Matador Resources (NYSE:MTDR) Upgraded to “Buy” at Roth Mkm

Matador Resources (NYSE:MTDR) was upgraded by stock analysts at Roth Mkm from a “neutral” rating to a “buy” rating in a research note issued on Monday, MarketBeat.com reports. The firm currently has a $65.00 price target on the energy company’s stock. Roth Mkm’s target price would suggest a potential upside of 30.00% from the stock’s current price.

Several other equities analysts have also commented on the company. Mizuho upped their price target on Matador Resources from $74.00 to $77.00 and gave the company an “outperform” rating in a research note on Wednesday, May 27th. Truist Financial raised Matador Resources from a “hold” rating to a “buy” rating and raised their price objective for the stock from $60.00 to $67.00 in a research report on Tuesday, May 12th. Citigroup reduced their price objective on shares of Matador Resources from $77.00 to $72.00 and set a “buy” rating on the stock in a report on Tuesday, May 26th. Zacks Research cut shares of Matador Resources from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 25th. Finally, TD Cowen increased their target price on shares of Matador Resources from $60.00 to $65.00 and gave the stock a “buy” rating in a research note on Tuesday, March 17th. Eleven investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, Matador Resources presently has a consensus rating of “Moderate Buy” and an average price target of $65.08.

Matador Resources Trading Up 0.9%

MTDR traded up $0.44 during trading hours on Monday, reaching $50.00. The company’s stock had a trading volume of 86,948 shares, compared to its average volume of 1,836,538. Matador Resources has a fifty-two week low of $37.14 and a fifty-two week high of $66.84. The stock has a market cap of $6.21 billion, a PE ratio of 12.87 and a beta of 0.74. The business’s 50-day moving average is $56.84 and its 200-day moving average is $51.77. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.73 and a quick ratio of 0.70.

Matador Resources (NYSE:MTDR) last issued its quarterly earnings data on Wednesday, May 6th. The energy company reported $1.53 earnings per share for the quarter, topping the consensus estimate of $1.24 by $0.29. The company had revenue of $941.60 million during the quarter, compared to analyst estimates of $871.57 million. Matador Resources had a return on equity of 11.20% and a net margin of 14.41%.The firm’s revenue for the quarter was down 33.8% compared to the same quarter last year. During the same period in the prior year, the business posted $1.99 earnings per share. As a group, equities research analysts predict that Matador Resources will post 7.5 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Matador Resources news, CFO Christopher P. Calvert purchased 1,500 shares of the company’s stock in a transaction on Friday, May 29th. The stock was acquired at an average price of $53.24 per share, for a total transaction of $79,860.00. Following the completion of the purchase, the chief financial officer directly owned 41,500 shares in the company, valued at approximately $2,209,460. The trade was a 3.75% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Joseph Wm Foran acquired 2,000 shares of the business’s stock in a transaction dated Tuesday, June 9th. The shares were bought at an average cost of $53.07 per share, for a total transaction of $106,140.00. Following the transaction, the chief executive officer directly owned 11,479 shares of the company’s stock, valued at approximately $609,190.53. This trade represents a 21.10% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have acquired a total of 11,907 shares of company stock valued at $635,712 in the last ninety days. Company insiders own 5.90% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Altshuler Shaham Ltd increased its stake in shares of Matador Resources by 36.7% during the first quarter. Altshuler Shaham Ltd now owns 748 shares of the energy company’s stock worth $47,000 after buying an additional 201 shares during the period. Burford Brothers Inc. lifted its stake in Matador Resources by 0.8% in the first quarter. Burford Brothers Inc. now owns 26,798 shares of the energy company’s stock worth $1,693,000 after acquiring an additional 225 shares during the last quarter. Fiduciary Trust Co lifted its stake in Matador Resources by 2.2% in the third quarter. Fiduciary Trust Co now owns 11,821 shares of the energy company’s stock worth $531,000 after acquiring an additional 253 shares during the last quarter. O Shaughnessy Asset Management LLC grew its holdings in Matador Resources by 2.9% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 9,138 shares of the energy company’s stock worth $388,000 after acquiring an additional 254 shares in the last quarter. Finally, Verdence Capital Advisors LLC grew its holdings in Matador Resources by 3.5% during the 4th quarter. Verdence Capital Advisors LLC now owns 8,233 shares of the energy company’s stock worth $349,000 after acquiring an additional 278 shares in the last quarter. 91.98% of the stock is owned by institutional investors and hedge funds.

Matador Resources Company Profile

Matador Resources Company is an independent energy firm primarily engaged in the exploration, development and production of oil, natural gas liquids (NGLs) and natural gas. The company focuses on upstream operations, utilizing horizontal drilling and hydraulic fracturing techniques to unlock hydrocarbons from key reservoirs. Its asset base includes both operated and non‐operated positions, with a particular emphasis on the Permian Basin, one of the most prolific oil-producing regions in North America.

Matador’s core operations are concentrated in the Delaware Basin segment of the Permian Basin, where it holds substantial acreage in both Reeves and Culberson counties in West Texas and Eddy and Lea counties in New Mexico.