital Management bought a new stake in shares of Matador Resources during the 4th quarter worth about $3,705,000. Finally, GTS Securities LLC boosted its holdings in shares of Matador Resources by 157.7% during the 4th quarter. GTS Securities LLC now owns 20,184 shares of the energy company's stock worth $1,136,000 after buying an additional 12,353 shares during the period. 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.