Matador Resources (NYSE:MTDR) Price Target Raised to $52.00

Matador Resources (NYSE:MTDR) had its price target upped by UBS Group from $50.00 to $52.00 in a report released on Thursday morning,Benzinga reports. The firm currently has a neutral rating on the energy company’s stock.

Several other research firms have also weighed in on MTDR. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Matador Resources in a report on Friday, January 9th. TD Cowen upgraded shares of Matador Resources to a “strong-buy” rating in a research report on Monday, February 9th. Mizuho upped their price objective on shares of Matador Resources from $67.00 to $70.00 and gave the stock an “outperform” rating in a research note on Friday, December 12th. Citigroup started coverage on shares of Matador Resources in a report on Monday, December 8th. They set a “buy” rating and a $53.00 price objective for the company. Finally, Royal Bank Of Canada cut their target price on shares of Matador Resources from $62.00 to $60.00 and set an “outperform” rating for the company in a research note on Tuesday, January 13th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $58.82.

Matador Resources Trading Up 2.5%

Shares of MTDR opened at $56.37 on Thursday. The company has a current ratio of 0.79, a quick ratio of 0.75 and a debt-to-equity ratio of 0.57. The stock has a market cap of $7.00 billion, a PE ratio of 9.24 and a beta of 1.07. Matador Resources has a 1 year low of $35.19 and a 1 year high of $56.55. The stock has a 50 day simple moving average of $46.20 and a 200-day simple moving average of $44.72.

Matador Resources (NYSE:MTDR) last announced its quarterly earnings results on Tuesday, February 24th. The energy company reported $0.87 EPS for the quarter, beating the consensus estimate of $0.71 by $0.16. The business had revenue of $847.99 million for the quarter, compared to analyst estimates of $811.13 million. Matador Resources had a return on equity of 12.36% and a net margin of 20.54%.Matador Resources’s quarterly revenue was down 15.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.83 EPS. On average, sell-side analysts predict that Matador Resources will post 8.53 EPS for the current fiscal year.

Matador Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Friday, February 27th will be issued a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date is Friday, February 27th. Matador Resources’s dividend payout ratio is currently 24.59%.

Hedge Funds Weigh In On Matador Resources

Hedge funds have recently added to or reduced their stakes in the stock. MidFirst Bank acquired a new position in shares of Matador Resources during the 4th quarter worth about $214,000. Invesco Ltd. raised its position in shares of Matador Resources by 45.9% in the 4th quarter. Invesco Ltd. now owns 594,849 shares of the energy company’s stock valued at $25,245,000 after acquiring an additional 187,178 shares during the period. XTX Topco Ltd bought a new position in Matador Resources during the 4th quarter worth approximately $340,000. Virtus Investment Advisers LLC acquired a new position in Matador Resources during the fourth quarter valued at approximately $165,000. Finally, Wellington Management Group LLP grew its holdings in Matador Resources by 65.0% during the fourth quarter. Wellington Management Group LLP now owns 3,406,182 shares of the energy company’s stock valued at $144,558,000 after purchasing an additional 1,342,145 shares during the period. Institutional investors and hedge funds own 91.98% of the company’s stock.

About Matador Resources

Matador Resources Company is an independent energy firm primarily engaged in the exploration, development and production of oil, natural gas liquids (NGLs) and natural gas. The company focuses on upstream operations, utilizing horizontal drilling and hydraulic fracturing techniques to unlock hydrocarbons from key reservoirs. Its asset base includes both operated and non‐operated positions, with a particular emphasis on the Permian Basin, one of the most prolific oil-producing regions in North America.

Matador’s core operations are concentrated in the Delaware Basin segment of the Permian Basin, where it holds substantial acreage in both Reeves and Culberson counties in West Texas and Eddy and Lea counties in New Mexico.