Matador Resources (NYSE:MTDR) Price Target Cut to $62.00

Matador Resources (NYSE:MTDR) had its price target reduced by Benchmark from $71.00 to $62.00 in a research report released on Tuesday, Benzinga reports. Benchmark currently has a buy rating on the energy company’s stock.

A number of other research firms also recently weighed in on MTDR. Royal Bank of Canada restated an outperform rating and set a $70.00 price target on shares of Matador Resources in a research report on Tuesday, March 5th. KeyCorp raised their price target on Matador Resources from $71.00 to $76.00 and gave the company an overweight rating in a research report on Monday. StockNews.com upgraded Matador Resources from a sell rating to a hold rating in a research report on Thursday, February 22nd. Mizuho lifted their price objective on Matador Resources from $67.00 to $76.00 and gave the stock a buy rating in a report on Monday, April 1st. Finally, JPMorgan Chase & Co. lifted their price objective on Matador Resources from $76.00 to $77.00 and gave the stock an overweight rating in a report on Thursday, April 11th. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus target price of $73.90.

Matador Resources Price Performance

NYSE:MTDR opened at $65.19 on Tuesday. The firm has a market capitalization of $7.79 billion, a price-to-earnings ratio of 9.25 and a beta of 3.32. Matador Resources has a 52-week low of $42.04 and a 52-week high of $71.08. The stock has a fifty day moving average of $65.07 and a 200 day moving average of $60.12. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.98 and a current ratio of 1.04.

Matador Resources (NYSE:MTDR) last posted its quarterly earnings data on Wednesday, February 21st. The energy company reported $1.99 earnings per share (EPS) 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 business had revenue of $836.13 million for the quarter, compared to the consensus estimate of $842.96 million. During the same period in the prior year, the business posted $2.08 EPS. Matador Resources’s quarterly revenue was up 18.2% on a year-over-year basis. On average, research analysts expect that Matador Resources will post 7.14 EPS for the current fiscal year.

Matador Resources Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 17th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $0.80 annualized dividend and a dividend yield of 1.23%. Matador Resources’s payout ratio is presently 11.35%.

Institutional Trading of Matador Resources

Large investors have recently modified their holdings of the business. Parkside Financial Bank & Trust grew its stake in shares of Matador Resources by 82.0% in the third 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 last quarter. Oakworth Capital Inc. bought a new stake in shares of Matador Resources in the fourth quarter worth about $31,000. Financial Management Professionals Inc. bought a new stake in shares of Matador Resources in the fourth quarter worth about $34,000. Rise Advisors LLC bought a new stake in shares of Matador Resources in the first quarter worth about $34,000. Finally, McGlone Suttner Wealth Management Inc. bought a new stake in shares of Matador Resources in the fourth quarter worth about $35,000. 91.98% of the stock is owned by institutional investors.

Matador Resources Company Profile

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.