Matador Resources (NYSE:MTDR) Stock Price Expected to Rise, UBS Group Analyst Says

by · The Markets Daily

Matador Resources (NYSE:MTDR – Get Free Report) had its price target increased by equities researchers at UBS Group from $56.00 to $64.00 in a research note issued on Monday, Benzinga reports. The firm currently has a “neutral” rating on the energy company’s stock. UBS Group’s target price would suggest a potential upside of 4.55% from the stock’s current price.

Other equities research analysts have also recently issued reports about the company. Zacks Research cut Matador Resources from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 25th. Roth Capital raised Matador Resources from a “neutral” rating to a “buy” rating and set a $65.00 price objective for the company in a research report on Monday, June 22nd. Stifel Nicolaus began coverage on shares of Matador Resources in a report on Thursday. They set a “buy” rating and a $66.00 target price on the stock. Truist Financial reduced their target price on shares of Matador Resources from $63.00 to $59.00 and set a “buy” rating on the stock in a research report on Monday, August 10th. Finally, Wall Street Zen upgraded shares of Matador Resources from a “hold” rating to a “buy” rating in a research note on Saturday, August 15th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $66.47.

Check Out Our Latest Stock Analysis on Matador Resources

Matador Resources Trading Up 0.3%

Shares of NYSE MTDR traded up $0.17 during midday trading on Monday, hitting $61.22. 1,563,314 shares of the company traded hands, compared to its average volume of 1,891,151. Matador Resources has a 12-month low of $37.14 and a 12-month high of $66.84. The firm has a market cap of $7.58 billion, a P/E ratio of 10.46 and a beta of 0.79. The stock has a 50-day moving average price of $54.02 and a 200 day moving average price of $55.62. 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 – Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The energy company reported $2.61 earnings per share for the quarter, beating the consensus estimate of $2.08 by $0.53. Matador Resources had a return on equity of 13.18% and a net margin of 19.85%.The business had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.06 billion. During the same period in the previous year, the firm posted $1.53 EPS. The business’s revenue was up 32.5% on a year-over-year basis. As a group, analysts expect that Matador Resources will post 7.55 earnings per share for the current year.

Insider Buying and Selling at Matador Resources

In other news, CFO Christopher P. Calvert purchased 2,500 shares of the business’s stock in a transaction dated Thursday, August 27th. The shares were purchased at an average price of $56.64 per share, for a total transaction of $141,600.00. Following the completion of the acquisition, the chief financial officer directly owned 44,000 shares in the company, valued at $2,492,160. This represents a 6.02% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Joseph Foran purchased 555 shares of Matador Resources stock in a transaction that occurred on Wednesday, August 26th. The shares were purchased at an average cost of $54.49 per share, with a total value of $30,241.95. Following the transaction, the chief executive officer directly owned 4,772 shares of the company’s stock, valued at $260,026.28. This represents a 13.16% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders bought 23,144 shares of company stock worth $1,211,793. 5.90% of the stock is owned by corporate insiders.

Institutional Trading of Matador Resources

Several institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. purchased a new position in shares of Matador Resources in the second quarter worth $573,936,000. Dimensional Fund Advisors LP boosted its position in shares of Matador Resources by 4.2% during the first quarter. Dimensional Fund Advisors LP now owns 6,948,104 shares of the energy company’s stock valued at $439,010,000 after buying an additional 277,839 shares during the last quarter. California State Teachers Retirement System boosted its position in shares of Matador Resources by 5,019.7% during the second quarter. California State Teachers Retirement System now owns 6,833,201 shares of the energy company’s stock valued at $340,157,000 after buying an additional 6,699,733 shares during the last quarter. State Street Corp increased its holdings in Matador Resources by 1.9% in the 4th quarter. State Street Corp now owns 4,617,864 shares of the energy company’s stock worth $195,982,000 after buying an additional 86,344 shares in the last quarter. Finally, LSV Asset Management increased its holdings in Matador Resources by 8.8% in the 4th quarter. LSV Asset Management now owns 3,842,011 shares of the energy company’s stock worth $163,055,000 after buying an additional 309,708 shares in the last quarter. 91.98% of the stock is currently owned by hedge funds and other institutional investors.

About Matador Resources

(Get Free Report)

Matador Resources Company is an independent energy company engaged in the exploration, development, production and acquisition of oil, natural gas and natural gas liquids. The company focuses primarily on unconventional, horizontal drilling and development activities in the United States.

Matador’s principal operations are concentrated in the Delaware Basin, a sub-basin of the Permian Basin in southeastern New Mexico and West Texas. Its activities include drilling and completing wells, producing hydrocarbons, and managing mineral and leasehold interests associated with its development programs.

Through its midstream operations, including San Mateo Midstream, Matador also provides gathering, processing, transportation and water-handling services that support oil and natural gas production in the Delaware Basin.

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