JPMorgan Chase & Co. Increases Matador Resources (NYSE:MTDR) Price Target to $77.00

Matador Resources (NYSE:MTDR) had its price target boosted by analysts at JPMorgan Chase & Co. from $76.00 to $77.00 in a research report issued on Thursday, Benzinga reports. The brokerage currently has an “overweight” rating on the energy company’s stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 12.34% from the stock’s current price.

Several other equities research analysts have also recently weighed in on the company. KeyCorp decreased their target price on Matador Resources from $76.00 to $71.00 and set an “overweight” rating for the company in a research note on Thursday, January 11th. Benchmark reduced their price target on shares of Matador Resources from $71.00 to $62.00 and set a “buy” rating for the company in a research report on Thursday, January 25th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $70.00 price objective on shares of Matador Resources in a report on Tuesday, March 5th. Truist Financial boosted their target price on Matador Resources from $82.00 to $85.00 and gave the company a “buy” rating in a report on Friday, April 5th. Finally, TD Cowen raised their price target on Matador Resources from $64.00 to $72.00 and gave the stock an “outperform” rating in a research note on Monday, March 4th. One analyst has rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $72.50.

Matador Resources Price Performance

MTDR stock opened at $68.54 on Thursday. The business’s 50-day moving average is $63.55 and its two-hundred day moving average is $59.69. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.04 and a quick ratio of 0.98. The firm has a market capitalization of $8.19 billion, a P/E ratio of 9.72 and a beta of 3.32. Matador Resources has a 1 year low of $42.04 and a 1 year high of $71.08.

Matador Resources (NYSE:MTDR) last issued its 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 during the quarter, compared to analyst estimates of $842.96 million. During the same period last year, the business earned $2.08 EPS. The firm’s revenue was up 18.2% compared to the same quarter last year. Analysts anticipate that Matador Resources will post 6.88 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Matador Resources

Several institutional investors have recently bought and sold shares of the company. Parkside Financial Bank & Trust increased its position in Matador Resources by 82.0% during the 3rd quarter. Parkside Financial Bank & Trust now owns 444 shares of the energy company’s stock worth $26,000 after purchasing an additional 200 shares during the period. Rise Advisors LLC acquired a new position in Matador Resources during the first quarter worth $34,000. Oakworth Capital Inc. purchased a new position in Matador Resources in the fourth quarter worth $31,000. Financial Management Professionals Inc. acquired a new stake in Matador Resources in the fourth quarter valued at $34,000. Finally, McGlone Suttner Wealth Management Inc. acquired a new stake in Matador Resources in the fourth quarter valued at $35,000. 91.98% of the stock is owned by institutional investors and hedge funds.

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.