JPMorgan Chase & Co. Cuts Matador Resources (NYSE:MTDR) Price Target to $71.00

Matador Resources (NYSE:MTDR) had its target price reduced by equities research analysts at JPMorgan Chase & Co. from $77.00 to $71.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm presently has an “overweight” rating on the energy company’s stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 37.86% from the company’s previous close.

A number of other equities analysts also recently weighed in on MTDR. Benchmark reissued a “buy” rating and set a $62.00 price target on shares of Matador Resources in a research report on Wednesday, October 23rd. Capital One Financial upgraded Matador Resources from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $80.00 to $84.00 in a research note on Thursday, July 25th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $70.00 price objective on shares of Matador Resources in a research report on Thursday, October 24th. Stephens raised their target price on shares of Matador Resources from $76.00 to $78.00 and gave the stock an “overweight” rating in a research note on Monday, October 21st. Finally, BMO Capital Markets raised their price objective on shares of Matador Resources from $75.00 to $78.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $74.92.

Matador Resources Stock Up 2.0 %

MTDR traded up $1.01 during trading hours on Wednesday, hitting $51.50. 371,299 shares of the company’s stock were exchanged, compared to its average volume of 1,531,021. The company has a quick ratio of 0.84, a current ratio of 0.88 and a debt-to-equity ratio of 0.71. Matador Resources has a 1-year low of $47.15 and a 1-year high of $71.08. The stock’s 50-day moving average is $52.50 and its two-hundred day moving average is $57.78. The stock has a market cap of $6.43 billion, a price-to-earnings ratio of 6.83 and a beta of 3.26.

Matador Resources (NYSE:MTDR) last announced its quarterly earnings data on Tuesday, October 22nd. The energy company reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.78 by $0.11. The company had revenue of $770.20 million during the quarter, compared to analysts’ expectations of $836.69 million. Matador Resources had a return on equity of 20.01% and a net margin of 27.45%. Matador Resources’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same quarter last year, the company earned $1.86 EPS. Sell-side analysts predict that Matador Resources will post 7.42 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Joseph Wm Foran bought 2,500 shares of the firm’s stock in a transaction on Monday, September 9th. The stock was acquired at an average price of $49.97 per share, with a total value of $124,925.00. Following the transaction, the chief executive officer now owns 40,251 shares of the company’s stock, valued at $2,011,342.47. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Matador Resources news, CEO Joseph Wm Foran bought 2,500 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The stock was acquired at an average price of $49.97 per share, with a total value of $124,925.00. Following the completion of the purchase, the chief executive officer now directly owns 40,251 shares of the company’s stock, valued at approximately $2,011,342.47. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Robert T. Macalik acquired 500 shares of the firm’s stock in a transaction on Friday, September 6th. The shares were bought at an average cost of $50.25 per share, with a total value of $25,125.00. Following the completion of the acquisition, the chief accounting officer now directly owns 29,800 shares in the company, valued at approximately $1,497,450. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 12,300 shares of company stock valued at $634,615. 6.10% of the stock is currently owned by company insiders.

Institutional Trading of Matador Resources

Several hedge funds have recently made changes to their positions in MTDR. Boston Trust Walden Corp purchased a new stake in shares of Matador Resources during the 3rd quarter valued at approximately $51,788,000. Element Capital Management LLC bought a new position in shares of Matador Resources during the 1st quarter valued at $28,572,000. Dimensional Fund Advisors LP grew its holdings in shares of Matador Resources by 8.1% in the second quarter. Dimensional Fund Advisors LP now owns 4,734,819 shares of the energy company’s stock worth $282,196,000 after purchasing an additional 356,506 shares during the last quarter. Los Angeles Capital Management LLC acquired a new position in shares of Matador Resources in the 2nd quarter valued at $18,747,000. Finally, Yaupon Capital Management LP purchased a new stake in shares of Matador Resources during the first quarter worth about $17,874,000. 91.98% of the stock is currently owned by institutional investors.

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.