UBS Group Issues Pessimistic Forecast for Matador Resources (NYSE:MTDR) Stock Price

Matador Resources (NYSE:MTDR) had its target price decreased by investment analysts at UBS Group from $62.00 to $56.00 in a report issued on Tuesday,Benzinga reports. The firm presently has a “neutral” rating on the energy company’s stock. UBS Group’s price target points to a potential upside of 1.71% from the stock’s current price.

A number of other analysts also recently commented on the company. Zacks Research downgraded Matador Resources from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 25th. BMO Capital Markets lifted their price objective on Matador Resources from $65.00 to $72.00 and gave the stock an “outperform” rating in a report on Monday, April 6th. KeyCorp boosted their price objective on Matador Resources from $61.00 to $73.00 and gave the company an “overweight” rating in a research report on Thursday, April 2nd. Weiss Ratings lowered Matador Resources from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, May 12th. Finally, Wells Fargo & Company raised their target price 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. 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, the stock presently has an average rating of “Moderate Buy” and an average price target of $64.08.

Matador Resources Stock Up 1.8%

Shares of MTDR opened at $55.06 on Tuesday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.70 and a current ratio of 0.73. The company has a 50-day simple moving average of $53.41 and a 200-day simple moving average of $53.16. Matador Resources has a 52 week low of $37.14 and a 52 week high of $66.84. The firm has a market capitalization of $6.84 billion, a P/E ratio of 14.15 and a beta of 0.74.

Matador Resources (NYSE:MTDR) last released 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 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 the consensus estimate of $871.57 million. During the same period last year, the business earned $1.99 earnings per share. The firm’s revenue for the quarter was down 33.8% compared to the same quarter last year. On average, equities research analysts expect that Matador Resources will post 6.84 earnings per share for the current year.

Insider Activity

In related news, COO Glenn W. Stetson acquired 500 shares of the firm’s stock in a transaction on Tuesday, June 9th. The shares were purchased at an average price of $53.41 per share, with a total value of $26,705.00. Following the acquisition, the chief operating officer directly owned 95,470 shares in the company, valued at $5,099,052.70. The trade was a 0.53% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, CEO Joseph Wm Foran acquired 2,000 shares of the stock in a transaction on Tuesday, June 9th. The stock was bought at an average price of $53.07 per share, with a total value of $106,140.00. Following the transaction, the chief executive officer directly owned 11,479 shares in the company, valued at approximately $609,190.53. This represents a 21.10% increase in their position. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders acquired 11,907 shares of company stock worth $635,712. 5.90% of the stock is owned by corporate insiders.

Institutional Trading of Matador Resources

A number of hedge funds and other institutional investors have recently modified their holdings of MTDR. Dimensional Fund Advisors LP raised its position in Matador Resources by 4.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 6,948,104 shares of the energy company’s stock worth $439,010,000 after purchasing an additional 277,839 shares during the last quarter. State Street Corp lifted its holdings in Matador Resources by 1.9% during the 4th quarter. State Street Corp now owns 4,617,864 shares of the energy company’s stock worth $195,982,000 after buying an additional 86,344 shares in the last quarter. LSV Asset Management boosted its position in Matador Resources by 8.8% in the 4th quarter. LSV Asset Management now owns 3,842,011 shares of the energy company’s stock valued at $163,055,000 after buying an additional 309,708 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of 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 during the period. Finally, Adage Capital Partners GP L.L.C. increased its stake in shares of Matador Resources by 12.9% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 3,365,997 shares of the energy company’s stock valued at $142,853,000 after buying an additional 385,000 shares during the period. Institutional investors and hedge funds own 91.98% of the company’s stock.

About Matador Resources

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.