Truist Financial Increases Matador Resources (NYSE:MTDR) Price Target to $87.00

Matador Resources (NYSE:MTDR) had its target price boosted by equities research analysts at Truist Financial from $85.00 to $87.00 in a research note issued on Friday, Benzinga reports. The firm presently has a “buy” rating on the energy company’s stock. Truist Financial’s price objective suggests a potential upside of 33.19% from the stock’s previous close.

MTDR has been the subject of several other research reports. Mizuho boosted their price objective on shares of Matador Resources from $76.00 to $78.00 and gave the stock a “buy” rating in a research report on Wednesday. Raymond James lowered their price objective on Matador Resources from $76.00 to $70.00 and set an “outperform” rating on the stock in a research report on Monday, January 8th. TD Cowen boosted their price target on shares of Matador Resources from $64.00 to $72.00 and gave the stock an “outperform” rating in a research note on Monday, March 4th. JPMorgan Chase & Co. lifted their target price on shares of Matador Resources from $76.00 to $77.00 and gave the company an “overweight” rating in a research report on Thursday, April 11th. Finally, Roth Mkm restated a “buy” rating and issued a $66.00 target price on shares of Matador Resources in a research note on Monday, March 25th. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, Matador Resources has a consensus rating of “Moderate Buy” and an average price target of $74.30.

Matador Resources Stock Performance

MTDR traded down $0.26 during trading on Friday, reaching $65.32. The company’s stock had a trading volume of 269,005 shares, compared to its average volume of 1,391,248. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.98 and a current ratio of 0.89. Matador Resources has a 52-week low of $42.04 and a 52-week high of $71.08. The company has a market capitalization of $7.81 billion, a price-to-earnings ratio of 8.93 and a beta of 3.32. The company’s fifty day moving average price is $65.25 and its 200-day moving average price is $60.16.

Matador Resources (NYSE:MTDR) last announced its quarterly earnings results on Tuesday, April 23rd. The energy company reported $1.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.32. Matador Resources had a net margin of 28.89% and a return on equity of 20.62%. The firm had revenue of $787.70 million during the quarter, compared to the consensus estimate of $740.99 million. During the same period last year, the firm posted $1.50 EPS. The firm’s quarterly revenue was up 40.6% on a year-over-year basis. On average, equities analysts forecast that Matador Resources will post 7.3 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Matador Resources

Several institutional investors and hedge funds have recently bought and sold shares of MTDR. Vanguard Group Inc. raised its stake in shares of Matador Resources by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 11,020,992 shares of the energy company’s stock worth $626,654,000 after purchasing an additional 83,067 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Matador Resources by 2.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,028,782 shares of the energy company’s stock worth $229,083,000 after buying an additional 87,299 shares during the period. Victory Capital Management Inc. increased its holdings in shares of Matador Resources by 6.3% in the 4th quarter. Victory Capital Management Inc. now owns 3,430,593 shares of the energy company’s stock worth $195,064,000 after purchasing an additional 202,303 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Matador Resources by 31.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,206,041 shares of the energy company’s stock valued at $125,435,000 after acquiring an additional 531,504 shares in the last quarter. Finally, Clearbridge Investments LLC grew its stake in shares of Matador Resources by 0.4% during the fourth quarter. Clearbridge Investments LLC now owns 1,820,404 shares of the energy company’s stock valued at $103,508,000 after buying an additional 6,980 shares during the last quarter. 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.