Matador Resources Company (NYSE:MTDR) Receives $59.09 Average Price Target from Analysts

Matador Resources Company (NYSE:MTDR) has been assigned a consensus recommendation of “Moderate Buy” from the fifteen brokerages that are currently covering the company, Marketbeat reports. Four analysts have rated the stock with a hold recommendation, ten have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among brokers that have covered the stock in the last year is $57.8182.

A number of brokerages recently issued reports on MTDR. Citigroup initiated coverage on Matador Resources in a research report on Monday, December 8th. They set a “buy” rating and a $53.00 price objective for the company. Weiss Ratings reiterated a “hold (c-)” rating on shares of Matador Resources in a research report on Friday, January 9th. UBS Group boosted their price target on shares of Matador Resources from $46.00 to $50.00 and gave the company a “neutral” rating in a research note on Friday, December 12th. Wells Fargo & Company cut shares of Matador Resources from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $61.00 to $47.00 in a research report on Tuesday. Finally, Morgan Stanley dropped their target price on shares of Matador Resources from $56.00 to $52.00 and set an “equal weight” rating for the company in a report on Friday, January 23rd.

Matador Resources Trading Up 1.5%

MTDR opened at $44.00 on Monday. The stock has a market capitalization of $5.47 billion, a PE ratio of 7.03 and a beta of 1.09. Matador Resources has a one year low of $35.19 and a one year high of $60.54. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.69 and a current ratio of 0.73. The business’s 50 day moving average price is $42.64 and its 200 day moving average price is $44.69.

Insiders Place Their Bets

In other news, CEO Joseph Wm Foran acquired 1,000 shares of the business’s stock in a transaction that occurred on Thursday, November 6th. The shares were purchased at an average price of $38.14 per share, for a total transaction of $38,140.00. Following the acquisition, the chief executive officer owned 23,867 shares of the company’s stock, valued at $910,287.38. This represents a 4.37% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Robert T. Macalik bought 1,500 shares of the firm’s stock in a transaction that occurred on Thursday, November 6th. The shares were purchased at an average cost of $38.25 per share, for a total transaction of $57,375.00. Following the purchase, the executive vice president owned 35,039 shares in the company, valued at $1,340,241.75. This represents a 4.47% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders acquired 22,907 shares of company stock valued at $888,209. Insiders own 5.80% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in MTDR. Jones Financial Companies Lllp lifted its holdings in Matador Resources by 1,104.8% during the 1st quarter. Jones Financial Companies Lllp now owns 2,012 shares of the energy company’s stock worth $103,000 after buying an additional 1,845 shares in the last quarter. Geneos Wealth Management Inc. increased its position in shares of Matador Resources by 361.3% during the first quarter. Geneos Wealth Management Inc. now owns 881 shares of the energy company’s stock worth $45,000 after acquiring an additional 690 shares during the period. Sivia Capital Partners LLC acquired a new stake in shares of Matador Resources in the second quarter valued at $255,000. Wealth Enhancement Advisory Services LLC boosted its holdings in Matador Resources by 129.9% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 30,920 shares of the energy company’s stock valued at $1,561,000 after purchasing an additional 17,471 shares during the period. Finally, Signaturefd LLC grew its stake in Matador Resources by 11.3% during the 2nd quarter. Signaturefd LLC now owns 3,032 shares of the energy company’s stock worth $145,000 after purchasing an additional 308 shares in 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.