UBS Group Issues Pessimistic Forecast for Matador Resources (NYSE:MTDR) Stock Price

Matador Resources (NYSE:MTDR) had its target price decreased by research analysts at UBS Group from $48.00 to $46.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the energy company’s stock. UBS Group’s target price indicates a potential upside of 17.13% from the company’s previous close.

MTDR has been the topic of several other reports. Bank of America decreased their target price on shares of Matador Resources from $56.00 to $55.00 and set a “buy” rating on the stock in a report on Thursday, October 16th. Royal Bank Of Canada raised their target price on shares of Matador Resources from $60.00 to $62.00 and gave the company an “outperform” rating in a report on Wednesday, October 8th. Weiss Ratings reissued a “hold (c-)” rating on shares of Matador Resources in a report on Tuesday, October 14th. KeyCorp decreased their target price on shares of Matador Resources from $62.00 to $61.00 and set an “overweight” rating on the stock in a report on Wednesday, September 3rd. Finally, TD Cowen raised shares of Matador Resources to a “strong-buy” rating in a report on Monday, July 7th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $63.93.

Matador Resources Price Performance

Shares of Matador Resources stock opened at $39.27 on Thursday. Matador Resources has a twelve month low of $35.19 and a twelve month high of $64.04. The company has a quick ratio of 0.81, a current ratio of 0.73 and a debt-to-equity ratio of 0.55. The company has a 50-day simple moving average of $46.21 and a two-hundred day simple moving average of $46.16. The stock has a market capitalization of $4.89 billion, a price-to-earnings ratio of 6.27 and a beta of 1.41.

Matador Resources (NYSE:MTDR) last issued its quarterly earnings data on Tuesday, October 21st. The energy company reported $1.36 earnings per share for the quarter, topping the consensus estimate of $1.22 by $0.14. Matador Resources had a net margin of 20.46% and a return on equity of 14.80%. The business had revenue of $939.02 million during the quarter, compared to analysts’ expectations of $893.22 million. During the same quarter in the previous year, the company earned $1.89 EPS. The business’s revenue was up 4.4% on a year-over-year basis. Analysts forecast that Matador Resources will post 8.53 EPS for the current year.

Insiders Place Their Bets

In other Matador Resources news, CEO Joseph Wm Foran bought 5,000 shares of the firm’s stock in a transaction on Friday, August 1st. The stock was acquired at an average price of $49.17 per share, with a total value of $245,850.00. Following the transaction, the chief executive officer owned 6,606 shares in the company, valued at $324,817.02. This represents a 311.33% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP William Thomas Elsener purchased 600 shares of Matador Resources stock in a transaction dated Thursday, September 11th. The shares were acquired at an average cost of $48.46 per share, with a total value of $29,076.00. Following the transaction, 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. In the last 90 days, insiders acquired 11,380 shares of company stock valued at $549,188. 5.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Mitsubishi UFJ Asset Management Co. Ltd. increased 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 worth $25,000 after purchasing an additional 400 shares during the period. Kestra Investment Management LLC boosted its position in Matador Resources by 225.2% during 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. MCF Advisors LLC acquired a new stake in Matador Resources in the first quarter worth about $26,000. MassMutual Private Wealth & Trust FSB boosted its holdings 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 worth $26,000 after acquiring an additional 267 shares in the last quarter. Finally, Allworth Financial LP boosted its holdings in Matador Resources by 182.0% in the second quarter. Allworth Financial LP now owns 564 shares of the energy company’s stock worth $27,000 after acquiring an additional 364 shares in the last quarter. 91.98% of the stock is currently owned by institutional investors.

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.