Matador Resources (NYSE:MTDR) Price Target Cut to $73.00 by Analysts at Mizuho

Matador Resources (NYSE:MTDR) had its target price dropped by equities researchers at Mizuho from $74.00 to $73.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has an “outperform” rating on the energy company’s stock. Mizuho’s target price would indicate a potential upside of 59.84% from the company’s current price.

A number of other research analysts also recently commented on the company. KeyCorp lowered their price objective on Matador Resources from $72.00 to $60.00 and set an “overweight” rating for the company in a research note on Monday, April 21st. JPMorgan Chase & Co. reduced their price target on shares of Matador Resources from $65.00 to $61.00 and set an “overweight” rating for the company in a report on Thursday, April 10th. Benchmark reaffirmed a “buy” rating and issued a $62.00 price objective on shares of Matador Resources in a report on Friday, January 17th. Wells Fargo & Company cut their price objective on shares of Matador Resources from $86.00 to $80.00 and set an “overweight” rating on the stock in a research report on Monday, April 28th. Finally, UBS Group assumed coverage on shares of Matador Resources in a research note on Tuesday, April 22nd. They issued a “neutral” rating and a $47.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $70.33.

Matador Resources Stock Performance

MTDR traded up $0.98 during trading hours on Tuesday, hitting $45.67. 246,852 shares of the stock were exchanged, compared to its average volume of 1,613,114. The stock has a market cap of $5.72 billion, a price-to-earnings ratio of 6.40 and a beta of 1.47. The stock has a 50-day simple moving average of $44.26 and a 200-day simple moving average of $52.54. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.93 and a quick ratio of 0.84. Matador Resources has a 12 month low of $35.19 and a 12 month high of $66.89.

Matador Resources (NYSE:MTDR) last posted its quarterly earnings results on Wednesday, April 23rd. The energy company reported $1.99 EPS for the quarter, beating the consensus estimate of $1.74 by $0.25. Matador Resources had a net margin of 25.26% and a return on equity of 18.52%. The business had revenue of $1.01 billion during the quarter, compared to analyst estimates of $980.87 million. During the same period in the previous year, the business posted $1.71 EPS. The company’s quarterly revenue was up 28.7% on a year-over-year basis. Analysts anticipate that Matador Resources will post 8.53 earnings per share for the current year.

Matador Resources announced that its board has approved a share buyback program on Wednesday, April 23rd that permits the company to repurchase $400.00 million in outstanding shares. This repurchase authorization permits the energy company to reacquire up to 7.8% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its shares are undervalued.

Insider Transactions at Matador Resources

In other Matador Resources news, insider Van H. Singleton II acquired 1,000 shares of the stock in a transaction dated Thursday, May 1st. The shares were bought at an average price of $40.72 per share, with a total value of $40,720.00. Following the purchase, the insider now directly owns 291,135 shares of the company’s stock, valued at approximately $11,855,017.20. This trade represents a 0.34% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Joseph Wm Foran bought 6,000 shares of the company’s stock in a transaction that occurred on Friday, February 21st. The stock was acquired at an average price of $53.94 per share, for a total transaction of $323,640.00. Following the completion of the acquisition, the chief executive officer now directly owns 39,379 shares in the company, valued at approximately $2,124,103.26. This represents a 17.98% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 36,200 shares of company stock valued at $1,701,872. Corporate insiders own 6.10% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in MTDR. Russell Investments Group Ltd. lifted its position in shares of Matador Resources by 51.7% during the 1st quarter. Russell Investments Group Ltd. now owns 122,900 shares of the energy company’s stock valued at $6,279,000 after acquiring an additional 41,861 shares during the last quarter. Prudential PLC acquired a new stake in shares of Matador Resources during the first quarter worth $732,000. Nuveen LLC acquired a new position in shares of Matador Resources in the 1st quarter valued at $35,715,000. Virtu Financial LLC acquired a new position in shares of Matador Resources in the 1st quarter valued at $268,000. Finally, Atlas Capital Advisors Inc. increased its stake in Matador Resources by 834.6% in the 1st quarter. Atlas Capital Advisors Inc. now owns 2,131 shares of the energy company’s stock worth $109,000 after purchasing an additional 1,903 shares in the last quarter. Institutional investors and hedge funds own 91.98% of the company’s stock.

Matador Resources Company Profile

Matador Resources Company, an independent energy company, engages in the exploration, development, production, and acquisition of oil and natural gas resources in the United States. It operates through two segments, Exploration and Production; and Midstream. The company primarily holds interests in the Wolfcamp and Bone Spring plays in the Delaware Basin in Southeast New Mexico and West Texas.