Matador Resources (NYSE:MTDR) Given “Buy” Rating at Benchmark

Benchmark reissued their buy rating on shares of Matador Resources (NYSE:MTDR) in a research report report published on Friday,Benzinga reports. Benchmark currently has a $62.00 target price on the energy company’s stock.

MTDR has been the topic of several other research reports. Wells Fargo & Company boosted their target price on Matador Resources from $87.00 to $91.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. TD Cowen increased their target price on shares of Matador Resources from $74.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Stephens lifted their price target on shares of Matador Resources from $78.00 to $80.00 and gave the stock an “overweight” rating in a research note on Friday, December 6th. BMO Capital Markets increased 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. Finally, Morgan Stanley started coverage on Matador Resources in a research report on Friday, January 10th. They set an “equal weight” rating and a $78.00 target price for the company. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $75.14.

Matador Resources Price Performance

MTDR stock opened at $63.83 on Friday. Matador Resources has a 52 week low of $47.15 and a 52 week high of $71.08. The firm has a market capitalization of $7.96 billion, a P/E ratio of 8.45 and a beta of 3.24. The company has a fifty day simple moving average of $57.94 and a two-hundred day simple moving average of $56.16. 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 (NYSE:MTDR) last announced its quarterly earnings results on Tuesday, October 22nd. The energy company reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.78 by $0.11. Matador Resources had a net margin of 27.45% and a return on equity of 20.01%. The firm had revenue of $770.20 million during the quarter, compared to the consensus estimate of $836.69 million. During the same quarter last year, the firm earned $1.86 EPS. The firm’s revenue for the quarter was up 9.8% compared to the same quarter last year. Analysts anticipate that Matador Resources will post 7.46 earnings per share for the current fiscal year.

Insider Activity

In other Matador Resources news, CEO Joseph Wm Foran acquired 2,000 shares of Matador Resources stock in a transaction that occurred on Friday, December 6th. The stock was bought at an average price of $55.18 per share, with a total value of $110,360.00. Following the completion of the purchase, the chief executive officer now directly owns 42,251 shares of the company’s stock, valued at approximately $2,331,410.18. This represents a 4.97 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Glenn W. Stetson bought 1,000 shares of the company’s stock in a transaction on Wednesday, October 30th. The shares were bought at an average cost of $51.33 per share, for a total transaction of $51,330.00. Following the transaction, the executive vice president now directly owns 85,935 shares in the company, valued at approximately $4,411,043.55. This represents a 1.18 % increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 4,285 shares of company stock worth $232,849. Company insiders own 6.10% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Franklin Resources Inc. grew its stake in Matador Resources by 12.0% in the third quarter. Franklin Resources Inc. now owns 1,008,421 shares of the energy company’s stock valued at $54,122,000 after purchasing an additional 107,827 shares during the last quarter. Loomis Sayles & Co. L P boosted its holdings in shares of Matador Resources by 16.8% in the 3rd quarter. Loomis Sayles & Co. L P now owns 455,662 shares of the energy company’s stock valued at $22,519,000 after buying an additional 65,487 shares in the last quarter. Stifel Financial Corp grew its position in shares of Matador Resources by 81.2% in the 3rd quarter. Stifel Financial Corp now owns 30,304 shares of the energy company’s stock worth $1,498,000 after buying an additional 13,583 shares during the last quarter. HITE Hedge Asset Management LLC bought a new position in shares of Matador Resources during the 3rd quarter worth approximately $10,526,000. Finally, Dynamic Technology Lab Private Ltd lifted its position in Matador Resources by 194.0% during the third quarter. Dynamic Technology Lab Private Ltd now owns 16,534 shares of the energy company’s stock valued at $817,000 after acquiring an additional 10,910 shares during the last quarter. 91.98% of the stock is 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.