Matador Resources Co (NYSE:MTDR) – Investment analysts at SunTrust Banks raised their Q3 2020 earnings per share estimates for shares of Matador Resources in a research note issued on Wednesday, October 16th. SunTrust Banks analyst N. Dingmann now anticipates that the energy company will post earnings of $0.47 per share for the quarter, up from their prior estimate of $0.46. SunTrust Banks also issued estimates for Matador Resources’ Q4 2020 earnings at $0.51 EPS.
Several other analysts have also weighed in on MTDR. Capital One Financial raised Matador Resources from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $17.00 to $22.00 in a report on Friday, October 4th. ValuEngine upgraded Matador Resources from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Stifel Nicolaus set a $22.00 target price on Matador Resources and gave the stock a “buy” rating in a research report on Monday, September 30th. Wells Fargo & Co set a $33.00 target price on Matador Resources and gave the stock a “hold” rating in a research report on Thursday, July 11th. Finally, Stephens upgraded Matador Resources from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $22.00 to $24.00 in a research report on Tuesday, July 23rd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the company’s stock. Matador Resources currently has an average rating of “Buy” and an average price target of $27.77.
Matador Resources (NYSE:MTDR) last announced its quarterly earnings data on Wednesday, July 31st. The energy company reported $0.30 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.19 by $0.11. Matador Resources had a return on equity of 8.71% and a net margin of 19.10%. The company had revenue of $241.70 million for the quarter, compared to analyst estimates of $210.42 million. During the same quarter last year, the firm earned $0.41 EPS. Matador Resources’s revenue for the quarter was up 14.3% compared to the same quarter last year.
In other news, Chairman Joseph Wm Foran bought 8,000 shares of the stock in a transaction dated Monday, August 5th. The stock was bought at an average cost of $15.05 per share, with a total value of $120,400.00. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Timothy E. Parker bought 3,584 shares of the stock in a transaction dated Thursday, August 15th. The stock was purchased at an average cost of $13.94 per share, with a total value of $49,960.96. Following the completion of the purchase, the director now directly owns 24,151 shares in the company, valued at approximately $336,664.94. The disclosure for this purchase can be found here. Insiders bought a total of 28,734 shares of company stock valued at $419,588 over the last three months. Insiders own 6.90% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Oregon Public Employees Retirement Fund grew its stake in shares of Matador Resources by 1.4% during the second quarter. Oregon Public Employees Retirement Fund now owns 42,022 shares of the energy company’s stock worth $835,000 after purchasing an additional 592 shares during the period. State Board of Administration of Florida Retirement System grew its stake in shares of Matador Resources by 1.5% during the second quarter. State Board of Administration of Florida Retirement System now owns 50,675 shares of the energy company’s stock worth $1,007,000 after purchasing an additional 770 shares during the period. MML Investors Services LLC grew its stake in shares of Matador Resources by 8.3% during the second quarter. MML Investors Services LLC now owns 11,969 shares of the energy company’s stock worth $238,000 after purchasing an additional 922 shares during the period. Arizona State Retirement System grew its stake in shares of Matador Resources by 1.3% during the second quarter. Arizona State Retirement System now owns 75,315 shares of the energy company’s stock worth $1,497,000 after purchasing an additional 935 shares during the period. Finally, Tower Research Capital LLC TRC acquired a new stake in shares of Matador Resources during the second quarter worth $30,000. 95.15% of the stock is owned by institutional investors.
About Matador Resources
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 in 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.
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