Matador Resources (NYSE:MTDR) Price Target Raised to $65.00

Matador Resources (NYSE:MTDR) had its target price lifted by Truist Financial from $59.00 to $65.00 in a research note published on Wednesday morning,Benzinga reports. Truist Financial currently has a buy rating on the energy company’s stock.

Several other equities analysts have also recently issued reports on MTDR. Citigroup decreased their price target on Matador Resources from $68.00 to $60.00 and set a “buy” rating on the stock in a report on Tuesday, August 11th. Mizuho upgraded Matador Resources to a “strong-buy” rating in a research report on Friday, July 31st. Wall Street Zen raised Matador Resources from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 26th. UBS Group boosted their price objective on Matador Resources from $56.00 to $64.00 and gave the stock a “neutral” rating in a report on Monday, September 14th. Finally, Weiss Ratings upgraded shares of Matador Resources from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $66.81.

Matador Resources Stock Up 6.9%

NYSE MTDR opened at $57.47 on Wednesday. The stock has a fifty day moving average of $55.91 and a 200-day moving average of $55.32. The stock has a market capitalization of $7.11 billion, a P/E ratio of 9.86 and a beta of 0.98. Matador Resources has a 52 week low of $37.14 and a 52 week high of $66.84. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.62 and a current ratio of 0.65.

Matador Resources (NYSE:MTDR) last released its earnings results on Wednesday, August 5th. The energy company reported $2.61 earnings per share for the quarter, topping analysts’ consensus estimates of $2.08 by $0.53. Matador Resources had a return on equity of 13.18% and a net margin of 19.85%. The company had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.06 billion. During the same quarter in the previous year, the company posted $1.53 earnings per share. The firm’s quarterly revenue was up 32.5% on a year-over-year basis. On average, equities research analysts forecast that Matador Resources will post 7.72 EPS for the current year.

Matador Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 8th. Investors of record on Monday, August 10th were paid a dividend of $0.3750 per share. The ex-dividend date of this dividend was Monday, August 10th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 2.6%. Matador Resources’s payout ratio is 25.73%.

Insider Buying and Selling

In related news, CEO Joseph Foran acquired 555 shares of the company’s stock in a transaction that occurred on Wednesday, August 26th. The stock was acquired at an average price of $54.49 per share, for a total transaction of $30,241.95. Following the completion of the acquisition, the chief executive officer owned 4,772 shares of the company’s stock, valued at $260,026.28. This trade represents a 13.16% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Christopher Calvert bought 2,500 shares of the business’s stock in a transaction on Thursday, August 27th. The stock was bought at an average cost of $56.64 per share, for a total transaction of $141,600.00. Following the purchase, the chief financial officer directly owned 44,000 shares of the company’s stock, valued at approximately $2,492,160. This trade represents a 6.02% increase in their position. The SEC filing for this purchase provides additional information. Insiders purchased a total of 23,144 shares of company stock valued at $1,211,793 over the last three months. Company insiders own 5.90% of the company’s stock.

Institutional Trading of Matador Resources

A number of institutional investors and hedge funds have recently modified their holdings of the stock. V Square Quantitative Management LLC acquired a new stake in shares of Matador Resources in the 1st quarter valued at approximately $27,000. Center for Financial Planning Inc. bought a new position in Matador Resources during the 1st quarter worth approximately $41,000. Altshuler Shaham Ltd boosted its stake in 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 last quarter. Harbor Investment Advisory LLC acquired a new position in Matador Resources during the second quarter valued at approximately $44,000. Finally, Integrated Wealth Concepts LLC acquired a new position in Matador Resources during the second quarter valued at approximately $54,000. 91.98% of the stock is owned by institutional investors.

Trending Headlines about Matador Resources

Here are the key news stories impacting Matador Resources this week:

• Positive Sentiment: Truist raised its price target to $65, indicating additional upside from recent trading levels and reinforcing its constructive view of Matador Resources. Truist lifts target for Matador Resources stock to USD 65.00
• Positive Sentiment: Morgan Stanley increased its target from $66 to $69 while maintaining an “equal weight” rating. The higher valuation target suggests improved expectations, despite the firm’s neutral stance. Morgan Stanley raises Matador Resources price target
• Positive Sentiment: Wells Fargo issued a “buy” rating on MTDR, adding another bullish analyst endorsement and potentially supporting investor sentiment. Wells Fargo issues a buy rating on Matador Resources
• Neutral Sentiment: Scotiabank initiated coverage with a “sector perform” rating and a $59 target. The target implies limited upside and indicates the bank expects Matador to perform broadly in line with its industry peers. Scotiabank initiates coverage on Matador Resources
• Negative Sentiment: A separate Wells Fargo report presented a pessimistic stock-price forecast, creating conflicting signals with the firm’s reported buy rating. This inconsistency could increase uncertainty around the near-term analyst outlook. Wells Fargo issues pessimistic forecast for Matador Resources

Matador Resources Company Profile

Matador Resources Company is an independent energy company engaged in the exploration, development, production and acquisition of oil and natural gas properties. Its operations are focused primarily on unconventional, or shale, formations, with oil, natural gas and natural gas liquids among its principal products.

The company’s main exploration and production activities are concentrated in the Delaware Basin, part of the Permian Basin in southeastern New Mexico and West Texas. Matador has also historically held interests in other U.S.