TD Cowen Forecasts Strong Price Appreciation for Matador Resources (NYSE:MTDR) Stock

Matador Resources (NYSE:MTDR) had its price target increased by analysts at TD Cowen from $74.00 to $75.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the energy company’s stock. TD Cowen’s price objective would suggest a potential upside of 41.70% from the stock’s previous close.

MTDR has been the subject of several other reports. Benchmark restated a “buy” rating and issued a $62.00 price target on shares of Matador Resources in a research note on Wednesday, October 23rd. Royal Bank of Canada restated an “outperform” rating and set a $70.00 target price on shares of Matador Resources in a research report on Friday, December 6th. Mizuho reduced their price target on shares of Matador Resources from $74.00 to $73.00 and set an “outperform” rating on the stock in a report on Monday. Wells Fargo & Company increased their price objective on shares of Matador Resources from $87.00 to $91.00 and gave the company an “overweight” rating in a report on Tuesday. Finally, Stephens lifted their target price on Matador Resources from $78.00 to $80.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $74.38.

Matador Resources Price Performance

NYSE:MTDR traded down $0.49 during trading hours on Thursday, hitting $52.93. 440,134 shares of the stock traded hands, compared to its average volume of 1,488,334. The company has a market cap of $6.60 billion, a price-to-earnings ratio of 7.01 and a beta of 3.26. Matador Resources has a 1 year low of $47.15 and a 1 year high of $71.08. The stock has a 50 day moving average price of $55.59 and a 200 day moving average price of $56.19. The company has a quick ratio of 0.84, a current ratio of 0.88 and a debt-to-equity ratio of 0.71.

Matador Resources (NYSE:MTDR) last issued its quarterly earnings results on Tuesday, October 22nd. The energy company reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.78 by $0.11. Matador Resources had a return on equity of 20.01% and a net margin of 27.45%. The business had revenue of $770.20 million during the quarter, compared to analyst estimates of $836.69 million. During the same quarter in the prior year, the business posted $1.86 EPS. Matador Resources’s revenue for the quarter was up 9.8% compared to the same quarter last year. Sell-side analysts forecast that Matador Resources will post 7.49 EPS for the current fiscal year.

Insiders Place Their Bets

In other Matador Resources news, EVP Glenn W. Stetson acquired 1,000 shares of the stock in a transaction that occurred on Wednesday, October 30th. The stock was bought at an average cost of $51.33 per share, with a total value of $51,330.00. Following the completion of the purchase, the executive vice president now directly owns 85,935 shares in the company, valued at $4,411,043.55. The trade was a 1.18 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP William Thomas Elsener acquired 800 shares of Matador Resources stock in a transaction that occurred on Friday, December 13th. The stock was acquired at an average cost of $56.60 per share, with a total value of $45,280.00. Following the purchase, the executive vice president now directly owns 102,964 shares of the company’s stock, valued at $5,827,762.40. This represents a 0.78 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired a total of 4,285 shares of company stock worth $232,849 over the last quarter. Company insiders own 6.10% of the company’s stock.

Institutional Trading of Matador Resources

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Denver PWM LLC acquired a new position in shares of Matador Resources during the second quarter worth $27,000. True Wealth Design LLC bought a new stake in shares of Matador Resources in the 3rd quarter worth approximately $37,000. Quarry LP raised its stake in Matador Resources by 47.5% during the 2nd quarter. Quarry LP now owns 779 shares of the energy company’s stock valued at $46,000 after purchasing an additional 251 shares during the last quarter. Avior Wealth Management LLC raised its holdings in Matador Resources by 329.0% in the 3rd quarter. Avior Wealth Management LLC now owns 828 shares of the energy company’s stock valued at $41,000 after acquiring an additional 635 shares in the last quarter. Finally, Covestor Ltd increased its position in shares of Matador Resources by 154.8% during the third quarter. Covestor Ltd now owns 1,060 shares of the energy company’s stock valued at $52,000 after purchasing an additional 644 shares during the period. Institutional investors own 91.98% of the company’s stock.

Matador Resources Company Profile

Matador Resources Company, an independent energy company, engages in the exploration, development, production, and acquisition of oil and natural gas resources in the United States. It operates through two segments, Exploration and Production; and Midstream. The company primarily holds interests in the Wolfcamp and Bone Spring plays in the Delaware Basin in Southeast New Mexico and West Texas.