Matador Resources (NYSE:MTDR) Raised to Outperform at Wolfe Research

Matador Resources (NYSE:MTDR - Get Free Report) was upgraded by equities researchers at Wolfe Research from a "peer perform" rating to an "outperform" rating in a research report issued on Friday, MarketBeat reports. The firm currently has a $72.00 price target on the energy company's stock. Wolfe Research's target price suggests a potential upside of 21.89% from the stock's current price.

Other equities research analysts have also recently issued research reports about the company. BMO Capital Markets increased their price objective on Matador Resources from $75.00 to $78.00 and gave the stock an "outperform" rating in a report on Friday, October 4th. Mizuho decreased their price target on shares of Matador Resources from $74.00 to $73.00 and set an "outperform" rating for the company in a research note on Monday, December 16th. TD Cowen raised their price target on shares of Matador Resources from $74.00 to $75.00 and gave the company a "buy" rating in a research report on Thursday, December 19th. Royal Bank of Canada reiterated an "outperform" rating and issued a $70.00 price target on shares of Matador Resources in a research note on Friday, December 6th. Finally, Truist Financial lowered their price objective on shares of Matador Resources from $86.00 to $75.00 and set a "buy" rating on the stock in a research report on Monday, September 30th. One investment analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, Matador Resources has an average rating of "Moderate Buy" and an average price target of $74.21.

Matador Resources Stock Performance

Shares of MTDR stock traded up $0.99 during trading on Friday, reaching $59.07. 1,119,147 shares of the company's stock traded hands, compared to its average volume of 1,007,374. The firm's 50-day moving average is $56.30 and its 200 day moving average is $55.96. 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 has a 1 year low of $47.15 and a 1 year high of $71.08. The company has a market capitalization of $7.37 billion, a P/E ratio of 7.82 and a beta of 3.26.

Matador Resources (NYSE:MTDR - Get Free Report) last announced its earnings results on Tuesday, October 22nd. The energy company reported $1.89 earnings per share 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 business had revenue of $770.20 million for the quarter, compared to the consensus estimate of $836.69 million. During the same period last year, the firm posted $1.86 earnings per share. Matador Resources's quarterly revenue was up 9.8% on a year-over-year basis. Equities research analysts expect that Matador Resources will post 7.49 EPS for the current year.

Insider Buying and Selling

In other Matador Resources news, EVP William Thomas Elsener purchased 800 shares of the stock in a transaction on Friday, December 13th. The stock was acquired at an average price of $56.60 per share, with a total value of $45,280.00. Following the completion of the acquisition, the executive vice president now owns 102,964 shares in the company, valued at $5,827,762.40. The trade was a 0.78 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Joseph Wm Foran purchased 2,000 shares of the business's stock in a transaction on 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 purchase, the chief executive officer now directly owns 42,251 shares in the company, valued at $2,331,410.18. This represents a 4.97 % increase in their position. The disclosure for this purchase can be found here. Insiders purchased 4,285 shares of company stock worth $232,849 in the last three months. 6.10% of the stock is owned by insiders.

Institutional Trading of Matador Resources

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MTDR. GAMMA Investing LLC lifted its holdings in shares of Matador Resources by 34.6% during the fourth quarter. GAMMA Investing LLC now owns 1,889 shares of the energy company's stock worth $106,000 after purchasing an additional 486 shares during the period. Denver PWM LLC increased its holdings in Matador Resources by 67.2% in the 3rd quarter. Denver PWM LLC now owns 754 shares of the energy company's stock worth $37,000 after buying an additional 303 shares during the period. American Trust raised its position in Matador Resources by 60.9% during the 3rd quarter. American Trust now owns 5,630 shares of the energy company's stock worth $278,000 after buying an additional 2,130 shares during the last quarter. Franklin Resources Inc. lifted its stake in Matador Resources by 12.0% during the 3rd quarter. Franklin Resources Inc. now owns 1,008,421 shares of the energy company's stock valued at $54,122,000 after acquiring an additional 107,827 shares during the period. Finally, Synovus Financial Corp boosted its holdings in shares of Matador Resources by 32.1% in the 3rd quarter. Synovus Financial Corp now owns 22,753 shares of the energy company's stock valued at $1,124,000 after acquiring an additional 5,529 shares during the last quarter. Institutional investors and hedge funds 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.