Stephens Forecasts Strong Price Appreciation for Matador Resources (NYSE:MTDR) Stock

Key Points

• Stephens raised its price target for Matador Resources from $92 to $93 and maintained an “overweight” rating, implying roughly 98% upside from the stock’s $47.08 price. Analysts overall hold a “Moderate Buy” consensus with a $66 average target.
• Matador’s latest quarter beat expectations, reporting $1.53 in EPS versus the $1.24 consensus and $941.6 million in revenue versus $871.6 million expected, though revenue declined 33.8% year over year.
• The stock fell 7.3% and trades below both its 50-day and 200-day moving averages. Insiders bought 11,907 shares worth approximately $635,712 over the past 90 days, while institutional investors own 91.98% of shares.

Matador Resources (NYSE:MTDR - Get Free Report) had its target price lifted by equities researchers at Stephens from $92.00 to $93.00 in a report released on Tuesday,Benzinga reports. The firm presently has an "overweight" rating on the energy company's stock. Stephens' target price would suggest a potential upside of 97.52% from the company's current price.

A number of other research firms also recently weighed in on MTDR. Wells Fargo & Company raised their price target on shares of Matador Resources from $54.00 to $63.00 and gave the company an "equal weight" rating in a report on Thursday, April 16th. Citigroup decreased their price target on Matador Resources from $72.00 to $68.00 and set a "buy" rating for the company in a research note on Monday, July 20th. Mizuho upped their target price on Matador Resources from $74.00 to $77.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 27th. Zacks Research cut Matador Resources from a "strong-buy" rating to a "hold" rating in a research report on Monday, May 25th. Finally, KeyCorp increased their price target on Matador Resources from $61.00 to $73.00 and gave the company an "overweight" rating in a report on Thursday, April 2nd. Twelve equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $66.00.

Matador Resources Trading Down 7.3%

Matador Resources stock opened at $47.08 on Tuesday. Matador Resources has a 12 month low of $37.14 and a 12 month high of $66.84. The company has a quick ratio of 0.70, a current ratio of 0.73 and a debt-to-equity ratio of 0.59. The stock has a market cap of $5.85 billion, a P/E ratio of 12.10 and a beta of 0.74. The company's fifty day simple moving average is $52.82 and its 200-day simple moving average is $53.32.

Matador Resources (NYSE:MTDR - Get Free Report) last issued its earnings results on Wednesday, May 6th. The energy company reported $1.53 EPS for the quarter, beating analysts' consensus estimates of $1.24 by $0.29. Matador Resources had a return on equity of 11.20% and a net margin of 14.41%.The firm had revenue of $941.60 million for the quarter, compared to the consensus estimate of $871.57 million. During the same quarter in the previous year, the company posted $1.99 earnings per share. The business's quarterly revenue was down 33.8% compared to the same quarter last year. As a group, sell-side analysts forecast that Matador Resources will post 6.83 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Christopher P. Calvert purchased 1,500 shares of the business's stock in a transaction on Friday, May 29th. The stock was purchased at an average price of $53.24 per share, with a total value of $79,860.00. Following the acquisition, the chief financial officer directly owned 41,500 shares in the company, valued at approximately $2,209,460. The trade was a 3.75% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Glenn W. Stetson bought 500 shares of Matador Resources stock in a transaction that occurred on Tuesday, June 9th. The stock was purchased at an average cost of $53.41 per share, with a total value of $26,705.00. Following the completion of the transaction, the chief operating officer owned 95,470 shares of the company's stock, valued at $5,099,052.70. This trade represents a 0.53% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have purchased 11,907 shares of company stock worth $635,712 in the last ninety days. Insiders own 5.90% of the company's stock.

Institutional Trading of Matador Resources

A number of large investors have recently bought and sold shares of the stock. Kestra Investment Management LLC lifted its holdings in shares of Matador Resources by 225.2% during the second quarter. Kestra Investment Management LLC now owns 517 shares of the energy company's stock valued at $25,000 after acquiring an additional 358 shares during the period. V Square Quantitative Management LLC bought a new stake in shares of Matador Resources in the 1st quarter worth about $27,000. Measured Wealth Private Client Group LLC acquired a new stake in shares of Matador Resources during the 3rd quarter worth about $35,000. Center for Financial Planning Inc. bought a new position in Matador Resources during the 1st quarter valued at about $41,000. Finally, Gilpin Wealth Management LLC acquired a new position in Matador Resources in the fourth quarter valued at about $42,000. 91.98% of the stock is currently owned by institutional investors.

Matador Resources Company Profile

Matador Resources Company is an independent energy firm primarily engaged in the exploration, development and production of oil, natural gas liquids (NGLs) and natural gas. The company focuses on upstream operations, utilizing horizontal drilling and hydraulic fracturing techniques to unlock hydrocarbons from key reservoirs. Its asset base includes both operated and non‐operated positions, with a particular emphasis on the Permian Basin, one of the most prolific oil-producing regions in North America.

Matador's core operations are concentrated in the Delaware Basin segment of the Permian Basin, where it holds substantial acreage in both Reeves and Culberson counties in West Texas and Eddy and Lea counties in New Mexico.

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