Matador Resources (NYSE:MTDR) Price Target Lowered to $68.00 at Morgan Stanley

Matador Resources (NYSE:MTDR) had its price objective cut by stock analysts at Morgan Stanley from $84.00 to $68.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has an “equal weight” rating on the energy company’s stock. Morgan Stanley’s price objective suggests a potential upside of 34.76% from the stock’s current price.

Other equities research analysts also recently issued research reports about the stock. Stephens raised their price target on shares of Matador Resources from $78.00 to $80.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. Benchmark reissued a “buy” rating and issued a $62.00 target price on shares of Matador Resources in a report on Friday, January 17th. Wells Fargo & Company lowered their price target on Matador Resources from $90.00 to $87.00 and set an “overweight” rating on the stock in a report on Tuesday. Royal Bank of Canada restated an “outperform” rating and set a $70.00 target price on shares of Matador Resources in a research note on Wednesday, January 15th. Finally, Mizuho reduced their price target on shares of Matador Resources from $74.00 to $73.00 and set an “outperform” rating for the company in a research note on Monday, December 16th. One analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Matador Resources presently has an average rating of “Moderate Buy” and a consensus target price of $73.79.

Matador Resources Trading Down 2.0 %

Matador Resources stock opened at $50.46 on Thursday. Matador Resources has a 12 month low of $43.89 and a 12 month high of $71.08. The company has a current ratio of 0.93, a quick ratio of 0.84 and a debt-to-equity ratio of 0.61. The business’s fifty day simple moving average is $54.28 and its two-hundred day simple moving average is $54.84. The company has a market capitalization of $6.32 billion, a price-to-earnings ratio of 7.07 and a beta of 3.17.

Matador Resources (NYSE:MTDR) last announced its quarterly earnings results on Tuesday, February 18th. The energy company reported $1.83 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.88 by ($0.05). The firm had revenue of $970.37 million during the quarter, compared to the consensus estimate of $967.10 million. Matador Resources had a return on equity of 18.52% and a net margin of 25.26%. As a group, equities analysts predict that Matador Resources will post 8.53 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Van H. Singleton II bought 2,000 shares of the firm’s stock in a transaction on Friday, February 21st. The shares were bought at an average price of $53.21 per share, for a total transaction of $106,420.00. Following the purchase, the insider now owns 289,135 shares in the company, valued at approximately $15,384,873.35. The trade was a 0.70 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Paul W. Harvey purchased 600 shares of the company’s stock in a transaction on Friday, February 21st. The stock was purchased at an average price of $55.20 per share, with a total value of $33,120.00. Following the completion of the transaction, the director now owns 27,917 shares of the company’s stock, valued at approximately $1,541,018.40. This trade represents a 2.20 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired a total of 21,350 shares of company stock valued at $1,100,769 in the last 90 days. Company insiders own 6.10% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. LSV Asset Management raised its holdings in Matador Resources by 262.0% during the fourth quarter. LSV Asset Management now owns 1,517,308 shares of the energy company’s stock valued at $85,364,000 after acquiring an additional 1,098,108 shares during the period. Copeland Capital Management LLC raised its stake in Matador Resources by 145.2% during the 4th quarter. Copeland Capital Management LLC now owns 1,283,743 shares of the energy company’s stock valued at $72,223,000 after purchasing an additional 760,122 shares during the period. Webs Creek Capital Management LP purchased a new position in Matador Resources in the 4th quarter worth approximately $37,894,000. Yaupon Capital Management LP boosted its stake in Matador Resources by 565.4% in the 3rd quarter. Yaupon Capital Management LP now owns 744,037 shares of the energy company’s stock worth $36,770,000 after purchasing an additional 632,218 shares during the period. Finally, Alliancebernstein L.P. grew its holdings in Matador Resources by 25.9% during the 4th quarter. Alliancebernstein L.P. now owns 2,698,606 shares of the energy company’s stock valued at $151,824,000 after buying an additional 555,245 shares in the last quarter. Hedge funds and other institutional investors 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.