Citigroup Lowers Matador Resources (NYSE:MTDR) Price Target to $68.00

Matador Resources (NYSE:MTDR) had its price objective decreased by research analysts at Citigroup from $72.00 to $68.00 in a report released on Monday,Benzinga reports. The firm currently has a “buy” rating on the energy company’s stock. Citigroup’s price target would indicate a potential upside of 25.79% from the stock’s current price.

A number of other equities analysts have also recently issued reports on the stock. Morgan Stanley cut their target price on shares of Matador Resources from $75.00 to $66.00 and set an “equal weight” rating on the stock in a report on Monday, June 29th. KeyCorp upped their target price on Matador Resources from $61.00 to $73.00 and gave the company an “overweight” rating in a report on Thursday, April 2nd. Wells Fargo & Company increased their price target on Matador Resources from $54.00 to $63.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 16th. BMO Capital Markets increased their price target on Matador Resources from $65.00 to $72.00 and gave the stock an “outperform” rating in a research report on Monday, April 6th. Finally, Roth Capital raised Matador Resources from a “neutral” rating to a “buy” rating and set a $65.00 price target on the stock in a report on Monday, June 22nd. Eleven analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, Matador Resources has a consensus rating of “Moderate Buy” and an average price target of $64.08.

Matador Resources Price Performance

Matador Resources stock opened at $54.06 on Monday. The firm has a fifty day moving average of $53.46 and a 200-day moving average of $53.07. Matador Resources has a 52-week low of $37.14 and a 52-week high of $66.84. The company has a quick ratio of 0.70, a current ratio of 0.73 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $6.71 billion, a P/E ratio of 13.90 and a beta of 0.74.

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

Insider Activity

In other Matador Resources news, CFO Christopher P. Calvert acquired 1,500 shares of Matador Resources stock in a transaction dated Friday, May 29th. The stock was acquired at an average cost of $53.24 per share, for a total transaction of $79,860.00. Following the completion of the transaction, the chief financial officer owned 41,500 shares in the company, valued at approximately $2,209,460. This represents a 3.75% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, COO Glenn W. Stetson bought 500 shares of the business’s stock in a transaction on Tuesday, June 9th. The shares were acquired at an average cost of $53.41 per share, for a total transaction of $26,705.00. Following the purchase, the chief operating officer directly owned 95,470 shares in the company, valued at $5,099,052.70. This represents a 0.53% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders have acquired 11,907 shares of company stock valued at $635,712. Insiders own 5.90% of the company’s stock.

Institutional Investors Weigh In On Matador Resources

Several institutional investors have recently bought and sold shares of the stock. Wellington Management Group LLP grew its position in Matador Resources by 65.0% in the 4th quarter. Wellington Management Group LLP now owns 3,406,182 shares of the energy company’s stock valued at $144,558,000 after buying an additional 1,342,145 shares in the last quarter. Encompass Capital Advisors LLC acquired a new stake in shares of Matador Resources in the 4th quarter worth approximately $53,249,000. First Trust Advisors LP lifted its stake in shares of Matador Resources by 103.3% in the 1st quarter. First Trust Advisors LP now owns 1,595,415 shares of the energy company’s stock worth $100,798,000 after acquiring an additional 810,808 shares during the period. Balyasny Asset Management L.P. boosted its holdings in shares of Matador Resources by 2,495.0% in the fourth quarter. Balyasny Asset Management L.P. now owns 552,856 shares of the energy company’s stock valued at $23,463,000 after acquiring an additional 531,551 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership bought a new stake in Matador Resources during the first quarter worth approximately $30,904,000. Institutional investors and hedge funds own 91.98% of the company’s stock.

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.