Matador Resources (NYSE:MTDR) Given New $93.00 Price Target at Stephens

Matador Resources (NYSE:MTDR) had its price objective raised by analysts at Stephens from $92.00 to $93.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the energy company’s stock. Stephens’ target price would indicate a potential upside of 97.52% from the company’s current price.

MTDR has been the subject of a number of other reports. Weiss Ratings cut Matador Resources from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, May 12th. Mizuho upped their target price on shares of Matador Resources from $74.00 to $77.00 and gave the company an “outperform” rating in a research note on Wednesday, May 27th. Morgan Stanley decreased their price target on shares of Matador Resources from $75.00 to $66.00 and set an “equal weight” rating for the company in a report on Monday, June 29th. Truist Financial decreased their target price on Matador Resources from $67.00 to $63.00 and set a “buy” rating for the company in a research note on Thursday, July 16th. Finally, Roth Capital upgraded Matador Resources from a “neutral” rating to a “buy” rating and set a $65.00 price objective for the company in a research report on Monday, June 22nd. Twelve research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, Matador Resources presently has a consensus rating of “Moderate Buy” and an average target price of $66.00.

Matador Resources Stock Performance

MTDR stock opened at $47.08 on Tuesday. The stock has a market capitalization of $5.85 billion, a PE ratio of 12.10 and a beta of 0.74. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.73 and a quick ratio of 0.70. The company has a 50 day moving average price of $52.82 and a 200 day moving average price of $53.32. Matador Resources has a fifty-two week low of $37.14 and a fifty-two week high of $66.84.

Matador Resources (NYSE:MTDR) last issued 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 return on equity of 11.20% and a net margin of 14.41%.The business had revenue of $941.60 million for the quarter, compared to analyst estimates of $871.57 million. During the same quarter in the prior year, the firm posted $1.99 earnings per share. The firm’s revenue for the quarter was down 33.8% compared to the same quarter last year. Analysts forecast that Matador Resources will post 6.83 EPS for the current year.

Insider Activity at Matador Resources

In related news, COO Glenn W. Stetson purchased 500 shares of the stock in a transaction on Tuesday, June 9th. The shares were purchased at an average price of $53.41 per share, with a total value of $26,705.00. Following the transaction, the chief operating officer directly owned 95,470 shares of the company’s stock, valued at $5,099,052.70. This trade represents a 0.53% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Joseph Wm Foran bought 4,675 shares of the firm’s stock in a transaction that occurred on Wednesday, May 27th. The stock was purchased at an average cost of $52.36 per share, with a total value of $244,783.00. Following the completion of the purchase, the chief executive officer directly owned 6,997 shares of the company’s stock, valued at $366,362.92. This represents a 201.34% increase in their position. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders purchased 11,907 shares of company stock valued at $635,712. Insiders own 5.90% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. GAMMA Investing LLC lifted its stake in shares of Matador Resources by 21.6% during the 2nd quarter. GAMMA Investing LLC now owns 3,099 shares of the energy company’s stock worth $154,000 after buying an additional 551 shares during the last quarter. Harbor Investment Advisory LLC bought a new position in Matador Resources during the 2nd quarter worth $44,000. Moody National Bank Trust Division boosted its position in shares of Matador Resources by 17.9% in the second quarter. Moody National Bank Trust Division now owns 5,264 shares of the energy company’s stock valued at $262,000 after acquiring an additional 800 shares during the period. Carlson Capital L.P. grew its stake in shares of Matador Resources by 73.1% in the first quarter. Carlson Capital L.P. now owns 33,757 shares of the energy company’s stock valued at $2,133,000 after acquiring an additional 14,257 shares in the last quarter. Finally, Norris Financial Group LLC acquired a new stake in Matador Resources in the 1st quarter worth about $250,000. 91.98% of the stock is owned by institutional investors and hedge funds.

About Matador Resources

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.