SunTrust Banks Analysts Raise Earnings Estimates for Matador Resources Co (NYSE:MTDR)

Matador Resources Co (NYSE:MTDR) – Equities research analysts at SunTrust Banks boosted their Q3 2020 earnings per share (EPS) estimates for Matador Resources in a research report issued to clients and investors on Wednesday, October 16th. SunTrust Banks analyst N. Dingmann now forecasts that the energy company will post earnings per share of $0.47 for the quarter, up from their previous forecast of $0.46. SunTrust Banks also issued estimates for Matador Resources’ Q4 2020 earnings at $0.51 EPS.

Several other equities analysts have also recently commented on MTDR. Wells Fargo & Co set a $33.00 price target on shares of Matador Resources and gave the company a “hold” rating in a report on Thursday, July 11th. Capital One Financial raised shares of Matador Resources from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $17.00 to $22.00 in a research note on Friday, October 4th. Stephens raised shares of Matador Resources from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $22.00 to $24.00 in a research note on Tuesday, July 23rd. Stifel Nicolaus set a $22.00 price objective on shares of Matador Resources and gave the company a “buy” rating in a research note on Monday, September 30th. Finally, Williams Capital started coverage on shares of Matador Resources in a research note on Wednesday, September 18th. They issued a “buy” rating and a $26.00 price objective for the company. One research 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. Matador Resources currently has an average rating of “Buy” and a consensus target price of $27.08.

Matador Resources stock opened at $13.02 on Monday. The company’s fifty day simple moving average is $15.50 and its 200-day simple moving average is $17.43. The company has a quick ratio of 0.75, a current ratio of 0.81 and a debt-to-equity ratio of 0.81. Matador Resources has a 12 month low of $12.16 and a 12 month high of $30.88. The stock has a market cap of $1.45 billion, a P/E ratio of 8.04, a P/E/G ratio of 2.98 and a beta of 2.00.

Matador Resources (NYSE:MTDR) last posted its quarterly earnings results on Wednesday, July 31st. The energy company reported $0.30 EPS for the quarter, beating the consensus estimate of $0.19 by $0.11. Matador Resources had a net margin of 19.10% and a return on equity of 8.71%. The business had revenue of $241.70 million for the quarter, compared to analysts’ expectations of $210.42 million. During the same period in the previous year, the company posted $0.41 EPS. Matador Resources’s revenue was up 14.3% on a year-over-year basis.

In other news, Chairman Joseph Wm Foran bought 8,000 shares of the business’s stock in a transaction on Monday, August 5th. The stock was purchased at an average price of $15.05 per share, with a total value of $120,400.00. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Bradley M. Robinson bought 2,000 shares of the business’s stock in a transaction on Friday, August 9th. The shares were purchased at an average cost of $15.34 per share, with a total value of $30,680.00. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 28,734 shares of company stock valued at $419,588. 6.90% of the stock is owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the business. Essex Investment Management Co. LLC increased its stake in Matador Resources by 58.0% in the third quarter. Essex Investment Management Co. LLC now owns 162,438 shares of the energy company’s stock valued at $2,685,000 after acquiring an additional 59,617 shares during the period. CWM LLC grew its stake in Matador Resources by 8.3% during the third quarter. CWM LLC now owns 464,108 shares of the energy company’s stock worth $7,672,000 after buying an additional 35,401 shares during the last quarter. State of Michigan Retirement System grew its stake in Matador Resources by 3.6% during the third quarter. State of Michigan Retirement System now owns 31,800 shares of the energy company’s stock worth $526,000 after buying an additional 1,100 shares during the last quarter. Fenimore Asset Management Inc. grew its stake in Matador Resources by 14.5% during the third quarter. Fenimore Asset Management Inc. now owns 604,647 shares of the energy company’s stock worth $9,995,000 after buying an additional 76,575 shares during the last quarter. Finally, Brinker Capital Inc. grew its stake in Matador Resources by 41.0% during the third quarter. Brinker Capital Inc. now owns 46,335 shares of the energy company’s stock worth $766,000 after buying an additional 13,473 shares during the last quarter. 95.15% of the stock is owned by hedge funds and other 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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Earnings History and Estimates for Matador Resources (NYSE:MTDR)

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