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

Matador Resources (NYSE:MTDR) had its target price dropped by equities researchers at Benchmark from $71.00 to $62.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the energy company’s stock. Benchmark’s target price would suggest a potential downside of 5.04% from the stock’s previous close.

Several other brokerages have also issued reports on MTDR. Wells Fargo & Company lifted their price target on Matador Resources from $76.00 to $85.00 and gave the company an “overweight” rating in a report on Thursday, April 18th. KeyCorp boosted their target price on shares of Matador Resources from $71.00 to $76.00 and gave the stock an “overweight” rating in a research report on Monday. Roth Mkm restated a “buy” rating and set a $66.00 price target on shares of Matador Resources in a research note on Monday, March 25th. Mizuho lifted their price objective on shares of Matador Resources from $67.00 to $76.00 and gave the company a “buy” rating in a research note on Monday, April 1st. Finally, Raymond James decreased their price objective on shares of Matador Resources from $76.00 to $70.00 and set an “outperform” rating for the company in a report on Monday, January 8th. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, Matador Resources presently has a consensus rating of “Moderate Buy” and an average price target of $74.10.

Matador Resources Stock Performance

Shares of MTDR opened at $65.29 on Tuesday. Matador Resources has a 52 week low of $42.04 and a 52 week high of $71.08. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.98 and a current ratio of 1.04. The company has a market capitalization of $7.80 billion, a PE ratio of 9.26 and a beta of 3.32. The company’s 50 day moving average price is $65.07 and its 200 day moving average price is $60.12.

Matador Resources (NYSE:MTDR) last posted its quarterly earnings results on Tuesday, April 23rd. The energy company reported $1.71 earnings per share for the quarter, topping analysts’ consensus estimates of $1.39 by $0.32. The business had revenue of $787.70 million for the quarter, compared to the consensus estimate of $740.99 million. Matador Resources had a net margin of 30.14% and a return on equity of 21.54%. Matador Resources’s revenue for the quarter was up 40.6% compared to the same quarter last year. During the same period in the prior year, the business posted $1.50 earnings per share. Research analysts expect that Matador Resources will post 7.17 EPS for the current fiscal year.

Institutional Trading of Matador Resources

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Parkside Financial Bank & Trust boosted its position in shares of Matador Resources by 82.0% in the third quarter. Parkside Financial Bank & Trust now owns 444 shares of the energy company’s stock valued at $26,000 after acquiring an additional 200 shares during the period. Rise Advisors LLC bought a new stake in Matador Resources in the 1st quarter valued at $34,000. Oakworth Capital Inc. acquired a new stake in Matador Resources in the 4th quarter worth $31,000. Financial Management Professionals Inc. bought a new position in shares of Matador Resources during the 4th quarter worth about $34,000. Finally, McGlone Suttner Wealth Management Inc. bought a new position in shares of Matador Resources during the 4th quarter worth about $35,000. Institutional investors and hedge funds own 91.98% of the company’s stock.

About Matador Resources

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.