Matador Resources (NYSE:MTDR) Given New $65.00 Price Target at TD Cowen

Matador Resources (NYSE:MTDR) had its price target hoisted by TD Cowen from $60.00 to $65.00 in a research report released on Tuesday,Benzinga reports. TD Cowen currently has a buy rating on the energy company’s stock.

Several other analysts have also recently weighed in on the company. Wells Fargo & Company lifted their price target on Matador Resources from $47.00 to $54.00 and gave the stock an “equal weight” rating in a report on Monday. BMO Capital Markets increased their price objective on Matador Resources from $60.00 to $65.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 11th. Royal Bank Of Canada dropped their target price on Matador Resources from $62.00 to $60.00 and set an “outperform” rating for the company in a report on Tuesday, January 13th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Matador Resources in a research report on Friday, January 9th. Finally, KeyCorp reissued an “overweight” rating on shares of Matador Resources in a report on Friday, December 19th. Eleven research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $60.31.

Matador Resources Stock Performance

MTDR opened at $57.64 on Tuesday. The business has a 50 day moving average of $48.17 and a 200-day moving average of $45.07. Matador Resources has a 12-month low of $35.19 and a 12-month high of $58.32. The stock has a market cap of $7.16 billion, a price-to-earnings ratio of 9.45 and a beta of 1.07. The company has a quick ratio of 0.75, a current ratio of 0.79 and a debt-to-equity ratio of 0.57.

Matador Resources (NYSE:MTDR) last issued its quarterly earnings data on Tuesday, February 24th. The energy company reported $0.87 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $847.99 million during the quarter, compared to the consensus estimate of $811.13 million. During the same period last year, the business posted $1.83 earnings per share. The business’s revenue for the quarter was down 15.7% compared to the same quarter last year. On average, equities research analysts expect that Matador Resources will post 8.53 earnings per share for the current year.

Matador Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 10th. Stockholders of record on Friday, February 27th were paid a $0.375 dividend. The ex-dividend date was Friday, February 27th. This represents a $1.50 annualized dividend and a dividend yield of 2.6%. Matador Resources’s payout ratio is currently 24.59%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Rockefeller Capital Management L.P. grew its holdings in Matador Resources by 179.6% in the fourth quarter. Rockefeller Capital Management L.P. now owns 2,869 shares of the energy company’s stock worth $122,000 after purchasing an additional 1,843 shares during the period. MidFirst Bank acquired a new position in shares of Matador Resources during the fourth quarter valued at about $214,000. Invesco Ltd. boosted its position in shares of 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 in the last quarter. XTX Topco Ltd bought a new position in shares of Matador Resources during the 4th quarter worth about $340,000. Finally, Virtus Investment Advisers LLC acquired a new stake in shares of Matador Resources in the 4th quarter valued at about $165,000. 91.98% of the stock is owned by 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.