Matador Resources (NYSE:MTDR) Hits New 12-Month High Following Analyst Upgrade

Matador Resources (NYSE:MTDR) shares hit a new 52-week high on Thursday after JPMorgan Chase & Co. raised their price target on the stock from $76.00 to $77.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Matador Resources traded as high as $70.55 and last traded at $69.86, with a volume of 81458 shares. The stock had previously closed at $70.15.

Several other brokerages also recently commented on MTDR. TD Cowen lifted their target price 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. Benchmark decreased their target price on shares of Matador Resources from $71.00 to $62.00 and set a “buy” rating on the stock in a research note on Thursday, January 25th. Truist Financial lifted their target price on shares of Matador Resources from $82.00 to $85.00 and gave the stock a “buy” rating in a research note on Friday, April 5th. Mizuho lifted their target price on shares of Matador Resources from $67.00 to $76.00 and gave the stock a “buy” rating in a research note on Monday, April 1st. Finally, Roth Mkm reissued a “buy” rating and set a $66.00 price objective on shares of Matador Resources in a research report on Monday, March 25th. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $72.50.

Hedge Funds Weigh In On Matador Resources

Hedge funds have recently bought and sold shares of the company. Algert Global LLC lifted its stake in Matador Resources by 1,500.9% during the 3rd quarter. Algert Global LLC now owns 71,240 shares of the energy company’s stock valued at $4,237,000 after acquiring an additional 66,790 shares during the period. Flputnam Investment Management Co. bought a new position in Matador Resources during the 3rd quarter valued at about $204,000. Natixis Advisors L.P. lifted its stake in Matador Resources by 85.4% during the 3rd quarter. Natixis Advisors L.P. now owns 134,903 shares of the energy company’s stock valued at $8,024,000 after acquiring an additional 62,124 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Matador Resources by 2.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,428,877 shares of the energy company’s stock worth $84,990,000 after purchasing an additional 33,859 shares during the period. Finally, William Blair Investment Management LLC bought a new position in shares of Matador Resources in the 3rd quarter worth approximately $33,720,000. Institutional investors own 91.98% of the company’s stock.

Matador Resources Stock Down 0.8 %

The company has a current ratio of 1.04, a quick ratio of 0.98 and a debt-to-equity ratio of 0.53. The stock has a market cap of $8.31 billion, a P/E ratio of 9.87 and a beta of 3.32. The company’s 50 day moving average price is $63.25 and its two-hundred day moving average price is $59.62.

Matador Resources (NYSE:MTDR) last issued its quarterly earnings results on Wednesday, February 21st. The energy company reported $1.99 earnings per share for the quarter, missing the consensus estimate of $2.04 by ($0.05). Matador Resources had a net margin of 30.14% and a return on equity of 21.54%. The firm had revenue of $836.13 million for the quarter, compared to analysts’ expectations of $842.96 million. During the same period in the prior year, the firm earned $2.08 EPS. Matador Resources’s revenue for the quarter was up 18.2% compared to the same quarter last year. Equities analysts forecast that Matador Resources will post 6.88 earnings per share for the current year.

Matador Resources Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 13th. Shareholders of record on Friday, February 23rd were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.15%. The ex-dividend date was Thursday, February 22nd. Matador Resources’s dividend payout ratio is currently 11.35%.

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 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.