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

Matador Resources (NYSE:MTDR) had its price target reduced by stock analysts at Morgan Stanley from $56.00 to $52.00 in a research note issued on Friday,Benzinga reports. The firm presently has an “equal weight” rating on the energy company’s stock. Morgan Stanley’s price target suggests a potential upside of 20.54% from the stock’s previous close.

Other equities analysts have also recently issued research reports about the company. Royal Bank Of Canada lowered their target price on Matador Resources from $62.00 to $60.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 13th. Wells Fargo & Company lowered their price objective on shares of Matador Resources from $71.00 to $61.00 and set an “overweight” rating on the stock in a research report on Friday, October 24th. BMO Capital Markets reiterated an “outperform” rating on shares of Matador Resources in a research note on Thursday, December 18th. Weiss Ratings reissued a “hold (c-)” rating on shares of Matador Resources in a research note on Friday, January 9th. Finally, Bank of America dropped their price target on shares of Matador Resources from $55.00 to $50.00 and set a “buy” rating on the stock in a research note on Monday, November 3rd. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $59.09.

Matador Resources Price Performance

MTDR stock traded down $0.01 on Friday, hitting $43.14. 687,570 shares of the company’s stock traded hands, compared to its average volume of 1,801,571. The stock has a market cap of $5.36 billion, a price-to-earnings ratio of 6.89 and a beta of 1.09. Matador Resources has a 1-year low of $35.19 and a 1-year high of $62.59. The company has a current ratio of 0.73, a quick ratio of 0.69 and a debt-to-equity ratio of 0.55. The stock has a fifty day moving average of $42.45 and a 200-day moving average of $44.96.

Matador Resources (NYSE:MTDR) last posted its quarterly earnings data on Tuesday, October 21st. The energy company reported $1.36 EPS for the quarter, beating analysts’ consensus estimates of $1.22 by $0.14. Matador Resources had a net margin of 20.46% and a return on equity of 14.80%. The company had revenue of $939.02 million during the quarter, compared to analyst estimates of $893.22 million. During the same period in the prior year, the firm earned $1.89 earnings per share. The business’s quarterly revenue was up 4.4% on a year-over-year basis. On average, analysts forecast that Matador Resources will post 8.53 EPS for the current fiscal year.

Insider Buying and Selling at Matador Resources

In related news, Director Susan M. Ward acquired 5,000 shares of the business’s stock in a transaction that occurred on Monday, November 3rd. The shares were acquired at an average cost of $39.04 per share, with a total value of $195,200.00. Following the purchase, the director owned 14,923 shares of the company’s stock, valued at approximately $582,593.92. The trade was a 50.39% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Robert T. Macalik bought 1,500 shares of Matador Resources stock in a transaction that occurred on Thursday, November 6th. The stock was bought at an average price of $38.25 per share, with a total value of $57,375.00. Following the completion of the acquisition, the executive vice president owned 35,039 shares in the company, valued at approximately $1,340,241.75. The trade was a 4.47% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have acquired a total of 37,346 shares of company stock worth $1,463,396 in the last 90 days. Company insiders own 5.80% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of MTDR. MAI Capital Management boosted its holdings in Matador Resources by 13.9% during the second quarter. MAI Capital Management now owns 1,726 shares of the energy company’s stock valued at $82,000 after acquiring an additional 210 shares during the period. Beacon Pointe Advisors LLC lifted its position in shares of Matador Resources by 4.3% during the 2nd quarter. Beacon Pointe Advisors LLC now owns 5,281 shares of the energy company’s stock worth $252,000 after purchasing an additional 216 shares during the last quarter. ProShare Advisors LLC lifted its position in shares of Matador Resources by 4.5% during the 2nd quarter. ProShare Advisors LLC now owns 5,163 shares of the energy company’s stock worth $246,000 after purchasing an additional 220 shares during the last quarter. Fiduciary Trust Co boosted its stake in Matador Resources by 2.2% during the 3rd quarter. Fiduciary Trust Co now owns 11,821 shares of the energy company’s stock valued at $531,000 after purchasing an additional 253 shares during the period. Finally, Huntington National Bank grew its holdings in Matador Resources by 16.5% in the 2nd quarter. Huntington National Bank now owns 1,939 shares of the energy company’s stock valued at $93,000 after buying an additional 274 shares during the last quarter. Institutional investors 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.