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

Key Points

• TD Cowen raised its price target on Matador from $60 to $65 and maintained a "buy" rating, implying roughly an 11.65% upside from the stock's current level.
• Analyst consensus is a Moderate Buy (11 Buy, 4 Hold) with an average price target of $60.31, and shares recently traded around $58.22 with a market cap of about $7.23 billion.
• Matador beat the quarter with $0.87 EPS versus $0.71 expected and $848M revenue versus $811M expected, though revenue was down 15.7% year-over-year and analysts forecast ~8.53 EPS for the year.

Matador Resources (NYSE:MTDR - Get Free Report) had its price target lifted by equities researchers at TD Cowen from $60.00 to $65.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has a "buy" rating on the energy company's stock. TD Cowen's price target indicates a potential upside of 11.65% from the stock's current price.

MTDR has been the topic of several other research reports. Royal Bank Of Canada cut their price objective on Matador Resources from $62.00 to $60.00 and set an "outperform" rating on the stock in a report on Tuesday, January 13th. KeyCorp reissued an "overweight" rating on shares of Matador Resources in a research note on Friday, December 19th. Morgan Stanley cut their price target on shares of Matador Resources from $56.00 to $52.00 and set an "equal weight" rating on the stock in a research note on Friday, January 23rd. Citigroup upped their price target on shares of Matador Resources from $53.00 to $62.00 and gave the company a "buy" rating in a report on Thursday, March 5th. Finally, Wells Fargo & Company increased their price objective on shares of Matador Resources from $47.00 to $54.00 and gave the stock an "equal weight" rating in a research report on Monday. Eleven analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $60.31.

Matador Resources Trading Up 3.3%

Shares of NYSE MTDR traded up $1.86 during midday trading on Tuesday, reaching $58.22. 324,274 shares of the stock were exchanged, compared to its average volume of 1,926,989. Matador Resources has a 12 month low of $35.19 and a 12 month high of $58.32. The company has a market capitalization of $7.23 billion, a price-to-earnings ratio of 9.54 and a beta of 1.07. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.79 and a quick ratio of 0.75. The business has a 50-day simple moving average of $47.84 and a two-hundred day simple moving average of $45.02.

Matador Resources (NYSE:MTDR - Get Free Report) last issued its quarterly earnings data on Tuesday, February 24th. The energy company reported $0.87 EPS for the quarter, topping the consensus estimate of $0.71 by $0.16. Matador Resources had a return on equity of 12.36% and a net margin of 20.54%.The business had revenue of $847.99 million for the quarter, compared to the consensus estimate of $811.13 million. During the same quarter last year, the business posted $1.83 EPS. The firm's revenue was down 15.7% compared to the same quarter last year. As a group, equities research analysts expect that Matador Resources will post 8.53 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Vaughan Nelson Investment Management L.P. raised its position in Matador Resources by 64.3% during the third quarter. Vaughan Nelson Investment Management L.P. now owns 1,100,805 shares of the energy company's stock worth $49,459,000 after acquiring an additional 431,010 shares in the last quarter. Thrivent Financial for Lutherans grew its position in shares of Matador Resources by 3.8% in the 3rd quarter. Thrivent Financial for Lutherans now owns 1,032,602 shares of the energy company's stock valued at $46,395,000 after acquiring an additional 37,889 shares during the period. Mitsubishi UFJ Trust & Banking Corp increased its stake in shares of Matador Resources by 309.6% during the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 32,010 shares of the energy company's stock worth $1,438,000 after purchasing an additional 24,195 shares during the last quarter. Hussman Strategic Advisors Inc. bought a new stake in shares of Matador Resources in the 3rd quarter valued at about $1,887,000. Finally, Thomist Capital Management LP acquired a new stake in shares of Matador Resources in the second quarter valued at approximately $4,289,000. 91.98% of the stock is currently owned by institutional investors.

About Matador Resources

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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