Matador Resources (NYSE:MTDR) Raised to “Strong-Buy” at Wall Street Zen

Matador Resources (NYSE:MTDR) was upgraded by research analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.

Other equities analysts also recently issued research reports about the stock. Morgan Stanley boosted their price target on shares of Matador Resources from $66.00 to $69.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 15th. Mizuho decreased their price objective on Matador Resources from $77.00 to $71.00 and set an “outperform” rating for the company in a research report on Monday, October 19th. KeyCorp upped their target price on shares of Matador Resources from $68.00 to $73.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 15th. Citigroup decreased their target price on shares of Matador Resources from $68.00 to $60.00 and set a “buy” rating on the stock in a research report on Tuesday, August 11th. Finally, Scotiabank initiated coverage on shares of Matador Resources in a report on Thursday, October 15th. They issued a “sector perform” rating and a $59.00 target price for the company. Twelve analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $68.50.

Matador Resources Price Performance

Matador Resources stock opened at $50.38 on Friday. The company has a quick ratio of 0.62, a current ratio of 0.65 and a debt-to-equity ratio of 0.67. The stock has a market cap of $6.23 billion, a price-to-earnings ratio of 8.69 and a beta of 0.93. The business has a 50-day simple moving average of $56.21 and a 200 day simple moving average of $54.51. Matador Resources has a 52 week low of $37.74 and a 52 week high of $66.84.

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

Insider Activity

In other news, CEO Joseph Foran bought 10,000 shares of the firm’s stock in a transaction on Wednesday, August 12th. The stock was bought at an average cost of $52.16 per share, for a total transaction of $521,600.00. Following the completion of the acquisition, the chief executive officer directly owned 25,617 shares in the company, valued at $1,336,182.72. This represents a 64.03% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP William Elsener acquired 900 shares of the stock in a transaction dated Thursday, November 5th. The stock was bought at an average price of $51.48 per share, for a total transaction of $46,332.00. Following the purchase, the executive vice president owned 115,779 shares of the company’s stock, valued at $5,960,302.92. The trade was a 0.78% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders bought 26,544 shares of company stock worth $1,389,025. Company insiders own 5.90% of the company’s stock.

Hedge Funds Weigh In On Matador Resources

Hedge funds and other institutional investors have recently made changes to their positions in the company. Diversified Trust Co lifted its stake in shares of Matador Resources by 1.8% in the third quarter. Diversified Trust Co now owns 24,436 shares of the energy company’s stock valued at $1,260,000 after buying an additional 434 shares in the last quarter. Allworth Financial LP raised its position in shares of Matador Resources by 27.6% in the 3rd quarter. Allworth Financial LP now owns 1,621 shares of the energy company’s stock worth $81,000 after acquiring an additional 351 shares in the last quarter. Russell Investments Group Ltd. grew its stake in shares of Matador Resources by 60.9% in the 3rd quarter. Russell Investments Group Ltd. now owns 185,598 shares of the energy company’s stock worth $9,573,000 after buying an additional 70,256 shares during the last quarter. Fifth Third Bancorp lifted its stake in Matador Resources by 33.3% during the 3rd quarter. Fifth Third Bancorp now owns 150,931 shares of the energy company’s stock valued at $7,785,000 after acquiring an additional 37,676 shares during the period. Finally, Alpha Wealth Funds LLC purchased a new stake in Matador Resources in the third quarter worth about $304,000. 91.98% of the stock is currently owned by institutional investors and hedge funds.

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

Matador Resources Company Profile

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.