Matador Resources (NYSE:MTDR) Stock Price Up 3.9% – Time to Buy?

Shares of Matador Resources Company (NYSE:MTDR) rose 3.9% on Friday . The company traded as high as $59.13 and last traded at $59.2740. Approximately 715,989 shares changed hands during mid-day trading, a decline of 63% from the average daily volume of 1,925,003 shares. The stock had previously closed at $57.07.

Analyst Ratings Changes

Several research firms recently commented on MTDR. Wells Fargo & Company boosted their price objective on shares of Matador Resources from $47.00 to $54.00 and gave the stock an “equal weight” rating in a research report on Monday, March 16th. KeyCorp restated an “overweight” rating on shares of Matador Resources in a report on Friday, December 19th. 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 report on Tuesday, January 13th. Mizuho upped 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. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Matador Resources in a research report on Friday, January 9th. Eleven equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $60.31.

Matador Resources Trading Up 2.5%

The firm has a market cap of $7.27 billion, a price-to-earnings ratio of 9.59 and a beta of 1.07. The business has a 50 day moving average of $49.15 and a 200 day moving average of $45.25. 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 announced its earnings results on Tuesday, February 24th. The energy company reported $0.87 earnings per share 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 firm had revenue of $847.99 million during the quarter, compared to the consensus estimate of $811.13 million. During the same quarter in the previous year, the company posted $1.83 EPS. The firm’s revenue for the quarter was down 15.7% on a year-over-year basis. On average, research analysts forecast that Matador Resources Company will post 8.53 earnings per share for the current fiscal year.

Matador Resources Dividend Announcement

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

Institutional Trading of Matador Resources

A number of hedge funds have recently bought and sold shares of the company. Kestra Investment Management LLC raised its holdings in Matador Resources by 225.2% in the 2nd quarter. Kestra Investment Management LLC now owns 517 shares of the energy company’s stock valued at $25,000 after acquiring an additional 358 shares during the last quarter. Allworth Financial LP boosted its holdings in shares of Matador Resources by 182.0% during the second quarter. Allworth Financial LP now owns 564 shares of the energy company’s stock worth $27,000 after purchasing an additional 364 shares during the last quarter. Rothschild Investment LLC grew its position in shares of Matador Resources by 5,927.3% in the third quarter. Rothschild Investment LLC now owns 663 shares of the energy company’s stock valued at $30,000 after purchasing an additional 652 shares during the period. Measured Wealth Private Client Group LLC purchased a new stake in shares of Matador Resources in the third quarter valued at $35,000. Finally, Gilpin Wealth Management LLC acquired a new position in Matador Resources in the fourth quarter valued at $42,000. 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.