Matador Resources (NYSE:MTDR) Upgraded at Wolfe Research

Matador Resources (NYSE:MTDR) was upgraded by equities researchers at Wolfe Research from a “peer perform” rating to an “outperform” rating in a report released on Friday,Briefing.com Automated Import reports. The firm currently has a $72.00 price objective on the energy company’s stock. Wolfe Research’s price target suggests a potential upside of 23.97% from the company’s current price.

Other research analysts have also issued reports about the company. Benchmark reissued a “buy” rating and issued a $62.00 price objective on shares of Matador Resources in a report on Wednesday, October 23rd. Royal Bank of Canada reissued an “outperform” rating and set a $70.00 price target on shares of Matador Resources in a research report on Friday, December 6th. BMO Capital Markets upped their price objective on shares of Matador Resources from $75.00 to $78.00 and gave the company an “outperform” rating in a report on Friday, October 4th. Wells Fargo & Company boosted their target price on shares of Matador Resources from $87.00 to $91.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Finally, Mizuho cut their price target on Matador Resources from $74.00 to $73.00 and set an “outperform” rating on the stock in a research report on Monday, December 16th. One analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $74.21.

Matador Resources Stock Performance

MTDR opened at $58.08 on Friday. The firm’s 50-day moving average price is $56.16 and its 200-day moving average price is $55.94. The company has a market cap of $7.25 billion, a P/E ratio of 7.69 and a beta of 3.26. 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 52-week low of $47.15 and a 52-week high of $71.08.

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

Insider Buying and Selling at Matador Resources

In other Matador Resources news, CEO Joseph Wm Foran bought 2,000 shares of the stock in a transaction on Friday, December 6th. The shares were 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. This trade represents a 4.97 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Glenn W. Stetson bought 1,000 shares of the company’s stock in a transaction dated Wednesday, October 30th. The shares were acquired at an average cost of $51.33 per share, with a total value of $51,330.00. Following the acquisition, the executive vice president now directly owns 85,935 shares of the company’s stock, valued at approximately $4,411,043.55. This represents a 1.18 % 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 over the last ninety days. Corporate insiders own 6.10% of the company’s stock.

Institutional Trading of Matador Resources

Several large investors have recently bought and sold shares of the business. ClearAlpha Technologies LP grew its holdings in Matador Resources by 4.3% in the 3rd quarter. ClearAlpha Technologies LP now owns 5,250 shares of the energy company’s stock valued at $259,000 after buying an additional 218 shares in the last quarter. Quarry LP grew its holdings in shares of 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 purchasing an additional 251 shares during the period. Greenleaf Trust grew its holdings in shares of Matador Resources by 3.8% in the third quarter. Greenleaf Trust now owns 7,086 shares of the energy company’s stock valued at $350,000 after purchasing an additional 260 shares during the period. Evergreen Capital Management LLC increased 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 worth $406,000 after purchasing an additional 289 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its stake 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 worth $108,000 after purchasing an additional 300 shares during the period. Hedge funds and other institutional investors 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.