Matador Resources (NYSE:MTDR) Receives $75.14 Consensus Target Price from Brokerages

Matador Resources (NYSE:MTDR) has earned a consensus rating of “Moderate Buy” from the fourteen research firms that are presently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and thirteen have issued a buy recommendation on the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $75.14.

A number of analysts have recently commented on MTDR shares. Wells Fargo & Company boosted their price target on Matador Resources from $87.00 to $91.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Morgan Stanley started coverage on Matador Resources in a research note on Friday, January 10th. They issued an “equal weight” rating and a $78.00 target price on the stock. Wolfe Research raised shares of Matador Resources from a “peer perform” rating to an “outperform” rating and set a $72.00 price target for the company in a research note on Friday, January 3rd. BMO Capital Markets boosted their price objective 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. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $70.00 target price on shares of Matador Resources in a research report on Wednesday, January 15th.

Matador Resources Stock Performance

MTDR stock opened at $63.83 on Thursday. 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 twelve month low of $47.15 and a twelve month high of $71.08. The business’s fifty day moving average is $58.07 and its 200-day moving average is $56.13. The company has a market cap of $7.96 billion, a P/E ratio of 8.45 and a beta of 3.24.

Matador Resources (NYSE:MTDR) last announced its quarterly earnings results on Tuesday, October 22nd. The energy company reported $1.89 earnings per share 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 27.45% and a return on equity of 20.01%. The business’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same period last year, the firm posted $1.86 earnings per share. Equities research analysts forecast that Matador Resources will post 7.46 EPS for the current year.

Insider Buying and Selling

In other news, EVP Glenn W. Stetson purchased 1,000 shares of the business’s stock in a transaction dated Wednesday, October 30th. The shares were purchased at an average cost of $51.33 per share, with a total value of $51,330.00. Following the completion of the purchase, the executive vice president now owns 85,935 shares of the company’s stock, valued at $4,411,043.55. This trade represents a 1.18 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, EVP William Thomas Elsener acquired 800 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The stock was acquired at an average price of $56.60 per share, with a total value of $45,280.00. Following the acquisition, the executive vice president now owns 102,964 shares in the company, valued at $5,827,762.40. The trade was a 0.78 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 4,285 shares of company stock worth $232,849. Corporate insiders own 6.10% of the company’s stock.

Hedge Funds Weigh In On Matador Resources

A number of hedge funds and other institutional investors have recently made changes to their positions in MTDR. Boston Trust Walden Corp acquired a new position in shares of Matador Resources in the 3rd quarter valued at about $51,788,000. Yaupon Capital Management LP increased its stake in shares of Matador Resources by 565.4% in the 3rd quarter. Yaupon Capital Management LP now owns 744,037 shares of the energy company’s stock valued at $36,770,000 after acquiring an additional 632,218 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Matador Resources by 8.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,734,819 shares of the energy company’s stock valued at $282,196,000 after acquiring an additional 356,506 shares during the period. FMR LLC grew its holdings in Matador Resources by 162.9% in the third quarter. FMR LLC now owns 478,795 shares of the energy company’s stock worth $23,662,000 after purchasing an additional 296,663 shares during the period. Finally, Clearbridge Investments LLC raised its holdings in shares of Matador Resources by 10.5% during the second quarter. Clearbridge Investments LLC now owns 2,250,036 shares of the energy company’s stock valued at $134,102,000 after purchasing an additional 214,334 shares during the period. 91.98% of the stock is 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.