UBS Group Issues Positive Forecast for Matador Resources (NYSE:MTDR) Stock Price

Matador Resources (NYSE:MTDR) had its target price raised by stock analysts at UBS Group from $56.00 to $64.00 in a report released on Monday, Benzinga reports. The brokerage presently has a “neutral” rating on the energy company’s stock. UBS Group’s target price points to a potential upside of 4.55% from the stock’s current price.

Several other analysts have also commented on the company. Wall Street Zen raised Matador Resources from a “hold” rating to a “buy” rating in a report on Saturday, August 15th. Citigroup lowered their target price on Matador Resources from $68.00 to $60.00 and set a “buy” rating on the stock in a report on Tuesday, August 11th. Wells Fargo & Company raised Matador Resources from an “equal weight” rating to an “overweight” rating and dropped their target price for the stock from $79.00 to $77.00 in a research report on Wednesday, September 2nd. Stephens boosted their price target on Matador Resources from $92.00 to $93.00 and gave the company an “overweight” rating in a research note on Tuesday, July 28th. Finally, Zacks Research downgraded Matador Resources from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 25th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $66.47.

Matador Resources Stock Performance

MTDR stock traded up $0.17 on Monday, hitting $61.22. The company had a trading volume of 1,563,314 shares, compared to its average volume of 1,891,151. Matador Resources has a 12-month low of $37.14 and a 12-month high of $66.84. The company has a current ratio of 0.65, a quick ratio of 0.62 and a debt-to-equity ratio of 0.67. The stock’s 50-day simple moving average is $54.02 and its 200 day simple moving average is $55.62. The stock has a market cap of $7.58 billion, a price-to-earnings ratio of 10.46 and a beta of 0.79.

Matador Resources (NYSE:MTDR) last announced its earnings results on Wednesday, August 5th. The energy company reported $2.61 earnings per share for the quarter, beating analysts’ consensus estimates of $2.08 by $0.53. The business had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.06 billion. Matador Resources had a net margin of 19.85% and a return on equity of 13.18%. The company’s quarterly revenue was up 32.5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.53 EPS. As a group, equities research analysts expect that Matador Resources will post 7.55 earnings per share for the current fiscal year.

Insider Activity at Matador Resources

In other news, CFO Christopher P. Calvert purchased 2,500 shares of the company’s stock in a transaction on Thursday, August 27th. The stock was acquired at an average cost of $56.64 per share, for a total transaction of $141,600.00. Following the completion of the transaction, the chief financial officer directly owned 44,000 shares in the company, valued at $2,492,160. This trade represents a 6.02% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP William Elsener acquired 850 shares of Matador Resources stock in a transaction dated Monday, August 10th. The stock was purchased at an average cost of $50.94 per share, with a total value of $43,299.00. Following the completion of the purchase, the executive vice president owned 114,879 shares of the company’s stock, valued at approximately $5,851,936.26. This represents a 0.75% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders purchased 23,144 shares of company stock worth $1,211,793. 5.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On Matador Resources

A number of institutional investors and hedge funds have recently bought and sold shares of MTDR. BlackRock Inc. purchased a new position in shares of Matador Resources in the second quarter valued at about $573,936,000. California State Teachers Retirement System grew its position in shares of Matador Resources by 5,019.7% during the second quarter. California State Teachers Retirement System now owns 6,833,201 shares of the energy company’s stock worth $340,157,000 after purchasing an additional 6,699,733 shares in the last quarter. Wellington Management Group LLP raised its stake in Matador Resources by 65.0% during the 4th quarter. Wellington Management Group LLP now owns 3,406,182 shares of the energy company’s stock valued at $144,558,000 after purchasing an additional 1,342,145 shares during the period. Encompass Capital Advisors LLC bought a new stake in Matador Resources during the 4th quarter valued at approximately $53,249,000. Finally, Bank of New York Mellon Corp purchased a new position in Matador Resources in the 2nd quarter worth approximately $56,161,000. 91.98% of the stock is owned by institutional investors.

About Matador Resources

Matador Resources Company is an independent energy company engaged in the exploration, development, production and acquisition of oil, natural gas and natural gas liquids. The company focuses primarily on unconventional, horizontal drilling and development activities in the United States.

Matador’s principal operations are concentrated in the Delaware Basin, a sub-basin of the Permian Basin in southeastern New Mexico and West Texas. Its activities include drilling and completing wells, producing hydrocarbons, and managing mineral and leasehold interests associated with its development programs.

Through its midstream operations, including San Mateo Midstream, Matador also provides gathering, processing, transportation and water-handling services that support oil and natural gas production in the Delaware Basin.