Truist Financial Cuts Matador Resources (NYSE:MTDR) Price Target to $75.00

Matador Resources (NYSE:MTDR) had its target price dropped by equities researchers at Truist Financial from $86.00 to $75.00 in a research report issued on Monday, Benzinga reports. The firm presently has a “buy” rating on the energy company’s stock. Truist Financial’s price target would indicate a potential upside of 48.54% from the stock’s current price.

MTDR has been the topic of several other reports. TD Cowen increased their target price on shares of Matador Resources from $85.00 to $87.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Royal Bank of Canada reissued an “outperform” rating and issued a $75.00 target price on shares of Matador Resources in a research note on Friday, September 27th. JPMorgan Chase & Co. dropped their price target on Matador Resources from $83.00 to $76.00 and set an “overweight” rating on the stock in a research report on Thursday, September 12th. Wolfe Research assumed coverage on Matador Resources in a report on Thursday, July 18th. They set a “peer perform” rating on the stock. Finally, Stephens raised their target price on shares of Matador Resources from $74.00 to $76.00 and gave the stock an “overweight” rating in a report on Friday, September 27th. Two investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $75.67.

Matador Resources Stock Performance

Matador Resources stock opened at $50.49 on Monday. Matador Resources has a 1 year low of $47.15 and a 1 year high of $71.08. The company’s 50-day moving average is $54.70 and its two-hundred day moving average is $60.09. The company has a current ratio of 0.86, a quick ratio of 0.82 and a debt-to-equity ratio of 0.41. The company has a market cap of $6.30 billion, a PE ratio of 6.92 and a beta of 3.27.

Matador Resources (NYSE:MTDR) last released its quarterly earnings data on Tuesday, July 23rd. The energy company reported $2.05 EPS for the quarter, beating analysts’ consensus estimates of $1.76 by $0.29. The business had revenue of $847.14 million during the quarter, compared to the consensus estimate of $822.55 million. Matador Resources had a return on equity of 21.12% and a net margin of 29.01%. The firm’s revenue was up 32.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.42 earnings per share. Equities analysts anticipate that Matador Resources will post 7.63 earnings per share for the current year.

Insiders Place Their Bets

In other Matador Resources news, EVP Bryan A. Erman bought 1,000 shares of Matador Resources stock in a transaction dated Friday, September 6th. The stock was bought at an average price of $50.35 per share, with a total value of $50,350.00. Following the completion of the transaction, the executive vice president now owns 2,750 shares in the company, valued at approximately $138,462.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Joseph Wm Foran purchased 2,000 shares of the business’s stock in a transaction dated Friday, August 2nd. The stock was bought at an average price of $55.96 per share, with a total value of $111,920.00. Following the acquisition, the chief executive officer now owns 35,251 shares in the company, valued at approximately $1,972,645.96. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Bryan A. Erman bought 1,000 shares of the business’s stock in a transaction on Friday, September 6th. The shares were acquired at an average price of $50.35 per share, with a total value of $50,350.00. Following the completion of the purchase, the executive vice president now directly owns 2,750 shares of the company’s stock, valued at $138,462.50. The disclosure for this purchase can be found here. Insiders purchased a total of 12,300 shares of company stock valued at $634,615 over the last ninety days. 6.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Matador Resources

Institutional investors have recently modified their holdings of the business. Denver PWM LLC bought a new position in Matador Resources in the second quarter valued at about $27,000. Covestor Ltd lifted its stake in Matador Resources by 121.4% in the 1st quarter. Covestor Ltd now owns 414 shares of the energy company’s stock valued at $28,000 after purchasing an additional 227 shares during the last quarter. Rise Advisors LLC acquired a new stake in Matador Resources in the first quarter valued at approximately $34,000. Quarry LP grew its stake in shares of Matador Resources by 47.5% during the second quarter. Quarry LP now owns 779 shares of the energy company’s stock worth $46,000 after buying an additional 251 shares during the last quarter. Finally, Advisors Asset Management Inc. increased its holdings in shares of Matador Resources by 191.8% during the first quarter. Advisors Asset Management Inc. now owns 709 shares of the energy company’s stock worth $47,000 after buying an additional 466 shares in the last quarter. Institutional investors and hedge funds 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.