KeyCorp Boosts Matador Resources (NYSE:MTDR) Price Target to $76.00

Matador Resources (NYSE:MTDR) had its price target upped by stock analysts at KeyCorp from $71.00 to $76.00 in a report released on Monday, Benzinga reports. The brokerage presently has an “overweight” rating on the energy company’s stock. KeyCorp’s price objective suggests a potential upside of 16.58% from the stock’s current price.

Other analysts also recently issued reports about the stock. StockNews.com raised shares of Matador Resources from a “sell” rating to a “hold” rating in a report on Thursday, February 22nd. JPMorgan Chase & Co. increased their price target on shares of Matador Resources from $76.00 to $77.00 and gave the stock an “overweight” rating in a report on Thursday, April 11th. Royal Bank of Canada reissued an “outperform” rating and set a $70.00 price target on shares of Matador Resources in a report on Tuesday, March 5th. Truist Financial upped their price objective on shares of Matador Resources from $82.00 to $85.00 and gave the stock a “buy” rating in a research report on Friday, April 5th. Finally, Wells Fargo & Company upped their price objective on shares of Matador Resources from $76.00 to $85.00 and gave the stock an “overweight” rating in a research report on Thursday, April 18th. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, Matador Resources has a consensus rating of “Moderate Buy” and an average target price of $73.90.

Matador Resources Stock Up 0.8 %

MTDR stock opened at $65.19 on Monday. The firm’s fifty day simple moving average is $65.07 and its 200-day simple moving average is $60.12. The company has a market capitalization of $7.79 billion, a P/E ratio of 9.25 and a beta of 3.32. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.04 and a quick ratio of 0.98. Matador Resources has a 12 month low of $42.04 and a 12 month high of $71.08.

Matador Resources (NYSE:MTDR) last announced its quarterly earnings results on Wednesday, February 21st. The energy company reported $1.99 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.04 by ($0.05). Matador Resources had a return on equity of 21.54% and a net margin of 30.14%. The firm had revenue of $836.13 million for the quarter, compared to analysts’ expectations of $842.96 million. During the same period last year, the company posted $2.08 earnings per share. The business’s quarterly revenue was up 18.2% on a year-over-year basis. As a group, equities research analysts forecast that Matador Resources will post 7.14 earnings per share for the current year.

Institutional Investors Weigh In On Matador Resources

Hedge funds have recently modified their holdings of the business. Parkside Financial Bank & Trust raised its position in shares of Matador Resources by 82.0% in the third quarter. Parkside Financial Bank & Trust now owns 444 shares of the energy company’s stock valued at $26,000 after buying an additional 200 shares during the last quarter. Rise Advisors LLC acquired a new stake in shares of Matador Resources in the first quarter valued at about $34,000. Oakworth Capital Inc. acquired a new stake in shares of Matador Resources in the fourth quarter valued at about $31,000. Financial Management Professionals Inc. acquired a new stake in shares of Matador Resources in the fourth quarter valued at about $34,000. Finally, McGlone Suttner Wealth Management Inc. acquired a new stake in shares of Matador Resources in the fourth quarter valued at about $35,000. 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.