Matador Resources (NYSE:MTDR) Upgraded at Wall Street Zen

Key Points

• Wall Street Zen upgraded Matador Resources to “strong buy” from “buy.” Analysts overall rate the stock “Moderate Buy,” with an average price target of $66.80.
• Matador shares opened at $51.50, down 2.8%, while the company reported quarterly EPS of $2.61 and revenue of $1.17 billion, beating analyst estimates and increasing revenue 32.5% year over year.
• Insiders purchased 23,144 shares worth $1.21 million over the past 90 days, and institutional investors own 91.98% of the company; Matador operates oil, natural gas and midstream assets primarily in the Delaware Basin.

Matador Resources (NYSE:MTDR - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.

Other equities analysts also recently issued reports about the stock. KeyCorp boosted their target price on shares of Matador Resources from $68.00 to $73.00 and gave the stock an "overweight" rating in a report on Tuesday, September 15th. Citigroup lowered their price target on shares of Matador Resources from $68.00 to $60.00 and set a "buy" rating on the stock in a report on Tuesday, August 11th. Stephens lifted their price objective on shares of Matador Resources from $92.00 to $93.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 28th. Mizuho upgraded shares of Matador Resources to a "strong-buy" rating in a research note on Friday, July 31st. Finally, UBS Group increased their target price on shares of Matador Resources from $56.00 to $64.00 and gave the company a "neutral" rating in a research report on Monday, September 14th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $66.80.

Matador Resources Trading Down 2.8%

Shares of NYSE:MTDR opened at $51.50 on Friday. The company has a market capitalization of $6.37 billion, a PE ratio of 8.83 and a beta of 0.79. The company has a current ratio of 0.65, a quick ratio of 0.62 and a debt-to-equity ratio of 0.67. Matador Resources has a 12-month low of $37.14 and a 12-month high of $66.84. The business's fifty day simple moving average is $54.75 and its 200-day simple moving average is $55.82.

Matador Resources (NYSE:MTDR - Get Free Report) last issued its quarterly earnings data 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 return on equity of 13.18% and a net margin of 19.85%.The firm had revenue of $1.17 billion during the quarter, compared to analysts' expectations of $1.06 billion. During the same period in the prior year, the business posted $1.53 EPS. The firm's quarterly revenue was up 32.5% on a year-over-year basis. As a group, equities research analysts predict that Matador Resources will post 7.39 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, EVP William Elsener acquired 850 shares of the firm's stock in a transaction that occurred on Monday, August 10th. The stock was purchased at an average cost of $50.94 per share, with a total value 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 trade represents a 0.75% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Joseph Foran bought 555 shares of the stock in a transaction that occurred on Wednesday, August 26th. The stock was bought at an average price of $54.49 per share, with a total value of $30,241.95. Following the completion of the purchase, the chief executive officer directly owned 4,772 shares in the company, valued at $260,026.28. This represents a 13.16% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders acquired 23,144 shares of company stock valued at $1,211,793. 5.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Sequoia Financial Advisors LLC raised its position in shares of Matador Resources by 80.2% in the second quarter. Sequoia Financial Advisors LLC now owns 19,285 shares of the energy company's stock worth $960,000 after acquiring an additional 8,581 shares during the period. Tidal Investments LLC acquired a new stake in shares of Matador Resources during the 2nd quarter valued at about $305,000. Engineers Gate Manager LP grew its position in shares of Matador Resources by 195.0% during the 2nd quarter. Engineers Gate Manager LP now owns 14,179 shares of the energy company's stock valued at $706,000 after acquiring an additional 9,373 shares during the period. Integrated Wealth Concepts LLC purchased a new position in shares of Matador Resources in the 2nd quarter valued at about $54,000. Finally, IFP Advisors Inc increased its stake in shares of Matador Resources by 62.2% in the 2nd quarter. IFP Advisors Inc now owns 1,215 shares of the energy company's stock valued at $60,000 after purchasing an additional 466 shares in the last quarter. Hedge funds and other institutional investors own 91.98% of the company's stock.

Matador Resources Company Profile

Matador Resources Company is an independent energy company engaged in the exploration, development, production and acquisition of oil, natural gas and natural gas liquids. The company focuses primarily on unconventional, horizontal drilling and development activities in the United States.

Matador's principal operations are concentrated in the Delaware Basin, a sub-basin of the Permian Basin in southeastern New Mexico and West Texas. Its activities include drilling and completing wells, producing hydrocarbons, and managing mineral and leasehold interests associated with its development programs.

Through its midstream operations, including San Mateo Midstream, Matador also provides gathering, processing, transportation and water-handling services that support oil and natural gas production in the Delaware Basin.

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