Stifel Nicolaus Begins Coverage on Matador Resources (NYSE:MTDR)

by · The Markets Daily

Equities research analysts at Stifel Nicolaus initiated coverage on shares of Matador Resources (NYSE:MTDR – Get Free Report) in a research note issued on Thursday. The firm set a “buy” rating and a $66.00 price target on the energy company’s stock. Stifel Nicolaus’ price objective indicates a potential upside of 7.47% from the stock’s previous close.

Several other research analysts have also recently issued reports on MTDR. Roth Capital raised shares of Matador Resources from a “neutral” rating to a “buy” rating and set a $65.00 target price for the company in a report on Monday, June 22nd. Mizuho raised shares of Matador Resources to a “strong-buy” rating in a report on Friday, July 31st. Wells Fargo & Company raised Matador Resources from an “equal weight” rating to an “overweight” rating and cut their price target for the stock from $79.00 to $77.00 in a research report on Wednesday, September 2nd. KeyCorp reduced their price objective on Matador Resources from $73.00 to $68.00 and set an “overweight” rating for the company in a research note on Thursday, August 13th. Finally, Zacks Research cut Matador Resources from a “strong-buy” rating to a “hold” rating in a report on Monday, May 25th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $65.93.

Check Out Our Latest Stock Report on MTDR

Matador Resources Stock Performance

NYSE MTDR traded up $0.73 during trading hours on Thursday, reaching $61.41. The stock had a trading volume of 78,776 shares, compared to its average volume of 1,884,003. The stock has a fifty day moving average of $53.57 and a 200 day moving average of $55.48. The stock has a market cap of $7.60 billion, a P/E ratio of 10.54 and a beta of 0.79. Matador Resources has a 52-week low of $37.14 and a 52-week high of $66.84. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.62 and a current ratio of 0.65.

Matador Resources (NYSE:MTDR – Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The energy company reported $2.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.08 by $0.53. Matador Resources had a net margin of 19.85% and a return on equity of 13.18%. The company had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.06 billion. During the same period last year, the firm posted $1.53 EPS. Matador Resources’s revenue for the quarter was up 32.5% compared to the same quarter last year. Sell-side analysts predict that Matador Resources will post 7.51 earnings per share for the current year.

Insider Buying and Selling

In other news, CFO Christopher P. Calvert acquired 2,500 shares of the firm’s stock in a transaction on Thursday, August 27th. The stock was acquired at an average price of $56.64 per share, for a total transaction of $141,600.00. Following the completion of the transaction, the chief financial officer owned 44,000 shares in the company, valued at approximately $2,492,160. The trade was a 6.02% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP William Elsener bought 850 shares of the stock in a transaction dated Monday, August 10th. The shares were purchased at an average cost of $50.94 per share, for a total transaction of $43,299.00. Following the completion of the purchase, the executive vice president owned 114,879 shares in the company, valued at approximately $5,851,936.26. This represents a 0.75% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders have bought 23,144 shares of company stock valued at $1,211,793. Corporate insiders own 5.90% of the company’s stock.

Hedge Funds Weigh In On Matador Resources

Several institutional investors and hedge funds have recently modified their holdings of the business. Kestra Investment Management LLC raised its holdings in Matador Resources by 225.2% in the 2nd quarter. Kestra Investment Management LLC now owns 517 shares of the energy company’s stock worth $25,000 after purchasing an additional 358 shares during the period. V Square Quantitative Management LLC acquired a new stake in Matador Resources in the first quarter valued at approximately $27,000. Measured Wealth Private Client Group LLC acquired a new stake in Matador Resources in the third quarter valued at approximately $35,000. Center for Financial Planning Inc. purchased a new stake in shares of Matador Resources in the first quarter valued at approximately $41,000. Finally, Gilpin Wealth Management LLC purchased a new stake in shares of Matador Resources in the fourth quarter valued at approximately $42,000. Hedge funds and other institutional investors own 91.98% of the company’s stock.

About Matador Resources

(Get Free Report)

Matador Resources Company is an independent energy firm primarily engaged in the exploration, development and production of oil, natural gas liquids (NGLs) and natural gas. The company focuses on upstream operations, utilizing horizontal drilling and hydraulic fracturing techniques to unlock hydrocarbons from key reservoirs. Its asset base includes both operated and non‐operated positions, with a particular emphasis on the Permian Basin, one of the most prolific oil-producing regions in North America.

Matador’s core operations are concentrated in the Delaware Basin segment of the Permian Basin, where it holds substantial acreage in both Reeves and Culberson counties in West Texas and Eddy and Lea counties in New Mexico.

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