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

Matador Resources (NYSE:MTDR) had its price target lifted by analysts at Truist Financial from $75.00 to $80.00 in a report issued on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the energy company’s stock. Truist Financial’s price target points to a potential upside of 28.02% from the stock’s previous close.

Several other research analysts have also commented on the stock. Stephens raised their price objective on shares of Matador Resources from $78.00 to $80.00 and gave the company an “overweight” rating in a research note on Friday, December 6th. Mizuho lowered their price objective on shares of Matador Resources from $74.00 to $73.00 and set an “outperform” rating for the company in a research note on Monday, December 16th. Morgan Stanley assumed coverage on shares of Matador Resources in a research note on Friday. They issued an “equal weight” rating and a $78.00 price objective for the company. KeyCorp lowered their price objective on shares of Matador Resources from $76.00 to $72.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. Finally, TD Cowen raised their price objective on shares of Matador Resources from $74.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $75.14.

Matador Resources Trading Up 2.0 %

Shares of MTDR traded up $1.24 during trading on Monday, reaching $62.49. 127,788 shares of the company traded hands, compared to its average volume of 1,025,514. Matador Resources has a twelve month low of $47.15 and a twelve month high of $71.08. The stock has a market cap of $7.80 billion, a PE ratio of 8.28 and a beta of 3.24. The stock has a 50-day simple moving average of $57.16 and a 200-day simple moving average of $55.99. The company has a quick ratio of 0.84, a current ratio of 0.88 and a debt-to-equity ratio of 0.71.

Matador Resources (NYSE:MTDR) last announced its quarterly earnings results on Tuesday, October 22nd. The energy company reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.78 by $0.11. Matador Resources had a net margin of 27.45% and a return on equity of 20.01%. The business had revenue of $770.20 million during the quarter, compared to analysts’ expectations of $836.69 million. During the same period last year, the business earned $1.86 earnings per share. The business’s revenue for the quarter was up 9.8% on a year-over-year basis. On average, analysts anticipate that Matador Resources will post 7.49 earnings per share for the current year.

Insiders Place Their Bets

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

Hedge Funds Weigh In On Matador Resources

Institutional investors have recently modified their holdings of the business. True Wealth Design LLC acquired a new position in shares of Matador Resources in the 3rd quarter valued at $37,000. Denver PWM LLC increased its holdings in shares of Matador Resources by 67.2% in the 3rd quarter. Denver PWM LLC now owns 754 shares of the energy company’s stock valued at $37,000 after acquiring an additional 303 shares during the period. Quarry LP increased its holdings in shares of Matador Resources by 47.5% in the 2nd quarter. Quarry LP now owns 779 shares of the energy company’s stock valued at $46,000 after acquiring an additional 251 shares during the period. Avior Wealth Management LLC increased its stake in Matador Resources by 329.0% in the 3rd quarter. Avior Wealth Management LLC now owns 828 shares of the energy company’s stock valued at $41,000 after buying an additional 635 shares during the period. Finally, Covestor Ltd increased its stake in Matador Resources by 154.8% in the 3rd quarter. Covestor Ltd now owns 1,060 shares of the energy company’s stock valued at $52,000 after buying an additional 644 shares during the period. 91.98% of the stock is owned by institutional investors and hedge funds.

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.