Matador Resources’ (MTDR) “Buy” Rating Reiterated at Benchmark

Matador Resources (NYSE:MTDR)‘s stock had its “buy” rating reaffirmed by research analysts at Benchmark in a report issued on Wednesday, Benzinga reports. They currently have a $62.00 target price on the energy company’s stock. Benchmark’s target price indicates a potential upside of 23.98% from the company’s current price.

Several other equities research analysts have also issued reports on MTDR. BMO Capital Markets lifted their price target on Matador Resources from $75.00 to $78.00 and gave the stock an “outperform” rating in a research note on Friday, October 4th. Mizuho dropped their target price on Matador Resources from $85.00 to $74.00 and set an “outperform” rating for the company in a research report on Monday, September 16th. KeyCorp cut their target price on Matador Resources from $76.00 to $72.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. TD Cowen boosted their price objective on shares of Matador Resources from $85.00 to $87.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Finally, Truist Financial cut their price objective on shares of Matador Resources from $86.00 to $75.00 and set a “buy” rating for the company in a research note on Monday, September 30th. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $75.69.

Matador Resources Price Performance

Shares of MTDR stock traded down $0.32 during trading on Wednesday, hitting $50.01. The company had a trading volume of 1,639,532 shares, compared to its average volume of 1,503,871. The stock’s 50-day moving average is $53.03 and its two-hundred day moving average is $58.41. The stock has a market capitalization of $6.24 billion, a price-to-earnings ratio of 6.87 and a beta of 3.26. The company has a quick ratio of 0.82, a current ratio of 0.86 and a debt-to-equity ratio of 0.41. Matador Resources has a 52 week low of $47.15 and a 52 week high of $71.08.

Matador Resources (NYSE:MTDR) last issued its quarterly earnings results on Tuesday, October 22nd. The energy company reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.78 by $0.11. The firm had revenue of $770.20 million for the quarter, compared to analyst estimates of $836.69 million. Matador Resources had a net margin of 29.01% and a return on equity of 21.12%. The business’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.86 EPS. As a group, analysts predict that Matador Resources will post 7.4 EPS for the current fiscal year.

Insider Activity at Matador Resources

In other Matador Resources news, CEO Joseph Wm Foran purchased 2,000 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The stock was bought at an average price of $55.96 per share, with a total value of $111,920.00. Following the completion of the purchase, the chief executive officer now directly owns 35,251 shares of the company’s stock, valued at $1,972,645.96. The trade was a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, CEO Joseph Wm Foran acquired 2,000 shares of Matador Resources stock in a transaction on Friday, August 2nd. The shares were acquired at an average cost of $55.96 per share, with a total value of $111,920.00. Following the transaction, the chief executive officer now owns 35,251 shares in the company, valued at $1,972,645.96. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Robert Gaines Baty bought 500 shares of the company’s stock in a transaction dated Friday, September 13th. The stock was bought at an average cost of $50.58 per share, with a total value of $25,290.00. Following the completion of the transaction, the director now owns 67,617 shares in the company, valued at approximately $3,420,067.86. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders have acquired a total of 12,300 shares of company stock worth $634,615 in the last 90 days. Company insiders own 6.10% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Covestor Ltd boosted its position in shares of Matador Resources by 121.4% during the first quarter. Covestor Ltd now owns 414 shares of the energy company’s stock valued at $28,000 after purchasing an additional 227 shares in the last quarter. Denver PWM LLC bought a new stake in shares of Matador Resources during the 2nd quarter valued at $27,000. Advisors Asset Management Inc. grew its position in shares of Matador Resources by 191.8% in the 1st quarter. Advisors Asset Management Inc. now owns 709 shares of the energy company’s stock worth $47,000 after buying an additional 466 shares during the period. Quarry LP increased its stake in shares of Matador Resources by 47.5% in the 2nd quarter. Quarry LP now owns 779 shares of the energy company’s stock worth $46,000 after acquiring an additional 251 shares in the last quarter. Finally, Fidelis Capital Partners LLC purchased a new position in Matador Resources during the 1st quarter valued at about $73,000. 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.