UBS Group Issues Positive Forecast for Matador Resources (NYSE:MTDR) Stock Price

Matador Resources (NYSE:MTDR) had its price target upped by equities researchers at UBS Group from $54.00 to $56.00 in a research note issued on Monday,Benzinga reports. The firm presently has a “neutral” rating on the energy company’s stock. UBS Group’s target price points to a potential upside of 7.38% from the stock’s previous close.

MTDR has been the topic of a number of other research reports. Weiss Ratings cut shares of Matador Resources from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, May 12th. Truist Financial cut their target price on Matador Resources from $63.00 to $59.00 and set a “buy” rating on the stock in a research note on Monday. Wells Fargo & Company upped 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. Morgan Stanley dropped their target price on shares of Matador Resources from $75.00 to $66.00 and set an “equal weight” rating on the stock in a research note on Monday, June 29th. Finally, Mizuho upgraded Matador Resources to a “strong-buy” rating in a research note on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $65.86.

Matador Resources Trading Up 6.3%

Shares of MTDR stock traded up $3.09 during trading hours on Monday, reaching $52.15. The company’s stock had a trading volume of 2,465,093 shares, compared to its average volume of 1,890,071. The firm’s fifty day simple moving average is $51.44 and its 200 day simple moving average is $53.71. Matador Resources has a one year low of $37.14 and a one year high of $66.84. The stock has a market capitalization of $6.48 billion, a P/E ratio of 8.95 and a beta of 0.76. The company has a current ratio of 0.65, a quick ratio of 0.62 and a debt-to-equity ratio of 0.67.

Matador Resources (NYSE:MTDR) last issued its quarterly earnings data on Wednesday, August 5th. The energy company reported $2.61 EPS for the quarter, topping the consensus estimate of $2.08 by $0.53. Matador Resources had a net margin of 19.85% and a return on equity of 13.18%. The business had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.06 billion. During the same period in the prior year, the business earned $1.53 EPS. The company’s revenue for the quarter was up 32.5% on a year-over-year basis. Equities research analysts expect that Matador Resources will post 6.98 EPS for the current year.

Insider Activity at Matador Resources

In other Matador Resources news, CFO Christopher P. Calvert purchased 1,500 shares of the business’s stock in a transaction on Friday, May 29th. The stock was acquired at an average price of $53.24 per share, for a total transaction of $79,860.00. Following the purchase, the chief financial officer owned 41,500 shares of the company’s stock, valued at approximately $2,209,460. This represents a 3.75% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Glenn W. Stetson acquired 500 shares of the company’s stock in a transaction dated Tuesday, June 9th. The stock was acquired at an average cost of $53.41 per share, with a total value of $26,705.00. Following the purchase, the chief operating officer owned 95,470 shares of the company’s stock, valued at approximately $5,099,052.70. This trade represents a 0.53% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders purchased 11,907 shares of company stock worth $635,712. 5.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On Matador Resources

Several institutional investors have recently bought and sold shares of the stock. Jones Financial Companies Lllp grew its position in shares of Matador Resources by 1,104.8% during the first quarter. Jones Financial Companies Lllp now owns 2,012 shares of the energy company’s stock valued at $103,000 after purchasing an additional 1,845 shares in the last quarter. Geneos Wealth Management Inc. increased its position in Matador Resources by 361.3% in the first quarter. Geneos Wealth Management Inc. now owns 881 shares of the energy company’s stock worth $45,000 after purchasing an additional 690 shares during the last quarter. Sivia Capital Partners LLC bought a new position in Matador Resources during the second quarter valued at $255,000. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Matador Resources during the 2nd quarter valued at about $5,126,000. Finally, EverSource Wealth Advisors LLC grew its position in Matador Resources by 767.3% in the second quarter. EverSource Wealth Advisors LLC now owns 3,261 shares of the energy company’s stock worth $156,000 after acquiring an additional 2,885 shares in the last quarter. 91.98% of the stock is owned by hedge funds and other institutional investors.

About Matador Resources

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.