Matador Resources (NYSE:MTDR) Given New $50.00 Price Target at UBS Group

by · The Markets Daily

Matador Resources (NYSE:MTDR – Get Free Report) had its target price boosted by analysts at UBS Group from $46.00 to $50.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has a “neutral” rating on the energy company’s stock. UBS Group’s target price indicates a potential upside of 12.82% from the stock’s current price.

Other analysts also recently issued research reports about the company. Royal Bank Of Canada raised their price objective on Matador Resources from $60.00 to $62.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 8th. Bank of America reduced their target price on Matador Resources from $55.00 to $50.00 and set a “buy” rating for the company in a research report on Monday, November 3rd. Morgan Stanley lowered their price target on shares of Matador Resources from $62.00 to $61.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 14th. Citigroup assumed coverage on shares of Matador Resources in a research note on Monday. They issued a “buy” rating and a $53.00 price objective for the company. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Matador Resources in a research report on Tuesday, October 14th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, Matador Resources has an average rating of “Moderate Buy” and an average price target of $63.33.

View Our Latest Research Report on Matador Resources

Matador Resources Stock Performance

NYSE MTDR traded down $0.57 during midday trading on Friday, hitting $44.32. The company had a trading volume of 1,297,419 shares, compared to its average volume of 1,739,934. The firm has a fifty day simple moving average of $41.86 and a two-hundred day simple moving average of $46.11. Matador Resources has a fifty-two week low of $35.19 and a fifty-two week high of $64.04. The company has a quick ratio of 0.69, a current ratio of 0.73 and a debt-to-equity ratio of 0.55. The stock has a market cap of $5.51 billion, a price-to-earnings ratio of 7.08 and a beta of 1.11.

Matador Resources (NYSE:MTDR – Get Free Report) last announced its quarterly earnings data on Tuesday, October 21st. The energy company reported $1.36 EPS for the quarter, beating analysts’ consensus estimates of $1.22 by $0.14. Matador Resources had a net margin of 20.46% and a return on equity of 14.80%. The business had revenue of $939.02 million during the quarter, compared to analyst estimates of $893.22 million. During the same quarter in the prior year, the business earned $1.89 earnings per share. The firm’s revenue for the quarter was up 4.4% on a year-over-year basis. Equities analysts forecast that Matador Resources will post 8.53 earnings per share for the current fiscal year.

Insider Buying and Selling at Matador Resources

In other news, Director Shelley F. Appel acquired 1,389 shares of the firm’s stock in a transaction on Thursday, November 6th. The shares were purchased at an average cost of $38.01 per share, for a total transaction of $52,795.89. Following the transaction, the director owned 5,084 shares of the company’s stock, valued at approximately $193,242.84. This represents a 37.59% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Van H. Singleton II bought 1,000 shares of the stock in a transaction dated Monday, November 3rd. The stock was purchased at an average cost of $39.46 per share, with a total value of $39,460.00. Following the completion of the purchase, the insider directly owned 292,418 shares in the company, valued at approximately $11,538,814.28. This trade represents a 0.34% increase in their position. The SEC filing for this purchase provides additional information. Insiders purchased 37,346 shares of company stock valued at $1,463,396 over the last three months. Insiders own 5.80% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Swiss Life Asset Management Ltd acquired a new stake in shares of Matador Resources during the third quarter worth $243,000. CIBC Bancorp USA Inc. acquired a new position in Matador Resources in the third quarter valued at about $61,615,000. Tweedy Browne Co LLC boosted its holdings in Matador Resources by 105.3% during the third quarter. Tweedy Browne Co LLC now owns 15,489 shares of the energy company’s stock worth $696,000 after buying an additional 7,944 shares during the last quarter. Hancock Whitney Corp grew its position in shares of Matador Resources by 0.5% during the 3rd quarter. Hancock Whitney Corp now owns 60,150 shares of the energy company’s stock worth $2,703,000 after buying an additional 315 shares during the period. Finally, Armistice Capital LLC bought a new stake in shares of Matador Resources in the 3rd quarter valued at about $1,973,000. Institutional investors and hedge funds own 91.98% of the company’s stock.

About Matador Resources

(Get Free Report)

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.

See Also