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

Benchmark reiterated their buy rating on shares of Matador Resources (NYSE:MTDR) in a report issued on Friday,Benzinga reports. They currently have a $62.00 price target on the energy company’s stock.

MTDR has been the subject of several other research reports. Mizuho reduced their price target on shares of Matador Resources from $74.00 to $73.00 and set an “outperform” rating for the company in a report on Monday, December 16th. Stephens upped their target price on shares of Matador Resources from $78.00 to $80.00 and gave the stock an “overweight” rating in a research note on Friday, December 6th. Wolfe Research raised Matador Resources from a “peer perform” rating to an “outperform” rating and set a $72.00 price target on the stock in a research note on Friday, January 3rd. Morgan Stanley began coverage on Matador Resources in a research report on Friday, January 10th. They set an “equal weight” rating and a $78.00 price objective for the company. Finally, BMO Capital Markets lifted their target price on Matador Resources from $75.00 to $78.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $75.14.

Matador Resources Stock Performance

MTDR stock opened at $63.83 on Friday. Matador Resources has a 1-year low of $47.15 and a 1-year high of $71.08. The company has a current ratio of 0.88, a quick ratio of 0.84 and a debt-to-equity ratio of 0.71. The firm has a market cap of $7.96 billion, a PE ratio of 8.45 and a beta of 3.24. The business’s 50-day moving average price is $57.94 and its two-hundred day moving average price is $56.10.

Matador Resources (NYSE:MTDR) last released its quarterly earnings data on Tuesday, October 22nd. The energy company reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.78 by $0.11. Matador Resources had a return on equity of 20.01% and a net margin of 27.45%. The business had revenue of $770.20 million for the quarter, compared to analysts’ expectations of $836.69 million. During the same quarter in the previous year, the business posted $1.86 EPS. Matador Resources’s revenue for the quarter was up 9.8% on a year-over-year basis. As a group, research analysts forecast that Matador Resources will post 7.46 earnings per share for the current year.

Insiders Place Their Bets

In other Matador Resources news, EVP Glenn W. Stetson bought 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The shares were acquired at an average cost of $51.33 per share, with a total value of $51,330.00. Following the acquisition, the executive vice president now owns 85,935 shares of the company’s stock, valued at $4,411,043.55. The trade was a 1.18 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP William Thomas Elsener purchased 800 shares of the business’s stock in a transaction on Friday, December 13th. The shares were acquired at an average cost of $56.60 per share, with a total value of $45,280.00. Following the acquisition, the executive vice president now directly owns 102,964 shares in the company, valued at approximately $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. Over the last three months, insiders have bought 4,285 shares of company stock valued at $232,849. 6.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Matador Resources

Several institutional investors and hedge funds have recently modified their holdings of the stock. MassMutual Private Wealth & Trust FSB lifted its holdings in Matador Resources by 68.3% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 510 shares of the energy company’s stock worth $29,000 after purchasing an additional 207 shares during the last quarter. ClearAlpha Technologies LP lifted its holdings in shares of Matador Resources by 4.3% during the third quarter. ClearAlpha Technologies LP now owns 5,250 shares of the energy company’s stock worth $259,000 after buying an additional 218 shares in the last quarter. Quarry LP lifted its holdings in shares of Matador Resources by 47.5% during the second quarter. Quarry LP now owns 779 shares of the energy company’s stock worth $46,000 after buying an additional 251 shares in the last quarter. Greenleaf Trust boosted its position in shares of Matador Resources by 3.8% in the third quarter. Greenleaf Trust now owns 7,086 shares of the energy company’s stock valued at $350,000 after acquiring an additional 260 shares during the period. Finally, Evergreen Capital Management LLC grew its stake in shares of Matador Resources by 4.4% in the second quarter. Evergreen Capital Management LLC now owns 6,814 shares of the energy company’s stock valued at $406,000 after acquiring an additional 289 shares in the last quarter. 91.98% of the stock is currently owned by institutional investors and hedge funds.

Matador Resources Company Profile

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.