Matador Resources (NYSE:MTDR) Raised to Overweight at Capital One Financial

Matador Resources (NYSE:MTDR) was upgraded by equities researchers at Capital One Financial from an “equal weight” rating to an “overweight” rating in a research note issued to investors on Thursday, MarketBeat Ratings reports. The firm presently has a $84.00 target price on the energy company’s stock, up from their previous target price of $80.00. Capital One Financial‘s price target would indicate a potential upside of 36.72% from the stock’s previous close. Capital One Financial also issued estimates for Matador Resources’ Q3 2024 earnings at $1.94 EPS, FY2027 earnings at $9.08 EPS and FY2028 earnings at $9.48 EPS.

MTDR has been the topic of several other research reports. Mizuho raised their target price on shares of Matador Resources from $83.00 to $85.00 and gave the stock a “buy” rating in a report on Friday, June 14th. TD Cowen lifted their price objective on Matador Resources from $85.00 to $87.00 and gave the company a “buy” rating in a research report on Wednesday. Truist Financial reduced their target price on shares of Matador Resources from $91.00 to $86.00 and set a “buy” rating on the stock in a research report on Monday, July 22nd. KeyCorp upped their price target on Matador Resources from $71.00 to $76.00 and gave the stock an “overweight” rating in a research note on Monday, April 22nd. Finally, Benchmark restated a “buy” rating and set a $62.00 price objective on shares of Matador Resources in a research note on Wednesday. Two research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $78.08.

Matador Resources Stock Performance

NYSE:MTDR opened at $61.44 on Thursday. The business’s 50-day moving average price is $60.27 and its two-hundred day moving average price is $61.29. The stock has a market cap of $7.67 billion, a P/E ratio of 8.42 and a beta of 3.29. The company has a quick ratio of 0.84, a current ratio of 0.86 and a debt-to-equity ratio of 0.41. Matador Resources has a twelve month low of $51.72 and a twelve month high of $71.08.

Matador Resources (NYSE:MTDR) last released its earnings results on Tuesday, July 23rd. The energy company reported $2.05 earnings per share for the quarter, topping analysts’ consensus estimates of $1.76 by $0.29. The company had revenue of $847.14 million during the quarter, compared to the consensus estimate of $822.55 million. Matador Resources had a return on equity of 21.12% and a net margin of 29.01%. Matador Resources’s quarterly revenue was up 32.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.42 EPS. As a group, equities analysts predict that Matador Resources will post 7.74 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Bryan A. Erman acquired 1,750 shares of the stock in a transaction dated Friday, June 14th. The shares were purchased at an average cost of $55.90 per share, with a total value of $97,825.00. Following the transaction, the executive vice president now directly owns 1,750 shares in the company, valued at $97,825. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. 6.10% of the stock is owned by insiders.

Institutional Trading of Matador Resources

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Raymond James & Associates boosted its holdings in Matador Resources by 5.8% in the 4th quarter. Raymond James & Associates now owns 152,915 shares of the energy company’s stock worth $8,695,000 after buying an additional 8,324 shares during the period. Raymond James Financial Services Advisors Inc. lifted its position in shares of Matador Resources by 10.8% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 12,601 shares of the energy company’s stock valued at $716,000 after acquiring an additional 1,224 shares in the last quarter. McGlone Suttner Wealth Management Inc. bought a new position in shares of Matador Resources in the fourth quarter worth about $35,000. Fifth Third Bancorp boosted its stake in shares of Matador Resources by 40.3% in the fourth quarter. Fifth Third Bancorp now owns 1,987 shares of the energy company’s stock worth $113,000 after acquiring an additional 571 shares during the period. Finally, Spirit of America Management Corp NY purchased a new stake in shares of Matador Resources during the fourth quarter worth about $512,000. 91.98% of the stock is owned by hedge funds and other 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.