Matador Resources (NYSE:MTDR) Given New $62.00 Price Target at KeyCorp

Matador Resources (NYSE:MTDR - Get Free Report) had its price objective hoisted by equities research analysts at KeyCorp from $60.00 to $62.00 in a research note issued on Thursday,Benzinga reports. The firm currently has an "overweight" rating on the energy company's stock. KeyCorp's price target would indicate a potential upside of 22.76% from the stock's previous close.

MTDR has been the topic of several other reports. Stephens lowered their target price on shares of Matador Resources from $90.00 to $86.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 15th. Wells Fargo & Company decreased their target price on Matador Resources from $80.00 to $74.00 and set an "overweight" rating on the stock in a research report on Monday, June 16th. TD Cowen raised Matador Resources to a "strong-buy" rating in a research report on Monday, July 7th. Bank of America began coverage on shares of Matador Resources in a research note on Monday, May 19th. They set a "buy" rating and a $56.00 price target for the company. Finally, Royal Bank Of Canada cut their target price on shares of Matador Resources from $70.00 to $62.00 and set an "outperform" rating for the company in a research note on Friday, April 11th. Two research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $69.25.

Matador Resources Stock Up 0.3%

Shares of MTDR traded up $0.18 during mid-day trading on Thursday, reaching $50.51. The company's stock had a trading volume of 1,036,456 shares, compared to its average volume of 1,707,223. The business has a fifty day moving average of $48.13 and a 200 day moving average of $49.63. The company has a market cap of $6.32 billion, a price-to-earnings ratio of 7.40 and a beta of 1.46. Matador Resources has a 1 year low of $35.19 and a 1 year high of $64.04. The company has a quick ratio of 0.76, a current ratio of 0.79 and a debt-to-equity ratio of 0.56.

Matador Resources (NYSE:MTDR - Get Free Report) last released its earnings results 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 return on equity of 16.78% and a net margin of 22.57%. The company had revenue of $895.31 million during the quarter, compared to analyst estimates of $892.86 million. During the same quarter in the prior year, the company earned $2.05 earnings per share. The company's revenue for the quarter was up 8.2% on a year-over-year basis. As a group, analysts forecast that Matador Resources will post 8.53 earnings per share for the current fiscal year.

Matador Resources declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, April 23rd that permits the company to repurchase $400.00 million in shares. This repurchase authorization permits the energy company to buy up to 7.8% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's leadership believes its shares are undervalued.

Insider Buying and Selling

In related news, CEO Joseph Wm Foran acquired 5,000 shares of the business's stock in a transaction that occurred on Tuesday, April 29th. The shares were acquired at an average cost of $40.86 per share, with a total value of $204,300.00. Following the transaction, the chief executive officer owned 50,756 shares of the company's stock, valued at $2,073,890.16. The trade was a 10.93% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP William Thomas Elsener acquired 750 shares of the stock in a transaction dated Thursday, May 1st. The shares were purchased at an average price of $40.10 per share, for a total transaction of $30,075.00. Following the completion of the purchase, the executive vice president directly owned 111,197 shares in the company, valued at $4,458,999.70. The trade was a 0.68% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired 14,850 shares of company stock worth $601,103 over the last ninety days. Insiders own 5.80% of the company's stock.

Institutional Trading of Matador Resources

A number of hedge funds have recently added to or reduced their stakes in the stock. Altshuler Shaham Ltd purchased a new position in Matador Resources during the fourth quarter worth about $25,000. MCF Advisors LLC bought a new stake in shares of Matador Resources in the first quarter valued at approximately $26,000. Opal Wealth Advisors LLC bought a new stake in Matador Resources during the 1st quarter worth approximately $28,000. MassMutual Private Wealth & Trust FSB raised its position in shares of Matador Resources by 93.0% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 554 shares of the energy company's stock valued at $26,000 after buying an additional 267 shares in the last quarter. Finally, Ameritas Advisory Services LLC bought a new stake in shares of Matador Resources during the 2nd quarter worth $29,000. Institutional investors and hedge funds own 91.98% of the company's stock.

Matador Resources Company Profile

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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