Morgan Stanley Cuts Matador Resources (NYSE:MTDR) Price Target to $68.00

Matador Resources (NYSE:MTDR) had its price target cut by research analysts at Morgan Stanley from $84.00 to $68.00 in a research note issued on Thursday,Benzinga reports. The firm presently has an “equal weight” rating on the energy company’s stock. Morgan Stanley’s target price would suggest a potential upside of 31.71% from the company’s previous close.

Other analysts have also issued research reports about the company. Royal Bank of Canada restated an “outperform” rating and set a $70.00 price target on shares of Matador Resources in a report on Wednesday, January 15th. Stephens increased their target price on shares of Matador Resources from $78.00 to $80.00 and gave the company an “overweight” rating in a research note on Friday, December 6th. Wells Fargo & Company dropped their price target on shares of Matador Resources from $90.00 to $87.00 and set an “overweight” rating for the company in a research note on Tuesday. Mizuho reduced their price objective on shares of Matador Resources from $74.00 to $73.00 and set an “outperform” rating on the stock in a research report on Monday, December 16th. Finally, Benchmark restated a “buy” rating and set a $62.00 target price on shares of Matador Resources in a research report on Friday, January 17th. One analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Matador Resources has a consensus rating of “Moderate Buy” and an average target price of $73.79.

Matador Resources Price Performance

MTDR traded down $0.61 during trading hours on Thursday, hitting $51.63. The company’s stock had a trading volume of 350,280 shares, compared to its average volume of 1,386,715. Matador Resources has a 12 month low of $43.89 and a 12 month high of $71.08. The company has a current ratio of 0.93, a quick ratio of 0.84 and a debt-to-equity ratio of 0.61. The business’s 50-day moving average price is $54.78 and its 200-day moving average price is $54.86. The stock has a market cap of $6.46 billion, a price-to-earnings ratio of 7.23 and a beta of 3.17.

Matador Resources (NYSE:MTDR) last announced its quarterly earnings results on Tuesday, February 18th. The energy company reported $1.83 EPS for the quarter, missing analysts’ consensus estimates of $1.88 by ($0.05). Matador Resources had a net margin of 25.26% and a return on equity of 18.52%. The business had revenue of $970.37 million during the quarter, compared to the consensus estimate of $967.10 million. Sell-side analysts expect that Matador Resources will post 8.53 earnings per share for the current fiscal year.

Insider Activity at Matador Resources

In other Matador Resources news, CEO Joseph Wm Foran acquired 6,000 shares of the business’s stock in a transaction that occurred on Friday, February 21st. The shares were bought at an average cost of $53.94 per share, with a total value of $323,640.00. Following the completion of the acquisition, the chief executive officer now directly owns 39,379 shares in the company, valued at $2,124,103.26. This represents a 17.98 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Paul W. Harvey bought 600 shares of the stock in a transaction on Friday, February 21st. The shares were bought at an average price of $55.20 per share, with a total value of $33,120.00. Following the acquisition, the director now owns 27,917 shares of the company’s stock, valued at $1,541,018.40. This trade represents a 2.20 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought 21,350 shares of company stock worth $1,100,769 over the last three months. 6.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Matador Resources

Several institutional investors and hedge funds have recently added to or reduced their stakes in MTDR. Altshuler Shaham Ltd bought a new stake in shares of Matador Resources in the 4th quarter valued at about $25,000. TCTC Holdings LLC lifted its position in Matador Resources by 53.8% during the fourth quarter. TCTC Holdings LLC now owns 500 shares of the energy company’s stock valued at $28,000 after acquiring an additional 175 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in Matador Resources by 108.5% in the fourth quarter. EverSource Wealth Advisors LLC now owns 492 shares of the energy company’s stock valued at $28,000 after acquiring an additional 256 shares in the last quarter. MassMutual Private Wealth & Trust FSB boosted its stake in Matador Resources by 68.3% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 510 shares of the energy company’s stock valued at $29,000 after acquiring an additional 207 shares in the last quarter. Finally, SRS Capital Advisors Inc. grew its holdings in Matador Resources by 359.5% in the fourth quarter. SRS Capital Advisors Inc. now owns 579 shares of the energy company’s stock worth $33,000 after purchasing an additional 453 shares during the last quarter. Hedge funds and other institutional investors own 91.98% of the company’s stock.

Matador Resources Company Profile

Matador Resources Company, an independent energy company, engages in the exploration, development, production, and acquisition of oil and natural gas resources in the United States. It operates through two segments, Exploration and Production; and Midstream. The company primarily holds interests in the Wolfcamp and Bone Spring plays in the Delaware Basin in Southeast New Mexico and West Texas.