Truist Financial Issues Pessimistic Forecast for Matador Resources (NYSE:MTDR) Stock Price

Matador Resources (NYSE:MTDR) had its price target dropped by equities researchers at Truist Financial from $63.00 to $59.00 in a report issued on Monday,Benzinga reports. The firm currently has a “buy” rating on the energy company’s stock. Truist Financial’s target price would suggest a potential upside of 13.39% from the company’s current price.

Other equities research analysts also recently issued research reports about the stock. Weiss Ratings downgraded shares of Matador Resources from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, May 12th. Mizuho upgraded shares of Matador Resources to a “strong-buy” rating in a research report on Friday, July 31st. UBS Group dropped their price objective on shares of Matador Resources from $56.00 to $54.00 and set a “neutral” rating on the stock in a report on Monday, July 27th. Roth Capital raised shares of Matador Resources from a “neutral” rating to a “buy” rating and set a $65.00 price objective for the company in a research report on Monday, June 22nd. Finally, Zacks Research downgraded Matador Resources from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 25th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Matador Resources currently has a consensus rating of “Moderate Buy” and a consensus price target of $65.71.

Matador Resources Stock Performance

Shares of Matador Resources stock traded up $2.98 during trading on Monday, reaching $52.03. The company’s stock had a trading volume of 984,853 shares, compared to its average volume of 1,885,330. Matador Resources has a one year low of $37.14 and a one year high of $66.84. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.62 and a current ratio of 0.65. The firm has a market cap of $6.46 billion, a price-to-earnings ratio of 8.94 and a beta of 0.76. The business’s fifty day moving average price is $51.44 and its 200-day moving average price is $53.71.

Matador Resources (NYSE:MTDR) last announced its earnings results on Wednesday, August 5th. The energy company reported $2.61 earnings per share for the quarter, beating the consensus estimate of $2.08 by $0.53. The firm had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.06 billion. Matador Resources had a return on equity of 13.18% and a net margin of 19.85%.The firm’s revenue for the quarter was up 32.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.53 EPS. As a group, equities research analysts predict that Matador Resources will post 6.98 earnings per share for the current year.

Insider Buying and Selling at Matador Resources

In related news, CFO Christopher P. Calvert purchased 1,500 shares of the firm’s stock in a transaction that occurred on Friday, May 29th. The shares were acquired at an average price of $53.24 per share, with a total value of $79,860.00. Following the purchase, the chief financial officer directly owned 41,500 shares in the company, valued at $2,209,460. This represents a 3.75% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Glenn W. Stetson purchased 500 shares of the stock in a transaction on Tuesday, June 9th. The stock was bought at an average price of $53.41 per share, for a total transaction of $26,705.00. Following the completion of the transaction, the chief operating officer directly owned 95,470 shares of the company’s stock, valued at approximately $5,099,052.70. This trade represents a 0.53% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders have purchased 11,907 shares of company stock valued at $635,712. 5.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Matador Resources

Institutional investors and hedge funds have recently made changes to their positions in the company. Altshuler Shaham Ltd boosted its stake in shares of Matador Resources by 36.7% in the 1st quarter. Altshuler Shaham Ltd now owns 748 shares of the energy company’s stock worth $47,000 after buying an additional 201 shares during the last quarter. Burford Brothers Inc. increased its position in shares of Matador Resources by 0.8% during the first quarter. Burford Brothers Inc. now owns 26,798 shares of the energy company’s stock valued at $1,693,000 after acquiring an additional 225 shares during the last quarter. Fiduciary Trust Co lifted its holdings in Matador Resources by 2.2% during the third quarter. Fiduciary Trust Co now owns 11,821 shares of the energy company’s stock worth $531,000 after acquiring an additional 253 shares during the period. O Shaughnessy Asset Management LLC boosted its position in Matador Resources by 2.9% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 9,138 shares of the energy company’s stock worth $388,000 after purchasing an additional 254 shares during the last quarter. Finally, Verdence Capital Advisors LLC boosted its position in Matador Resources by 3.5% in the fourth quarter. Verdence Capital Advisors LLC now owns 8,233 shares of the energy company’s stock worth $349,000 after purchasing an additional 278 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.