Matador Resources (NYSE:MTDR) Price Target Cut to $62.00

Matador Resources (NYSE:MTDR) had its price objective dropped by analysts at Benchmark from $71.00 to $62.00 in a report released on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the energy company’s stock. Benchmark’s target price suggests a potential downside of 3.95% from the stock’s previous close.

Several other equities analysts have also weighed in on the stock. Wells Fargo & Company lifted their target price on shares of Matador Resources from $76.00 to $85.00 and gave the company an “overweight” rating in a report on Thursday, April 18th. Royal Bank of Canada restated an “outperform” rating and set a $70.00 target price on shares of Matador Resources in a report on Tuesday, March 5th. StockNews.com upgraded shares of Matador Resources from a “sell” rating to a “hold” rating in a report on Thursday, February 22nd. Raymond James cut their price objective on shares of Matador Resources from $76.00 to $70.00 and set an “outperform” rating on the stock in a report on Monday, January 8th. Finally, TD Cowen boosted their price objective on shares of Matador Resources from $64.00 to $72.00 and gave the stock an “outperform” rating in a report on Monday, March 4th. One analyst has rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, Matador Resources currently has an average rating of “Moderate Buy” and an average target price of $73.90.

Matador Resources Trading Down 0.2 %

Shares of NYSE MTDR traded down $0.13 during trading on Tuesday, hitting $64.55. 188,133 shares of the company traded hands, compared to its average volume of 1,369,111. Matador Resources has a 1 year low of $42.04 and a 1 year high of $71.08. The company has a 50-day moving average price of $64.89 and a 200-day moving average price of $60.05. The firm has a market capitalization of $7.72 billion, a P/E ratio of 9.19 and a beta of 3.32. The company has a quick ratio of 0.98, a current ratio of 1.04 and a debt-to-equity ratio of 0.53.

Matador Resources (NYSE:MTDR) last announced its quarterly earnings data on Wednesday, February 21st. The energy company reported $1.99 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.04 by ($0.05). Matador Resources had a net margin of 30.14% and a return on equity of 21.54%. The company had revenue of $836.13 million for the quarter, compared to analysts’ expectations of $842.96 million. During the same period in the prior year, the firm earned $2.08 earnings per share. The firm’s quarterly revenue was up 18.2% on a year-over-year basis. On average, equities analysts predict that Matador Resources will post 7.14 EPS for the current year.

Institutional Investors Weigh In On Matador Resources

Institutional investors have recently modified their holdings of the stock. Parkside Financial Bank & Trust raised its stake in shares of Matador Resources by 82.0% in the 3rd quarter. Parkside Financial Bank & Trust now owns 444 shares of the energy company’s stock valued at $26,000 after purchasing an additional 200 shares in the last quarter. Oakworth Capital Inc. bought a new stake in shares of Matador Resources during the 4th quarter valued at about $31,000. Financial Management Professionals Inc. bought a new stake in shares of Matador Resources during the 4th quarter valued at about $34,000. Rise Advisors LLC bought a new stake in shares of Matador Resources during the 1st quarter valued at about $34,000. Finally, McGlone Suttner Wealth Management Inc. bought a new stake in shares of Matador Resources during the 4th quarter valued at about $35,000. 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.