Matador Resources (NYSE:MTDR) Stock Price Target Raised at Truist Financial

Key Points

• Truist Financial raised Matador Resources’ price target to $65 from $59 and maintained a “buy” rating, implying 17.54% upside from the prior close.
• Analyst sentiment remains favorable, with a consensus “Moderate Buy” rating and an average price target of $67.13. Shares recently traded at $55.30, below their 52-week high of $66.84.
• Matador reported stronger-than-expected quarterly results, including $2.61 EPS versus the $2.08 consensus and $1.17 billion in revenue, up 32.5% year over year; insiders also purchased shares in recent months.

Matador Resources (NYSE:MTDR - Get Free Report) had its price objective upped by analysts at Truist Financial from $59.00 to $65.00 in a report released on Wednesday, Benzinga reports. The firm presently has a "buy" rating on the energy company's stock. Truist Financial's price objective would indicate a potential upside of 17.54% from the company's previous close.

Other equities research analysts also recently issued research reports about the stock. KeyCorp upped their price target on shares of Matador Resources from $68.00 to $73.00 and gave the company an "overweight" rating in a research note on Tuesday, September 15th. Stifel Nicolaus initiated coverage on Matador Resources in a research report on Thursday, September 10th. They issued a "buy" rating and a $66.00 price objective on the stock. 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 note on Tuesday, August 11th. Roth Capital raised Matador Resources from a "neutral" rating to a "buy" rating and set a $65.00 price objective for the company in a report on Monday, June 22nd. Finally, Wall Street Zen upgraded Matador Resources from a "buy" rating to a "strong-buy" rating in a research note on Saturday, September 26th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $67.13.

Matador Resources Price Performance

Shares of NYSE MTDR traded down $0.58 during midday trading on Wednesday, reaching $55.30. 350,307 shares of the company were exchanged, compared to its average volume of 1,853,775. The company has a quick ratio of 0.62, a current ratio of 0.65 and a debt-to-equity ratio of 0.67. Matador Resources has a one year low of $37.14 and a one year high of $66.84. The stock's 50-day moving average price is $55.47 and its 200-day moving average price is $55.45. The stock has a market cap of $6.84 billion, a P/E ratio of 9.48 and a beta of 0.98.

Matador Resources (NYSE:MTDR - Get Free Report) last posted its earnings results on Wednesday, August 5th. The energy company reported $2.61 earnings per share for the quarter, topping analysts' consensus estimates of $2.08 by $0.53. Matador Resources had a net margin of 19.85% and a return on equity of 13.18%. The company had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.06 billion. During the same quarter in the prior year, the business posted $1.53 EPS. The firm's revenue was up 32.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Matador Resources will post 7.50 earnings per share for the current fiscal year.

Insider Activity at Matador Resources

In related news, CFO Christopher Calvert acquired 2,500 shares of the firm's stock in a transaction on Thursday, August 27th. The stock was purchased at an average cost of $56.64 per share, with a total value of $141,600.00. Following the acquisition, the chief financial officer owned 44,000 shares of the company's stock, valued at approximately $2,492,160. This trade represents a 6.02% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP William Elsener acquired 850 shares of the stock in a transaction that occurred on Monday, August 10th. The stock was acquired at an average price of $50.94 per share, for a total transaction of $43,299.00. Following the transaction, the executive vice president directly owned 114,879 shares of the company's stock, valued at $5,851,936.26. This represents a 0.75% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders bought 23,144 shares of company stock valued at $1,211,793 in the last three months. Corporate insiders own 5.90% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. V Square Quantitative Management LLC purchased a new stake in Matador Resources during the first quarter worth $27,000. Center for Financial Planning Inc. acquired a new stake in Matador Resources in the first quarter worth $41,000. Harbor Investment Advisory LLC bought a new position in shares of Matador Resources in the second quarter valued at approximately $44,000. Altshuler Shaham Ltd boosted its holdings in shares of Matador Resources by 36.7% in the first quarter. Altshuler Shaham Ltd now owns 748 shares of the energy company's stock worth $47,000 after buying an additional 201 shares during the period. Finally, Integrated Wealth Concepts LLC acquired a new stake in Matador Resources in the second quarter valued at approximately $54,000. Hedge funds and other institutional investors own 91.98% of the company's stock.

About Matador Resources

Matador Resources Company is an independent energy company engaged in the exploration, development, production and acquisition of oil and natural gas properties. Its operations are focused primarily on unconventional, or shale, formations, with oil, natural gas and natural gas liquids among its principal products.

The company's main exploration and production activities are concentrated in the Delaware Basin, part of the Permian Basin in southeastern New Mexico and West Texas. Matador has also historically held interests in other U.S.

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