UBS Group Cuts Matador Resources (NYSE:MTDR) Price Target to $56.00

Matador Resources (NYSE:MTDR) had its price target reduced by equities research analysts at UBS Group from $62.00 to $56.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the energy company’s stock. UBS Group’s price target would indicate a potential upside of 3.81% from the company’s current price.

Several other research firms have also weighed in on MTDR. Roth Capital upgraded shares of Matador Resources from a “neutral” rating to a “buy” rating and set a $65.00 price objective on the stock in a research note on Monday, June 22nd. Wells Fargo & Company lifted their target price on Matador Resources from $54.00 to $63.00 and gave the company an “equal weight” rating in a research note on Thursday, April 16th. Weiss Ratings lowered Matador Resources from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, May 12th. Mizuho increased their price target on Matador Resources from $74.00 to $77.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 27th. Finally, Citigroup reduced their price objective on Matador Resources from $72.00 to $68.00 and set a “buy” rating for the company in a research report on Monday. Eleven investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $64.08.

Matador Resources Stock Performance

MTDR traded up $0.48 during trading hours on Tuesday, hitting $53.95. 477,280 shares of the stock were exchanged, compared to its average volume of 1,826,183. The stock has a market cap of $6.70 billion, a price-to-earnings ratio of 13.87 and a beta of 0.74. The stock has a 50-day simple moving average of $53.51 and a 200-day simple moving average of $52.99. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.73 and a quick ratio of 0.70. Matador Resources has a 12 month low of $37.14 and a 12 month high of $66.84.

Matador Resources (NYSE:MTDR) last released its earnings results on Wednesday, May 6th. The energy company reported $1.53 earnings per share for the quarter, beating 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 previous year, the firm earned $1.99 earnings per share. The firm’s revenue for the quarter was down 33.8% compared to the same quarter last year. Analysts anticipate that Matador Resources will post 6.99 earnings per share for the current year.

Insider Buying and Selling

In other Matador Resources news, CEO Joseph Wm Foran bought 4,675 shares of the stock in a transaction that occurred on Wednesday, May 27th. The shares were purchased at an average cost of $52.36 per share, for a total transaction of $244,783.00. Following the transaction, the chief executive officer directly owned 6,997 shares in the company, valued at $366,362.92. The trade was a 201.34% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Glenn W. Stetson purchased 500 shares of Matador Resources stock in a transaction on Tuesday, June 9th. The shares were acquired at an average price of $53.41 per share, with a total value of $26,705.00. Following the transaction, the chief operating officer directly owned 95,470 shares in the company, valued at $5,099,052.70. This trade represents a 0.53% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders acquired 11,907 shares of company stock valued at $635,712 in the last three months. 5.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Matador Resources

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. V Square Quantitative Management LLC bought a new position in shares of Matador Resources in the first quarter valued at approximately $27,000. Kestra Investment Management LLC lifted its position in Matador Resources by 225.2% in the second quarter. Kestra Investment Management LLC now owns 517 shares of the energy company’s stock worth $25,000 after purchasing an additional 358 shares during the period. Center for Financial Planning Inc. bought a new position in Matador Resources during the 1st quarter valued at $41,000. Altshuler Shaham Ltd increased its position in shares of Matador Resources by 36.7% during the 1st quarter. Altshuler Shaham Ltd now owns 748 shares of the energy company’s stock valued at $47,000 after purchasing an additional 201 shares during the period. Finally, Measured Wealth Private Client Group LLC acquired a new stake in shares of Matador Resources in the third quarter valued at $35,000. 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.