Matador Resources (NYSE:MTDR) Upgraded at TD Cowen

TD Cowen upgraded shares of Matador Resources (NYSE:MTDR) to a strong-buy rating in a research note released on Monday morning,Zacks.com reports.

A number of other research analysts have also recently issued reports on MTDR. Mizuho increased their target price on shares of Matador Resources from $67.00 to $70.00 and gave the company an “outperform” rating in a report on Friday, December 12th. KeyCorp restated an “overweight” rating on shares of Matador Resources in a report on Friday, December 19th. Bank of America reduced their price objective on Matador Resources from $55.00 to $50.00 and set a “buy” rating for the company in a report on Monday, November 3rd. Wells Fargo & Company downgraded Matador Resources from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $61.00 to $47.00 in a research report on Tuesday, January 27th. Finally, Morgan Stanley dropped their price target on Matador Resources from $56.00 to $52.00 and set an “equal weight” rating for the company in a research report on Friday, January 23rd. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $57.82.

Matador Resources Trading Up 3.4%

Shares of MTDR stock opened at $48.50 on Monday. The business’s fifty day moving average price is $43.45 and its 200 day moving average price is $44.36. The firm has a market capitalization of $6.03 billion, a PE ratio of 7.75 and a beta of 1.14. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.73 and a quick ratio of 0.69. Matador Resources has a 1-year low of $35.19 and a 1-year high of $59.22.

Institutional Trading of Matador Resources

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in Matador Resources by 298.5% in the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 534 shares of the energy company’s stock valued at $25,000 after purchasing an additional 400 shares in the last quarter. Kestra Investment Management LLC raised its position in shares of Matador Resources by 225.2% in the second quarter. Kestra Investment Management LLC now owns 517 shares of the energy company’s stock valued at $25,000 after buying an additional 358 shares during the last quarter. Allworth Financial LP lifted its stake in shares of Matador Resources by 182.0% during the second quarter. Allworth Financial LP now owns 564 shares of the energy company’s stock valued at $27,000 after buying an additional 364 shares during the period. Ameritas Advisory Services LLC purchased a new position in shares of Matador Resources during the second quarter valued at approximately $29,000. Finally, Rothschild Investment LLC boosted its position in Matador Resources by 5,927.3% during the third quarter. Rothschild Investment LLC now owns 663 shares of the energy company’s stock worth $30,000 after acquiring an additional 652 shares during the last quarter. Hedge funds and other institutional investors 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.