Benchmark Reiterates Buy Rating for Matador Resources (NYSE:MTDR)

Matador Resources (NYSE:MTDR)‘s stock had its “buy” rating restated by equities research analysts at Benchmark in a research report issued to clients and investors on Wednesday, Benzinga reports. They presently have a $62.00 target price on the energy company’s stock. Benchmark’s price target points to a potential upside of 23.98% from the company’s current price.

Several other brokerages also recently weighed in on MTDR. Royal Bank of Canada reissued an “outperform” rating and set a $75.00 price target on shares of Matador Resources in a research report on Friday, September 27th. Wolfe Research started coverage on Matador Resources in a report on Thursday, July 18th. They issued a “peer perform” rating for the company. JPMorgan Chase & Co. lowered their price target on Matador Resources from $83.00 to $76.00 and set an “overweight” rating on the stock in a report on Thursday, September 12th. Capital One Financial raised Matador Resources from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $80.00 to $84.00 in a research report on Thursday, July 25th. Finally, KeyCorp decreased their target price on Matador Resources from $76.00 to $72.00 and set an “overweight” rating for the company in a research report on Wednesday, October 16th. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, Matador Resources presently has a consensus rating of “Moderate Buy” and an average price target of $75.69.

Matador Resources Stock Down 0.6 %

Matador Resources stock traded down $0.32 during mid-day trading on Wednesday, hitting $50.01. The company had a trading volume of 1,639,532 shares, compared to its average volume of 1,503,871. Matador Resources has a 12 month low of $47.15 and a 12 month high of $71.08. The company has a current ratio of 0.86, a quick ratio of 0.82 and a debt-to-equity ratio of 0.41. The stock’s 50 day moving average price is $53.03 and its two-hundred day moving average price is $58.41. The company has a market capitalization of $6.24 billion, a PE ratio of 6.87 and a beta of 3.26.

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, topping analysts’ consensus estimates of $1.78 by $0.11. The company had revenue of $770.20 million for the quarter, compared to analysts’ expectations of $836.69 million. Matador Resources had a net margin of 29.01% and a return on equity of 21.12%. Matador Resources’s revenue was up 9.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.86 EPS. As a group, sell-side analysts anticipate that Matador Resources will post 7.4 earnings per share for the current fiscal year.

Insider Buying and Selling at Matador Resources

In other news, CAO Robert T. Macalik bought 500 shares of the firm’s stock in a transaction on Friday, August 2nd. The shares were bought at an average price of $54.50 per share, for a total transaction of $27,250.00. Following the purchase, the chief accounting officer now owns 29,300 shares in the company, valued at approximately $1,596,850. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Matador Resources news, CAO Robert T. Macalik acquired 500 shares of the stock in a transaction dated Friday, August 2nd. The shares were acquired at an average cost of $54.50 per share, for a total transaction of $27,250.00. Following the completion of the transaction, the chief accounting officer now directly owns 29,300 shares of the company’s stock, valued at approximately $1,596,850. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Joseph Wm Foran purchased 2,000 shares of the stock in a transaction that occurred on Friday, August 2nd. The stock was acquired at an average cost of $55.96 per share, for a total transaction of $111,920.00. Following the completion of the acquisition, the chief executive officer now owns 35,251 shares in the company, valued at $1,972,645.96. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 12,300 shares of company stock valued at $634,615. Company insiders own 6.10% of the company’s stock.

Hedge Funds Weigh In On Matador Resources

Several institutional investors have recently bought and sold shares of MTDR. Denver PWM LLC purchased a new position in Matador Resources during the 2nd quarter valued at approximately $27,000. Covestor Ltd grew its holdings in shares of Matador Resources by 121.4% in the first quarter. Covestor Ltd now owns 414 shares of the energy company’s stock valued at $28,000 after purchasing an additional 227 shares in the last quarter. Quarry LP increased its position in Matador Resources by 47.5% in the second quarter. Quarry LP now owns 779 shares of the energy company’s stock worth $46,000 after purchasing an additional 251 shares during the last quarter. Advisors Asset Management Inc. raised its stake in Matador Resources by 191.8% during the first quarter. Advisors Asset Management Inc. now owns 709 shares of the energy company’s stock valued at $47,000 after purchasing an additional 466 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in Matador Resources by 28.7% during the third quarter. GAMMA Investing LLC now owns 1,403 shares of the energy company’s stock valued at $69,000 after purchasing an additional 313 shares during the last quarter. 91.98% of the stock is owned by hedge funds and other institutional investors.

About Matador Resources

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.