Matador Resources (NYSE:MTDR) Price Target Raised to $63.00

Matador Resources (NYSE:MTDR) had its price objective raised by Wells Fargo & Company from $54.00 to $63.00 in a research report released on Thursday morning,Benzinga reports. The brokerage currently has an equal weight rating on the energy company’s stock.

Several other analysts have also recently issued reports on MTDR. TD Cowen upped their price objective on Matador Resources from $60.00 to $65.00 and gave the stock a “buy” rating in a report on Tuesday, March 17th. Royal Bank Of Canada cut their target price on Matador Resources from $62.00 to $60.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 13th. Zacks Research raised Matador Resources from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, April 8th. Morgan Stanley cut their target price on Matador Resources from $56.00 to $52.00 and set an “equal weight” rating on the stock in a research report on Friday, January 23rd. Finally, Citigroup boosted their target price on Matador Resources from $62.00 to $77.00 and gave the company a “buy” rating in a research report on Tuesday, March 31st. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $62.62.

Matador Resources Stock Down 5.7%

Shares of MTDR opened at $55.57 on Thursday. The stock has a market capitalization of $6.90 billion, a price-to-earnings ratio of 9.11 and a beta of 0.91. Matador Resources has a 1 year low of $37.14 and a 1 year high of $66.84. The business’s 50 day simple moving average is $56.03 and its 200-day simple moving average is $47.16. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.79 and a quick ratio of 0.75.

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. The business had revenue of $847.99 million for the quarter, compared to analysts’ expectations 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 in the prior year, the firm earned $1.83 EPS. As a group, equities analysts expect that Matador Resources will post 8.53 earnings per share for the current fiscal year.

Matador Resources Announces Dividend

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

Hedge Funds Weigh In On Matador Resources

Several large investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its position in Matador Resources by 0.7% in the 3rd quarter. Vanguard Group Inc. now owns 14,780,888 shares of the energy company’s stock valued at $664,105,000 after acquiring an additional 101,613 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Matador Resources by 4.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 6,670,265 shares of the energy company’s stock valued at $283,089,000 after acquiring an additional 258,745 shares during the last quarter. State Street Corp grew its position in Matador Resources by 1.9% in the 4th quarter. State Street Corp now owns 4,617,864 shares of the energy company’s stock valued at $195,982,000 after acquiring an additional 86,344 shares during the last quarter. LSV Asset Management grew its position in Matador Resources by 8.8% in the 4th quarter. LSV Asset Management now owns 3,842,011 shares of the energy company’s stock valued at $163,055,000 after acquiring an additional 309,708 shares during the last quarter. Finally, Wellington Management Group LLP grew its position in Matador Resources by 65.0% in the 4th quarter. Wellington Management Group LLP now owns 3,406,182 shares of the energy company’s stock valued at $144,558,000 after acquiring an additional 1,342,145 shares during the last quarter. 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.