UBS Group Has Lowered Expectations for Matador Resources (NYSE:MTDR) Stock Price

Matador Resources (NYSE:MTDR) had its price objective decreased by equities research analysts at UBS Group from $62.00 to $56.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the energy company’s stock. UBS Group’s price objective suggests a potential upside of 3.81% from the company’s current price.

Several other research analysts have also recently issued reports on MTDR. BMO Capital Markets upped their price target on Matador Resources from $65.00 to $72.00 and gave the company an “outperform” rating in a report on Monday, April 6th. Weiss Ratings lowered Matador Resources from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, May 12th. Truist Financial reduced their target price on Matador Resources from $67.00 to $63.00 and set a “buy” rating for the company in a report on Thursday, July 16th. Roth Capital upgraded Matador Resources from a “neutral” rating to a “buy” rating and set a $65.00 price target for the company in a research report on Monday, June 22nd. Finally, Citigroup dropped their price target on Matador Resources from $72.00 to $68.00 and set a “buy” rating on the stock in a research note on Monday. Eleven investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $64.08.

Matador Resources Price Performance

Shares of NYSE MTDR traded up $0.48 during midday trading on Tuesday, reaching $53.95. The company’s stock had a trading volume of 477,280 shares, compared to its average volume of 1,826,183. The company has a current ratio of 0.73, a quick ratio of 0.70 and a debt-to-equity ratio of 0.59. The company has a 50 day moving average price of $53.51 and a 200 day moving average price of $52.99. Matador Resources has a one year low of $37.14 and a one year high of $66.84. The company has a market cap of $6.70 billion, a price-to-earnings ratio of 13.87 and a beta of 0.74.

Matador Resources (NYSE:MTDR) last released its earnings results on Wednesday, May 6th. The energy company reported $1.53 EPS for the quarter, beating the consensus estimate of $1.24 by $0.29. The business had revenue of $941.60 million during the quarter, compared to analyst estimates of $871.57 million. Matador Resources had a net margin of 14.41% and a return on equity of 11.20%. The business’s quarterly revenue was down 33.8% on a year-over-year basis. During the same period in the prior year, the business earned $1.99 earnings per share. On average, equities research analysts expect that Matador Resources will post 6.99 EPS for the current year.

Insider Activity

In other Matador Resources news, CEO Joseph Wm Foran purchased 4,675 shares of the company’s stock in a transaction that occurred on Wednesday, May 27th. The shares were purchased at an average cost of $52.36 per share, with a total value of $244,783.00. Following the completion of the transaction, the chief executive officer owned 6,997 shares of the company’s stock, valued at approximately $366,362.92. This represents a 201.34% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Christopher P. Calvert acquired 1,500 shares of Matador Resources stock in a transaction that occurred on Friday, May 29th. The stock was acquired at an average cost of $53.24 per share, with a total value of $79,860.00. Following the completion of the purchase, the chief financial officer owned 41,500 shares in the company, valued at approximately $2,209,460. This represents a 3.75% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders have acquired 11,907 shares of company stock worth $635,712. 5.90% of the stock is owned by corporate insiders.

Institutional Trading of Matador Resources

Hedge funds have recently made changes to their positions in the stock. Harbor Capital Advisors Inc. lifted its position in shares of Matador Resources by 184.9% in the fourth quarter. Harbor Capital Advisors Inc. now owns 30,836 shares of the energy company’s stock worth $1,309,000 after buying an additional 20,011 shares during the last quarter. Wedge Capital Management L L P NC increased its holdings in shares of Matador Resources by 25.5% during the 4th quarter. Wedge Capital Management L L P NC now owns 78,035 shares of the energy company’s stock valued at $3,312,000 after acquiring an additional 15,859 shares during the last quarter. Peterson Wealth Services raised its stake 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 valued at $2,180,000 after acquiring an additional 39,516 shares in the last quarter. Thrivent Financial for Lutherans lifted its holdings in 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 purchasing an additional 21,630 shares during the last quarter. Finally, Value Holdings Management CO. LLC lifted its holdings in Matador Resources by 10.9% in the 4th quarter. Value Holdings Management CO. LLC now owns 768,308 shares of the energy company’s stock worth $32,607,000 after purchasing an additional 75,300 shares during the last quarter. 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.