Matador Resources (NYSE:MTDR) Stock Gets Price Target Bump from Truist Financial

Matador Resources (NYSE:MTDR) had its target price boosted by equities researchers at Truist Financial from $65.00 to $66.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the energy company’s stock. Truist Financial‘s price objective points to a potential upside of 31.00% from the company’s previous close.

A number of other research analysts have also recently commented on MTDR. Wells Fargo & Company cut their price target on shares of Matador Resources from $77.00 to $76.00 and set an “overweight” rating on the stock in a report on Wednesday, October 14th. Seaport Research Partners began coverage on shares of Matador Resources in a research report on Thursday, September 3rd. They issued a “neutral” rating for the company. UBS Group upped their target price on shares of Matador Resources from $56.00 to $64.00 and gave the stock a “neutral” rating in a research note on Monday, September 14th. Morgan Stanley raised their target price on shares of Matador Resources from $66.00 to $69.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 15th. Finally, Weiss Ratings raised shares of Matador Resources from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, October 23rd. Twelve analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $68.50.

Matador Resources Trading Up 1.0%

Shares of MTDR stock traded up $0.51 on Thursday, reaching $50.38. 2,411,375 shares of the company’s stock were exchanged, compared to its average volume of 1,368,065. The company’s fifty day simple moving average is $56.21 and its 200 day simple moving average is $54.51. Matador Resources has a 52 week low of $37.74 and a 52 week high of $66.84. The company has a current ratio of 0.65, a quick ratio of 0.62 and a debt-to-equity ratio of 0.67. The stock has a market capitalization of $6.23 billion, a PE ratio of 8.69 and a beta of 0.93.

Matador Resources (NYSE:MTDR) last announced its quarterly earnings data on Tuesday, November 3rd. The energy company reported $2.08 EPS for the quarter, beating the consensus estimate of $1.85 by $0.23. Matador Resources had a return on equity of 13.18% and a net margin of 19.85%. The company had revenue of $1.39 billion for the quarter, compared to the consensus estimate of $1.12 billion. During the same quarter in the prior year, the company posted $1.36 EPS. Matador Resources’s quarterly revenue was up 33.9% on a year-over-year basis. As a group, analysts forecast that Matador Resources will post 8.12 EPS for the current year.

Insider Buying and Selling at Matador Resources

In other Matador Resources news, EVP William Elsener bought 900 shares of the company’s stock in a transaction on Thursday, November 5th. The shares were bought at an average cost of $51.48 per share, for a total transaction of $46,332.00. Following the acquisition, the executive vice president directly owned 115,779 shares in the company, valued at approximately $5,960,302.92. The trade was a 0.78% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Christopher Calvert bought 2,000 shares of the business’s stock in a transaction on Thursday, November 5th. The shares were acquired at an average cost of $52.57 per share, for a total transaction of $105,140.00. Following the transaction, the chief financial officer directly owned 46,000 shares in the company, valued at approximately $2,418,220. This trade represents a 4.55% increase in their position. The SEC filing for this purchase provides additional information. Insiders purchased 26,544 shares of company stock valued at $1,389,025 in the last ninety days. 5.90% of the stock is owned by insiders.

Institutional Trading of Matador Resources

A number of hedge funds have recently bought and sold shares of MTDR. V Square Quantitative Management LLC purchased a new position in shares of Matador Resources in the 1st quarter valued at $27,000. Root Financial Partners LLC purchased a new stake in shares of Matador Resources during the 3rd quarter worth $25,000. Center for Financial Planning Inc. bought a new stake in Matador Resources during the first quarter valued at about $41,000. Altshuler Shaham Ltd boosted its position in Matador Resources by 36.7% during the first quarter. Altshuler Shaham Ltd now owns 748 shares of the energy company’s stock valued at $47,000 after purchasing an additional 201 shares in the last quarter. Finally, Harbor Investment Advisory LLC bought a new stake in Matador Resources during the second quarter valued at about $44,000. Hedge funds and other institutional investors own 91.98% of the company’s stock.

Trending Headlines about Matador Resources

Here are the key news stories impacting Matador Resources this week:

• Positive Sentiment: Three executives bought shares on November 5: EVP William Elsener purchased 900 shares, CFO Christopher Calvert bought 2,000, and CAO Benjamin Colodney bought 500. Insider buying can signal confidence in the company’s prospects. Insider purchase report
• Positive Sentiment: Matador’s third-quarter results topped expectations: EPS was $2.08 versus $1.85 expected, while revenue reached $1.39 billion against $1.12 billion expected, up 33.9% year over year. The company also increased its quarterly dividend 17%, to $0.4375 per share. Q3 results presentation
• Positive Sentiment: Truist raised its price target to $66 from $65 and maintained a Buy rating; Stifel Nicolaus also reaffirmed its Buy rating. Stifel Nicolaus rating
• Neutral Sentiment: Scotiabank reaffirmed its Hold rating, suggesting a more cautious view alongside the recent Buy calls. Scotiabank rating
• Negative Sentiment: A recent Q3 review pointed to margin compression despite production growth. That could temper the positive earnings and revenue surprises if profitability remains under pressure. Q3 analysis

About Matador Resources

Matador Resources Company (NYSE: MTDR) 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, or shale, resource plays and operates across both upstream exploration and production and related midstream activities.

Matador’s principal exploration and production operations are located in the Delaware Basin in southeastern New Mexico and West Texas. Its midstream operations, conducted primarily through San Mateo Midstream, provide natural gas gathering and processing, crude oil and produced-water gathering, and water sourcing and disposal services that support the company’s operations and other producers in the region.

Founded in 2003 and headquartered in Dallas, Texas, Matador has historically expanded through development and acquisitions in U.S.