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

Matador Resources (NYSE:MTDR) had its price objective lowered by Citigroup from $72.00 to $68.00 in a report issued on Monday morning,Benzinga reports. The firm currently has a buy rating on the energy company’s stock.

Other analysts have also recently issued research reports about the stock. Roth Capital raised shares of Matador Resources from a “neutral” rating to a “buy” rating and set a $65.00 price objective on the stock in a report on Monday, June 22nd. Mizuho boosted their target price on shares of Matador Resources from $74.00 to $77.00 and gave the company an “outperform” rating in a research note on Wednesday, May 27th. Weiss Ratings lowered shares of Matador Resources from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, May 12th. Morgan Stanley decreased their target price on shares of Matador Resources from $75.00 to $66.00 and set an “equal weight” rating for the company in a research report on Monday, June 29th. Finally, BMO Capital Markets raised their price target on shares of Matador Resources from $65.00 to $72.00 and gave the company an “outperform” rating in a research note on Monday, April 6th. Eleven equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $64.08.

Matador Resources Price Performance

Shares of MTDR opened at $55.06 on Monday. The company has a market cap of $6.84 billion, a P/E ratio of 14.15 and a beta of 0.74. The stock has a fifty day moving average price of $53.41 and a 200 day moving average price of $53.16. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.73 and a quick ratio of 0.70. Matador Resources has a 12 month low of $37.14 and a 12 month high of $66.84.

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 the consensus estimate of $1.24 by $0.29. Matador Resources had a return on equity of 11.20% and a net margin of 14.41%.The firm had revenue of $941.60 million for the quarter, compared to analyst estimates of $871.57 million. During the same period last year, the company earned $1.99 earnings per share. The firm’s revenue for the quarter was down 33.8% on a year-over-year basis. On average, research analysts forecast that Matador Resources will post 6.84 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Joseph Wm Foran purchased 2,000 shares of Matador Resources stock in a transaction dated Tuesday, June 9th. The stock was bought at an average cost of $53.07 per share, with a total value of $106,140.00. Following the purchase, the chief executive officer owned 11,479 shares in the company, valued at approximately $609,190.53. The trade was a 21.10% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Christopher P. Calvert acquired 1,500 shares of the stock in a transaction that occurred on Friday, May 29th. The shares were bought at an average price of $53.24 per share, for a total transaction of $79,860.00. Following the purchase, the chief financial officer directly owned 41,500 shares of the company’s stock, valued at approximately $2,209,460. This trade represents a 3.75% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders have purchased 11,907 shares of company stock worth $635,712. 5.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Matador Resources

Hedge funds have recently modified their holdings of the company. Altshuler Shaham Ltd increased its holdings in shares of Matador Resources by 36.7% in the first quarter. Altshuler Shaham Ltd now owns 748 shares of the energy company’s stock valued at $47,000 after buying an additional 201 shares in the last quarter. Burford Brothers Inc. boosted its stake in shares of Matador Resources by 0.8% during the 1st quarter. Burford Brothers Inc. now owns 26,798 shares of the energy company’s stock worth $1,693,000 after acquiring an additional 225 shares in the last quarter. Fiduciary Trust Co boosted its stake in shares of Matador Resources by 2.2% during the 3rd quarter. Fiduciary Trust Co now owns 11,821 shares of the energy company’s stock worth $531,000 after acquiring an additional 253 shares in the last quarter. O Shaughnessy Asset Management LLC grew its holdings in shares of Matador Resources by 2.9% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 9,138 shares of the energy company’s stock worth $388,000 after acquiring an additional 254 shares during the last quarter. Finally, Verdence Capital Advisors LLC grew its holdings in shares of Matador Resources by 3.5% in the 4th quarter. Verdence Capital Advisors LLC now owns 8,233 shares of the energy company’s stock worth $349,000 after acquiring an additional 278 shares during the last quarter. 91.98% of the stock is currently owned by institutional investors and hedge funds.

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.