Matador Resources (NYSE:MTDR) Price Target Cut to $62.00 by Analysts at UBS Group

Matador Resources (NYSE:MTDR) had its target price reduced by investment analysts at UBS Group from $64.00 to $62.00 in a report released on Thursday, Benzinga reports. The firm currently has a “neutral” rating on the energy company’s stock. UBS Group‘s price target points to a potential upside of 17.97% from the stock’s previous close.

MTDR has been the topic of a number of other reports. Seaport Research Partners began coverage on Matador Resources in a report on Thursday, September 3rd. They issued a “neutral” rating on the stock. Stephens increased their price objective on shares of Matador Resources from $92.00 to $93.00 and gave the company an “overweight” rating in a report on Tuesday, July 28th. Mizuho reduced their price objective on shares of Matador Resources from $77.00 to $71.00 and set an “outperform” rating on the stock in a research report on Monday, October 19th. Scotiabank assumed coverage on shares of Matador Resources in a report on Thursday, October 15th. They issued a “sector perform” rating and a $59.00 target price on the stock. Finally, Wall Street Zen raised shares of Matador Resources from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 7th. Eleven investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $68.00.

Matador Resources Price Performance

Shares of Matador Resources stock traded up $0.48 during trading hours on Thursday, hitting $52.56. The company’s stock had a trading volume of 106,450 shares, compared to its average volume of 1,838,786. The company has a market cap of $6.50 billion, a PE ratio of 9.03 and a beta of 0.93. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.53 and a current ratio of 0.55. The business has a 50 day moving average price of $55.78 and a two-hundred day moving average price of $54.62. Matador Resources has a 12-month low of $39.55 and a 12-month high of $66.84.

Matador Resources (NYSE:MTDR) last released its earnings results on Tuesday, November 3rd. The energy company reported $2.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.85 by $0.23. Matador Resources had a return on equity of 14.32% and a net margin of 18.60%. The firm had revenue of $1.39 billion during the quarter, compared to analysts’ expectations of $1.12 billion. During the same quarter last year, the business posted $1.36 earnings per share. The firm’s revenue was up 33.9% on a year-over-year basis. Analysts expect that Matador Resources will post 8.34 earnings per share for the current fiscal year.

Insider Transactions at Matador Resources

In other news, Director Shelley Appel bought 1,075 shares of Matador Resources stock in a transaction dated Monday, November 9th. The shares were purchased at an average cost of $49.96 per share, with a total value of $53,707.00. Following the completion of the acquisition, the director owned 3,950 shares of the company’s stock, valued at $197,342. This trade represents a 37.39% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Glenn Stetson bought 1,000 shares of the firm’s stock in a transaction that occurred on Friday, November 6th. The stock was purchased at an average price of $50.80 per share, for a total transaction of $50,800.00. Following the completion of the transaction, the chief operating officer directly owned 96,769 shares of the company’s stock, valued at $4,915,865.20. This represents a 1.04% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders purchased 14,705 shares of company stock valued at $772,016. 5.90% of the stock is owned by insiders.

Institutional Trading of Matador Resources

A number of large investors have recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in shares of Matador Resources during the 2nd quarter worth approximately $573,936,000. Dimensional Fund Advisors LP boosted its position in shares of Matador Resources by 4.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 6,948,104 shares of the energy company’s stock valued at $439,010,000 after acquiring an additional 277,839 shares during the last quarter. First Trust Advisors LP boosted its position in shares of Matador Resources by 103.3% during the 1st quarter. First Trust Advisors LP now owns 1,595,415 shares of the energy company’s stock valued at $100,798,000 after acquiring an additional 810,808 shares during the last quarter. GW&K Investment Management LLC grew its holdings in shares of Matador Resources by 2.1% in the third quarter. GW&K Investment Management LLC now owns 1,406,098 shares of the energy company’s stock valued at $72,527,000 after purchasing an additional 28,704 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of Matador Resources by 2.3% in the first quarter. Bank of New York Mellon Corp now owns 1,186,046 shares of the energy company’s stock valued at $74,934,000 after purchasing an additional 26,205 shares in the last quarter. Institutional investors own 91.98% of the company’s stock.

Matador Resources Company Profile

Matador Resources Company is an independent energy company engaged in the exploration, development, production and acquisition of oil and natural gas. Its operations are focused primarily on the Delaware Basin in southeastern New Mexico and West Texas. Alongside its exploration and production business, Matador provides midstream services through its subsidiary San Mateo Midstream. These activities include gathering and processing natural gas and handling produced water, supporting the company’s operations and serving other producers in the region.