Matador Resources (NYSE:MTDR) Stock Price Expected to Rise, Raymond James Financial Analyst Says

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Matador Resources (NYSE:MTDR - Get Free Report) had its price target upped by stock analysts at Raymond James Financial from $60.00 to $63.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has an "outperform" rating on the energy company's stock. Raymond James Financial's price target would indicate a potential upside of 23.77% from the stock's current price.

A number of other brokerages have also recently commented on MTDR. Royal Bank Of Canada decreased their target price on Matador Resources from $70.00 to $62.00 and set an "outperform" rating on the stock in a report on Friday, April 11th. KeyCorp boosted their target price on Matador Resources from $60.00 to $62.00 and gave the company an "overweight" rating in a research report on Thursday, July 24th. JPMorgan Chase & Co. lowered their price target on Matador Resources from $65.00 to $61.00 and set an "overweight" rating for the company in a report on Thursday, April 10th. TD Cowen raised shares of Matador Resources to a "strong-buy" rating in a research note on Monday, July 7th. Finally, Stephens reduced their price objective on shares of Matador Resources from $90.00 to $86.00 and set an "overweight" rating for the company in a research note on Tuesday, April 15th. Two investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $68.00.

Matador Resources Trading Down 0.6%

NYSE MTDR traded down $0.33 during mid-day trading on Thursday, hitting $50.90. The company's stock had a trading volume of 553,804 shares, compared to its average volume of 1,707,689. 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 stock's fifty day simple moving average is $48.86 and its two-hundred day simple moving average is $49.35. The firm has a market capitalization of $6.34 billion, a P/E ratio of 7.45 and a beta of 1.46. Matador Resources has a 52-week low of $35.19 and a 52-week high of $64.04.

Matador Resources (NYSE:MTDR - Get Free Report) last issued its earnings results on Tuesday, July 22nd. The energy company reported $1.53 EPS for the quarter, beating analysts' consensus estimates of $1.29 by $0.24. The business had revenue of $895.31 million during the quarter, compared to analyst estimates of $892.86 million. Matador Resources had a return on equity of 16.53% and a net margin of 22.57%. Matador Resources's revenue was up 8.2% on a year-over-year basis. During the same period in the prior year, the company posted $2.05 earnings per share. Research analysts expect that Matador Resources will post 8.53 EPS for the current year.

Matador Resources declared that its Board of Directors has approved a stock repurchase program on Wednesday, April 23rd that authorizes the company to buyback $400.00 million in outstanding shares. This buyback authorization authorizes the energy company to reacquire up to 7.8% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's board believes its stock is undervalued.

Insider Activity at Matador Resources

In related news, CEO Joseph Wm Foran acquired 2,500 shares of the stock in a transaction that occurred on Wednesday, May 7th. The shares were acquired at an average price of $39.63 per share, for a total transaction of $99,075.00. Following the completion of the purchase, the chief executive officer directly owned 60,756 shares of the company's stock, valued at $2,407,760.28. The trade was a 4.29% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders have bought a total of 5,300 shares of company stock worth $210,993 over the last quarter. Company insiders own 5.80% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Altshuler Shaham Ltd bought a new stake in shares of Matador Resources during the fourth quarter worth approximately $25,000. MCF Advisors LLC acquired a new position in shares of Matador Resources during the 1st quarter worth approximately $26,000. MassMutual Private Wealth & Trust FSB raised its position in shares of Matador Resources by 93.0% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 554 shares of the energy company's stock valued at $26,000 after purchasing an additional 267 shares during the period. Opal Wealth Advisors LLC bought a new position in Matador Resources during the first quarter worth about $28,000. Finally, Ameritas Advisory Services LLC bought a new position in Matador Resources during the second quarter worth about $29,000. Institutional investors 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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