Matador Resources (NYSE:MTDR) Given New $60.00 Price Target at Citigroup

Matador Resources (NYSE:MTDR) had its price objective reduced by equities research analysts at Citigroup from $68.00 to $60.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the energy company’s stock. Citigroup’s price objective indicates a potential upside of 14.18% from the stock’s current price.

MTDR has been the subject of a number of other reports. Weiss Ratings restated a “hold (c)” rating on shares of Matador Resources in a research report on Friday. Roth Capital raised Matador Resources from a “neutral” rating to a “buy” rating and set a $65.00 target price on the stock in a report on Monday, June 22nd. Stephens boosted their price target on Matador Resources from $92.00 to $93.00 and gave the company an “overweight” rating in a report on Tuesday, July 28th. Truist Financial cut their target price on shares of Matador Resources from $63.00 to $59.00 and set a “buy” rating for the company in a report on Monday. Finally, Mizuho raised shares of Matador Resources to a “strong-buy” rating in a report on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $65.29.

Matador Resources Stock Up 0.6%

Shares of MTDR stock traded up $0.32 during mid-day trading on Tuesday, hitting $52.55. 1,087,150 shares of the stock traded hands, compared to its average volume of 1,891,553. Matador Resources has a 52-week low of $37.14 and a 52-week high of $66.84. The stock has a market cap of $6.53 billion, a P/E ratio of 9.02 and a beta of 0.76. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.65 and a quick ratio of 0.62. The stock’s fifty day moving average is $51.36 and its two-hundred day moving average is $53.77.

Matador Resources (NYSE:MTDR) last issued its earnings results on Wednesday, August 5th. The energy company reported $2.61 EPS for the quarter, beating analysts’ consensus estimates of $2.08 by $0.53. Matador Resources had a return on equity of 13.18% and a net margin of 19.85%.The firm had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.06 billion. During the same quarter in the prior year, the firm earned $1.53 earnings per share. Matador Resources’s revenue for the quarter was up 32.5% on a year-over-year basis. Equities analysts predict that Matador Resources will post 6.98 EPS for the current year.

Insider Buying and Selling at Matador Resources

In related news, COO Glenn W. Stetson purchased 500 shares of the company’s stock in a transaction on Tuesday, June 9th. The stock was bought at an average price of $53.41 per share, with a total value of $26,705.00. Following the completion of the transaction, the chief operating officer owned 95,470 shares of the company’s stock, valued at approximately $5,099,052.70. This represents a 0.53% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Joseph Wm Foran acquired 2,000 shares of Matador Resources stock in a transaction dated Tuesday, June 9th. The stock was bought at an average price of $53.07 per share, for a total transaction of $106,140.00. Following the completion of the transaction, the chief executive officer directly owned 11,479 shares of the company’s stock, valued at approximately $609,190.53. This represents a 21.10% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have acquired 11,907 shares of company stock valued at $635,712 over the last quarter. Corporate insiders own 5.90% of the company’s stock.

Hedge Funds Weigh In On Matador Resources

Institutional investors and hedge funds have recently modified their holdings of the company. Altshuler Shaham Ltd grew its stake in Matador Resources by 36.7% in the 1st quarter. Altshuler Shaham Ltd now owns 748 shares of the energy company’s stock worth $47,000 after acquiring an additional 201 shares during the period. Burford Brothers Inc. increased its stake in Matador Resources by 0.8% in the first quarter. Burford Brothers Inc. now owns 26,798 shares of the energy company’s stock valued at $1,693,000 after purchasing an additional 225 shares during the last quarter. Fiduciary Trust Co lifted its position in Matador Resources by 2.2% during the third quarter. Fiduciary Trust Co now owns 11,821 shares of the energy company’s stock worth $531,000 after buying an additional 253 shares during the period. O Shaughnessy Asset Management LLC boosted its stake in Matador Resources by 2.9% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 9,138 shares of the energy company’s stock worth $388,000 after buying an additional 254 shares during the last quarter. Finally, Verdence Capital Advisors LLC grew its holdings in Matador Resources by 3.5% in the 4th quarter. Verdence Capital Advisors LLC now owns 8,233 shares of the energy company’s stock valued at $349,000 after buying an additional 278 shares during the period. Hedge funds and other institutional investors own 91.98% of the company’s stock.

About Matador Resources

Matador Resources Company is an independent energy firm primarily engaged in the exploration, development and production of oil, natural gas liquids (NGLs) and natural gas. The company focuses on upstream operations, utilizing horizontal drilling and hydraulic fracturing techniques to unlock hydrocarbons from key reservoirs. Its asset base includes both operated and non‐operated positions, with a particular emphasis on the Permian Basin, one of the most prolific oil-producing regions in North America.

Matador’s core operations are concentrated in the Delaware Basin segment of the Permian Basin, where it holds substantial acreage in both Reeves and Culberson counties in West Texas and Eddy and Lea counties in New Mexico.