Raymond James Lowers Matador Resources (NYSE:MTDR) Price Target to $67.00

Matador Resources (NYSE:MTDR) had its price objective reduced by analysts at Raymond James from $77.00 to $67.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has an “outperform” rating on the energy company’s stock. Raymond James’ target price points to a potential upside of 46.29% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the company. Truist Financial increased their price objective on Matador Resources from $75.00 to $80.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Benchmark restated a “buy” rating and set a $62.00 price objective on shares of Matador Resources in a report on Friday, January 17th. Mizuho reduced their target price on shares of Matador Resources from $74.00 to $73.00 and set an “outperform” rating for the company in a research note on Monday, December 16th. Wells Fargo & Company boosted their price target on Matador Resources from $87.00 to $91.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Finally, Wolfe Research upgraded Matador Resources from a “peer perform” rating to an “outperform” rating and set a $72.00 price objective for the company in a research report on Friday, January 3rd. One investment analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $74.60.

Matador Resources Stock Up 1.2 %

Shares of NYSE:MTDR traded up $0.53 on Monday, reaching $45.80. The company had a trading volume of 397,759 shares, compared to its average volume of 1,254,702. Matador Resources has a twelve month low of $43.89 and a twelve month high of $71.08. The stock has a market capitalization of $5.73 billion, a P/E ratio of 6.41 and a beta of 3.17. The company has a quick ratio of 0.84, a current ratio of 0.93 and a debt-to-equity ratio of 0.61. The stock has a 50-day moving average price of $57.21 and a 200 day moving average price of $55.34.

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

Insider Buying and Selling at Matador Resources

In other Matador Resources news, CEO Joseph Wm Foran acquired 6,000 shares of the stock in a transaction dated Friday, February 21st. The shares were bought at an average cost of $53.94 per share, for a total transaction of $323,640.00. Following the completion of the acquisition, the chief executive officer now directly owns 39,379 shares of the company’s stock, valued at approximately $2,124,103.26. This trade represents a 17.98 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP William Thomas Elsener bought 800 shares of the stock in a transaction that occurred on Friday, December 13th. The stock was bought at an average cost of $56.60 per share, for a total transaction of $45,280.00. Following the transaction, the executive vice president now owns 102,964 shares of the company’s stock, valued at $5,827,762.40. The trade was a 0.78 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 21,530 shares of company stock worth $1,119,092. Insiders own 6.10% of the company’s stock.

Institutional Inflows and Outflows

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

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.