Matador Resources (NYSE:MTDR – Get Free Report) had its price objective reduced by investment analysts at Truist Financial from $67.00 to $63.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has a “buy” rating on the energy company’s stock. Truist Financial’s price target would indicate a potential upside of 17.95% from the stock’s current price.
A number of other equities analysts have also commented on MTDR. KeyCorp lifted their price objective on Matador Resources from $61.00 to $73.00 and gave the stock an “overweight” rating in a research note on Thursday, April 2nd. Roth Capital upgraded shares of Matador Resources from a “neutral” rating to a “buy” rating and set a $65.00 price objective on the stock in a report on Monday, June 22nd. BMO Capital Markets lifted their target price on Matador Resources from $65.00 to $72.00 and gave the stock an “outperform” rating in a research report on Monday, April 6th. Wells Fargo & Company raised their price objective on Matador Resources from $54.00 to $63.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 16th. Finally, Zacks Research cut Matador Resources from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 25th. Eleven analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $64.08.
Get Our Latest Stock Analysis on Matador Resources
Matador Resources Stock Up 1.5%
Matador Resources (NYSE:MTDR – Get Free Report) last posted its earnings results on Wednesday, May 6th. The energy company reported $1.53 earnings per share for the quarter, topping the consensus estimate of $1.24 by $0.29. Matador Resources had a return on equity of 11.20% and a net margin of 14.41%.The firm had revenue of $941.60 million during the quarter, compared to analyst estimates of $871.57 million. During the same period in the previous year, the company earned $1.99 EPS. The company’s revenue for the quarter was down 33.8% on a year-over-year basis. On average, equities research analysts forecast that Matador Resources will post 7.06 EPS for the current fiscal year.
Insider Transactions at Matador Resources
In other news, COO Glenn W. Stetson purchased 500 shares of Matador Resources stock in a transaction on Tuesday, June 9th. The shares were purchased at an average cost of $53.41 per share, for a total transaction of $26,705.00. Following the completion of the transaction, the chief operating officer directly owned 95,470 shares in the company, valued at approximately $5,099,052.70. This represents a 0.53% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Christopher P. Calvert acquired 1,500 shares of the company’s stock in a transaction dated Friday, May 29th. The shares were purchased at an average cost of $53.24 per share, with a total value of $79,860.00. Following the acquisition, the chief financial officer owned 41,500 shares of the company’s stock, valued at approximately $2,209,460. This represents a 3.75% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders have bought 11,907 shares of company stock valued at $635,712. 5.90% of the stock is owned by insiders.
Hedge Funds Weigh In On Matador Resources
A number of institutional investors and hedge funds have recently bought and sold shares of MTDR. Harbor Capital Advisors Inc. increased its position in Matador Resources by 184.9% in the 4th quarter. Harbor Capital Advisors Inc. now owns 30,836 shares of the energy company’s stock valued at $1,309,000 after acquiring an additional 20,011 shares in the last quarter. Wedge Capital Management L L P NC raised its position in Matador Resources by 25.5% in the 4th quarter. Wedge Capital Management L L P NC now owns 78,035 shares of the energy company’s stock worth $3,312,000 after purchasing an additional 15,859 shares during the last quarter. Peterson Wealth Services lifted its holdings in Matador Resources by 333.7% during the 4th quarter. Peterson Wealth Services now owns 51,356 shares of the energy company’s stock worth $2,180,000 after buying an additional 39,516 shares in the last quarter. Thrivent Financial for Lutherans lifted its holdings in Matador Resources by 2.1% during the 4th quarter. Thrivent Financial for Lutherans now owns 1,054,232 shares of the energy company’s stock worth $44,742,000 after buying an additional 21,630 shares in the last quarter. Finally, Value Holdings Management CO. LLC boosted its position in Matador Resources by 10.9% in the 4th quarter. Value Holdings Management CO. LLC now owns 768,308 shares of the energy company’s stock valued at $32,607,000 after buying an additional 75,300 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.
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