JPMorgan Chase & Co. Has Lowered Expectations for Matador Resources (NYSE:MTDR) Stock Price

Matador Resources (NYSE:MTDR) had its price objective reduced by JPMorgan Chase & Co. from $65.00 to $61.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the energy company’s stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 54.80% from the company’s previous close.

A number of other equities analysts have also recently weighed in on MTDR. Truist Financial upped their price target on Matador Resources from $75.00 to $80.00 and gave the stock a “buy” rating in a report on Monday, January 13th. TD Cowen upped their target price on shares of Matador Resources from $74.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Mizuho dropped their price target on shares of Matador Resources from $74.00 to $73.00 and set an “outperform” rating on the stock in a research note on Monday, December 16th. Raymond James decreased their price objective on shares of Matador Resources from $77.00 to $67.00 and set an “outperform” rating for the company in a research report on Monday, March 10th. Finally, Wells Fargo & Company dropped their target price on Matador Resources from $90.00 to $87.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 25th. One equities research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, Matador Resources has an average rating of “Moderate Buy” and an average target price of $72.93.

Matador Resources Trading Up 4.1 %

NYSE MTDR opened at $39.41 on Thursday. The firm has a market capitalization of $4.93 billion, a price-to-earnings ratio of 5.52 and a beta of 2.74. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.84 and a current ratio of 0.93. Matador Resources has a one year low of $35.19 and a one year high of $71.08. The company’s 50 day moving average price is $49.97 and its 200 day moving average price is $54.14.

Matador Resources (NYSE:MTDR) last posted its earnings results on Tuesday, February 18th. The energy company reported $1.83 earnings per share for the quarter, missing the consensus estimate 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 for the quarter, compared to analyst estimates of $967.10 million. On average, sell-side analysts predict that Matador Resources will post 8.53 EPS for the current year.

Insider Buying and Selling at Matador Resources

In related news, CAO Robert T. Macalik bought 1,200 shares of the stock in a transaction dated Wednesday, March 5th. The stock was bought at an average cost of $47.98 per share, with a total value of $57,576.00. Following the completion of the acquisition, the chief accounting officer now owns 31,000 shares of the company’s stock, valued at $1,487,380. This trade represents a 4.03 % 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, CEO Joseph Wm Foran bought 6,000 shares of the business’s stock in a transaction on Friday, February 21st. The stock was bought at an average price of $53.94 per share, for a total transaction of $323,640.00. Following the completion of the purchase, the chief executive officer now directly owns 39,379 shares of the company’s stock, valued at $2,124,103.26. The trade was a 17.98 % increase in their position. The disclosure for this purchase can be found here. Insiders acquired a total of 21,350 shares of company stock worth $1,100,769 over the last 90 days. Insiders own 6.10% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. LSV Asset Management boosted its holdings in shares of Matador Resources by 262.0% in the fourth quarter. LSV Asset Management now owns 1,517,308 shares of the energy company’s stock valued at $85,364,000 after acquiring an additional 1,098,108 shares in the last quarter. Copeland Capital Management LLC boosted its stake in Matador Resources by 145.2% during the 4th quarter. Copeland Capital Management LLC now owns 1,283,743 shares of the energy company’s stock valued at $72,223,000 after purchasing an additional 760,122 shares in the last quarter. Webs Creek Capital Management LP acquired a new position in shares of Matador Resources during the 4th quarter valued at $37,894,000. Alliancebernstein L.P. raised its stake in shares of Matador Resources by 25.9% in the 4th quarter. Alliancebernstein L.P. now owns 2,698,606 shares of the energy company’s stock worth $151,824,000 after buying an additional 555,245 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of Matador Resources in the fourth quarter valued at $22,509,000. 91.98% of the stock is owned by institutional investors and hedge funds.

About Matador Resources

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.