Matador Resources (NYSE:MTDR) Stock Rating Upgraded by TD Cowen

Matador Resources (NYSE:MTDR) was upgraded by TD Cowen to a “strong-buy” rating in a research report issued on Monday,Zacks.com reports.

A number of other analysts have also recently commented on the company. BMO Capital Markets reaffirmed an “outperform” rating on shares of Matador Resources in a research note on Thursday, December 18th. Bank of America dropped their price objective on Matador Resources from $55.00 to $50.00 and set a “buy” rating on the stock in a research note on Monday, November 3rd. Citigroup initiated coverage on Matador Resources in a research note on Monday, December 8th. They issued a “buy” rating and a $53.00 target price for the company. Royal Bank Of Canada decreased their price objective on Matador Resources from $62.00 to $60.00 and set an “outperform” rating for the company in a research report on Tuesday, January 13th. Finally, Wells Fargo & Company cut shares of Matador Resources from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $61.00 to $47.00 in a research report on Tuesday, January 27th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $57.82.

Matador Resources Price Performance

NYSE:MTDR opened at $47.79 on Monday. The company’s 50-day moving average price is $43.29 and its two-hundred day moving average price is $44.36. Matador Resources has a 12 month low of $35.19 and a 12 month high of $60.43. The firm has a market cap of $5.94 billion, a PE ratio of 7.63 and a beta of 1.14. The company has a quick ratio of 0.69, a current ratio of 0.73 and a debt-to-equity ratio of 0.55.

Hedge Funds Weigh In On Matador Resources

Several institutional investors and hedge funds have recently made changes to their positions in the company. Kestra Investment Management LLC grew its stake in shares of Matador Resources by 225.2% in the second quarter. Kestra Investment Management LLC now owns 517 shares of the energy company’s stock valued at $25,000 after acquiring an additional 358 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of Matador Resources by 298.5% during the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 534 shares of the energy company’s stock worth $25,000 after purchasing an additional 400 shares during the period. Allworth Financial LP raised its position in shares of Matador Resources by 182.0% during the second quarter. Allworth Financial LP now owns 564 shares of the energy company’s stock worth $27,000 after acquiring an additional 364 shares during the last quarter. Ameritas Advisory Services LLC acquired a new position in shares of Matador Resources in the 2nd quarter worth approximately $29,000. Finally, Rothschild Investment LLC boosted its position in Matador Resources by 5,927.3% during the third quarter. Rothschild Investment LLC now owns 663 shares of the energy company’s stock valued at $30,000 after acquiring an additional 652 shares during the last quarter. Institutional investors and hedge funds own 91.98% of the company’s stock.

Matador Resources Company Profile

Matador Resources Company is an independent energy firm primarily engaged in the exploration, development and production of oil, natural gas liquids (NGLs) and natural gas. The company focuses on upstream operations, utilizing horizontal drilling and hydraulic fracturing techniques to unlock hydrocarbons from key reservoirs. Its asset base includes both operated and non‐operated positions, with a particular emphasis on the Permian Basin, one of the most prolific oil-producing regions in North America.

Matador’s core operations are concentrated in the Delaware Basin segment of the Permian Basin, where it holds substantial acreage in both Reeves and Culberson counties in West Texas and Eddy and Lea counties in New Mexico.