TD Cowen Upgrades Matador Resources (NYSE:MTDR) to Strong-Buy

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

Several other research firms have also recently issued reports on MTDR. Raymond James Financial restated an “outperform” rating and set a $55.00 price objective (down previously from $63.00) on shares of Matador Resources in a report on Monday, October 20th. Morgan Stanley reduced their target price on Matador Resources from $56.00 to $52.00 and set an “equal weight” rating on the stock in a research report on Friday, January 23rd. KeyCorp restated an “overweight” rating on shares of Matador Resources in a report on Friday, December 19th. Wells Fargo & Company downgraded shares of Matador Resources from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $61.00 to $47.00 in a research note on Tuesday, January 27th. Finally, Citigroup began coverage on shares of Matador Resources in a report on Monday, December 8th. They set a “buy” rating and a $53.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $57.82.

Matador Resources Stock Performance

Shares of NYSE MTDR opened at $46.89 on Monday. The company has a market cap of $5.83 billion, a PE ratio of 7.49 and a beta of 1.14. Matador Resources has a 12 month low of $35.19 and a 12 month high of $60.43. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.73 and a quick ratio of 0.69. The company has a 50-day simple moving average of $43.37 and a 200-day simple moving average of $44.33.

Institutional Trading of Matador Resources

Institutional investors have recently modified their holdings of the company. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in 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 valued at $25,000 after buying an additional 400 shares in the last quarter. Kestra Investment Management LLC increased its position 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 worth $25,000 after acquiring an additional 358 shares in the last quarter. Allworth Financial LP raised its stake in shares of Matador Resources by 182.0% in the 2nd quarter. Allworth Financial LP now owns 564 shares of the energy company’s stock valued at $27,000 after acquiring an additional 364 shares during the period. Ameritas Advisory Services LLC acquired a new position in shares of Matador Resources during the 2nd quarter valued at $29,000. Finally, Rothschild Investment LLC lifted its holdings in shares of Matador Resources by 5,927.3% during the 3rd quarter. Rothschild Investment LLC now owns 663 shares of the energy company’s stock valued at $30,000 after acquiring an additional 652 shares in the last quarter. Hedge funds and other institutional investors own 91.98% of the company’s stock.

About Matador Resources

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.