Matador Resources (NYSE:MTDR) Stock Price Expected to Rise, Truist Financial Analyst Says

Matador Resources (NYSE:MTDR) had its price objective 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 target price suggests a potential upside of 27.57% from the company’s previous close.

A number of other equities analysts have also recently weighed in on MTDR. Morgan Stanley started coverage on shares of Matador Resources in a research note on Friday, January 10th. They set an “equal weight” rating and a $78.00 price target on the stock. Stephens upped 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. Mizuho lowered their price target on shares of Matador Resources from $74.00 to $73.00 and set an “outperform” rating on the stock in a research note on Monday, December 16th. JPMorgan Chase & Co. lowered their price objective 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, Benchmark reissued a “buy” rating and issued a $62.00 price objective on shares of Matador Resources in a research note on Wednesday, October 23rd. Two investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Matador Resources currently has a consensus rating of “Moderate Buy” and an average price target of $75.14.

Matador Resources Stock Performance

NYSE:MTDR opened at $62.71 on Monday. 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 has a fifty-two week low of $47.15 and a fifty-two week high of $71.08. The stock has a market cap of $7.82 billion, a PE ratio of 8.31 and a beta of 3.24. The firm’s fifty day simple moving average is $57.34 and its 200-day simple moving average is $56.01.

Matador Resources (NYSE:MTDR) last posted its quarterly earnings results on Tuesday, October 22nd. The energy company reported $1.89 earnings per share for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $836.69 million. During the same period in the prior year, the company posted $1.86 EPS. The business’s revenue for the quarter was up 9.8% on a year-over-year basis. Analysts expect that Matador Resources will post 7.49 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Glenn W. Stetson acquired 1,000 shares of the business’s stock in a transaction dated Wednesday, October 30th. The shares were acquired at an average cost of $51.33 per share, for a total transaction of $51,330.00. Following the acquisition, the executive vice president now directly owns 85,935 shares in the company, valued at approximately $4,411,043.55. The trade was a 1.18 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP William Thomas Elsener acquired 800 shares of the business’s stock in a transaction dated Friday, December 13th. The shares were bought at an average price of $56.60 per share, for a total transaction of $45,280.00. Following the completion of the acquisition, the executive vice president now 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. Insiders have bought 4,285 shares of company stock valued at $232,849 in the last ninety days. Insiders own 6.10% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. ClearAlpha Technologies LP lifted its holdings in shares of Matador Resources by 4.3% during the 3rd quarter. ClearAlpha Technologies LP now owns 5,250 shares of the energy company’s stock worth $259,000 after acquiring an additional 218 shares during the period. Quarry LP lifted its position in Matador Resources by 47.5% during 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. Greenleaf Trust lifted its position in Matador Resources by 3.8% during the third quarter. Greenleaf Trust now owns 7,086 shares of the energy company’s stock valued at $350,000 after buying an additional 260 shares in the last quarter. Evergreen Capital Management LLC lifted its position in Matador Resources by 4.4% during the second quarter. Evergreen Capital Management LLC now owns 6,814 shares of the energy company’s stock valued at $406,000 after buying an additional 289 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its position in Matador Resources by 20.7% during the second quarter. EverSource Wealth Advisors LLC now owns 1,751 shares of the energy company’s stock valued at $108,000 after buying an additional 300 shares in the last quarter. 91.98% of the stock is currently owned by hedge funds and other institutional investors.

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.