Matador Resources (NYSE:MTDR) Receives “Buy” Rating from Benchmark

Benchmark restated their buy rating on shares of Matador Resources (NYSE:MTDR) in a report published on Friday morning,Benzinga reports. Benchmark currently has a $62.00 price objective on the energy company’s stock.

Several other analysts also recently weighed in on MTDR. KeyCorp dropped their price target on Matador Resources from $76.00 to $72.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 16th. Wolfe Research upgraded Matador Resources from a “peer perform” rating to an “outperform” rating and set a $72.00 target price on the stock in a research report on Friday, January 3rd. BMO Capital Markets raised their price target on shares of Matador Resources from $75.00 to $78.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. TD Cowen upped their price objective on shares of Matador Resources from $74.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Matador Resources from $77.00 to $71.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 30th. Two investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, Matador Resources has a consensus rating of “Moderate Buy” and an average target price of $75.14.

Matador Resources Stock Performance

Shares of Matador Resources stock opened at $63.83 on Friday. The company has a 50 day moving average price of $57.94 and a 200 day moving average price of $56.16. The firm has a market capitalization of $7.96 billion, a P/E ratio of 8.45 and a beta of 3.24. The company has a quick ratio of 0.84, a current ratio of 0.88 and a debt-to-equity ratio of 0.71. Matador Resources has a 52 week low of $47.15 and a 52 week high of $71.08.

Matador Resources (NYSE:MTDR) last posted 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 business had revenue of $770.20 million during the quarter, compared to analysts’ expectations of $836.69 million. Matador Resources had a net margin of 27.45% and a return on equity of 20.01%. The business’s quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter last year, the company posted $1.86 earnings per share. Sell-side analysts expect that Matador Resources will post 7.46 EPS for the current year.

Insider Activity

In other Matador Resources news, EVP William Thomas Elsener bought 800 shares of the firm’s stock in a transaction dated Friday, December 13th. The shares were purchased at an average price of $56.60 per share, for a total transaction of $45,280.00. Following the transaction, the executive vice president now directly owns 102,964 shares of the company’s stock, valued at approximately $5,827,762.40. This represents a 0.78 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Joseph Wm Foran purchased 2,000 shares of the business’s stock in a transaction that occurred on Friday, December 6th. The stock was bought at an average cost of $55.18 per share, with a total value of $110,360.00. Following the acquisition, the chief executive officer now owns 42,251 shares in the company, valued at $2,331,410.18. This represents a 4.97 % increase in their position. The disclosure for this purchase can be found here. Insiders have acquired 4,285 shares of company stock worth $232,849 in the last ninety days. Company insiders own 6.10% of the company’s stock.

Institutional Investors Weigh In On Matador Resources

Several institutional investors have recently bought and sold shares of MTDR. Victory Capital Management Inc. boosted its stake in Matador Resources by 2.7% during the 3rd quarter. Victory Capital Management Inc. now owns 2,752,102 shares of the energy company’s stock worth $136,009,000 after purchasing an additional 72,077 shares during the last quarter. Clearbridge Investments LLC lifted its stake in shares of Matador Resources by 10.5% in the second quarter. Clearbridge Investments LLC now owns 2,250,036 shares of the energy company’s stock worth $134,102,000 after buying an additional 214,334 shares in the last quarter. Geode Capital Management LLC boosted its position in Matador Resources by 1.9% during the third quarter. Geode Capital Management LLC now owns 2,008,730 shares of the energy company’s stock worth $99,297,000 after acquiring an additional 36,921 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in Matador Resources by 4.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,434,926 shares of the energy company’s stock valued at $70,914,000 after acquiring an additional 57,254 shares in the last quarter. Finally, Wasatch Advisors LP raised its holdings in Matador Resources by 4.3% in the 3rd quarter. Wasatch Advisors LP now owns 1,287,587 shares of the energy company’s stock valued at $63,633,000 after acquiring an additional 52,498 shares during the last quarter. 91.98% of the stock is currently owned by institutional investors and hedge funds.

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.