Matador Resources (NYSE:MTDR) Given New $75.00 Price Target at TD Cowen

Matador Resources (NYSE:MTDR) had its price objective upped by equities research analysts at TD Cowen from $74.00 to $75.00 in a report issued on Thursday,Benzinga reports. The firm presently has a “buy” rating on the energy company’s stock. TD Cowen’s price objective points to a potential upside of 41.32% from the company’s current price.

Other equities analysts have also recently issued research reports about the company. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $70.00 price target on shares of Matador Resources in a report on Friday, December 6th. KeyCorp cut their target price on Matador Resources from $76.00 to $72.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. Mizuho decreased their price target on shares of Matador Resources from $74.00 to $73.00 and set an “outperform” rating on the stock in a research note on Monday, December 16th. Truist Financial lowered their price target on shares of Matador Resources from $86.00 to $75.00 and set a “buy” rating on the stock in a report on Monday, September 30th. Finally, Wells Fargo & Company raised their price objective on shares of Matador Resources from $87.00 to $91.00 and gave the stock an “overweight” rating in a report on Tuesday. Two investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $74.38.

Matador Resources Trading Up 0.9 %

Shares of MTDR stock opened at $53.07 on Thursday. The firm has a market capitalization of $6.62 billion, a P/E ratio of 7.03 and a beta of 3.26. Matador Resources has a 1 year low of $47.15 and a 1 year high of $71.08. The firm’s fifty day simple moving average is $55.56 and its 200 day simple moving average is $56.17. The company has a current ratio of 0.88, a quick ratio of 0.84 and a debt-to-equity ratio of 0.71.

Matador Resources (NYSE:MTDR) last posted its quarterly earnings data on Tuesday, October 22nd. The energy company reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.78 by $0.11. The company had revenue of $770.20 million for the quarter, compared to the consensus estimate of $836.69 million. Matador Resources had a net margin of 27.45% and a return on equity of 20.01%. The business’s revenue was up 9.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.86 EPS. As a group, sell-side analysts predict that Matador Resources will post 7.49 EPS for the current year.

Insider Transactions at Matador Resources

In other Matador Resources news, CEO Joseph Wm Foran bought 2,000 shares of the firm’s stock in a transaction dated Friday, December 6th. The shares were bought at an average price of $55.18 per share, for a total transaction of $110,360.00. Following the completion of the acquisition, 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 purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP William Thomas Elsener purchased 800 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The stock was acquired at an average cost of $56.60 per share, with a total value of $45,280.00. Following the completion of the acquisition, the executive vice president now directly owns 102,964 shares of the company’s stock, valued at $5,827,762.40. The trade was a 0.78 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 4,285 shares of company stock valued at $232,849. Corporate insiders own 6.10% of the company’s stock.

Hedge Funds Weigh In On Matador Resources

Large investors have recently modified their holdings of the stock. Denver PWM LLC bought a new position in Matador Resources in the 2nd quarter worth approximately $27,000. True Wealth Design LLC bought a new position in Matador Resources in the 3rd quarter valued at $37,000. Quarry LP increased its stake in shares of Matador Resources by 47.5% in the 2nd quarter. Quarry LP now owns 779 shares of the energy company’s stock valued at $46,000 after buying an additional 251 shares during the period. Avior Wealth Management LLC raised its position in shares of Matador Resources by 329.0% during the third quarter. Avior Wealth Management LLC now owns 828 shares of the energy company’s stock worth $41,000 after acquiring an additional 635 shares during the last quarter. Finally, Covestor Ltd lifted its stake in shares of Matador Resources by 154.8% during the third quarter. Covestor Ltd now owns 1,060 shares of the energy company’s stock valued at $52,000 after acquiring an additional 644 shares during the period. 91.98% of the stock is currently owned by institutional investors and hedge funds.

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.