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

Matador Resources (NYSE:MTDR) had its price objective reduced by equities researchers at Citigroup from $72.00 to $68.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the energy company’s stock. Citigroup’s price target indicates a potential upside of 26.48% from the stock’s previous close.

Other equities analysts have also recently issued reports about the company. BMO Capital Markets raised their price objective on Matador Resources from $65.00 to $72.00 and gave the company an “outperform” rating in a report on Monday, April 6th. Truist Financial reduced their price target on shares of Matador Resources from $67.00 to $63.00 and set a “buy” rating on the stock in a research report on Thursday. Zacks Research downgraded shares of Matador Resources from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 25th. Morgan Stanley lowered their price objective on shares of Matador Resources from $75.00 to $66.00 and set an “equal weight” rating for the company in a report on Monday, June 29th. Finally, Roth Capital raised shares of Matador Resources from a “neutral” rating to a “buy” rating and set a $65.00 price objective for the company in a research note on Monday, June 22nd. Eleven research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Matador Resources currently has an average rating of “Moderate Buy” and a consensus price target of $63.77.

Matador Resources Price Performance

Shares of NYSE MTDR traded down $0.04 during mid-day trading on Monday, reaching $53.77. 541,078 shares of the company were exchanged, compared to its average volume of 1,831,016. Matador Resources has a 52 week low of $37.14 and a 52 week high of $66.84. The company’s 50 day moving average price is $53.56 and its 200 day moving average price is $52.91. The stock has a market capitalization of $6.68 billion, a PE ratio of 13.81 and a beta of 0.74. The company has a quick ratio of 0.70, a current ratio of 0.73 and a debt-to-equity ratio of 0.59.

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

Insider Transactions at Matador Resources

In other news, CEO Joseph Wm Foran purchased 4,675 shares of the company’s stock in a transaction on Wednesday, May 27th. The stock was acquired at an average price of $52.36 per share, with a total value of $244,783.00. Following the transaction, the chief executive officer directly owned 6,997 shares of the company’s stock, valued at approximately $366,362.92. This represents a 201.34% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Christopher P. Calvert purchased 1,500 shares of the business’s stock in a transaction on Friday, May 29th. The stock was purchased at an average cost of $53.24 per share, for a total transaction of $79,860.00. Following the acquisition, the chief financial officer owned 41,500 shares in the company, valued at approximately $2,209,460. The trade was a 3.75% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders have bought 11,907 shares of company stock worth $635,712. Insiders own 5.90% of the company’s stock.

Hedge Funds Weigh In On Matador Resources

Hedge funds and other institutional investors have recently modified their holdings of the company. GAMMA Investing LLC boosted its holdings in shares of Matador Resources by 21.6% during the second quarter. GAMMA Investing LLC now owns 3,099 shares of the energy company’s stock worth $154,000 after purchasing an additional 551 shares during the period. Harbor Investment Advisory LLC purchased a new position in Matador Resources during the 2nd quarter valued at about $44,000. Moody National Bank Trust Division raised its position in Matador Resources by 17.9% during the 2nd quarter. Moody National Bank Trust Division now owns 5,264 shares of the energy company’s stock valued at $262,000 after purchasing an additional 800 shares during the last quarter. Carlson Capital L.P. raised its position in Matador Resources by 73.1% during the 1st quarter. Carlson Capital L.P. now owns 33,757 shares of the energy company’s stock valued at $2,133,000 after purchasing an additional 14,257 shares during the last quarter. Finally, Norris Financial Group LLC purchased a new stake in Matador Resources in the 1st quarter worth approximately $250,000. 91.98% of the stock is owned by 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.