Matador Resources (NYSE:MTDR) Stock Gets Price Target Cut from Mizuho

Matador Resources (NYSE:MTDR) had its price target lowered by Mizuho from $77.00 to $71.00 in a research report report published on Monday,Benzinga reports. Mizuho currently has an outperform rating on the energy company’s stock.

MTDR has been the topic of several other reports. Scotiabank began coverage on shares of Matador Resources in a research note on Thursday, October 15th. They issued a “sector perform” rating and a $59.00 price target on the stock. Wells Fargo & Company dropped their price objective on shares of Matador Resources from $77.00 to $76.00 and set an “overweight” rating for the company in a research note on Wednesday, October 14th. Wall Street Zen downgraded shares of Matador Resources from a “strong-buy” rating to a “buy” rating in a report on Saturday, October 17th. Stephens boosted their price objective on shares of Matador Resources from $92.00 to $93.00 and gave the company an “overweight” rating in a report on Tuesday, July 28th. Finally, Weiss Ratings upgraded shares of Matador Resources from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, October 8th. Twelve analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $67.20.

Matador Resources Stock Performance

Shares of NYSE MTDR opened at $57.77 on Monday. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.65 and a quick ratio of 0.62. The firm has a market cap of $7.15 billion, a price-to-earnings ratio of 9.91 and a beta of 0.98. The stock’s fifty day moving average price is $56.22 and its two-hundred day moving average price is $55.15. Matador Resources has a one year low of $37.14 and a one year high of $66.84.

Matador Resources (NYSE:MTDR) last posted its earnings results on Wednesday, August 5th. The energy company reported $2.61 earnings per share for the quarter, topping analysts’ consensus estimates of $2.08 by $0.53. The company had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.06 billion. Matador Resources had a return on equity of 13.18% and a net margin of 19.85%. The company’s revenue was up 32.5% on a year-over-year basis. During the same quarter last year, the firm earned $1.53 earnings per share. On average, equities analysts forecast that Matador Resources will post 7.62 EPS for the current year.

Insider Activity

In other Matador Resources news, EVP William Elsener acquired 850 shares of the company’s stock in a transaction that occurred on Monday, August 10th. The stock was acquired at an average cost of $50.94 per share, for a total transaction of $43,299.00. Following the transaction, the executive vice president directly owned 114,879 shares in the company, valued at $5,851,936.26. This represents a 0.75% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Joseph Foran acquired 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 12th. The shares were acquired at an average price of $52.16 per share, with a total value of $521,600.00. Following the completion of the transaction, the chief executive officer owned 25,617 shares in the company, valued at $1,336,182.72. The trade was a 64.03% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders have acquired 23,144 shares of company stock worth $1,211,793. Insiders own 5.90% of the company’s stock.

Institutional Trading of Matador Resources

Several large investors have recently bought and sold shares of the business. V Square Quantitative Management LLC acquired a new stake in shares of Matador Resources in the 1st quarter valued at approximately $27,000. Center for Financial Planning Inc. bought a new stake in shares of Matador Resources during the 1st quarter valued at approximately $41,000. Harbor Investment Advisory LLC acquired a new position in Matador Resources during the 2nd quarter worth approximately $44,000. Altshuler Shaham Ltd increased its position in Matador Resources by 36.7% during the 1st quarter. Altshuler Shaham Ltd now owns 748 shares of the energy company’s stock worth $47,000 after purchasing an additional 201 shares in the last quarter. Finally, Integrated Wealth Concepts LLC acquired a new position in Matador Resources during the 2nd quarter worth approximately $54,000. 91.98% of the stock is owned by institutional investors and hedge funds.

About Matador Resources

Matador Resources Company (NYSE: MTDR) is an independent energy company engaged in the exploration, development, production and acquisition of oil, natural gas and natural gas liquids. The company focuses primarily on unconventional, or shale, resource plays and operates across both upstream exploration and production and related midstream activities.

Matador’s principal exploration and production operations are located in the Delaware Basin in southeastern New Mexico and West Texas. Its midstream operations, conducted primarily through San Mateo Midstream, provide natural gas gathering and processing, crude oil and produced-water gathering, and water sourcing and disposal services that support the company’s operations and other producers in the region.

Founded in 2003 and headquartered in Dallas, Texas, Matador has historically expanded through development and acquisitions in U.S.