Morgan Stanley Forecasts Strong Price Appreciation for Matador Resources (NYSE:MTDR) Stock

Matador Resources (NYSE:MTDRGet Free Report) had its target price raised by investment analysts at Morgan Stanley from $73.00 to $75.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has an “equal weight” rating on the energy company’s stock. Morgan Stanley’s price objective suggests a potential upside of 33.19% from the company’s previous close.

Several other analysts have also issued reports on MTDR. Citigroup upped their price target on shares of Matador Resources from $62.00 to $77.00 and gave the company a “buy” rating in a research report on Tuesday, March 31st. Roth Mkm restated a “neutral” rating and set a $65.00 price target (up from $52.00) on shares of Matador Resources in a research report on Wednesday, April 8th. Weiss Ratings lowered shares of Matador Resources from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, May 12th. TD Cowen upped their price target on shares of Matador Resources from $60.00 to $65.00 and gave the company a “buy” rating in a research report on Tuesday, March 17th. Finally, KeyCorp upped their price target on shares of Matador Resources from $61.00 to $73.00 and gave the company an “overweight” rating in a research report on Thursday, April 2nd. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $65.23.

Read Our Latest Stock Report on MTDR

Matador Resources Trading Up 0.4%

NYSE MTDR traded up $0.22 during trading on Friday, hitting $56.31. 538,232 shares of the company’s stock traded hands, compared to its average volume of 1,870,342. The stock has a fifty day moving average of $59.67 and a two-hundred day moving average of $49.81. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.73 and a quick ratio of 0.70. Matador Resources has a 12-month low of $37.14 and a 12-month high of $66.84. The firm has a market cap of $6.99 billion, a P/E ratio of 14.46 and a beta of 0.81.

Matador Resources (NYSE:MTDRGet Free Report) last posted its quarterly earnings results on Wednesday, May 6th. The energy company reported $1.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.24 by $0.29. Matador Resources had a net margin of 14.41% and a return on equity of 11.20%. The business had revenue of $941.60 million during the quarter, compared to analyst estimates of $871.57 million. During the same period in the prior year, the business posted $1.99 earnings per share. The company’s revenue was down 33.8% on a year-over-year basis. As a group, sell-side analysts expect that Matador Resources will post 7.42 EPS for the current year.

Institutional Trading of Matador Resources

A number of institutional investors have recently modified their holdings of the company. Altshuler Shaham Ltd boosted its holdings in shares of Matador Resources by 36.7% during the first quarter. Altshuler Shaham Ltd now owns 748 shares of the energy company’s stock worth $47,000 after purchasing an additional 201 shares during the period. Burford Brothers Inc. boosted its holdings in shares of Matador Resources by 0.8% during the first quarter. Burford Brothers Inc. now owns 26,798 shares of the energy company’s stock worth $1,693,000 after purchasing an additional 225 shares during the period. Fiduciary Trust Co boosted its holdings in shares of Matador Resources by 2.2% during the third quarter. Fiduciary Trust Co now owns 11,821 shares of the energy company’s stock worth $531,000 after purchasing an additional 253 shares during the period. O Shaughnessy Asset Management LLC boosted its holdings in shares of Matador Resources by 2.9% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 9,138 shares of the energy company’s stock worth $388,000 after purchasing an additional 254 shares during the period. Finally, Verdence Capital Advisors LLC lifted its holdings in Matador Resources by 3.5% in the fourth quarter. Verdence Capital Advisors LLC now owns 8,233 shares of the energy company’s stock worth $349,000 after buying an additional 278 shares during the period. 91.98% of the stock is currently owned by hedge funds and other institutional investors.

Matador Resources News Roundup

Here are the key news stories impacting Matador Resources this week:

Matador Resources Company Profile

(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.

Further Reading

Analyst Recommendations for Matador Resources (NYSE:MTDR)

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