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

Matador Resources (NYSE:MTDR) had its target price lifted by Citigroup from $53.00 to $62.00 in a report issued on Thursday morning,Benzinga reports. The brokerage currently has a buy rating on the energy company’s stock.

Several other research analysts have also commented on the company. KeyCorp reissued an “overweight” rating on shares of Matador Resources in a research report on Friday, December 19th. Royal Bank Of Canada cut their target price on Matador Resources from $62.00 to $60.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 13th. BMO Capital Markets reiterated an “outperform” rating on shares of Matador Resources in a report on Thursday, December 18th. Wells Fargo & Company lowered shares of Matador Resources from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $61.00 to $47.00 in a research report on Tuesday, January 27th. Finally, Mizuho raised their price target on shares of Matador Resources from $67.00 to $70.00 and gave the company an “outperform” rating in a report on Friday, December 12th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $58.82.

Matador Resources Stock Performance

Shares of MTDR stock opened at $56.37 on Thursday. The firm has a market cap of $7.00 billion, a price-to-earnings ratio of 9.24 and a beta of 1.07. Matador Resources has a 52-week low of $35.19 and a 52-week high of $56.55. The company has a quick ratio of 0.75, a current ratio of 0.79 and a debt-to-equity ratio of 0.57. The company’s 50 day moving average is $46.20 and its 200 day moving average is $44.72.

Matador Resources (NYSE:MTDR) last posted its earnings results on Tuesday, February 24th. The energy company reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.16. The company had revenue of $847.99 million during 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 revenue was down 15.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.83 earnings per share. On average, sell-side analysts anticipate that Matador Resources will post 8.53 EPS for the current fiscal year.

Matador Resources Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 10th. Shareholders of record on Friday, February 27th will be issued a $0.375 dividend. This represents a $1.50 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend is Friday, February 27th. Matador Resources’s dividend payout ratio (DPR) is currently 24.59%.

Hedge Funds Weigh In On Matador Resources

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

Matador Resources Company Profile

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.