Matador Resources (NYSE:MTDR) Price Target Raised to $54.00 at Wells Fargo & Company

Matador Resources (NYSE:MTDR) had its price objective hoisted by Wells Fargo & Company from $47.00 to $54.00 in a research report report published on Monday morning,Benzinga reports. They currently have an equal weight rating on the energy company’s stock.

MTDR has been the topic of a number of other reports. BMO Capital Markets boosted their price target on shares of Matador Resources from $60.00 to $65.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 11th. KeyCorp restated an “overweight” rating on shares of Matador Resources in a research report on Friday, December 19th. Citigroup lifted their price objective on Matador Resources from $53.00 to $62.00 and gave the company a “buy” rating in a report on Thursday, March 5th. Mizuho boosted their target price on Matador Resources from $67.00 to $70.00 and gave the stock an “outperform” rating in a research report on Friday, December 12th. Finally, Royal Bank Of Canada cut their target price on 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 issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $59.92.

Matador Resources Price Performance

Shares of NYSE MTDR opened at $56.36 on Monday. The stock has a fifty day moving average price of $47.84 and a 200 day moving average price of $45.02. Matador Resources has a 1-year low of $35.19 and a 1-year high of $58.32. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.79 and a quick ratio of 0.75. The company has a market cap of $7.00 billion, a PE ratio of 9.24 and a beta of 1.07.

Matador Resources (NYSE:MTDR) last announced its quarterly earnings data on Tuesday, February 24th. The energy company reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.16. Matador Resources had a net margin of 20.54% and a return on equity of 12.36%. The company had revenue of $847.99 million for the quarter, compared to analysts’ expectations of $811.13 million. During the same period in the previous year, the company posted $1.83 EPS. Matador Resources’s revenue was down 15.7% compared to the same quarter last year. Sell-side analysts forecast that Matador Resources will post 8.53 EPS for the current year.

Matador Resources Dividend Announcement

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

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Vaughan Nelson Investment Management L.P. increased its stake in Matador Resources by 64.3% in the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 1,100,805 shares of the energy company’s stock valued at $49,459,000 after purchasing an additional 431,010 shares in the last quarter. Thrivent Financial for Lutherans raised its holdings in Matador Resources by 3.8% during the third quarter. Thrivent Financial for Lutherans now owns 1,032,602 shares of the energy company’s stock worth $46,395,000 after purchasing an additional 37,889 shares during the last quarter. Thomist Capital Management LP purchased a new stake in Matador Resources during the second quarter worth $4,289,000. Hussman Strategic Advisors Inc. purchased a new stake in Matador Resources during the third quarter worth $1,887,000. Finally, Mitsubishi UFJ Trust & Banking Corp grew its holdings in Matador Resources by 309.6% in the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 32,010 shares of the energy company’s stock valued at $1,438,000 after purchasing an additional 24,195 shares during the last quarter. 91.98% of the stock is owned by hedge funds and other institutional investors.

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.