Matador Resources (NYSE:MTDR) Stock Price Expected to Rise, Stephens Analyst Says

Matador Resources (NYSE:MTDR) had its price target upped by stock analysts at Stephens from $78.00 to $80.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the energy company’s stock. Stephens’ price objective suggests a potential upside of 37.67% from the company’s previous close.

A number of other research firms have also weighed in on MTDR. Mizuho reduced their price objective on shares of Matador Resources from $85.00 to $74.00 and set an “outperform” rating for the company in a research note on Monday, September 16th. Benchmark reiterated a “buy” rating and issued a $62.00 price target on shares of Matador Resources in a research report on Wednesday, October 23rd. KeyCorp dropped their price objective on Matador Resources from $76.00 to $72.00 and set an “overweight” rating on the stock in a report on Wednesday, October 16th. Truist Financial decreased their price target on Matador Resources from $86.00 to $75.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $70.00 price objective on shares of Matador Resources in a research report on Thursday, October 24th. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $75.08.

Matador Resources Price Performance

Matador Resources stock opened at $58.11 on Friday. The business’s 50 day simple moving average is $54.89 and its 200 day simple moving average is $56.58. Matador Resources has a 12 month low of $47.15 and a 12 month high of $71.08. The company has a market cap of $7.25 billion, a price-to-earnings ratio of 7.70 and a beta of 3.26. The company has a current ratio of 0.88, a quick ratio of 0.84 and a debt-to-equity ratio of 0.71.

Matador Resources (NYSE:MTDR) last announced its quarterly earnings data on Tuesday, October 22nd. The energy company reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.78 by $0.11. The business had revenue of $770.20 million for the quarter, compared to analysts’ expectations of $836.69 million. Matador Resources had a return on equity of 20.01% and a net margin of 27.45%. The firm’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same period in the previous year, the business posted $1.86 EPS. Sell-side analysts forecast that Matador Resources will post 7.5 EPS for the current year.

Insider Buying and Selling

In other news, CEO Joseph Wm Foran bought 2,500 shares of the business’s stock in a transaction on Monday, September 9th. The stock was acquired at an average price of $49.97 per share, with a total value of $124,925.00. Following the completion of the purchase, the chief executive officer now directly owns 40,251 shares in the company, valued at $2,011,342.47. This represents a 6.62 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, COO Christopher P. Calvert purchased 1,000 shares of the firm’s stock in a transaction on Monday, September 9th. The shares were acquired at an average cost of $50.30 per share, for a total transaction of $50,300.00. Following the completion of the purchase, the chief operating officer now directly owns 32,700 shares of the company’s stock, valued at approximately $1,644,810. This represents a 3.15 % increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 5,605 shares of company stock worth $282,406. Corporate insiders own 6.10% of the company’s stock.

Institutional Investors Weigh In On Matador Resources

Hedge funds and other institutional investors have recently modified their holdings of the stock. Loomis Sayles & Co. L P increased its stake in 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 worth $22,519,000 after purchasing an additional 65,487 shares during the period. Amalgamated Bank boosted its position in Matador Resources by 25.5% during the 2nd quarter. Amalgamated Bank now owns 73,025 shares of the energy company’s stock valued at $4,352,000 after buying an additional 14,850 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Matador Resources by 4.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,434,926 shares of the energy company’s stock worth $70,914,000 after acquiring an additional 57,254 shares during the last quarter. Dynamic Technology Lab Private Ltd increased its position in shares of Matador Resources by 194.0% in 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 period. Finally, American Century Companies Inc. increased its position in shares of Matador Resources by 2.9% in the second quarter. American Century Companies Inc. now owns 561,671 shares of the energy company’s stock valued at $33,476,000 after acquiring an additional 15,835 shares during the period. 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.