Benchmark Reaffirms Buy Rating for Matador Resources (NYSE:MTDR)

Matador Resources (NYSE:MTDR)‘s stock had its “buy” rating restated by Benchmark in a research report issued to clients and investors on Friday,Benzinga reports. They presently have a $62.00 target price on the energy company’s stock. Benchmark’s target price suggests a potential downside of 1.42% from the stock’s current price.

Several other equities research analysts have also issued reports on MTDR. Truist Financial raised their price target on shares of Matador Resources from $75.00 to $80.00 and gave the stock a “buy” rating in a research note on Monday. Wolfe Research upgraded Matador Resources from a “peer perform” rating to an “outperform” rating and set a $72.00 target price on the stock in a research note on Friday, January 3rd. KeyCorp dropped their price target on Matador Resources from $76.00 to $72.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 16th. Stephens lifted their price objective on Matador Resources from $78.00 to $80.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. Finally, Wells Fargo & Company upped their price objective on shares of Matador Resources from $87.00 to $91.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $75.14.

Matador Resources Stock Performance

NYSE:MTDR traded down $0.49 during trading on Friday, reaching $62.90. The company’s stock had a trading volume of 119,788 shares, compared to its average volume of 1,092,029. Matador Resources has a 12 month low of $47.15 and a 12 month high of $71.08. The firm has a market cap of $7.85 billion, a price-to-earnings ratio of 8.32 and a beta of 3.24. The firm has a 50 day moving average of $57.79 and a 200-day moving average of $56.13. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.84 and a current ratio of 0.88.

Matador Resources (NYSE:MTDR) last posted its quarterly earnings results on Tuesday, October 22nd. The energy company reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.78 by $0.11. The company had revenue of $770.20 million during the quarter, compared to analyst estimates of $836.69 million. Matador Resources had a net margin of 27.45% and a return on equity of 20.01%. The firm’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.86 earnings per share. Research analysts expect that Matador Resources will post 7.46 EPS for the current fiscal year.

Insider Transactions at Matador Resources

In other Matador Resources news, EVP Glenn W. Stetson purchased 1,000 shares of Matador Resources stock in a transaction on Wednesday, October 30th. The shares were acquired at an average cost of $51.33 per share, for a total transaction of $51,330.00. Following the completion of the transaction, the executive vice president now directly owns 85,935 shares of the company’s stock, valued at approximately $4,411,043.55. The trade was a 1.18 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Joseph Wm Foran purchased 2,000 shares of the business’s stock in a transaction on Friday, December 6th. The shares were acquired at an average price of $55.18 per share, with a total value of $110,360.00. Following the completion of the transaction, the chief executive officer now owns 42,251 shares of the company’s stock, valued at approximately $2,331,410.18. This trade represents a 4.97 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 4,285 shares of company stock valued at $232,849. 6.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Matador Resources

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Franklin Resources Inc. lifted its position in Matador Resources by 12.0% in the third quarter. Franklin Resources Inc. now owns 1,008,421 shares of the energy company’s stock valued at $54,122,000 after purchasing an additional 107,827 shares during the last quarter. Loomis Sayles & Co. L P increased its stake in shares of Matador Resources by 16.8% in the third quarter. Loomis Sayles & Co. L P now owns 455,662 shares of the energy company’s stock worth $22,519,000 after buying an additional 65,487 shares during the period. Stifel Financial Corp raised its holdings in Matador Resources by 81.2% during the 3rd quarter. Stifel Financial Corp now owns 30,304 shares of the energy company’s stock valued at $1,498,000 after buying an additional 13,583 shares during the last quarter. HITE Hedge Asset Management LLC purchased a new stake in Matador Resources during the 3rd quarter valued at $10,526,000. Finally, Dynamic Technology Lab Private Ltd grew its holdings in Matador Resources by 194.0% in the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 16,534 shares of the energy company’s stock worth $817,000 after acquiring an additional 10,910 shares during the last quarter. Institutional investors own 91.98% of the company’s stock.

About Matador Resources

Matador Resources Company, an independent energy company, engages in the exploration, development, production, and acquisition of oil and natural gas resources in the United States. It operates through two segments, Exploration and Production; and Midstream. The company primarily holds interests in the Wolfcamp and Bone Spring plays in the Delaware Basin in Southeast New Mexico and West Texas.