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

Matador Resources (NYSE:MTDR - Get Free Report)'s stock had its "buy" rating restated by equities researchers at Benchmark in a research note issued to investors on Wednesday, Benzinga reports. They currently have a $62.00 price target on the energy company's stock. Benchmark's target price indicates a potential upside of 22.17% from the company's previous close.

Several other equities research analysts have also issued reports on the stock. KeyCorp dropped their price objective on shares of Matador Resources from $76.00 to $72.00 and set an "overweight" rating for the company in a research report on Wednesday, October 16th. JPMorgan Chase & Co. dropped their price objective on shares of Matador Resources from $83.00 to $76.00 and set an "overweight" rating for the company in a research report on Thursday, September 12th. Royal Bank of Canada reissued an "outperform" rating and issued a $75.00 price objective on shares of Matador Resources in a research report on Friday, September 27th. BMO Capital Markets increased their price objective on shares of Matador Resources from $75.00 to $78.00 and gave the stock an "outperform" rating in a research report on Friday, October 4th. Finally, Wolfe Research assumed coverage on shares of Matador Resources in a research report on Thursday, July 18th. They issued a "peer perform" rating for the company. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $75.69.

Matador Resources Trading Up 0.8 %

NYSE:MTDR traded up $0.42 during trading hours on Wednesday, reaching $50.75. 3,530,797 shares of the company were exchanged, compared to its average volume of 1,513,097. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.86 and a quick ratio of 0.82. The firm has a market cap of $6.33 billion, a price-to-earnings ratio of 6.95 and a beta of 3.26. Matador Resources has a 52-week low of $47.15 and a 52-week high of $71.08. The stock has a 50 day simple moving average of $53.03 and a 200 day simple moving average of $58.41.

Matador Resources (NYSE:MTDR - Get Free Report) last released 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. Matador Resources had a net margin of 29.01% and a return on equity of 21.12%. The company had revenue of $770.20 million during the quarter, compared to analyst estimates of $836.69 million. During the same quarter in the prior year, the business earned $1.86 earnings per share. The business's quarterly revenue was up 9.8% compared to the same quarter last year. As a group, analysts predict that Matador Resources will post 7.4 EPS for the current year.

Insiders Place Their Bets

In related news, CAO Robert T. Macalik acquired 500 shares of the firm's stock in a transaction on Friday, August 2nd. The stock was bought at an average cost of $54.50 per share, with a total value of $27,250.00. Following the acquisition, the chief accounting officer now directly owns 29,300 shares in the company, valued at approximately $1,596,850. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Matador Resources news, CAO Robert T. Macalik purchased 500 shares of Matador Resources stock in a transaction dated Friday, August 2nd. The shares were bought at an average cost of $54.50 per share, for a total transaction of $27,250.00. Following the transaction, the chief accounting officer now owns 29,300 shares in the company, valued at $1,596,850. This represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Joseph Wm Foran purchased 2,000 shares of Matador Resources stock in a transaction dated Friday, August 2nd. The stock was acquired at an average price of $55.96 per share, for a total transaction of $111,920.00. Following the completion of the transaction, the chief executive officer now owns 35,251 shares in the company, valued at approximately $1,972,645.96. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders purchased a total of 12,300 shares of company stock valued at $634,615 in the last ninety days. Corporate insiders own 6.10% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Janney Montgomery Scott LLC bought a new stake in Matador Resources in the 1st quarter valued at about $828,000. Prevail Innovative Wealth Advisors LLC lifted its position in Matador Resources by 28.6% in the 1st quarter. Prevail Innovative Wealth Advisors LLC now owns 37,163 shares of the energy company's stock valued at $2,481,000 after purchasing an additional 8,254 shares during the last quarter. Capstone Investment Advisors LLC lifted its position in Matador Resources by 1,029.1% in the 1st quarter. Capstone Investment Advisors LLC now owns 76,032 shares of the energy company's stock valued at $5,077,000 after purchasing an additional 69,298 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in Matador Resources by 5.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,104,791 shares of the energy company's stock valued at $73,768,000 after purchasing an additional 53,322 shares during the last quarter. Finally, Vanguard Group Inc. lifted its position in Matador Resources by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 11,124,705 shares of the energy company's stock valued at $742,797,000 after purchasing an additional 103,713 shares during the last quarter. 91.98% of the stock is currently owned by institutional investors.

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.