Matador Resources (NYSE:MTDR) Now Covered by Analysts at Morgan Stanley

Equities research analysts at Morgan Stanley began coverage on shares of Matador Resources (NYSE:MTDR) in a report released on Friday,Benzinga reports. The firm set an “equal weight” rating and a $78.00 price target on the energy company’s stock. Morgan Stanley’s price target points to a potential upside of 30.17% from the company’s current price.

A number of other equities analysts have also recently weighed in on the company. Mizuho lowered their price target on Matador Resources from $74.00 to $73.00 and set an “outperform” rating for the company in a report on Monday, December 16th. BMO Capital Markets increased their target price on shares of Matador Resources from $75.00 to $78.00 and gave the stock an “outperform” rating in a research note on Friday, October 4th. Benchmark reiterated a “buy” rating and set a $62.00 price target on shares of Matador Resources in a research report on Wednesday, October 23rd. Truist Financial decreased their price objective on shares of Matador Resources from $86.00 to $75.00 and set a “buy” rating on the stock in a report on Monday, September 30th. Finally, KeyCorp dropped their target price on shares of Matador Resources from $76.00 to $72.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $74.79.

Matador Resources Stock Performance

NYSE:MTDR opened at $59.92 on Friday. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.88 and a quick ratio of 0.84. The firm has a market capitalization of $7.48 billion, a price-to-earnings ratio of 7.94 and a beta of 3.24. The company’s 50-day moving average is $56.96 and its two-hundred day moving average is $56.02. Matador Resources has a 1-year low of $47.15 and a 1-year high of $71.08.

Matador Resources (NYSE:MTDR) last released its quarterly earnings results on Tuesday, October 22nd. The energy company reported $1.89 EPS for the quarter, beating the consensus estimate of $1.78 by $0.11. The firm had revenue of $770.20 million for the quarter, compared to analyst estimates of $836.69 million. Matador Resources had a net margin of 27.45% and a return on equity of 20.01%. The business’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.86 EPS. Analysts forecast that Matador Resources will post 7.49 EPS for the current year.

Insider Buying and Selling

In other Matador Resources news, EVP Glenn W. Stetson purchased 1,000 shares of the firm’s stock in a transaction 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 acquisition, the executive vice president now directly owns 85,935 shares of the company’s stock, valued at approximately $4,411,043.55. This represents a 1.18 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP William Thomas Elsener acquired 800 shares of the company’s stock in a transaction dated Friday, December 13th. The stock was acquired at an average price of $56.60 per share, for a total transaction of $45,280.00. Following the acquisition, the executive vice president now owns 102,964 shares in the company, valued at approximately $5,827,762.40. The trade was a 0.78 % increase in their position. The disclosure for this purchase can be found here. Insiders bought 4,285 shares of company stock worth $232,849 over the last 90 days. 6.10% of the stock is owned by insiders.

Institutional Trading of Matador Resources

Institutional investors have recently modified their holdings of the stock. True Wealth Design LLC acquired a new stake in Matador Resources during the 3rd quarter worth $37,000. Denver PWM LLC grew its holdings in shares of Matador Resources by 67.2% during the third quarter. Denver PWM LLC now owns 754 shares of the energy company’s stock worth $37,000 after purchasing an additional 303 shares during the last quarter. Avior Wealth Management LLC increased its position in shares of Matador Resources by 329.0% during the third quarter. Avior Wealth Management LLC now owns 828 shares of the energy company’s stock worth $41,000 after purchasing an additional 635 shares in the last quarter. Quarry LP lifted its holdings in shares of Matador Resources by 47.5% in 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. Finally, Covestor Ltd boosted its position in shares of Matador Resources by 154.8% in the 3rd 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. Hedge funds and other institutional investors own 91.98% of the company’s stock.

About Matador Resources

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.