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

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

Several other brokerages have also commented on MTDR. KeyCorp decreased their target price on shares of Matador Resources from $76.00 to $72.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 16th. Benchmark restated a “buy” rating and set a $62.00 target price on shares of Matador Resources in a research report on Wednesday, October 23rd. Mizuho decreased their target price on shares of Matador Resources from $74.00 to $73.00 and set an “outperform” rating on the stock in a research report on Monday, December 16th. TD Cowen boosted their price objective on shares of Matador Resources from $74.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Finally, BMO Capital Markets boosted their price objective on shares of Matador Resources from $75.00 to $78.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $75.14.

Matador Resources Stock Performance

MTDR traded up $1.24 during trading on Monday, hitting $62.49. The stock had a trading volume of 127,788 shares, compared to its average volume of 1,025,514. 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 capitalization of $7.80 billion, a P/E ratio of 8.28 and a beta of 3.24. The company’s 50-day moving average price is $57.16 and its 200 day moving average price is $55.99. Matador Resources has a twelve month low of $47.15 and a twelve month high of $71.08.

Matador Resources (NYSE:MTDR) last issued its earnings results on Tuesday, October 22nd. The energy company reported $1.89 EPS for the quarter, topping the consensus estimate of $1.78 by $0.11. The company had revenue of $770.20 million for the quarter, compared to analyst estimates of $836.69 million. Matador Resources had a net margin of 27.45% and a return on equity of 20.01%. The business’s revenue was up 9.8% on a year-over-year basis. During the same period in the previous year, the firm earned $1.86 EPS. On average, equities research analysts forecast that Matador Resources will post 7.49 EPS for the current fiscal year.

Insider Buying and Selling at Matador Resources

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

Institutional Inflows and Outflows

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