Matador Resources (NYSE:MTDR) Given New $72.00 Price Target at Citigroup

Matador Resources (NYSE:MTDR) had its price objective dropped by analysts at Citigroup from $77.00 to $72.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the energy company’s stock. Citigroup’s price objective indicates a potential upside of 33.88% from the company’s previous close.

Several other research firms have also commented on MTDR. Mizuho cut their price target on shares of Matador Resources from $76.00 to $74.00 and set an “outperform” rating on the stock in a report on Thursday, May 7th. Roth Mkm restated a “neutral” rating and issued a $65.00 price target (up from $52.00) on shares of Matador Resources in a report on Wednesday, April 8th. UBS Group raised their price target on shares of Matador Resources from $50.00 to $52.00 and gave the company a “neutral” rating in a report on Thursday, March 5th. Weiss Ratings lowered shares of Matador Resources from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, May 12th. Finally, Zacks Research upgraded shares of Matador Resources from a “hold” rating to a “strong-buy” rating in a report on Wednesday, April 8th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, Matador Resources has a consensus rating of “Moderate Buy” and a consensus target price of $64.85.

Matador Resources Trading Down 5.0%

Matador Resources stock traded down $2.86 during trading on Tuesday, reaching $53.78. The company had a trading volume of 1,239,030 shares, compared to its average volume of 1,870,233. Matador Resources has a 12-month low of $37.14 and a 12-month high of $66.84. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.70 and a current ratio of 0.73. The stock’s 50 day moving average price is $59.68 and its two-hundred day moving average price is $50.06. The firm has a market capitalization of $6.68 billion, a price-to-earnings ratio of 13.83 and a beta of 0.81.

Matador Resources (NYSE:MTDR) last issued its quarterly earnings results on Wednesday, May 6th. The energy company reported $1.53 EPS for the quarter, topping the consensus estimate of $1.24 by $0.29. Matador Resources had a net margin of 14.41% and a return on equity of 11.20%. The firm had revenue of $941.60 million during the quarter, compared to analyst estimates of $871.57 million. During the same quarter in the prior year, the business posted $1.99 earnings per share. Matador Resources’s revenue for the quarter was down 33.8% compared to the same quarter last year. As a group, equities analysts expect that Matador Resources will post 7.36 earnings per share for the current fiscal year.

Institutional Trading of Matador Resources

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake in Matador Resources by 0.7% during the third quarter. Vanguard Group Inc. now owns 14,780,888 shares of the energy company’s stock valued at $664,105,000 after purchasing an additional 101,613 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Matador Resources by 4.2% during the first quarter. Dimensional Fund Advisors LP now owns 6,948,104 shares of the energy company’s stock valued at $439,010,000 after purchasing an additional 277,839 shares during the last quarter. State Street Corp increased its stake in Matador Resources by 1.9% during the fourth quarter. State Street Corp now owns 4,617,864 shares of the energy company’s stock valued at $195,982,000 after purchasing an additional 86,344 shares during the last quarter. LSV Asset Management increased its stake in Matador Resources by 8.8% during the fourth quarter. LSV Asset Management now owns 3,842,011 shares of the energy company’s stock valued at $163,055,000 after purchasing an additional 309,708 shares during the last quarter. Finally, Wellington Management Group LLP increased its stake in Matador Resources by 65.0% during the fourth quarter. Wellington Management Group LLP now owns 3,406,182 shares of the energy company’s stock valued at $144,558,000 after purchasing an additional 1,342,145 shares during the last quarter. Institutional investors own 91.98% of the company’s stock.

Matador Resources Company Profile

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.