StockNews.com Lowers Matador Resources (NYSE:MTDR) to Sell

Posted by on Jun 23rd, 2023

Matador Resources (NYSE:MTDR – Get Rating) was downgraded by equities researchers at StockNews.com from a “hold” rating to a “sell” rating in a research report issued on Friday.

Other research analysts have also issued reports about the company. JPMorgan Chase & Co. lifted their target price on Matador Resources from $73.00 to $74.00 and gave the stock an “overweight” rating in a report on Friday, April 14th. KeyCorp lowered their target price on Matador Resources from $73.00 to $67.00 in a research note on Monday, February 27th. Benchmark cut their target price on shares of Matador Resources from $75.00 to $71.00 in a research report on Tuesday, April 18th. Raymond James upped their price target on shares of Matador Resources from $57.00 to $61.00 and gave the stock an “outperform” rating in a research note on Friday, April 21st. Finally, Mizuho reduced their price objective on Matador Resources from $72.00 to $66.00 in a research report on Friday, March 10th. One analyst has rated the stock with a sell rating, one has given a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, Matador Resources presently has a consensus rating of “Moderate Buy” and a consensus target price of $70.56.

Matador Resources Trading Down 2.3 %

Shares of MTDR stock opened at $49.01 on Friday. The firm’s 50 day moving average price is $47.53 and its two-hundred day moving average price is $53.06. The company has a quick ratio of 1.64, a current ratio of 1.67 and a debt-to-equity ratio of 0.34. Matador Resources has a fifty-two week low of $41.17 and a fifty-two week high of $73.78. The stock has a market cap of $5.84 billion, a price-to-earnings ratio of 5.02 and a beta of 3.56.

Matador Resources (NYSE:MTDR – Get Rating) last issued its quarterly earnings results on Tuesday, April 25th. The energy company reported $1.50 EPS for the quarter, topping the consensus estimate of $1.24 by $0.26. The business had revenue of $502.90 million for the quarter, compared to analysts’ expectations of $514.24 million. Matador Resources had a net margin of 38.33% and a return on equity of 37.11%. The company’s quarterly revenue was down 19.7% compared to the same quarter last year. During the same quarter last year, the company posted $2.32 earnings per share. On average, analysts anticipate that Matador Resources will post 6.75 EPS for the current year.

Insider Activity

In other Matador Resources news, CEO Joseph Wm Foran acquired 2,000 shares of the business’s stock in a transaction on Thursday, May 4th. The stock was purchased at an average price of $42.40 per share, for a total transaction of $84,800.00. Following the transaction, the chief executive officer now owns 175,468 shares in the company, valued at approximately $7,439,843.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last quarter, insiders have bought 2,877 shares of company stock worth $124,560. Corporate insiders own 5.60% of the company’s stock.

Hedge Funds Weigh In On Matador Resources

Large investors have recently modified their holdings of the stock. Invesco Ltd. lifted its holdings in Matador Resources by 82.9% in the first quarter. Invesco Ltd. now owns 4,367,715 shares of the energy company’s stock valued at $231,403,000 after buying an additional 1,979,904 shares during the period. GW&K Investment Management LLC grew its stake in shares of Matador Resources by 57.9% during the first quarter. GW&K Investment Management LLC now owns 2,097,915 shares of the energy company’s stock worth $99,966,000 after purchasing an additional 769,130 shares during the period. Goldman Sachs Group Inc. lifted its stake in Matador Resources by 51.6% in the second quarter. Goldman Sachs Group Inc. now owns 2,013,942 shares of the energy company’s stock valued at $93,830,000 after buying an additional 685,220 shares during the period. Neuberger Berman Group LLC boosted its holdings in Matador Resources by 38.4% during the third quarter. Neuberger Berman Group LLC now owns 2,294,629 shares of the energy company’s stock worth $112,253,000 after buying an additional 636,431 shares during the last quarter. Finally, Vanguard Group Inc. grew its position in shares of Matador Resources by 4.8% during the 1st quarter. Vanguard Group Inc. now owns 12,422,915 shares of the energy company’s stock worth $658,165,000 after buying an additional 567,557 shares during the period. 85.29% of the stock is currently owned by institutional investors and hedge funds.

About Matador Resources

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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.

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