Matador Resources (NYSE:MTDR) Earns Equal Weight Rating from Analysts at Morgan Stanley

Equities researchers at Morgan Stanley initiated coverage on shares of Matador Resources (NYSE:MTDR - Get Free Report) in a research note issued on Friday, Marketbeat.com reports. The brokerage set an "equal weight" rating and a $78.00 price target on the energy company's stock. Morgan Stanley's price target would suggest a potential upside of 27.04% from the company's current price.

Several other equities research analysts have also recently weighed in on the company. Wells Fargo & Company boosted their price objective on Matador Resources from $87.00 to $91.00 and gave the stock an "overweight" rating in a research note on Tuesday, December 17th. Truist Financial lowered their price objective on Matador Resources from $86.00 to $75.00 and set a "buy" rating for the company in a research report on Monday, September 30th. JPMorgan Chase & Co. decreased their target price on Matador Resources from $77.00 to $71.00 and set an "overweight" rating for the company in a report on Wednesday, October 30th. TD Cowen lifted their target price on shares of Matador Resources from $74.00 to $75.00 and gave the company a "buy" rating in a report on Thursday, December 19th. Finally, Royal Bank of Canada reiterated an "outperform" rating and issued a $70.00 target price on shares of Matador Resources in a research report on Friday, December 6th. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $74.79.

Matador Resources Stock Up 2.2 %

MTDR stock traded up $1.32 during midday trading on Friday, hitting $61.40. The stock had a trading volume of 1,512,103 shares, compared to its average volume of 1,190,434. The business has a 50-day moving average of $56.96 and a two-hundred day moving average of $56.02. The firm has a market cap of $7.66 billion, a price-to-earnings ratio of 8.13 and a beta of 3.24. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.88 and a quick ratio of 0.84. Matador Resources has a 52-week low of $47.15 and a 52-week high of $71.08.

Matador Resources (NYSE:MTDR - Get Free Report) last announced its quarterly earnings results on Tuesday, October 22nd. The energy company reported $1.89 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.78 by $0.11. Matador Resources had a net margin of 27.45% and a return on equity of 20.01%. The firm had revenue of $770.20 million for the quarter, compared to the consensus estimate of $836.69 million. During the same quarter last year, the firm posted $1.86 EPS. The business's quarterly revenue was up 9.8% compared to the same quarter last year. As a group, equities research analysts forecast that Matador Resources will post 7.49 earnings per share for the current fiscal year.

Insider Buying and Selling at Matador Resources

In other news, CEO Joseph Wm Foran purchased 2,000 shares of Matador Resources stock in a transaction on Friday, December 6th. The stock was purchased at an average price of $55.18 per share, with a total value of $110,360.00. Following the transaction, the chief executive officer now directly owns 42,251 shares in the company, valued at $2,331,410.18. The trade was a 4.97 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP William Thomas Elsener purchased 800 shares of the stock in a transaction on Friday, December 13th. The shares were bought at an average cost of $56.60 per share, for a total transaction of $45,280.00. Following the transaction, the executive vice president now directly owns 102,964 shares in the company, valued at approximately $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. Insiders acquired 4,285 shares of company stock worth $232,849 over the last ninety days. 6.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in MTDR. Dimensional Fund Advisors LP lifted its position in shares of Matador Resources by 8.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,734,819 shares of the energy company's stock valued at $282,196,000 after acquiring an additional 356,506 shares during the period. Victory Capital Management Inc. raised its position in shares of Matador Resources by 2.7% in the 3rd quarter. Victory Capital Management Inc. now owns 2,752,102 shares of the energy company's stock worth $136,009,000 after acquiring an additional 72,077 shares in the last quarter. Clearbridge Investments LLC lifted its position in shares of Matador Resources by 10.5% during the 2nd quarter. Clearbridge Investments LLC now owns 2,250,036 shares of the energy company's stock valued at $134,102,000 after acquiring an additional 214,334 shares during the period. Geode Capital Management LLC grew its stake in Matador Resources by 1.9% in the third quarter. Geode Capital Management LLC now owns 2,008,730 shares of the energy company's stock valued at $99,297,000 after acquiring an additional 36,921 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Matador Resources by 4.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,434,926 shares of the energy company's stock worth $70,914,000 after acquiring an additional 57,254 shares in the last quarter. 91.98% of the stock is currently owned by institutional investors.

Matador Resources Company Profile

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.