Truist Financial Forecasts Strong Price Appreciation for Matador Resources (NYSE:MTDR) Stock

Matador Resources (NYSE:MTDR) had its price target boosted by equities research analysts at Truist Financial from $59.00 to $65.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the energy company’s stock. Truist Financial’s target price suggests a potential upside of 17.54% from the stock’s previous close.

MTDR has been the subject of several other reports. Stephens raised their price objective on Matador Resources from $92.00 to $93.00 and gave the company an “overweight” rating in a research note on Tuesday, July 28th. Citigroup lowered their target price on shares of Matador Resources from $68.00 to $60.00 and set a “buy” rating for the company in a research note on Tuesday, August 11th. Seaport Research Partners initiated coverage on Matador Resources in a research note on Thursday, September 3rd. They set a “neutral” rating for the company. Weiss Ratings upgraded Matador Resources from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, October 8th. Finally, Roth Capital upgraded Matador Resources from a “neutral” rating to a “buy” rating and set a $65.00 price objective on the stock in a research note on Monday, June 22nd. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, Matador Resources has a consensus rating of “Moderate Buy” and a consensus target price of $67.13.

Matador Resources Price Performance

Matador Resources stock traded down $0.58 during mid-day trading on Wednesday, reaching $55.30. The company had a trading volume of 350,307 shares, compared to its average volume of 1,853,775. The company has a current ratio of 0.65, a quick ratio of 0.62 and a debt-to-equity ratio of 0.67. The business has a fifty day simple moving average of $55.47 and a 200 day simple moving average of $55.45. Matador Resources has a fifty-two week low of $37.14 and a fifty-two week high of $66.84. The company has a market cap of $6.84 billion, a P/E ratio of 9.48 and a beta of 0.98.

Matador Resources (NYSE:MTDR) last announced its quarterly earnings results on Wednesday, August 5th. The energy company reported $2.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.08 by $0.53. Matador Resources had a return on equity of 13.18% and a net margin of 19.85%. The business had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.06 billion. During the same quarter in the prior year, the company posted $1.53 earnings per share. Matador Resources’s revenue was up 32.5% compared to the same quarter last year. On average, equities research analysts predict that Matador Resources will post 7.50 earnings per share for the current year.

Insiders Place Their Bets

In other Matador Resources news, EVP William Elsener bought 850 shares of the firm’s stock in a transaction dated Monday, August 10th. The stock was bought at an average cost of $50.94 per share, with a total value of $43,299.00. Following the completion of the transaction, the executive vice president directly owned 114,879 shares in the company, valued at approximately $5,851,936.26. The trade was a 0.75% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Christopher Calvert acquired 2,500 shares of Matador Resources stock in a transaction on Thursday, August 27th. The shares were purchased at an average cost of $56.64 per share, with a total value of $141,600.00. Following the completion of the acquisition, the chief financial officer owned 44,000 shares of the company’s stock, valued at $2,492,160. This trade represents a 6.02% increase in their position. The SEC filing for this purchase provides additional information. Over the last quarter, insiders have bought 23,144 shares of company stock worth $1,211,793. Corporate insiders own 5.90% of the company’s stock.

Institutional Trading of Matador Resources

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Allworth Financial LP raised its holdings in Matador Resources by 16.1% in the 2nd quarter. Allworth Financial LP now owns 1,270 shares of the energy company’s stock valued at $63,000 after acquiring an additional 176 shares during the period. Altshuler Shaham Ltd grew its position in shares of Matador Resources by 36.7% during the 1st quarter. Altshuler Shaham Ltd now owns 748 shares of the energy company’s stock worth $47,000 after purchasing an additional 201 shares in the last quarter. Burford Brothers Inc. increased its holdings in shares of Matador Resources by 0.8% during the first quarter. Burford Brothers Inc. now owns 26,798 shares of the energy company’s stock worth $1,693,000 after purchasing an additional 225 shares during the period. HB Wealth Management LLC raised its position in shares of Matador Resources by 4.4% in the second quarter. HB Wealth Management LLC now owns 6,870 shares of the energy company’s stock valued at $342,000 after buying an additional 292 shares in the last quarter. Finally, Mitchell & Pahl Private Wealth LLC boosted its stake in shares of Matador Resources by 1.3% in the first quarter. Mitchell & Pahl Private Wealth LLC now owns 23,240 shares of the energy company’s stock valued at $1,468,000 after buying an additional 304 shares during the period. 91.98% of the stock is owned by hedge funds and other institutional investors.

Matador Resources Company Profile

Matador Resources Company is an independent energy company engaged in the exploration, development, production and acquisition of oil and natural gas properties. Its operations are focused primarily on unconventional, or shale, formations, with oil, natural gas and natural gas liquids among its principal products.

The company’s main exploration and production activities are concentrated in the Delaware Basin, part of the Permian Basin in southeastern New Mexico and West Texas. Matador has also historically held interests in other U.S.