Matador Resources (NYSE:MTDR) Given New $80.00 Price Target at Stephens

Matador Resources (NYSE:MTDR) had its price objective hoisted by analysts at Stephens from $78.00 to $80.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has an “overweight” rating on the energy company’s stock. Stephens’ price target indicates a potential upside of 37.67% from the company’s current price.

MTDR has been the subject of several other research reports. KeyCorp decreased their price target on Matador Resources from $76.00 to $72.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. Royal Bank of Canada reissued an “outperform” rating and set a $70.00 target price on shares of Matador Resources in a research report on Thursday, October 24th. Benchmark restated a “buy” rating and issued a $62.00 price target on shares of Matador Resources in a research report on Wednesday, October 23rd. Wells Fargo & Company decreased their price objective on shares of Matador Resources from $89.00 to $87.00 and set an “overweight” rating for the company in a research report on Tuesday, October 1st. Finally, Mizuho dropped their target price on shares of Matador Resources from $85.00 to $74.00 and set an “outperform” rating on the stock in a report on Monday, September 16th. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $75.08.

Matador Resources Stock Performance

NYSE:MTDR opened at $58.11 on Friday. The stock’s 50-day moving average is $54.89 and its 200-day moving average is $56.58. The stock has a market cap of $7.25 billion, a P/E ratio of 7.70 and a beta of 3.26. Matador Resources has a 1-year low of $47.15 and a 1-year high of $71.08. The company has a current ratio of 0.88, a quick ratio of 0.84 and a debt-to-equity ratio of 0.71.

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, beating the consensus estimate of $1.78 by $0.11. The firm had revenue of $770.20 million during the quarter, compared to analysts’ expectations 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 period in the prior year, the company posted $1.86 EPS. Equities research analysts anticipate that Matador Resources will post 7.5 earnings per share for the current year.

Insider Buying and Selling at Matador Resources

In related news, EVP Glenn W. Stetson acquired 1,000 shares of the stock in a transaction dated Wednesday, October 30th. The stock was purchased at an average cost of $51.33 per share, with a total value of $51,330.00. Following the completion of the purchase, the executive vice president now directly owns 85,935 shares in the company, valued at $4,411,043.55. This trade represents a 1.18 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robert Gaines Baty bought 500 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The shares were bought at an average cost of $50.58 per share, for a total transaction of $25,290.00. Following the transaction, the director now owns 67,617 shares of the company’s stock, valued at $3,420,067.86. The trade was a 0.74 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders bought 5,605 shares of company stock valued at $282,406. Company insiders own 6.10% of the company’s stock.

Hedge Funds Weigh In On Matador Resources

Several large investors have recently bought and sold shares of the stock. Denver PWM LLC lifted its position in shares of Matador Resources by 67.2% during the third quarter. Denver PWM LLC now owns 754 shares of the energy company’s stock valued at $37,000 after purchasing an additional 303 shares in the last quarter. American Trust increased its stake in Matador Resources by 60.9% in the 3rd quarter. American Trust now owns 5,630 shares of the energy company’s stock valued at $278,000 after buying an additional 2,130 shares during the last quarter. Franklin Resources Inc. lifted its position in shares of Matador Resources by 12.0% during the 3rd quarter. Franklin Resources Inc. now owns 1,008,421 shares of the energy company’s stock worth $54,122,000 after buying an additional 107,827 shares in the last quarter. Synovus Financial Corp boosted its stake in shares of Matador Resources by 32.1% in the 3rd quarter. Synovus Financial Corp now owns 22,753 shares of the energy company’s stock worth $1,124,000 after buying an additional 5,529 shares during the last quarter. Finally, Tidal Investments LLC purchased a new stake in shares of Matador Resources during the third quarter valued at approximately $423,000. 91.98% of the stock is currently owned by institutional investors.

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.