Matador Resources (NYSE:MTDR) Upgraded at Wolfe Research

Matador Resources (NYSE:MTDR) was upgraded by analysts at Wolfe Research from a “peer perform” rating to an “outperform” rating in a report issued on Friday, Marketbeat.com reports. The firm currently has a $72.00 price target on the energy company’s stock. Wolfe Research’s price target would suggest a potential upside of 21.89% from the stock’s current price.

A number of other equities analysts also recently commented on the stock. Benchmark restated a “buy” rating and set a $62.00 price objective on shares of Matador Resources in a research note on Wednesday, October 23rd. Stephens increased their price target on Matador Resources from $78.00 to $80.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. Wells Fargo & Company boosted their price target on Matador Resources from $87.00 to $91.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. TD Cowen increased their price objective on Matador Resources from $74.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Finally, KeyCorp decreased their target price on shares of Matador Resources from $76.00 to $72.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. One equities research analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, Matador Resources has an average rating of “Moderate Buy” and a consensus target price of $74.21.

Matador Resources Stock Up 1.7 %

Shares of Matador Resources stock opened at $59.07 on Friday. Matador Resources has a 52-week low of $47.15 and a 52-week high of $71.08. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.84 and a current ratio of 0.88. The business’s 50 day simple moving average is $56.30 and its 200 day simple moving average is $55.95. The firm has a market cap of $7.37 billion, a PE ratio of 7.82 and a beta of 3.24.

Matador Resources (NYSE:MTDR) last posted its quarterly earnings data on Tuesday, October 22nd. The energy company reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.78 by $0.11. Matador Resources had a net margin of 27.45% and a return on equity of 20.01%. The company had revenue of $770.20 million for the quarter, compared to the consensus estimate of $836.69 million. During the same period last year, the company earned $1.86 earnings per share. The firm’s revenue was up 9.8% compared to the same quarter last year. On average, analysts predict that Matador Resources will post 7.49 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Matador Resources news, CEO Joseph Wm Foran bought 2,000 shares of Matador Resources stock in a transaction dated Friday, December 6th. The stock was bought at an average price of $55.18 per share, with a total value of $110,360.00. Following the completion of the transaction, the chief executive officer now owns 42,251 shares in the company, valued at $2,331,410.18. The trade was a 4.97 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Glenn W. Stetson purchased 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The stock was acquired at an average price of $51.33 per share, for a total transaction of $51,330.00. Following the completion of the purchase, the executive vice president now directly owns 85,935 shares of the company’s stock, valued at $4,411,043.55. This represents a 1.18 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 4,285 shares of company stock valued at $232,849. Company insiders own 6.10% of the company’s stock.

Institutional Trading of Matador Resources

A number of institutional investors have recently bought and sold shares of the business. CIBC Asset Management Inc lifted its position in shares of Matador Resources by 12.3% during the 2nd quarter. CIBC Asset Management Inc now owns 3,401 shares of the energy company’s stock valued at $203,000 after acquiring an additional 373 shares during the period. Denver PWM LLC bought a new stake in Matador Resources during the second quarter worth about $27,000. Arizona State Retirement System grew its stake in Matador Resources by 6.7% during the second quarter. Arizona State Retirement System now owns 33,185 shares of the energy company’s stock worth $1,978,000 after buying an additional 2,081 shares in the last quarter. Los Angeles Capital Management LLC bought a new position in Matador Resources in the 2nd quarter valued at about $18,747,000. Finally, LSV Asset Management raised its position in shares of Matador Resources by 54.4% in the 2nd quarter. LSV Asset Management now owns 359,800 shares of the energy company’s stock valued at $21,444,000 after buying an additional 126,700 shares in the last quarter. Institutional investors 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.