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

Matador Resources (NYSE:MTDR) was upgraded by Wolfe Research from a “peer perform” rating to an “outperform” rating in a report issued 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 objective would indicate a potential upside of 23.97% from the company’s previous close.

Several other brokerages have also commented on MTDR. Wells Fargo & Company raised their price objective on Matador Resources from $87.00 to $91.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Benchmark reissued a “buy” rating and set a $62.00 price objective on shares of Matador Resources in a research note on Wednesday, October 23rd. Stephens upped their price objective on shares of Matador Resources from $78.00 to $80.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. BMO Capital Markets lifted their target price 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. Finally, Truist Financial reduced their price objective on Matador Resources from $86.00 to $75.00 and set a “buy” rating for the company in a research report on Monday, September 30th. One investment analyst has rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, Matador Resources has a consensus rating of “Moderate Buy” and an average price target of $74.21.

Matador Resources Trading Up 3.2 %

Shares of MTDR stock opened at $58.08 on Friday. The business has a 50-day moving average of $56.16 and a 200 day moving average of $55.94. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.88 and a quick ratio of 0.84. Matador Resources has a 1-year low of $47.15 and a 1-year high of $71.08. The stock has a market capitalization of $7.25 billion, a PE ratio of 7.69 and a beta of 3.26.

Matador Resources (NYSE:MTDR) last announced 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. The business had revenue of $770.20 million for the quarter, compared to analyst estimates of $836.69 million. Matador Resources had a net margin of 27.45% and a return on equity of 20.01%. The company’s revenue was up 9.8% on a year-over-year basis. During the same quarter last year, the firm earned $1.86 EPS. As a group, sell-side analysts anticipate that Matador Resources will post 7.49 earnings per share for the current year.

Insiders Place Their Bets

In other news, EVP William Thomas Elsener purchased 800 shares of the stock in a transaction that occurred on Friday, December 13th. The stock was purchased 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 of the company’s stock, valued at approximately $5,827,762.40. This trade represents a 0.78 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Glenn W. Stetson bought 1,000 shares of the firm’s stock in a transaction on Wednesday, October 30th. The shares were purchased at an average cost of $51.33 per share, with a total value of $51,330.00. Following the completion of the transaction, the executive vice president now owns 85,935 shares in the company, valued at $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 acquired a total of 4,285 shares of company stock worth $232,849 over the last quarter. Company insiders own 6.10% of the company’s stock.

Hedge Funds Weigh In On Matador Resources

A number of large investors have recently bought and sold shares of MTDR. GAMMA Investing LLC boosted its position in Matador Resources by 34.6% during the fourth quarter. GAMMA Investing LLC now owns 1,889 shares of the energy company’s stock valued at $106,000 after purchasing an additional 486 shares in the last quarter. Denver PWM LLC grew its position in shares of Matador Resources by 67.2% in the 3rd quarter. Denver PWM LLC now owns 754 shares of the energy company’s stock worth $37,000 after buying an additional 303 shares during the last quarter. American Trust raised its stake in shares of Matador Resources by 60.9% during the 3rd quarter. American Trust now owns 5,630 shares of the energy company’s stock worth $278,000 after acquiring an additional 2,130 shares in the last quarter. Franklin Resources Inc. lifted its position in Matador Resources by 12.0% during the third quarter. Franklin Resources Inc. now owns 1,008,421 shares of the energy company’s stock valued at $54,122,000 after acquiring an additional 107,827 shares during the last quarter. Finally, Synovus Financial Corp boosted its stake in Matador Resources by 32.1% in the third quarter. Synovus Financial Corp now owns 22,753 shares of the energy company’s stock valued at $1,124,000 after acquiring an additional 5,529 shares in the last quarter. Institutional investors own 91.98% of the company’s stock.

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.