Fintel reports that on July 27, 2023, Keybanc maintained coverage of Matador Resources (NYSE:MTDR) with a Overweight recommendation.
Analyst Price Forecast Suggests 32.03% Upside
As of July 6, 2023, the average one-year price target for Matador Resources is 70.30. The forecasts range from a low of 60.60 to a high of $85.05. The average price target represents an increase of 32.03% from its latest reported closing price of 53.24.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Matador Resources is 3,131MM, an increase of 22.81%. The projected annual non-GAAP EPS is 9.68.
What is the Fund Sentiment?
There are 913 funds or institutions reporting positions in Matador Resources. This is a decrease of 29 owner(s) or 3.08% in the last quarter. Average portfolio weight of all funds dedicated to MTDR is 0.33%, a decrease of 14.83%. Total shares owned by institutions decreased in the last three months by 1.64% to 127,715K shares. 
The put/call ratio of MTDR is 0.54, indicating a bullish outlook.
What are Other Shareholders Doing?
Invesco holds 3,718K shares representing 3.12% ownership of the company. In it's prior filing, the firm reported owning 4,437K shares, representing a decrease of 19.35%. The firm decreased its portfolio allocation in MTDR by 33.57% over the last quarter.
Alliancebernstein holds 3,544K shares representing 2.97% ownership of the company. In it's prior filing, the firm reported owning 3,288K shares, representing an increase of 7.21%. The firm decreased its portfolio allocation in MTDR by 27.71% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 3,517K shares representing 2.95% ownership of the company. In it's prior filing, the firm reported owning 3,410K shares, representing an increase of 3.04%. The firm decreased its portfolio allocation in MTDR by 20.72% over the last quarter.
IJH - iShares Core S&P Mid-Cap ETF holds 3,463K shares representing 2.91% ownership of the company. In it's prior filing, the firm reported owning 3,467K shares, representing a decrease of 0.10%. The firm decreased its portfolio allocation in MTDR by 20.40% over the last quarter.
Silvercrest Asset Management Group holds 3,312K shares representing 2.78% ownership of the company. In it's prior filing, the firm reported owning 3,354K shares, representing a decrease of 1.27%. The firm decreased its portfolio allocation in MTDR by 18.80% over the last quarter.
Matador Resources Background Information
(This description is provided by the company.)
Matador is an independent energy company engaged in the exploration, development, production and acquisition of oil and natural gas resources in the United States, with an emphasis on oil and natural gas shale and other unconventional plays. Its current operations are focused primarily on the oil and liquids-rich portion of the Wolfcamp and Bone Spring plays in the Delaware Basin in Southeast New Mexico and West Texas. Matador also operates in the Eagle Ford shale play in South Texas and the Haynesville shale and Cotton Valley plays in Northwest Louisiana. Additionally, Matador conducts midstream operations, primarily through its midstream joint venture, San Mateo, in support of its exploration, development and production operations and provides natural gas processing, oil transportation services, natural gas, oil and produced water gathering services and produced water disposal services to third parties.
Additional reading:
- MATADOR RESOURCES COMPANY REPORTS SECOND QUARTER 2023 RESULTS, INCREASES PRODUCTION GUIDANCE AND DECREASES CAPITAL EXPENDITURE GUIDANCE
- MATADOR RESOURCES COMPANY DECLARES QUARTERLY CASH DIVIDEND
- Matador Resources Company Unaudited Pro Forma Condensed Combined Financial Information
- Advance Energy Partners Holdings, LLC Consolidated Financial Statements December 31, 2022 Advance Energy Partners Holdings, LLC Index December 31, 2022 Page(s) Report of Independent Auditors ...........................................................
- Third Amendment to Fourth Amended and Restated Credit Agreement, dated as of April 10, 2023, by and among MRC Energy Company, as Borrower, the Lenders party thereto and Truist Bank, as Administrative Agent for the Lenders (filed herewith).
This story originally appeared on Fintel.
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