Matador Resources (NYSE:MTDR) Given New $75.00 Price Target at Truist Financial

Matador Resources (NYSE:MTDR) had its price objective reduced by equities researchers at Truist Financial from $86.00 to $75.00 in a report issued on Monday, Benzinga reports. The brokerage currently has a “buy” rating on the energy company’s stock. Truist Financial’s target price indicates a potential upside of 52.84% from the stock’s previous close.

Several other equities analysts have also commented on MTDR. Mizuho decreased their price objective on shares of Matador Resources from $85.00 to $74.00 and set an “outperform” rating for the company in a research report on Monday, September 16th. TD Cowen raised their target price on Matador Resources from $85.00 to $87.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Capital One Financial upgraded shares of Matador Resources from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $80.00 to $84.00 in a research report on Thursday, July 25th. Stephens lifted their price target on shares of Matador Resources from $74.00 to $76.00 and gave the stock an “overweight” rating in a research note on Friday. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $75.00 price target on shares of Matador Resources in a report on Friday. Two equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, Matador Resources currently has a consensus rating of “Moderate Buy” and a consensus price target of $75.83.

Matador Resources Trading Down 0.6 %

MTDR stock traded down $0.29 during midday trading on Monday, hitting $49.07. The stock had a trading volume of 103,166 shares, compared to its average volume of 1,503,633. The business has a fifty day moving average price of $54.97 and a two-hundred day moving average price of $60.21. Matador Resources has a 1-year low of $47.15 and a 1-year high of $71.08. The firm has a market cap of $6.12 billion, a P/E ratio of 6.73 and a beta of 3.27. The company has a current ratio of 0.86, a quick ratio of 0.82 and a debt-to-equity ratio of 0.41.

Matador Resources (NYSE:MTDR) last announced its quarterly earnings results on Tuesday, July 23rd. The energy company reported $2.05 EPS for the quarter, beating analysts’ consensus estimates of $1.76 by $0.29. Matador Resources had a net margin of 29.01% and a return on equity of 21.12%. The company had revenue of $847.14 million for the quarter, compared to analysts’ expectations of $822.55 million. During the same period in the prior year, the company posted $1.42 EPS. Matador Resources’s revenue was up 32.8% compared to the same quarter last year. On average, sell-side analysts predict that Matador Resources will post 7.63 earnings per share for the current fiscal year.

Insider Buying and Selling at Matador Resources

In other news, CAO Robert T. Macalik acquired 500 shares of the company’s stock in a transaction dated Friday, August 2nd. The stock was acquired at an average cost of $54.50 per share, with a total value of $27,250.00. Following the completion of the purchase, the chief accounting officer now owns 29,300 shares of the company’s stock, valued at approximately $1,596,850. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Matador Resources news, CEO Joseph Wm Foran bought 2,000 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were purchased at an average price of $55.96 per share, with a total value of $111,920.00. Following the completion of the acquisition, the chief executive officer now directly owns 35,251 shares of the company’s stock, valued at approximately $1,972,645.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Robert T. Macalik acquired 500 shares of the stock in a transaction that occurred on Friday, August 2nd. The shares were bought at an average price of $54.50 per share, for a total transaction of $27,250.00. Following the purchase, the chief accounting officer now directly owns 29,300 shares of the company’s stock, valued at $1,596,850. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 12,300 shares of company stock worth $634,615. 6.10% of the stock is currently owned by insiders.

Institutional Trading of Matador Resources

Institutional investors have recently made changes to their positions in the business. Essex Investment Management Co. LLC increased its position in Matador Resources by 0.5% during the first quarter. Essex Investment Management Co. LLC now owns 37,532 shares of the energy company’s stock worth $2,506,000 after acquiring an additional 169 shares during the period. Securian Asset Management Inc. lifted its holdings in shares of Matador Resources by 1.9% in the second quarter. Securian Asset Management Inc. now owns 9,255 shares of the energy company’s stock worth $552,000 after buying an additional 170 shares in the last quarter. Raymond James Trust N.A. raised its stake in shares of Matador Resources by 3.6% during the second quarter. Raymond James Trust N.A. now owns 5,714 shares of the energy company’s stock worth $341,000 after acquiring an additional 198 shares in the last quarter. Covestor Ltd grew its holdings in shares of Matador Resources by 121.4% in the first quarter. Covestor Ltd now owns 414 shares of the energy company’s stock worth $28,000 after purchasing an additional 227 shares during the last quarter. Finally, Fifth Third Bancorp boosted its holdings in Matador Resources by 16.6% in the second quarter. Fifth Third Bancorp now owns 1,709 shares of the energy company’s stock valued at $102,000 after acquiring an additional 243 shares in the last quarter. 91.98% of the stock is currently owned by institutional investors and hedge funds.

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.