Matador Resources (NYSE:MTDR) Price Target Raised to $78.00

Matador Resources (NYSE:MTDR) had its target price increased by investment analysts at Stephens from $76.00 to $78.00 in a research note issued on Monday, Benzinga reports. The brokerage currently has an “overweight” rating on the energy company’s stock. Stephens’ price target indicates a potential upside of 52.46% from the company’s previous close.

Other analysts also recently issued research reports about the stock. KeyCorp lowered their price target on shares of Matador Resources from $76.00 to $72.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th. Truist Financial decreased 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 report on Monday, September 30th. Wells Fargo & Company dropped their target price on shares of Matador Resources from $89.00 to $87.00 and set an “overweight” rating on the stock in a report on Tuesday, October 1st. Capital One Financial upgraded Matador Resources from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $80.00 to $84.00 in a report on Thursday, July 25th. Finally, Mizuho decreased their target price on Matador Resources from $85.00 to $74.00 and set an “outperform” rating for the company in a research note on Monday, September 16th. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, Matador Resources currently has an average rating of “Moderate Buy” and an average price target of $75.69.

Matador Resources Trading Down 0.7 %

Shares of NYSE:MTDR traded down $0.38 during mid-day trading on Monday, reaching $51.16. 230,596 shares of the company’s stock were exchanged, compared to its average volume of 1,496,324. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.82 and a current ratio of 0.86. Matador Resources has a twelve month low of $47.15 and a twelve month high of $71.08. The firm has a market capitalization of $6.38 billion, a price-to-earnings ratio of 7.01 and a beta of 3.26. The business’s fifty day moving average price is $53.24 and its 200-day moving average price is $58.68.

Matador Resources (NYSE:MTDR) last announced its earnings results on Tuesday, July 23rd. The energy company reported $2.05 EPS for the quarter, topping the consensus estimate of $1.76 by $0.29. Matador Resources had a return on equity of 21.12% and a net margin of 29.01%. The firm had revenue of $847.14 million for the quarter, compared to the consensus estimate of $822.55 million. During the same period in the previous year, the business earned $1.42 EPS. The business’s quarterly revenue was up 32.8% compared to the same quarter last year. On average, research analysts predict that Matador Resources will post 7.4 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Robert Gaines Baty purchased 500 shares of Matador Resources stock in a transaction dated Friday, September 13th. The stock was purchased at an average cost of $50.58 per share, for a total transaction of $25,290.00. Following the transaction, the director now directly owns 67,617 shares of the company’s stock, valued at approximately $3,420,067.86. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, Director Robert Gaines Baty purchased 500 shares of the firm’s stock in a transaction dated Friday, September 13th. The shares were purchased at an average price of $50.58 per share, with a total value of $25,290.00. Following the acquisition, the director now directly owns 67,617 shares of the company’s stock, valued at approximately $3,420,067.86. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Bryan A. Erman acquired 1,000 shares of the company’s stock in a transaction dated Friday, September 6th. The shares were bought at an average cost of $50.35 per share, with a total value of $50,350.00. Following the completion of the acquisition, the executive vice president now directly owns 2,750 shares in the company, valued at $138,462.50. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 12,300 shares of company stock valued at $634,615. Company insiders own 6.10% of the company’s stock.

Hedge Funds Weigh In On Matador Resources

Institutional investors have recently modified their holdings of the company. Janney Montgomery Scott LLC purchased a new stake in Matador Resources in the first quarter worth approximately $828,000. Prevail Innovative Wealth Advisors LLC boosted its stake in shares of Matador Resources by 28.6% in the 1st quarter. Prevail Innovative Wealth Advisors LLC now owns 37,163 shares of the energy company’s stock valued at $2,481,000 after purchasing an additional 8,254 shares in the last quarter. Capstone Investment Advisors LLC grew its holdings in shares of Matador Resources by 1,029.1% during the 1st quarter. Capstone Investment Advisors LLC now owns 76,032 shares of the energy company’s stock valued at $5,077,000 after purchasing an additional 69,298 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in Matador Resources by 5.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,104,791 shares of the energy company’s stock worth $73,768,000 after purchasing an additional 53,322 shares during the period. Finally, Vanguard Group Inc. lifted its stake in Matador Resources by 0.9% in the first quarter. Vanguard Group Inc. now owns 11,124,705 shares of the energy company’s stock worth $742,797,000 after purchasing an additional 103,713 shares during the last quarter. 91.98% of the stock is currently owned by institutional investors.

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.