Matador Resources’ (MTDR) Buy Rating Reiterated at Benchmark

Matador Resources (NYSE:MTDR)‘s stock had its “buy” rating reissued by research analysts at Benchmark in a report issued on Wednesday, Benzinga reports. They currently have a $62.00 target price on the energy company’s stock. Benchmark’s price target suggests a potential upside of 18.37% from the stock’s previous close.

Several other equities analysts have also recently weighed in on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $75.00 price target on shares of Matador Resources in a research note on Friday, September 27th. Stephens boosted their target price on shares of Matador Resources from $76.00 to $78.00 and gave the stock an “overweight” rating in a report on Monday. BMO Capital Markets increased their price target on shares of Matador Resources from $75.00 to $78.00 and gave the company an “outperform” rating in a research note on Friday, October 4th. JPMorgan Chase & Co. lowered their price objective on shares of Matador Resources from $83.00 to $76.00 and set an “overweight” rating on the stock in a research note on Thursday, September 12th. Finally, Truist Financial decreased their target price on Matador Resources from $86.00 to $75.00 and set a “buy” rating on the stock in a report on Monday, September 30th. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $75.31.

Matador Resources Stock Performance

Shares of MTDR stock opened at $52.38 on Wednesday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.82 and a current ratio of 0.86. The company has a market capitalization of $6.54 billion, a P/E ratio of 7.18 and a beta of 3.26. The company’s 50 day moving average price is $52.83 and its two-hundred day moving average price is $58.32. Matador Resources has a 52 week low of $47.15 and a 52 week high of $71.08.

Matador Resources (NYSE:MTDR) last issued its quarterly earnings results on Tuesday, October 22nd. The energy company reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.78 by $0.11. The company had revenue of $770.20 million during the quarter, compared to analysts’ expectations of $836.69 million. Matador Resources had a net margin of 29.01% and a return on equity of 21.12%. The business’s quarterly revenue was up 9.8% on a year-over-year basis. During the same period last year, the business earned $1.86 EPS. On average, analysts expect that Matador Resources will post 7.4 earnings per share for the current fiscal year.

Insider Transactions at Matador Resources

In other news, CEO Joseph Wm Foran bought 2,000 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The shares were acquired at an average price of $55.96 per share, for a total transaction of $111,920.00. Following the completion of the acquisition, the chief executive officer now directly owns 35,251 shares in the company, valued at approximately $1,972,645.96. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, Director Robert Gaines Baty acquired 500 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were purchased at an average price of $50.58 per share, for a total transaction of $25,290.00. Following the completion of the acquisition, the director now owns 67,617 shares of the company’s stock, valued at approximately $3,420,067.86. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Joseph Wm Foran acquired 2,000 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were bought at an average price of $55.96 per share, for a total transaction of $111,920.00. Following the acquisition, the chief executive officer now directly owns 35,251 shares of the company’s stock, valued at approximately $1,972,645.96. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 12,300 shares of company stock worth $634,615. Company insiders own 6.10% of the company’s stock.

Hedge Funds Weigh In On Matador Resources

Several institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in shares of Matador Resources by 0.9% during the first quarter. Vanguard Group Inc. now owns 11,124,705 shares of the energy company’s stock valued at $742,797,000 after purchasing an additional 103,713 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Matador Resources by 8.1% during the second quarter. Dimensional Fund Advisors LP now owns 4,734,819 shares of the energy company’s stock worth $282,196,000 after acquiring an additional 356,506 shares in the last quarter. Clearbridge Investments LLC increased its position in shares of Matador Resources by 10.5% during the second quarter. Clearbridge Investments LLC now owns 2,250,036 shares of the energy company’s stock worth $134,102,000 after acquiring an additional 214,334 shares in the last quarter. Wasatch Advisors LP increased its position in shares of Matador Resources by 7.3% during the first quarter. Wasatch Advisors LP now owns 1,176,802 shares of the energy company’s stock worth $78,575,000 after acquiring an additional 79,920 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its stake in Matador Resources by 5.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,104,791 shares of the energy company’s stock valued at $73,768,000 after buying an additional 53,322 shares during the last quarter. Institutional investors and hedge funds 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.