Matador Resources (NYSE:MTDR) Sets New 1-Year High After Analyst Upgrade

Matador Resources Company (NYSE:MTDR) shares reached a new 52-week high during trading on Tuesday after TD Cowen raised their price target on the stock from $60.00 to $65.00. TD Cowen currently has a buy rating on the stock. Matador Resources traded as high as $58.32 and last traded at $57.8070, with a volume of 414958 shares. The stock had previously closed at $56.36.

MTDR has been the topic of a number of other research reports. Mizuho raised their price target on Matador Resources from $67.00 to $70.00 and gave the stock an “outperform” rating in a research note on Friday, December 12th. KeyCorp reissued an “overweight” rating on shares of Matador Resources in a report on Friday, December 19th. UBS Group raised their target price on shares of Matador Resources from $50.00 to $52.00 and gave the stock a “neutral” rating in a research report on Thursday, March 5th. BMO Capital Markets lifted their target price on shares of Matador Resources from $60.00 to $65.00 and gave the company an “outperform” rating in a report on Wednesday, March 11th. Finally, Citigroup upped their price target on shares of Matador Resources from $53.00 to $62.00 and gave the company a “buy” rating in a research report on Thursday, March 5th. Eleven analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $60.31.

Institutional Trading of Matador Resources

Several hedge funds have recently made changes to their positions in MTDR. MAI Capital Management increased its stake in shares of Matador Resources by 13.9% during the second quarter. MAI Capital Management now owns 1,726 shares of the energy company’s stock worth $82,000 after acquiring an additional 210 shares during the period. Beacon Pointe Advisors LLC raised its holdings in Matador Resources by 4.3% during the second quarter. Beacon Pointe Advisors LLC now owns 5,281 shares of the energy company’s stock worth $252,000 after purchasing an additional 216 shares in the last quarter. ProShare Advisors LLC lifted its position in Matador Resources by 4.5% in the second quarter. ProShare Advisors LLC now owns 5,163 shares of the energy company’s stock valued at $246,000 after purchasing an additional 220 shares during the period. Fiduciary Trust Co lifted its position in Matador Resources by 2.2% in the third quarter. Fiduciary Trust Co now owns 11,821 shares of the energy company’s stock valued at $531,000 after purchasing an additional 253 shares during the period. Finally, O Shaughnessy Asset Management LLC boosted its holdings in Matador Resources by 2.9% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 9,138 shares of the energy company’s stock valued at $388,000 after purchasing an additional 254 shares in the last quarter. Institutional investors and hedge funds own 91.98% of the company’s stock.

Matador Resources Price Performance

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 fifty day simple moving average of $48.17 and a two-hundred day simple moving average of $45.07. The company has a market cap of $7.16 billion, a PE ratio of 9.45 and a beta of 1.07.

Matador Resources (NYSE:MTDR) last issued its earnings results on Tuesday, February 24th. The energy company reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.16. Matador Resources had a return on equity of 12.36% and a net margin of 20.54%.The business had revenue of $847.99 million during the quarter, compared to the consensus estimate of $811.13 million. During the same period in the prior year, the business posted $1.83 EPS. The company’s revenue for the quarter was down 15.7% on a year-over-year basis. On average, equities analysts predict that Matador Resources Company will post 8.53 EPS for the current fiscal year.

Matador Resources Dividend Announcement

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

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.