Wolfe Research Upgrades Matador Resources (NYSE:MTDR) to “Outperform”

Matador Resources (NYSE:MTDR) was upgraded by equities researchers at Wolfe Research from a “peer perform” rating to an “outperform” rating in a report issued on Friday, MarketBeat.com reports. The firm presently has a $72.00 price target on the energy company’s stock. Wolfe Research’s price target suggests a potential upside of 21.89% from the stock’s previous close.

Other analysts have also issued research reports about the company. Royal Bank of Canada reissued an “outperform” rating and set a $70.00 price objective on shares of Matador Resources in a report on Friday, December 6th. Stephens lifted their price target on shares of Matador Resources from $78.00 to $80.00 and gave the stock an “overweight” rating in a research note on Friday, December 6th. KeyCorp dropped 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. JPMorgan Chase & Co. lowered their target price on shares of Matador Resources from $77.00 to $71.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 30th. Finally, TD Cowen increased their price target 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. One equities research analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $74.21.

Matador Resources Trading Up 1.7 %

Shares of MTDR stock opened at $59.07 on Friday. The firm has a market capitalization of $7.37 billion, a P/E ratio of 7.82 and a beta of 3.24. Matador Resources has a 1 year low of $47.15 and a 1 year high of $71.08. The firm’s fifty day simple moving average is $56.30 and its 200 day simple moving average is $55.95. 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 EPS 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 analyst estimates of $836.69 million. During the same quarter in the prior year, the business earned $1.86 earnings per share. The firm’s revenue for the quarter was up 9.8% on a year-over-year basis. As a group, sell-side analysts predict that Matador Resources will post 7.49 EPS for the current year.

Insiders Place Their Bets

In other news, EVP William Thomas Elsener acquired 800 shares of Matador Resources stock in a transaction on Friday, December 13th. The shares were purchased at an average price of $56.60 per share, with a total value of $45,280.00. Following the acquisition, the executive vice president now owns 102,964 shares in the company, valued at $5,827,762.40. This represents a 0.78 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Joseph Wm Foran acquired 2,000 shares of the stock in a transaction that occurred on Friday, December 6th. The stock was purchased at an average price of $55.18 per share, with a total value of $110,360.00. Following the completion of the transaction, the chief executive officer now owns 42,251 shares of the company’s stock, valued at approximately $2,331,410.18. This trade represents a 4.97 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased a total of 4,285 shares of company stock valued at $232,849 in the last 90 days. 6.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Matador Resources

A number of institutional investors have recently made changes to their positions in MTDR. Denver PWM LLC bought a new position in shares of Matador Resources during the 2nd quarter valued at about $27,000. True Wealth Design LLC acquired a new stake in Matador Resources during the 3rd quarter worth approximately $37,000. Quarry LP lifted its stake in Matador Resources by 47.5% in the second quarter. Quarry LP now owns 779 shares of the energy company’s stock valued at $46,000 after buying an additional 251 shares in the last quarter. Avior Wealth Management LLC boosted its holdings in shares of Matador Resources by 329.0% in the third 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 position in shares of Matador Resources by 154.8% during the third quarter. Covestor Ltd now owns 1,060 shares of the energy company’s stock worth $52,000 after acquiring an additional 644 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, 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.