Citigroup Issues Positive Forecast for Matador Resources (NYSE:MTDR) Stock Price

Matador Resources (NYSE:MTDR) had its target price hoisted by Citigroup from $62.00 to $77.00 in a report issued on Tuesday morning,Benzinga reports. Citigroup currently has a buy rating on the energy company’s stock.

Several other research firms have also recently issued reports on MTDR. Mizuho raised their price objective on shares of Matador Resources from $67.00 to $70.00 and gave the stock an “outperform” rating in a research report on Friday, December 12th. Morgan Stanley decreased their target price on shares of Matador Resources from $56.00 to $52.00 and set an “equal weight” rating on the stock in a report on Friday, January 23rd. TD Cowen increased their price target on shares of Matador Resources from $60.00 to $65.00 and gave the company a “buy” rating in a research note on Tuesday, March 17th. UBS Group raised their price target on shares of Matador Resources from $50.00 to $52.00 and gave the stock a “neutral” rating in a report on Thursday, March 5th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Matador Resources in a research report on Friday, January 9th. Eleven investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $61.36.

Matador Resources Stock Performance

NYSE MTDR opened at $63.19 on Tuesday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.75 and a current ratio of 0.79. The stock’s fifty day moving average is $51.93 and its two-hundred day moving average is $45.93. The firm has a market capitalization of $7.85 billion, a P/E ratio of 10.36 and a beta of 1.07. Matador Resources has a fifty-two week low of $35.19 and a fifty-two week high of $66.84.

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. The business had revenue of $847.99 million during the quarter, compared to the consensus estimate of $811.13 million. Matador Resources had a return on equity of 12.36% and a net margin of 20.54%.The company’s revenue for the quarter was down 15.7% on a year-over-year basis. During the same period last year, the company earned $1.83 EPS. On average, research analysts anticipate that Matador Resources will post 8.53 earnings per share 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 $0.375 dividend. This represents a $1.50 annualized dividend and a yield of 2.4%. The ex-dividend date was Friday, February 27th. Matador Resources’s payout ratio is 24.59%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Kestra Investment Management LLC increased its position in shares of Matador Resources by 225.2% during the second 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. Rothschild Investment LLC lifted its holdings in shares of Matador Resources by 5,927.3% in the 3rd quarter. Rothschild Investment LLC now owns 663 shares of the energy company’s stock worth $30,000 after acquiring an additional 652 shares during the last quarter. Measured Wealth Private Client Group LLC purchased a new position in shares of Matador Resources during the 3rd quarter worth approximately $35,000. Geneos Wealth Management Inc. increased its holdings in Matador Resources by 361.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 881 shares of the energy company’s stock valued at $45,000 after purchasing an additional 690 shares during the last quarter. Finally, Gilpin Wealth Management LLC acquired a new stake in Matador Resources in the 4th quarter valued at approximately $42,000. Hedge funds and other institutional investors 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.