Matador Resources (NYSE:MTDR) Price Target Raised to $80.00

Matador Resources (NYSE:MTDR) had its price target raised by Truist Financial from $75.00 to $80.00 in a report released on Monday,Benzinga reports. Truist Financial currently has a buy rating on the energy company’s stock.

Other analysts have also issued reports about the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $70.00 price objective on shares of Matador Resources in a research note on Friday, December 6th. 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 research report on Wednesday, October 16th. Mizuho dropped their price objective on shares of Matador Resources from $74.00 to $73.00 and set an “outperform” rating on the stock in a research note on Monday, December 16th. Wolfe Research raised shares of Matador Resources from a “peer perform” rating to an “outperform” rating and set a $72.00 price objective for the company in a research note on Friday, January 3rd. Finally, BMO Capital Markets increased their target price on Matador Resources from $75.00 to $78.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. Two equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, Matador Resources currently has an average rating of “Moderate Buy” and a consensus price target of $75.14.

Matador Resources Stock Performance

Shares of NYSE:MTDR opened at $63.45 on Monday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.84 and a current ratio of 0.88. The firm has a market cap of $7.92 billion, a PE ratio of 8.40 and a beta of 3.24. The firm’s 50 day simple moving average is $57.66 and its 200-day simple moving average is $56.08. Matador Resources has a one year low of $47.15 and a one year high of $71.08.

Matador Resources (NYSE:MTDR) last released its quarterly earnings data on Tuesday, October 22nd. The energy company reported $1.89 EPS for the quarter, topping the consensus estimate of $1.78 by $0.11. Matador Resources had a return on equity of 20.01% and a net margin of 27.45%. The company had revenue of $770.20 million for the quarter, compared to the consensus estimate of $836.69 million. During the same period last year, the business posted $1.86 EPS. Matador Resources’s quarterly revenue was up 9.8% on a year-over-year basis. As a group, equities analysts predict that Matador Resources will post 7.46 EPS for the current year.

Insider Buying and Selling at Matador Resources

In related news, EVP William Thomas Elsener purchased 800 shares of the business’s stock in a transaction on Friday, December 13th. The shares were acquired at an average price of $56.60 per share, for a total transaction of $45,280.00. Following the purchase, the executive vice president now owns 102,964 shares of the company’s stock, valued at $5,827,762.40. This trade represents a 0.78 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Joseph Wm Foran purchased 2,000 shares of the firm’s stock in a transaction on Friday, December 6th. The stock was bought at an average cost of $55.18 per share, with a total value of $110,360.00. Following the acquisition, the chief executive officer now owns 42,251 shares of the company’s stock, valued at approximately $2,331,410.18. The trade was a 4.97 % increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 4,285 shares of company stock worth $232,849. 6.10% of the stock is owned by insiders.

Institutional Trading of Matador Resources

Several large investors have recently added to or reduced their stakes in MTDR. ClearAlpha Technologies LP raised its stake in shares of Matador Resources by 4.3% in the third quarter. ClearAlpha Technologies LP now owns 5,250 shares of the energy company’s stock worth $259,000 after purchasing an additional 218 shares during the last quarter. Quarry LP increased its holdings in Matador Resources by 47.5% in the 2nd quarter. Quarry LP now owns 779 shares of the energy company’s stock worth $46,000 after buying an additional 251 shares during the period. Greenleaf Trust raised its position in Matador Resources by 3.8% during the 3rd quarter. Greenleaf Trust now owns 7,086 shares of the energy company’s stock worth $350,000 after buying an additional 260 shares during the last quarter. Evergreen Capital Management LLC lifted its stake in Matador Resources by 4.4% during the 2nd quarter. Evergreen Capital Management LLC now owns 6,814 shares of the energy company’s stock valued at $406,000 after acquiring an additional 289 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of Matador Resources by 20.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,751 shares of the energy company’s stock valued at $108,000 after acquiring an additional 300 shares during the last quarter. Hedge funds and other institutional investors own 91.98% of the company’s stock.

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.