Morgan Stanley Cuts Matador Resources (NYSE:MTDR) Price Target to $52.00

Matador Resources (NYSE:MTDR) had its target price decreased by Morgan Stanley from $56.00 to $52.00 in a research report report published on Friday morning,Benzinga reports. Morgan Stanley currently has an equal weight rating on the energy company’s stock.

Other equities analysts have also issued reports about the stock. Raymond James Financial reaffirmed an “outperform” rating and issued a $55.00 target price (down from $63.00) on shares of Matador Resources in a research note on Monday, October 20th. Mizuho boosted their price target on Matador Resources from $67.00 to $70.00 and gave the company an “outperform” rating in a report on Friday, December 12th. Bank of America reduced their price objective on Matador Resources from $55.00 to $50.00 and set a “buy” rating for the company in a research report on Monday, November 3rd. UBS Group lifted their target price on Matador Resources from $46.00 to $50.00 and gave the company a “neutral” rating in a research report on Friday, December 12th. Finally, Wells Fargo & Company cut their target price on Matador Resources from $71.00 to $61.00 and set an “overweight” rating on the stock in a research note on Friday, October 24th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $59.09.

Matador Resources Stock Down 0.5%

Matador Resources stock opened at $42.94 on Friday. The company has a 50 day moving average of $42.48 and a 200-day moving average of $44.82. The company has a quick ratio of 0.69, a current ratio of 0.73 and a debt-to-equity ratio of 0.55. Matador Resources has a twelve month low of $35.19 and a twelve month high of $62.59. The stock has a market capitalization of $5.34 billion, a PE ratio of 6.86 and a beta of 1.09.

Insider Buying and Selling at Matador Resources

In other news, CEO Joseph Wm Foran purchased 9,500 shares of the company’s stock in a transaction on Thursday, October 30th. The shares were purchased at an average cost of $39.78 per share, with a total value of $377,910.00. Following the completion of the transaction, the chief executive officer owned 17,525 shares of the company’s stock, valued at $697,144.50. The trade was a 118.38% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Christopher P. Calvert acquired 2,500 shares of the firm’s stock in a transaction dated Monday, November 3rd. The stock was purchased at an average cost of $39.44 per share, with a total value of $98,600.00. Following the transaction, the chief operating officer owned 40,000 shares in the company, valued at approximately $1,577,600. This trade represents a 6.67% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders acquired 37,346 shares of company stock valued at $1,463,396 in the last 90 days. Company insiders own 5.80% of the company’s stock.

Hedge Funds Weigh In On Matador Resources

A number of institutional investors have recently bought and sold shares of the business. Adage Capital Partners GP L.L.C. lifted its position in shares of Matador Resources by 143.1% in the second quarter. Adage Capital Partners GP L.L.C. now owns 2,556,472 shares of the energy company’s stock valued at $121,995,000 after buying an additional 1,505,000 shares during the last quarter. CIBC Bancorp USA Inc. bought a new stake in Matador Resources in the 3rd quarter valued at $61,615,000. LSV Asset Management lifted its holdings in Matador Resources by 45.7% during the 2nd quarter. LSV Asset Management now owns 3,334,775 shares of the energy company’s stock valued at $159,135,000 after purchasing an additional 1,045,396 shares during the last quarter. Encompass Capital Advisors LLC bought a new position in Matador Resources during the second quarter worth $37,194,000. Finally, Vaughan Nelson Investment Management L.P. increased its holdings in shares of Matador Resources by 64.3% in the third quarter. Vaughan Nelson Investment Management L.P. now owns 1,100,805 shares of the energy company’s stock valued at $49,459,000 after purchasing an additional 431,010 shares during the last quarter. 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.