Truist Financial Lowers Matador Resources (NYSE:MTDR) Price Target to $59.00

Key Points

• Truist Financial lowered its price target for Matador Resources from $63 to $59 while maintaining a “buy” rating, implying approximately 13.4% upside from the reported $52.03 share price.
• Analyst sentiment remains favorable overall: Matador has a consensus “Moderate Buy” rating and an average price target of $65.71, supported by multiple recent upgrades.
• Matador exceeded quarterly expectations, reporting $2.61 in EPS versus the $2.08 consensus and $1.17 billion in revenue, up 32.5% year over year.

Matador Resources (NYSE:MTDR - Get Free Report) had its target price dropped by analysts at Truist Financial from $63.00 to $59.00 in a research report issued on Monday,Benzinga reports. The firm presently has a "buy" rating on the energy company's stock. Truist Financial's price target suggests a potential upside of 13.39% from the company's current price.

Other research analysts have also issued reports about the company. Wells Fargo & Company raised their price objective on Matador Resources from $54.00 to $63.00 and gave the company an "equal weight" rating in a research report on Thursday, April 16th. Roth Capital upgraded Matador Resources from a "neutral" rating to a "buy" rating and set a $65.00 target price for the company in a research note on Monday, June 22nd. Mizuho upgraded Matador Resources to a "strong-buy" rating in a report on Friday, July 31st. UBS Group reduced their price target on Matador Resources from $56.00 to $54.00 and set a "neutral" rating on the stock in a research report on Monday, July 27th. Finally, Weiss Ratings downgraded shares of Matador Resources from a "hold (c+)" rating to a "hold (c)" rating in a research report on Tuesday, May 12th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat.com, Matador Resources has an average rating of "Moderate Buy" and a consensus price target of $65.71.

Matador Resources Stock Performance

NYSE:MTDR traded up $2.98 during mid-day trading on Monday, reaching $52.03. 984,853 shares of the stock were exchanged, compared to its average volume of 1,885,330. The company has a 50 day simple moving average of $51.44 and a 200-day simple moving average of $53.71. The stock has a market capitalization of $6.46 billion, a P/E ratio of 8.94 and a beta of 0.76. The company has a quick ratio of 0.62, a current ratio of 0.65 and a debt-to-equity ratio of 0.67. Matador Resources has a 1 year low of $37.14 and a 1 year high of $66.84.

Matador Resources (NYSE:MTDR - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The energy company reported $2.61 earnings per share for the quarter, topping analysts' consensus estimates of $2.08 by $0.53. Matador Resources had a net margin of 19.85% and a return on equity of 13.18%. The business had revenue of $1.17 billion during the quarter, compared to analysts' expectations of $1.06 billion. During the same period last year, the company posted $1.53 EPS. The company's revenue was up 32.5% on a year-over-year basis. Analysts anticipate that Matador Resources will post 6.98 earnings per share for the current fiscal year.

Insider Transactions at Matador Resources

In related news, CFO Christopher P. Calvert purchased 1,500 shares of Matador Resources stock in a transaction dated Friday, May 29th. The stock was bought at an average cost of $53.24 per share, with a total value of $79,860.00. Following the purchase, the chief financial officer owned 41,500 shares in the company, valued at approximately $2,209,460. The trade was a 3.75% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Glenn W. Stetson acquired 500 shares of the stock in a transaction that occurred on Tuesday, June 9th. The shares were bought at an average price of $53.41 per share, for a total transaction of $26,705.00. Following the purchase, the chief operating officer directly owned 95,470 shares of the company's stock, valued at approximately $5,099,052.70. This trade represents a 0.53% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders bought 11,907 shares of company stock worth $635,712. Insiders own 5.90% of the company's stock.

Hedge Funds Weigh In On Matador Resources

Large investors have recently made changes to their positions in the business. BlackRock Inc. purchased a new stake in Matador Resources in the 2nd quarter worth about $573,936,000. Wellington Management Group LLP grew its position in Matador Resources by 65.0% during the fourth quarter. Wellington Management Group LLP now owns 3,406,182 shares of the energy company's stock valued at $144,558,000 after purchasing an additional 1,342,145 shares in the last quarter. Encompass Capital Advisors LLC acquired a new position in Matador Resources in the 4th quarter valued at approximately $53,249,000. Bank of New York Mellon Corp purchased a new stake in Matador Resources in the 2nd quarter worth approximately $56,161,000. Finally, First Trust Advisors LP boosted its stake in shares of Matador Resources by 103.3% during the 1st quarter. First Trust Advisors LP now owns 1,595,415 shares of the energy company's stock valued at $100,798,000 after buying an additional 810,808 shares during the period. Institutional investors own 91.98% of the company's stock.

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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