Matador Resources (NYSE:MTDR) Upgraded by Truist Financial to “Buy” Rating

Matador Resources (NYSE:MTDR) was upgraded by investment analysts at Truist Financial from a “hold” rating to a “buy” rating in a research report issued on Tuesday,Benzinga reports. The brokerage presently has a $67.00 price objective on the energy company’s stock, up from their prior price objective of $60.00. Truist Financial’s target price points to a potential upside of 18.78% from the stock’s previous close.

A number of other brokerages also recently commented on MTDR. KeyCorp boosted their target price on shares of Matador Resources from $61.00 to $73.00 and gave the stock an “overweight” rating in a research note on Thursday, April 2nd. Weiss Ratings upgraded shares of Matador Resources from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, April 27th. Zacks Research upgraded shares of Matador Resources from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, April 8th. Wells Fargo & Company boosted their target price on shares of Matador Resources from $54.00 to $63.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 16th. Finally, UBS Group boosted their target price on shares of Matador Resources from $50.00 to $52.00 and gave the stock a “neutral” rating in a research note on Thursday, March 5th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $63.46.

Matador Resources Stock Up 2.1%

Matador Resources stock opened at $56.41 on Tuesday. Matador Resources has a twelve month low of $37.14 and a twelve month high of $66.84. The stock’s fifty day simple moving average is $58.95 and its 200-day simple moving average is $48.73. The company has a current ratio of 0.73, a quick ratio of 0.70 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $7.01 billion, a P/E ratio of 14.50, a P/E/G ratio of 1.73 and a beta of 0.81.

Matador Resources (NYSE:MTDR) last posted its quarterly earnings data on Wednesday, May 6th. The energy company reported $1.53 earnings per share for the quarter, topping analysts’ consensus estimates of $1.24 by $0.29. Matador Resources had a return on equity of 11.20% and a net margin of 14.41%.The business had revenue of $941.60 million for the quarter, compared to analyst estimates of $871.57 million. During the same quarter in the prior year, the company earned $1.99 earnings per share. The company’s revenue was down 33.8% on a year-over-year basis. As a group, equities analysts expect that Matador Resources will post 7.25 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Matador Resources

Several large investors have recently bought and sold shares of the stock. PNC Financial Services Group Inc. boosted its stake in Matador Resources by 22.7% in the first quarter. PNC Financial Services Group Inc. now owns 12,147 shares of the energy company’s stock valued at $767,000 after acquiring an additional 2,250 shares in the last quarter. Madison Asset Management LLC boosted its stake in Matador Resources by 27.0% in the first quarter. Madison Asset Management LLC now owns 280,699 shares of the energy company’s stock valued at $17,735,000 after acquiring an additional 59,699 shares in the last quarter. Amova Asset Management Americas Inc. boosted its stake in Matador Resources by 2.5% in the first quarter. Amova Asset Management Americas Inc. now owns 20,072 shares of the energy company’s stock valued at $1,268,000 after acquiring an additional 483 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Matador Resources by 4.2% in the first quarter. Dimensional Fund Advisors LP now owns 6,948,104 shares of the energy company’s stock valued at $439,010,000 after acquiring an additional 277,839 shares in the last quarter. Finally, California Public Employees Retirement System boosted its stake in Matador Resources by 17.3% in the first quarter. California Public Employees Retirement System now owns 254,670 shares of the energy company’s stock valued at $16,090,000 after acquiring an additional 37,476 shares in the last quarter. Institutional investors and hedge funds own 91.98% of the company’s stock.

Matador Resources Company Profile

Matador Resources Company is an independent energy firm primarily engaged in the exploration, development and production of oil, natural gas liquids (NGLs) and natural gas. The company focuses on upstream operations, utilizing horizontal drilling and hydraulic fracturing techniques to unlock hydrocarbons from key reservoirs. Its asset base includes both operated and non‐operated positions, with a particular emphasis on the Permian Basin, one of the most prolific oil-producing regions in North America.

Matador’s core operations are concentrated in the Delaware Basin segment of the Permian Basin, where it holds substantial acreage in both Reeves and Culberson counties in West Texas and Eddy and Lea counties in New Mexico.