Matador Resources (NYSE:MTDR) Coverage Initiated at William Blair

Key Points

• William Blair has initiated coverage of Matador Resources (NYSE:MTDR) and set an "outperform" rating, indicating positive expectations for the company's stock performance.
• Matador Resources reported a strong quarterly earnings performance with an EPS of $1.53, surpassing analysts' expectations by $0.24 and an 8.2% increase in year-over-year revenue.
• The stock has received multiple positive ratings from analysts, resulting in a consensus rating of "Moderate Buy" and a target price of $67.60.

Stock analysts at William Blair assumed coverage on shares of Matador Resources (NYSE:MTDR - Get Free Report) in a report released on Monday,Benzinga reports. The firm set an "outperform" rating on the energy company's stock.

A number of other equities analysts also recently issued reports on MTDR. KeyCorp increased their price objective on shares of Matador Resources from $60.00 to $62.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. UBS Group dropped their price objective on shares of Matador Resources from $49.00 to $48.00 and set a "neutral" rating on the stock in a research note on Wednesday, August 20th. Bank of America assumed coverage on shares of Matador Resources in a research note on Monday, May 19th. They set a "buy" rating and a $56.00 price objective on the stock. Wells Fargo & Company dropped their price objective on shares of Matador Resources from $80.00 to $74.00 and set an "overweight" rating on the stock in a research report on Monday, June 16th. Finally, TD Cowen raised shares of Matador Resources to a "strong-buy" rating in a research report on Monday, July 7th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat.com, Matador Resources has a consensus rating of "Moderate Buy" and a consensus target price of $67.60.

Matador Resources Price Performance

Shares of MTDR stock opened at $48.2730 on Monday. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.85 and a quick ratio of 0.81. The company's 50-day simple moving average is $49.40 and its two-hundred day simple moving average is $47.57. Matador Resources has a one year low of $35.19 and a one year high of $64.04. The company has a market capitalization of $6.01 billion, a P/E ratio of 7.07 and a beta of 1.49.

Matador Resources (NYSE:MTDR - Get Free Report) last released its quarterly earnings data on Tuesday, July 22nd. The energy company reported $1.53 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.29 by $0.24. Matador Resources had a net margin of 22.57% and a return on equity of 16.53%. The firm had revenue of $895.31 million for the quarter, compared to the consensus estimate of $892.86 million. During the same period last year, the firm earned $2.05 earnings per share. The company's quarterly revenue was up 8.2% on a year-over-year basis. As a group, equities analysts anticipate that Matador Resources will post 8.53 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Joseph Wm Foran purchased 2,000 shares of the stock in a transaction that occurred on Tuesday, August 19th. The stock was acquired at an average cost of $46.25 per share, with a total value of $92,500.00. Following the acquisition, the chief executive officer owned 8,606 shares in the company, valued at approximately $398,027.50. This trade represents a 30.28% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 5.80% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. D.A. Davidson & CO. acquired a new position in Matador Resources during the 1st quarter worth $263,000. GAMMA Investing LLC boosted its holdings in shares of Matador Resources by 42.8% in the 1st quarter. GAMMA Investing LLC now owns 2,698 shares of the energy company's stock valued at $138,000 after buying an additional 809 shares during the period. Teacher Retirement System of Texas acquired a new position in shares of Matador Resources in the 1st quarter valued at about $885,000. Delphi Management Inc. MA boosted its holdings in shares of Matador Resources by 118.6% in the 1st quarter. Delphi Management Inc. MA now owns 23,302 shares of the energy company's stock valued at $1,190,000 after buying an additional 12,642 shares during the period. Finally, OneDigital Investment Advisors LLC acquired a new position in shares of Matador Resources in the 1st quarter valued at about $200,000. 91.98% of the stock is owned by institutional investors and hedge funds.

About Matador Resources

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.

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