Matador Resources (NYSE:MTDR) Upgraded by TD Cowen to “Strong-Buy” Rating

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

Several other research firms have also recently commented on MTDR. UBS Group lifted their target price on shares of Matador Resources from $46.00 to $50.00 and gave the stock a “neutral” rating in a research report on Friday, December 12th. Mizuho lifted their target price on Matador Resources from $67.00 to $70.00 and gave the stock an “outperform” rating in a research note on Friday, December 12th. Royal Bank Of Canada reduced their price target on shares of Matador Resources from $62.00 to $60.00 and set an “outperform” rating for the company in a research report on Tuesday, January 13th. Morgan Stanley lowered their price objective on shares of 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. Finally, BMO Capital Markets reissued an “outperform” rating on shares of Matador Resources in a report on Thursday, December 18th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $57.82.

Matador Resources Stock Performance

NYSE MTDR opened at $47.79 on Monday. The company has a fifty day moving average price of $43.29 and a 200-day moving average price of $44.36. The firm has a market cap of $5.94 billion, a price-to-earnings ratio of 7.63 and a beta of 1.14. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.73 and a quick ratio of 0.69. Matador Resources has a 1 year low of $35.19 and a 1 year high of $60.43.

Hedge Funds Weigh In On Matador Resources

A number of hedge funds and other institutional investors have recently bought and sold shares of MTDR. Geode Capital Management LLC raised its position in shares of Matador Resources by 0.8% during the 4th quarter. Geode Capital Management LLC now owns 2,236,457 shares of the energy company’s stock valued at $94,942,000 after buying an additional 18,729 shares in the last quarter. King Luther Capital Management Corp grew its position in Matador Resources by 26.8% in the fourth quarter. King Luther Capital Management Corp now owns 14,208 shares of the energy company’s stock worth $603,000 after acquiring an additional 3,000 shares in the last quarter. Royce & Associates LP increased its stake in Matador Resources by 6.5% in the fourth quarter. Royce & Associates LP now owns 316,915 shares of the energy company’s stock valued at $13,450,000 after acquiring an additional 19,363 shares during the last quarter. Fisher Asset Management LLC raised its position in Matador Resources by 1.9% during the fourth quarter. Fisher Asset Management LLC now owns 691,249 shares of the energy company’s stock valued at $29,337,000 after purchasing an additional 12,728 shares in the last quarter. Finally, Jefferies Financial Group Inc. purchased a new position in shares of Matador Resources in the 4th quarter worth about $3,382,000. 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.