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

by · The Markets Daily

Matador Resources (NYSE:MTDR – Get Free Report) had its price objective lifted by research analysts at KeyCorp from $68.00 to $73.00 in a report released on Tuesday, Benzinga reports. The firm currently has an “overweight” rating on the energy company’s stock. KeyCorp’s target price would indicate a potential upside of 19.31% from the company’s previous close.

A number of other research analysts also recently issued reports on the company. Wall Street Zen upgraded Matador Resources from a “hold” rating to a “buy” rating in a report on Saturday, August 15th. Wells Fargo & Company raised Matador Resources from an “equal weight” rating to an “overweight” rating and dropped their price objective for the company from $79.00 to $77.00 in a research report on Wednesday, September 2nd. Seaport Research Partners started coverage on shares of Matador Resources in a report on Thursday, September 3rd. They issued a “neutral” rating for the company. Truist Financial decreased their price target on shares of Matador Resources from $63.00 to $59.00 and set a “buy” rating for the company in a research report on Monday, August 10th. Finally, Zacks Research downgraded shares of Matador Resources from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 25th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, Matador Resources presently has a consensus rating of “Moderate Buy” and an average target price of $66.80.

Read Our Latest Stock Report on Matador Resources

Matador Resources Price Performance

NYSE MTDR opened at $61.19 on Tuesday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.62 and a current ratio of 0.65. The firm’s 50 day moving average price is $54.25 and its 200-day moving average price is $55.69. Matador Resources has a 52-week low of $37.14 and a 52-week high of $66.84. The company has a market cap of $7.57 billion, a PE ratio of 10.50 and a beta of 0.79.

Matador Resources (NYSE:MTDR – Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The energy company reported $2.61 EPS for the quarter, topping analysts’ consensus estimates of $2.08 by $0.53. The company had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.06 billion. Matador Resources had a net margin of 19.85% and a return on equity of 13.18%. Matador Resources’s revenue for the quarter was up 32.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.53 earnings per share. Sell-side analysts forecast that Matador Resources will post 7.55 EPS for the current fiscal year.

Insider Buying and Selling at Matador Resources

In other Matador Resources news, EVP William Elsener bought 850 shares of the firm’s stock in a transaction that occurred on Monday, August 10th. The stock was bought at an average cost of $50.94 per share, for a total transaction of $43,299.00. Following the completion of the transaction, the executive vice president directly owned 114,879 shares of the company’s stock, valued at approximately $5,851,936.26. This trade represents a 0.75% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Joseph Foran bought 555 shares of the stock in a transaction dated Wednesday, August 26th. The stock was bought at an average price of $54.49 per share, for a total transaction of $30,241.95. Following the purchase, the chief executive officer directly owned 4,772 shares of the company’s stock, valued at approximately $260,026.28. The trade was a 13.16% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last 90 days, insiders have bought 23,144 shares of company stock worth $1,211,793. 5.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. V Square Quantitative Management LLC acquired a new stake in shares of Matador Resources during the first quarter valued at about $27,000. Center for Financial Planning Inc. purchased a new stake in Matador Resources during the first quarter worth about $41,000. Altshuler Shaham Ltd increased its stake in Matador Resources by 36.7% during the 1st quarter. Altshuler Shaham Ltd now owns 748 shares of the energy company’s stock worth $47,000 after buying an additional 201 shares during the period. Harbor Investment Advisory LLC acquired a new position in shares of Matador Resources in the second quarter worth $44,000. Finally, Integrated Wealth Concepts LLC acquired a new position in Matador Resources during the 2nd quarter worth $54,000. 91.98% of the stock is currently owned by hedge funds and other institutional investors.

About Matador Resources

(Get Free Report)

Matador Resources Company is an independent energy company engaged in the exploration, development, production and acquisition of oil, natural gas and natural gas liquids. The company focuses primarily on unconventional, horizontal drilling and development activities in the United States.

Matador’s principal operations are concentrated in the Delaware Basin, a sub-basin of the Permian Basin in southeastern New Mexico and West Texas. Its activities include drilling and completing wells, producing hydrocarbons, and managing mineral and leasehold interests associated with its development programs.

Through its midstream operations, including San Mateo Midstream, Matador also provides gathering, processing, transportation and water-handling services that support oil and natural gas production in the Delaware Basin.

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