Matador Resources (NYSE:MTDR) Price Target Lowered to $68.00 at Morgan Stanley

Matador Resources (NYSE:MTDR) had its price target cut by equities research analysts at Morgan Stanley from $84.00 to $68.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “equal weight” rating on the energy company’s stock. Morgan Stanley’s price objective suggests a potential upside of 31.71% from the stock’s previous close.

A number of other brokerages have also weighed in on MTDR. Wolfe Research raised Matador Resources from a “peer perform” rating to an “outperform” rating and set a $72.00 price objective on the stock in a report on Friday, January 3rd. Mizuho dropped their target price on Matador Resources from $74.00 to $73.00 and set an “outperform” rating on the stock in a research report on Monday, December 16th. Royal Bank of Canada reissued an “outperform” rating and set a $70.00 price target on shares of Matador Resources in a research report on Wednesday, January 15th. Stephens upped their price objective on shares of Matador Resources from $78.00 to $80.00 and gave the company an “overweight” rating in a report on Friday, December 6th. Finally, Benchmark reissued a “buy” rating and set a $62.00 target price on shares of Matador Resources in a report on Friday, January 17th. One equities research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $73.79.

Matador Resources Stock Performance

MTDR stock traded down $0.61 during trading on Thursday, reaching $51.63. The company had a trading volume of 350,280 shares, compared to its average volume of 1,386,715. The company has a market cap of $6.46 billion, a price-to-earnings ratio of 7.23 and a beta of 3.17. Matador Resources has a twelve month low of $43.89 and a twelve month high of $71.08. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.84 and a current ratio of 0.93. The firm has a 50-day simple moving average of $54.78 and a 200-day simple moving average of $54.86.

Matador Resources (NYSE:MTDR) last posted its quarterly earnings data on Tuesday, February 18th. The energy company reported $1.83 EPS for the quarter, missing the consensus estimate of $1.88 by ($0.05). Matador Resources had a return on equity of 18.52% and a net margin of 25.26%. The company had revenue of $970.37 million for the quarter, compared to analyst estimates of $967.10 million. As a group, sell-side analysts expect that Matador Resources will post 8.53 earnings per share for the current year.

Insider Transactions at Matador Resources

In other Matador Resources news, Director Timothy E. Parker bought 2,000 shares of the stock in a transaction on Wednesday, March 5th. The shares were bought at an average price of $44.67 per share, with a total value of $89,340.00. Following the purchase, the director now directly owns 83,790 shares in the company, valued at $3,742,899.30. This trade represents a 2.45 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Robert T. Macalik bought 1,200 shares of the company’s stock in a transaction dated Wednesday, March 5th. The shares were acquired at an average cost of $47.98 per share, with a total value of $57,576.00. Following the acquisition, the chief accounting officer now directly owns 31,000 shares of the company’s stock, valued at approximately $1,487,380. This represents a 4.03 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased 21,350 shares of company stock valued at $1,100,769 over the last 90 days. Corporate insiders own 6.10% of the company’s stock.

Institutional Trading of Matador Resources

Several large investors have recently bought and sold shares of the business. Franklin Resources Inc. boosted its holdings in shares of Matador Resources by 12.0% during the 3rd quarter. Franklin Resources Inc. now owns 1,008,421 shares of the energy company’s stock worth $54,122,000 after purchasing an additional 107,827 shares during the last quarter. Stifel Financial Corp lifted its position in Matador Resources by 81.2% during the third quarter. Stifel Financial Corp now owns 30,304 shares of the energy company’s stock worth $1,498,000 after buying an additional 13,583 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in Matador Resources by 16.9% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 139,254 shares of the energy company’s stock worth $8,088,000 after buying an additional 20,172 shares during the last quarter. HITE Hedge Asset Management LLC purchased a new stake in Matador Resources in the 3rd quarter valued at $10,526,000. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Matador Resources by 4.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,434,926 shares of the energy company’s stock worth $70,914,000 after acquiring an additional 57,254 shares during the last quarter. Hedge funds and other institutional investors 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.