Matador Resources (NYSE:MTDR) Coverage Initiated at Truist Financial

Equities research analysts at Truist Financial assumed coverage on shares of Matador Resources (NYSE:MTDR) in a research note issued to investors on Tuesday, MarketBeat reports. The brokerage set a “hold” rating and a $60.00 price target on the energy company’s stock. Truist Financial’s price objective would indicate a potential downside of 1.68% from the stock’s previous close.

MTDR has been the topic of several other reports. Mizuho lifted their price target on shares of Matador Resources from $67.00 to $70.00 and gave the stock an “outperform” rating in a research note on Friday, December 12th. UBS Group upped their price objective on shares of Matador Resources from $50.00 to $52.00 and gave the company a “neutral” rating in a research note on Thursday, March 5th. Royal Bank Of Canada reduced their target price on shares of Matador Resources from $62.00 to $60.00 and set an “outperform” rating on the stock in a report on Tuesday, January 13th. Weiss Ratings reissued a “hold (c-)” rating on shares of Matador Resources in a research note on Friday, January 9th. Finally, TD Cowen upped their price target on shares of Matador Resources from $60.00 to $65.00 and gave the company a “buy” rating in a research report on Tuesday, March 17th. Eleven research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, Matador Resources currently has a consensus rating of “Moderate Buy” and an average price target of $60.29.

Matador Resources Price Performance

MTDR opened at $61.03 on Tuesday. The company has a current ratio of 0.79, a quick ratio of 0.75 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $7.58 billion, a P/E ratio of 10.00 and a beta of 1.07. The stock has a 50-day moving average price of $50.20 and a 200-day moving average price of $45.49. Matador Resources has a 12-month low of $35.19 and a 12-month high of $61.48.

Matador Resources (NYSE:MTDR) last announced its quarterly earnings data on Tuesday, February 24th. The energy company reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.71 by $0.16. The company had revenue of $847.99 million for the quarter, compared to analysts’ expectations of $811.13 million. Matador Resources had a return on equity of 12.36% and a net margin of 20.54%.Matador Resources’s revenue for the quarter was down 15.7% compared to the same quarter last year. During the same period last year, the firm posted $1.83 EPS. Equities analysts predict that Matador Resources will post 8.53 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Matador Resources

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Adage Capital Partners GP L.L.C. boosted its position in Matador Resources by 143.1% during the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 2,556,472 shares of the energy company’s stock valued at $121,995,000 after buying an additional 1,505,000 shares during the period. CIBC Bancorp USA Inc. purchased a new position in shares of Matador Resources in the third quarter valued at about $61,615,000. Wellington Management Group LLP raised its stake in shares of Matador Resources by 65.0% during the fourth quarter. Wellington Management Group LLP now owns 3,406,182 shares of the energy company’s stock valued at $144,558,000 after acquiring an additional 1,342,145 shares during the last quarter. Encompass Capital Advisors LLC bought a new position in shares of Matador Resources during the fourth quarter valued at about $53,249,000. Finally, Balyasny Asset Management L.P. boosted its holdings in shares of Matador Resources by 2,495.0% during the fourth quarter. Balyasny Asset Management L.P. now owns 552,856 shares of the energy company’s stock worth $23,463,000 after purchasing an additional 531,551 shares during the period. 91.98% of the stock is currently owned by institutional investors.

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.