Matador Resources (NYSE:MTDR) Upgraded to “Overweight” at Capital One Financial

Capital One Financial upgraded shares of Matador Resources (NYSE:MTDR) from an equal weight rating to an overweight rating in a research report sent to investors on Friday morning, BenzingaRatingsTable reports. Capital One Financial currently has $22.00 price objective on the energy company’s stock, up from their prior price objective of $17.00.

Several other brokerages have also issued reports on MTDR. Stephens raised shares of Matador Resources from an equal weight rating to an overweight rating and lifted their price objective for the company from $22.00 to $24.00 in a report on Tuesday, July 23rd. ValuEngine raised shares of Matador Resources from a sell rating to a hold rating in a report on Wednesday. Stifel Nicolaus set a $22.00 price objective on shares of Matador Resources and gave the company a buy rating in a report on Monday, September 30th. Wells Fargo & Co set a $33.00 price objective on shares of Matador Resources and gave the company a hold rating in a report on Thursday, July 11th. Finally, JPMorgan Chase & Co. raised shares of Matador Resources from a neutral rating to an overweight rating and cut their price objective for the company from $28.00 to $26.00 in a report on Friday, June 7th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the stock. The company has a consensus rating of Buy and a consensus target price of $27.77.

Shares of NYSE:MTDR traded up $0.06 during trading on Friday, reaching $15.61. 2,170,229 shares of the company were exchanged, compared to its average volume of 2,502,226. The firm has a market capitalization of $1.82 billion, a PE ratio of 9.64, a P/E/G ratio of 0.84 and a beta of 2.00. The business’s fifty day simple moving average is $15.95 and its 200-day simple moving average is $17.90. Matador Resources has a 12-month low of $13.42 and a 12-month high of $34.22. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.81 and a quick ratio of 0.75.

Matador Resources (NYSE:MTDR) last issued its quarterly earnings data on Wednesday, July 31st. The energy company reported $0.30 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.19 by $0.11. The company had revenue of $241.70 million for the quarter, compared to analyst estimates of $210.42 million. Matador Resources had a net margin of 19.10% and a return on equity of 8.71%. Matador Resources’s revenue was up 14.3% compared to the same quarter last year. During the same period last year, the company posted $0.41 earnings per share. On average, sell-side analysts anticipate that Matador Resources will post 1.07 EPS for the current fiscal year.

In other news, Director Timothy E. Parker purchased 3,584 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were acquired at an average cost of $13.94 per share, with a total value of $49,960.96. Following the completion of the acquisition, the director now owns 24,151 shares of the company’s stock, valued at $336,664.94. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Chairman Joseph Wm Foran purchased 8,000 shares of the business’s stock in a transaction on Monday, August 5th. The stock was purchased at an average cost of $15.05 per share, for a total transaction of $120,400.00. The disclosure for this purchase can be found here. Insiders acquired 28,734 shares of company stock worth $419,588 over the last ninety days. Corporate insiders own 6.90% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Nuveen Asset Management LLC lifted its stake in shares of Matador Resources by 6,195.1% during the second quarter. Nuveen Asset Management LLC now owns 3,321,049 shares of the energy company’s stock worth $66,022,000 after buying an additional 3,268,293 shares during the period. Earnest Partners LLC acquired a new stake in shares of Matador Resources during the second quarter worth $64,808,000. Invesco Ltd. lifted its stake in shares of Matador Resources by 236.5% during the second quarter. Invesco Ltd. now owns 3,362,728 shares of the energy company’s stock worth $66,850,000 after buying an additional 2,363,259 shares during the period. Victory Capital Management Inc. lifted its stake in shares of Matador Resources by 71.1% during the second quarter. Victory Capital Management Inc. now owns 1,892,662 shares of the energy company’s stock worth $37,627,000 after buying an additional 786,687 shares during the period. Finally, Balyasny Asset Management LLC acquired a new stake in shares of Matador Resources during the second quarter worth $14,898,000. 95.15% of the stock is currently owned by institutional investors and hedge funds.

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 in 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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Analyst Recommendations for Matador Resources (NYSE:MTDR)

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