Seaport Research Partners Begins Coverage on Matador Resources (NYSE:MTDR)

Equities researchers at Seaport Research Partners initiated coverage on shares of Matador Resources (NYSE:MTDR) in a report issued on Thursday, Briefing.com reports. The brokerage set a “neutral” rating on the energy company’s stock.

Other equities analysts have also recently issued reports about the stock. Weiss Ratings raised shares of Matador Resources from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, August 21st. UBS Group increased their price objective on shares of Matador Resources from $54.00 to $56.00 and gave the stock a “neutral” rating in a research report on Monday, August 10th. Wells Fargo & Company raised shares of Matador Resources from an “equal weight” rating to an “overweight” rating and decreased their price objective for the stock from $79.00 to $77.00 in a research note on Wednesday. Mizuho upgraded Matador Resources to a “strong-buy” rating in a research report on Friday, July 31st. Finally, Wall Street Zen raised Matador Resources from a “hold” rating to a “buy” rating in a research note on Saturday, August 15th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $65.93.

Matador Resources Stock Up 0.5%

Shares of MTDR opened at $59.53 on Thursday. The company has a quick ratio of 0.62, a current ratio of 0.65 and a debt-to-equity ratio of 0.67. The business has a fifty day moving average of $52.56 and a 200 day moving average of $55.10. The company has a market cap of $7.37 billion, a PE ratio of 10.21 and a beta of 0.79. Matador Resources has a 52-week low of $37.14 and a 52-week high of $66.84.

Matador Resources (NYSE:MTDR) last posted its quarterly earnings data on Wednesday, August 5th. The energy company reported $2.61 earnings per share for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $1.06 billion. During the same quarter in the previous year, the business posted $1.53 earnings per share. The business’s revenue was up 32.5% compared to the same quarter last year. On average, sell-side analysts expect that Matador Resources will post 7.26 EPS for the current year.

Insider Activity at Matador Resources

In related news, CFO Christopher P. Calvert acquired 2,500 shares of the stock in a transaction on Thursday, August 27th. The stock was bought at an average cost of $56.64 per share, with a total value of $141,600.00. Following the transaction, the chief financial officer directly owned 44,000 shares in the company, valued at approximately $2,492,160. This represents a 6.02% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP William Thomas Elsener bought 850 shares of the company’s stock in a transaction on Monday, August 10th. The stock was bought at an average price of $50.94 per share, for a total transaction of $43,299.00. Following the completion of the purchase, the executive vice president directly owned 114,879 shares in the company, valued at approximately $5,851,936.26. This represents a 0.75% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders have purchased 25,644 shares of company stock worth $1,344,638. Corporate insiders own 5.90% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Altshuler Shaham Ltd lifted its stake in Matador Resources by 36.7% in the first quarter. Altshuler Shaham Ltd now owns 748 shares of the energy company’s stock worth $47,000 after acquiring an additional 201 shares during the period. Burford Brothers Inc. increased its holdings in shares of Matador Resources by 0.8% during the first quarter. Burford Brothers Inc. now owns 26,798 shares of the energy company’s stock valued at $1,693,000 after acquiring an additional 225 shares in the last quarter. Fiduciary Trust Co increased its stake in Matador Resources by 2.2% during the 3rd quarter. Fiduciary Trust Co now owns 11,821 shares of the energy company’s stock valued at $531,000 after purchasing an additional 253 shares in the last quarter. O Shaughnessy Asset Management LLC raised its holdings in shares of Matador Resources by 2.9% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 9,138 shares of the energy company’s stock worth $388,000 after buying an additional 254 shares during the last quarter. Finally, HB Wealth Management LLC lifted its stake in shares of Matador Resources by 4.4% during the second quarter. HB Wealth Management LLC now owns 6,870 shares of the energy company’s stock worth $342,000 after buying an additional 292 shares during the period. 91.98% of the stock is currently owned by hedge funds and other 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.