Matador Resources (NYSE:MTDR) Upgraded to “Buy” at Roth Mkm

Matador Resources (NYSE:MTDR) was upgraded by equities researchers at Roth Mkm from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Monday, Marketbeat.com reports. The firm currently has a $65.00 price target on the energy company’s stock. Roth Mkm’s price objective indicates a potential upside of 30.00% from the company’s previous close.

Several other equities research analysts have also recently commented on the stock. UBS Group raised their target price on shares of Matador Resources from $50.00 to $52.00 and gave the stock a “neutral” rating in a research report on Thursday, March 5th. KeyCorp boosted their price target on shares of Matador Resources from $61.00 to $73.00 and gave the company an “overweight” rating in a research report on Thursday, April 2nd. Wells Fargo & Company increased their price target 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. Mizuho raised their price objective on shares of Matador Resources from $74.00 to $77.00 and gave the stock an “outperform” rating in a report on Wednesday, May 27th. Finally, TD Cowen lifted their price objective on Matador Resources from $60.00 to $65.00 and gave the company a “buy” rating in a research report on Tuesday, March 17th. Eleven equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $65.08.

Matador Resources Trading Up 0.9%

Shares of Matador Resources stock traded up $0.44 during midday trading on Monday, reaching $50.00. 86,948 shares of the company’s stock traded hands, compared to its average volume of 1,836,538. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.70 and a current ratio of 0.73. The company has a market cap of $6.21 billion, a PE ratio of 12.87 and a beta of 0.74. The stock has a 50 day moving average of $56.84 and a 200-day moving average of $51.77. Matador Resources has a 12 month low of $37.14 and a 12 month high of $66.84.

Matador Resources (NYSE:MTDR) last announced its quarterly earnings results on Wednesday, May 6th. The energy company reported $1.53 EPS for the quarter, topping analysts’ consensus estimates of $1.24 by $0.29. The company had revenue of $941.60 million during the quarter, compared to analyst estimates of $871.57 million. Matador Resources had a return on equity of 11.20% and a net margin of 14.41%.The firm’s revenue was down 33.8% on a year-over-year basis. During the same quarter last year, the firm posted $1.99 earnings per share. As a group, equities analysts expect that Matador Resources will post 7.5 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Joseph Wm Foran purchased 2,000 shares of the company’s stock in a transaction dated Tuesday, June 9th. The shares were purchased at an average cost of $53.07 per share, with a total value of $106,140.00. Following the transaction, the chief executive officer directly owned 11,479 shares in the company, valued at $609,190.53. This trade represents a 21.10% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Glenn W. Stetson purchased 500 shares of the business’s stock in a transaction that occurred on Tuesday, June 9th. The stock was bought at an average price of $53.41 per share, for a total transaction of $26,705.00. Following the purchase, the chief operating officer directly owned 95,470 shares in the company, valued at $5,099,052.70. The trade was a 0.53% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders have acquired 11,907 shares of company stock worth $635,712. 5.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Matador Resources

Institutional investors have recently modified their holdings of the stock. Altshuler Shaham Ltd raised its holdings in shares of Matador Resources by 36.7% during the 1st quarter. Altshuler Shaham Ltd now owns 748 shares of the energy company’s stock worth $47,000 after acquiring an additional 201 shares during the period. Burford Brothers Inc. grew its holdings in shares of Matador Resources by 0.8% in the first quarter. Burford Brothers Inc. now owns 26,798 shares of the energy company’s stock valued at $1,693,000 after purchasing an additional 225 shares during the period. Fiduciary Trust Co grew its holdings in shares of Matador Resources by 2.2% in the third quarter. Fiduciary Trust Co now owns 11,821 shares of the energy company’s stock valued at $531,000 after purchasing an additional 253 shares during the period. O Shaughnessy Asset Management LLC increased its position in Matador Resources by 2.9% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 9,138 shares of the energy company’s stock worth $388,000 after purchasing an additional 254 shares during the last quarter. Finally, Verdence Capital Advisors LLC increased its position in Matador Resources by 3.5% during the fourth quarter. Verdence Capital Advisors LLC now owns 8,233 shares of the energy company’s stock worth $349,000 after purchasing an additional 278 shares during the last quarter. 91.98% of the stock is owned by hedge funds and other institutional investors.

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.