Matador Resources (NYSE:MTDR) Price Target Raised to $78.00

Matador Resources (NYSE:MTDR) had its target price boosted by Mizuho from $76.00 to $78.00 in a research report sent to investors on Wednesday morning, Benzinga reports. The brokerage currently has a buy rating on the energy company’s stock.

A number of other equities analysts have also recently weighed in on MTDR. TD Cowen upped their price target on Matador Resources from $64.00 to $72.00 and gave the stock an outperform rating in a report on Monday, March 4th. Royal Bank of Canada restated an outperform rating and issued a $70.00 price target on shares of Matador Resources in a report on Tuesday, March 5th. Truist Financial upped their price target on Matador Resources from $82.00 to $85.00 and gave the stock a buy rating in a report on Friday, April 5th. StockNews.com upgraded Matador Resources from a sell rating to a hold rating in a report on Thursday, February 22nd. Finally, JPMorgan Chase & Co. increased their target price on Matador Resources from $76.00 to $77.00 and gave the company an overweight rating in a research note 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’s stock. According to MarketBeat, Matador Resources currently has a consensus rating of Moderate Buy and an average price target of $74.30.

Matador Resources Stock Up 0.0 %

MTDR opened at $65.60 on Wednesday. The firm has a 50 day moving average price of $65.38 and a 200 day moving average price of $60.20. The company has a market cap of $7.84 billion, a PE ratio of 8.99 and a beta of 3.32. Matador Resources has a 1 year low of $42.04 and a 1 year high of $71.08. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.98 and a current ratio of 0.89.

Matador Resources (NYSE:MTDR) last posted its earnings results on Tuesday, April 23rd. The energy company reported $1.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.39 by $0.32. The firm had revenue of $787.70 million during the quarter, compared to the consensus estimate of $740.99 million. Matador Resources had a net margin of 28.89% and a return on equity of 20.62%. The company’s revenue was up 40.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.50 EPS. Sell-side analysts expect that Matador Resources will post 7.3 earnings per share for the current year.

Matador Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 17th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.22%. The ex-dividend date of this dividend is Thursday, May 16th. Matador Resources’s dividend payout ratio (DPR) is currently 10.96%.

Hedge Funds Weigh In On Matador Resources

A number of hedge funds have recently added to or reduced their stakes in the business. Atria Wealth Solutions Inc. boosted its holdings in Matador Resources by 5.3% in the fourth quarter. Atria Wealth Solutions Inc. now owns 3,880 shares of the energy company’s stock worth $221,000 after purchasing an additional 195 shares during the period. Great Lakes Advisors LLC boosted its holdings in Matador Resources by 1.4% in the third quarter. Great Lakes Advisors LLC now owns 13,851 shares of the energy company’s stock worth $824,000 after purchasing an additional 196 shares during the period. Parkside Financial Bank & Trust lifted its stake in Matador Resources by 82.0% in the third quarter. Parkside Financial Bank & Trust now owns 444 shares of the energy company’s stock valued at $26,000 after buying an additional 200 shares during the last quarter. Verdence Capital Advisors LLC lifted its stake in Matador Resources by 3.0% in the third quarter. Verdence Capital Advisors LLC now owns 6,964 shares of the energy company’s stock valued at $414,000 after buying an additional 201 shares during the last quarter. Finally, Huntington National Bank lifted its stake in Matador Resources by 11.4% in the third quarter. Huntington National Bank now owns 2,112 shares of the energy company’s stock valued at $126,000 after buying an additional 216 shares during the last quarter. Institutional investors and hedge funds own 91.98% of the company’s stock.

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.