Matador Resources (NYSE:MTDR) Stock Price Expected to Rise, UBS Group Analyst Says

Matador Resources (NYSE:MTDR) had its price target upped by investment analysts at UBS Group from $54.00 to $56.00 in a report issued on Monday,Benzinga reports. The brokerage presently has a “neutral” rating on the energy company’s stock. UBS Group’s target price indicates a potential upside of 7.38% from the company’s current price.

Several other equities research analysts have also recently weighed in on MTDR. Stephens increased their price target on Matador Resources from $92.00 to $93.00 and gave the company an “overweight” rating in a research note on Tuesday, July 28th. Mizuho upgraded Matador Resources to a “strong-buy” rating in a report on Friday, July 31st. Zacks Research downgraded Matador Resources from a “strong-buy” rating to a “hold” rating in a report on Monday, May 25th. Wells Fargo & Company lifted their price objective on shares of Matador Resources from $54.00 to $63.00 and gave the company an “equal weight” rating in a research note on Thursday, April 16th. Finally, Roth Capital raised shares of Matador Resources from a “neutral” rating to a “buy” rating and set a $65.00 price target for the company in a research note on Monday, June 22nd. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $65.86.

Matador Resources Price Performance

NYSE MTDR traded up $3.09 during trading on Monday, hitting $52.15. 2,465,093 shares of the company’s stock were exchanged, compared to its average volume of 1,890,071. The company has a market cap of $6.48 billion, a PE ratio of 8.95 and a beta of 0.76. The company has a current ratio of 0.65, a quick ratio of 0.62 and a debt-to-equity ratio of 0.67. The stock’s 50 day moving average price is $51.44 and its two-hundred day moving average price is $53.71. Matador Resources has a fifty-two week low of $37.14 and a fifty-two week high of $66.84.

Matador Resources (NYSE:MTDR) last announced its quarterly earnings results on Wednesday, August 5th. The energy company reported $2.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.08 by $0.53. Matador Resources had a net margin of 19.85% and a return on equity of 13.18%. The company had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.06 billion. During the same period in the prior year, the business earned $1.53 earnings per share. The company’s revenue for the quarter was up 32.5% compared to the same quarter last year. Research analysts expect that Matador Resources will post 6.98 EPS for the current year.

Insiders Place Their Bets

In other Matador Resources news, COO Glenn W. Stetson acquired 500 shares of Matador Resources stock in a transaction on Tuesday, June 9th. The stock was purchased at an average price of $53.41 per share, for a total transaction of $26,705.00. Following the purchase, the chief operating officer directly owned 95,470 shares of the company’s stock, valued at $5,099,052.70. This trade represents a 0.53% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Christopher P. Calvert purchased 1,500 shares of the business’s stock in a transaction that occurred on Friday, May 29th. The stock was bought at an average cost of $53.24 per share, for a total transaction of $79,860.00. Following the completion of the acquisition, the chief financial officer directly owned 41,500 shares in the company, valued at $2,209,460. The trade was a 3.75% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders have acquired 11,907 shares of company stock valued at $635,712. Insiders own 5.90% of the company’s stock.

Hedge Funds Weigh In On Matador Resources

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Morningstar Investment Management LLC bought a new stake in shares of Matador Resources during the 1st quarter worth $2,630,000. Peterson Wealth Services boosted its stake in Matador Resources by 333.7% in the fourth quarter. Peterson Wealth Services now owns 51,356 shares of the energy company’s stock worth $2,180,000 after buying an additional 39,516 shares in the last quarter. Thrivent Financial for Lutherans grew its position in Matador Resources by 2.1% during the fourth quarter. Thrivent Financial for Lutherans now owns 1,054,232 shares of the energy company’s stock valued at $44,742,000 after acquiring an additional 21,630 shares during the last quarter. Copeland Capital Management LLC lifted its holdings in shares of Matador Resources by 19.6% in the 4th quarter. Copeland Capital Management LLC now owns 1,426,505 shares of the energy company’s stock worth $60,541,000 after acquiring an additional 233,423 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH grew its holdings in shares of Matador Resources by 17.9% during the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 233,212 shares of the energy company’s stock valued at $9,898,000 after purchasing an additional 35,366 shares during the last quarter. Institutional investors own 91.98% of the company’s stock.

About Matador Resources

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.