Matador Resources (NYSE:MTDR) Coverage Initiated by Analysts at Seaport Research Partners

Equities research analysts at Seaport Research Partners began coverage on shares of Matador Resources (NYSE:MTDR) in a report issued on Thursday, Briefing.com reports. The brokerage set a “neutral” rating on the energy company’s stock.

MTDR has been the subject of a number of other reports. Weiss Ratings upgraded shares of Matador Resources from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, August 21st. Wall Street Zen upgraded shares of Matador Resources from a “hold” rating to a “buy” rating in a research report on Saturday, August 15th. Citigroup reduced their price objective on Matador Resources from $68.00 to $60.00 and set a “buy” rating on the stock in a research report on Tuesday, August 11th. Morgan Stanley reduced their target price on shares of Matador Resources from $75.00 to $66.00 and set an “equal weight” rating on the stock in a report on Monday, June 29th. Finally, Roth Capital raised Matador Resources from a “neutral” rating to a “buy” rating and set a $65.00 price target on the stock in a research note on Monday, June 22nd. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $65.93.

Matador Resources Price Performance

Shares of NYSE:MTDR opened at $59.53 on Thursday. Matador Resources has a fifty-two week low of $37.14 and a fifty-two week high of $66.84. The company’s 50-day moving average is $52.56 and its 200 day moving average is $55.10. The company has a market capitalization of $7.37 billion, a P/E ratio of 10.21 and a beta of 0.79. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.62 and a current ratio of 0.65.

Matador Resources (NYSE:MTDR) last issued its quarterly earnings results on Wednesday, August 5th. The energy company reported $2.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.08 by $0.53. The company had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.06 billion. Matador Resources had a net margin of 19.85% and a return on equity of 13.18%. Matador Resources’s quarterly revenue was up 32.5% compared to the same quarter last year. During the same quarter last year, the business posted $1.53 EPS. On average, equities research analysts forecast that Matador Resources will post 7.26 earnings per share for the current year.

Insider Buying and Selling at Matador Resources

In other Matador Resources news, COO Glenn W. Stetson acquired 500 shares of the company’s stock in a transaction that occurred on Tuesday, June 9th. The shares were bought at an average cost of $53.41 per share, with a total value of $26,705.00. Following the completion of the transaction, the chief operating officer directly owned 95,470 shares of the company’s stock, valued at approximately $5,099,052.70. This represents a 0.53% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP William Thomas Elsener purchased 850 shares of Matador Resources stock in a transaction dated Monday, August 10th. The stock was bought at an average price of $50.94 per share, with a total value of $43,299.00. Following the completion of the purchase, the executive vice president directly owned 114,879 shares of the company’s stock, valued at approximately $5,851,936.26. This trade represents a 0.75% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have bought a total of 25,644 shares of company stock valued at $1,344,638 over the last ninety days. Company insiders own 5.90% of the company’s stock.

Institutional Trading of Matador Resources

Several large investors have recently modified their holdings of the company. Jones Financial Companies Lllp increased its position in shares of Matador Resources by 1,104.8% during the 1st quarter. Jones Financial Companies Lllp now owns 2,012 shares of the energy company’s stock valued at $103,000 after purchasing an additional 1,845 shares during the last quarter. Geneos Wealth Management Inc. lifted its position in shares of Matador Resources by 361.3% in the first quarter. Geneos Wealth Management Inc. now owns 881 shares of the energy company’s stock valued at $45,000 after acquiring an additional 690 shares in the last quarter. Sivia Capital Partners LLC bought a new position in Matador Resources in the 2nd quarter worth approximately $255,000. Arrowstreet Capital Limited Partnership bought a new stake in Matador Resources in the 2nd quarter valued at $5,126,000. Finally, EverSource Wealth Advisors LLC lifted its position in shares of Matador Resources by 767.3% in the second quarter. EverSource Wealth Advisors LLC now owns 3,261 shares of the energy company’s stock worth $156,000 after buying an additional 2,885 shares in the last quarter. Institutional investors own 91.98% of the company’s stock.

Matador Resources Company Profile

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.