Matador Resources (NYSE:MTDR) Coverage Initiated at Citigroup

Research analysts at Citigroup began coverage on shares of Matador Resources (NYSE:MTDR) in a report released on Monday, MarketBeat Ratings reports. The brokerage set a “buy” rating and a $53.00 price target on the energy company’s stock. Citigroup’s price objective indicates a potential upside of 18.94% from the stock’s current price.

A number of other equities analysts have also commented on the stock. Bank of America lowered their price target on shares of Matador Resources from $55.00 to $50.00 and set a “buy” rating on the stock in a research report on Monday, November 3rd. UBS Group lowered their target price on shares of Matador Resources from $48.00 to $46.00 and set a “neutral” rating on the stock in a report on Thursday, October 23rd. Mizuho cut their price target on Matador Resources from $69.00 to $67.00 and set an “outperform” rating for the company in a research note on Friday, October 10th. Raymond James Financial reissued an “outperform” rating and set a $55.00 price target (down previously from $63.00) on shares of Matador Resources in a research report on Monday, October 20th. Finally, Royal Bank Of Canada raised their price objective on Matador Resources from $60.00 to $62.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $62.87.

Matador Resources Price Performance

Shares of NYSE MTDR opened at $44.56 on Monday. The firm has a market cap of $5.54 billion, a P/E ratio of 7.12 and a beta of 1.11. The business’s 50 day moving average is $41.82 and its 200-day moving average is $46.12. The company has a current ratio of 0.73, a quick ratio of 0.69 and a debt-to-equity ratio of 0.55. Matador Resources has a 1-year low of $35.19 and a 1-year high of $64.04.

Matador Resources (NYSE:MTDR) last issued its quarterly earnings data on Tuesday, October 21st. The energy company reported $1.36 EPS for the quarter, beating analysts’ consensus estimates of $1.22 by $0.14. Matador Resources had a return on equity of 14.80% and a net margin of 20.46%.The firm had revenue of $939.02 million for the quarter, compared to analyst estimates of $893.22 million. During the same period in the prior year, the firm posted $1.89 EPS. The company’s revenue for the quarter was up 4.4% on a year-over-year basis. Equities research analysts predict that Matador Resources will post 8.53 earnings per share for the current year.

Insider Buying and Selling

In other Matador Resources news, CEO Joseph Wm Foran acquired 9,500 shares of the company’s stock in a transaction that occurred on Thursday, October 30th. The stock was acquired at an average cost of $39.78 per share, for a total transaction of $377,910.00. Following the transaction, the chief executive officer directly owned 17,525 shares in the company, valued at $697,144.50. This represents a 118.38% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Shelley F. Appel acquired 1,784 shares of Matador Resources stock in a transaction that occurred on Thursday, October 30th. The stock was acquired at an average cost of $39.85 per share, for a total transaction of $71,092.40. Following the completion of the purchase, the director directly owned 1,784 shares of the company’s stock, valued at $71,092.40. This represents a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last 90 days, insiders have purchased 41,726 shares of company stock worth $1,674,234. 5.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Matador Resources

A number of institutional investors have recently added to or reduced their stakes in the stock. MAI Capital Management grew its stake in shares of Matador Resources by 13.9% during the second quarter. MAI Capital Management now owns 1,726 shares of the energy company’s stock worth $82,000 after buying an additional 210 shares during the last quarter. Beacon Pointe Advisors LLC boosted its holdings in shares of Matador Resources by 4.3% during the 2nd quarter. Beacon Pointe Advisors LLC now owns 5,281 shares of the energy company’s stock valued at $252,000 after acquiring an additional 216 shares in the last quarter. ProShare Advisors LLC boosted its holdings in shares of Matador Resources by 4.5% during the 2nd quarter. ProShare Advisors LLC now owns 5,163 shares of the energy company’s stock valued at $246,000 after acquiring an additional 220 shares in the last quarter. Fiduciary Trust Co grew its position in Matador Resources by 2.2% during the 3rd quarter. Fiduciary Trust Co now owns 11,821 shares of the energy company’s stock worth $531,000 after acquiring an additional 253 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB increased its holdings in Matador Resources by 93.0% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 554 shares of the energy company’s stock worth $26,000 after purchasing an additional 267 shares in the last quarter. 91.98% of the stock is currently owned by institutional investors and hedge funds.

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.