TD Cowen Issues Positive Forecast for Matador Resources (NYSE:MTDR) Stock Price

Matador Resources (NYSE:MTDR) had its price objective upped by analysts at TD Cowen from $60.00 to $65.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the energy company’s stock. TD Cowen’s target price would suggest a potential upside of 11.65% from the stock’s current price.

A number of other research firms also recently weighed in on MTDR. Royal Bank Of Canada dropped their target price on Matador Resources from $62.00 to $60.00 and set an “outperform” rating for the company in a report on Tuesday, January 13th. Citigroup raised their price target on shares of Matador Resources from $53.00 to $62.00 and gave the stock a “buy” rating in a research report on Thursday, March 5th. BMO Capital Markets lifted their price objective on shares of Matador Resources from $60.00 to $65.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 11th. Mizuho boosted their price objective on shares of Matador Resources from $67.00 to $70.00 and gave the company an “outperform” rating in a report on Friday, December 12th. Finally, UBS Group increased their target price on shares of Matador Resources from $50.00 to $52.00 and gave the stock a “neutral” rating in a research report on Thursday, March 5th. Eleven equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $60.31.

Matador Resources Stock Performance

Shares of Matador Resources stock traded up $1.86 on Tuesday, hitting $58.22. The stock had a trading volume of 324,274 shares, compared to its average volume of 1,926,989. The stock has a market cap of $7.23 billion, a price-to-earnings ratio of 9.54 and a beta of 1.07. The company has a quick ratio of 0.75, a current ratio of 0.79 and a debt-to-equity ratio of 0.57. Matador Resources has a twelve month low of $35.19 and a twelve month high of $58.32. The business’s 50 day moving average is $47.84 and its two-hundred day moving average is $45.02.

Matador Resources (NYSE:MTDR) last released its quarterly earnings results on Tuesday, February 24th. The energy company reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.16. The business had revenue of $847.99 million during 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%.The firm’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. Analysts forecast that Matador Resources will post 8.53 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Kestra Investment Management LLC lifted its holdings in shares of Matador Resources by 225.2% in the second quarter. Kestra Investment Management LLC now owns 517 shares of the energy company’s stock worth $25,000 after acquiring an additional 358 shares during the last quarter. Allworth Financial LP grew its holdings in shares of Matador Resources by 182.0% during the 2nd quarter. Allworth Financial LP now owns 564 shares of the energy company’s stock valued at $27,000 after purchasing an additional 364 shares during the last quarter. Rothschild Investment LLC increased its position in Matador Resources by 5,927.3% during the 3rd quarter. Rothschild Investment LLC now owns 663 shares of the energy company’s stock worth $30,000 after purchasing an additional 652 shares in the last quarter. Measured Wealth Private Client Group LLC acquired a new position in Matador Resources during the 3rd quarter worth approximately $35,000. Finally, Gilpin Wealth Management LLC bought a new position in Matador Resources in the 4th quarter valued at approximately $42,000. Institutional investors and hedge funds 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.