Matador Resources (NYSE:MTDR) Given New $72.00 Price Target at Citigroup

Matador Resources (NYSE:MTDR) had its target price dropped by research analysts at Citigroup from $77.00 to $72.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the energy company’s stock. Citigroup’s target price would suggest a potential upside of 33.88% from the company’s current price.

Other analysts have also issued research reports about the stock. UBS Group boosted their target price on shares of Matador Resources from $50.00 to $52.00 and gave the company a “neutral” rating in a research note on Thursday, March 5th. Mizuho reduced their price target on shares of Matador Resources from $76.00 to $74.00 and set an “outperform” rating for the company in a report on Thursday, May 7th. Wells Fargo & Company boosted their price target on shares of Matador Resources from $54.00 to $63.00 and gave the company an “equal weight” rating in a report on Thursday, April 16th. Morgan Stanley boosted their price target on shares of Matador Resources from $73.00 to $75.00 and gave the company an “equal weight” rating in a report on Friday. Finally, Roth Mkm reissued a “neutral” rating and set a $65.00 price target (up from $52.00) on shares of Matador Resources in a report on Wednesday, April 8th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, Matador Resources presently has an average rating of “Moderate Buy” and an average price target of $64.85.

Matador Resources Stock Performance

MTDR stock traded down $2.86 during trading on Tuesday, hitting $53.78. 1,239,030 shares of the company’s stock traded hands, compared to its average volume of 1,870,233. The company has a quick ratio of 0.70, a current ratio of 0.73 and a debt-to-equity ratio of 0.59. Matador Resources has a 52 week low of $37.14 and a 52 week high of $66.84. The stock has a fifty day moving average price of $59.68 and a two-hundred day moving average price of $50.06. The stock has a market capitalization of $6.68 billion, a price-to-earnings ratio of 13.83 and a beta of 0.81.

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, beating the consensus estimate of $1.24 by $0.29. Matador Resources had a net margin of 14.41% and a return on equity of 11.20%. The firm had revenue of $941.60 million during the quarter, compared to analyst estimates of $871.57 million. During the same quarter in the previous year, the firm earned $1.99 earnings per share. The firm’s revenue for the quarter was down 33.8% compared to the same quarter last year. As a group, equities analysts anticipate that Matador Resources will post 7.36 EPS for the current fiscal year.

Hedge Funds Weigh In On Matador Resources

Several hedge funds and other institutional investors have recently modified their holdings of the company. Harbor Capital Advisors Inc. lifted its holdings in Matador Resources by 184.9% in the fourth quarter. Harbor Capital Advisors Inc. now owns 30,836 shares of the energy company’s stock worth $1,309,000 after purchasing an additional 20,011 shares during the period. Thrivent Financial for Lutherans lifted its holdings in Matador Resources by 3.8% in the third quarter. Thrivent Financial for Lutherans now owns 1,032,602 shares of the energy company’s stock worth $46,395,000 after purchasing an additional 37,889 shares during the period. CIBC Bancorp USA Inc. acquired a new stake in Matador Resources in the third quarter worth about $61,615,000. LSV Asset Management lifted its holdings in Matador Resources by 5.9% in the third quarter. LSV Asset Management now owns 3,532,303 shares of the energy company’s stock worth $158,706,000 after purchasing an additional 197,528 shares during the period. Finally, Neo Ivy Capital Management acquired a new stake in Matador Resources in the third quarter worth about $871,000. 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.