UBS Group Cuts Matador Resources (NYSE:MTDR) Price Target to $54.00

Matador Resources (NYSE:MTDR) had its target price cut by UBS Group from $56.00 to $54.00 in a report released on Monday morning,Benzinga reports. They currently have a neutral rating on the energy company’s stock.

Several other research analysts also recently commented on MTDR. Mizuho lifted their price objective on Matador Resources from $74.00 to $77.00 and gave the stock an “outperform” rating in a report on Wednesday, May 27th. Wells Fargo & Company increased their target price on Matador Resources from $54.00 to $63.00 and gave the company an “equal weight” rating in a report on Thursday, April 16th. Morgan Stanley reduced their price target on Matador Resources from $75.00 to $66.00 and set an “equal weight” rating on the stock in a research report on Monday, June 29th. Truist Financial decreased their price target on Matador Resources from $67.00 to $63.00 and set a “buy” rating on the stock in a research note on Thursday, July 16th. Finally, Weiss Ratings downgraded Matador Resources from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, May 12th. Twelve analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, Matador Resources currently has a consensus rating of “Moderate Buy” and a consensus target price of $66.00.

Matador Resources Price Performance

MTDR stock opened at $48.87 on Monday. The firm has a market cap of $6.07 billion, a P/E ratio of 12.56 and a beta of 0.74. The firm’s fifty day moving average is $52.30 and its 200 day moving average is $53.41. Matador Resources has a 52 week low of $37.14 and a 52 week 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.

Matador Resources (NYSE:MTDR) last posted its quarterly earnings results on Wednesday, May 6th. The energy company reported $1.53 earnings per share 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 business had revenue of $941.60 million during the quarter, compared to the consensus estimate of $871.57 million. During the same period in the previous year, the firm posted $1.99 earnings per share. The firm’s revenue for the quarter was down 33.8% on a year-over-year basis. Research analysts predict that Matador Resources will post 6.86 earnings per share for the current year.

Matador Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 8th. Shareholders of record on Monday, August 10th will be given a $0.375 dividend. The ex-dividend date is Monday, August 10th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 3.1%. Matador Resources’s payout ratio is presently 38.56%.

Insider Activity

In other Matador Resources news, CFO Christopher P. Calvert purchased 1,500 shares of Matador Resources stock in a transaction that occurred on Friday, May 29th. The shares were bought at an average price of $53.24 per share, for a total transaction of $79,860.00. Following the acquisition, the chief financial officer directly owned 41,500 shares in the company, valued at approximately $2,209,460. This trade represents a 3.75% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Glenn W. Stetson purchased 500 shares of the stock in a transaction on Tuesday, June 9th. The shares were acquired at an average cost 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. The trade was a 0.53% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders bought 11,907 shares of company stock valued at $635,712. Insiders own 5.90% of the company’s stock.

Hedge Funds Weigh In On Matador Resources

Several hedge funds have recently made changes to their positions in the business. Harbor Capital Advisors Inc. boosted its position in Matador Resources by 184.9% during the 4th quarter. Harbor Capital Advisors Inc. now owns 30,836 shares of the energy company’s stock valued at $1,309,000 after acquiring an additional 20,011 shares in the last quarter. Wedge Capital Management L L P NC raised its position in shares of Matador Resources by 25.5% in the 4th quarter. Wedge Capital Management L L P NC now owns 78,035 shares of the energy company’s stock worth $3,312,000 after acquiring an additional 15,859 shares in the last quarter. Peterson Wealth Services raised its position in shares of Matador Resources by 333.7% in the 4th quarter. Peterson Wealth Services now owns 51,356 shares of the energy company’s stock worth $2,180,000 after acquiring an additional 39,516 shares in the last quarter. Thrivent Financial for Lutherans raised its position in shares of Matador Resources by 2.1% in the 4th quarter. Thrivent Financial for Lutherans now owns 1,054,232 shares of the energy company’s stock worth $44,742,000 after acquiring an additional 21,630 shares in the last quarter. Finally, Morningstar Investment Management LLC purchased a new position in shares of Matador Resources in the 1st quarter valued at approximately $2,630,000. 91.98% of the stock is owned by hedge funds and other institutional investors.

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.