Matador Resources (NYSE:MTDR) Given New $87.00 Price Target at Truist Financial

Matador Resources (NYSE:MTDR) had its target price raised by investment analysts at Truist Financial from $85.00 to $87.00 in a research report issued on Friday, Benzinga reports. The firm currently has a “buy” rating on the energy company’s stock. Truist Financial’s price objective would indicate a potential upside of 33.19% from the company’s previous close.

A number of other equities research analysts also recently weighed in on the company. Benchmark lowered their price target on Matador Resources from $71.00 to $62.00 and set a “buy” rating on the stock in a research report on Tuesday. StockNews.com upgraded shares of Matador Resources from a “sell” rating to a “hold” rating in a research note on Thursday, February 22nd. Roth Mkm reissued a “buy” rating and set a $66.00 target price on shares of Matador Resources in a research note on Monday, March 25th. JPMorgan Chase & Co. raised their price objective on shares of Matador Resources from $76.00 to $77.00 and gave the company an “overweight” rating in a report on Thursday, April 11th. Finally, 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 Tuesday, March 5th. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, Matador Resources currently has an average rating of “Moderate Buy” and an average target price of $74.30.

Matador Resources Trading Down 0.4 %

NYSE MTDR traded down $0.26 during mid-day trading on Friday, hitting $65.32. The company’s stock had a trading volume of 269,005 shares, compared to its average volume of 1,391,248. Matador Resources has a 52-week low of $42.04 and a 52-week high of $71.08. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.89 and a quick ratio of 0.98. The firm has a market capitalization of $7.81 billion, a P/E ratio of 8.93 and a beta of 3.32. The stock’s fifty day simple moving average is $65.25 and its two-hundred day simple moving average is $60.16.

Matador Resources (NYSE:MTDR) last released its quarterly earnings data on Tuesday, April 23rd. The energy company reported $1.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.39 by $0.32. Matador Resources had a return on equity of 20.62% and a net margin of 28.89%. The business had revenue of $787.70 million for the quarter, compared to analysts’ expectations of $740.99 million. During the same period in the previous year, the business posted $1.50 earnings per share. Matador Resources’s quarterly revenue was up 40.6% on a year-over-year basis. Research analysts expect that Matador Resources will post 7.3 EPS for the current year.

Institutional Trading of Matador Resources

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Atria Wealth Solutions Inc. boosted its position in shares of Matador Resources by 5.3% during the 4th quarter. Atria Wealth Solutions Inc. now owns 3,880 shares of the energy company’s stock worth $221,000 after purchasing an additional 195 shares in the last quarter. Great Lakes Advisors LLC boosted its stake in Matador Resources by 1.4% in the 3rd quarter. Great Lakes Advisors LLC now owns 13,851 shares of the energy company’s stock valued at $824,000 after buying an additional 196 shares in the last quarter. Parkside Financial Bank & Trust raised its position in shares of Matador Resources by 82.0% during the third quarter. Parkside Financial Bank & Trust now owns 444 shares of the energy company’s stock worth $26,000 after acquiring an additional 200 shares during the last quarter. Verdence Capital Advisors LLC boosted its position in shares of Matador Resources by 3.0% during the third quarter. Verdence Capital Advisors LLC now owns 6,964 shares of the energy company’s stock worth $414,000 after buying an additional 201 shares during the period. Finally, Huntington National Bank increased its stake in shares of Matador Resources by 11.4% during the third quarter. Huntington National Bank now owns 2,112 shares of the energy company’s stock worth $126,000 after purchasing an additional 216 shares during the period. 91.98% of the stock is owned by hedge funds and other institutional investors.

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.