Matador Resources (NYSE:MTDR) Now Covered by Truist Financial

Truist Financial started coverage on shares of Matador Resources (NYSE:MTDR) in a report released on Tuesday morning, MarketBeat Ratings reports. The brokerage issued a hold rating and a $60.00 price target on the energy company’s stock.

A number of other brokerages have also recently issued reports on MTDR. 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 report on Tuesday, January 13th. TD Cowen boosted 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. BMO Capital Markets upped their price objective on shares of Matador Resources from $60.00 to $65.00 and gave the stock an “outperform” rating in a report on Wednesday, March 11th. Citigroup raised their price objective on shares of Matador Resources from $53.00 to $62.00 and gave the company a “buy” rating in a research note on Thursday, March 5th. Finally, KeyCorp reiterated an “overweight” rating on shares of Matador Resources in a report on Friday, December 19th. 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.com, the company has an average rating of “Moderate Buy” and an average price target of $60.29.

Matador Resources Stock Performance

Shares of Matador Resources stock opened at $61.01 on Tuesday. The business has a 50-day simple moving average of $49.85 and a 200 day simple moving average of $45.38. Matador Resources has a one year low of $35.19 and a one year high of $61.48. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.79 and a quick ratio of 0.75. The firm has a market capitalization of $7.58 billion, a price-to-earnings ratio of 10.00 and a beta of 1.07.

Matador Resources (NYSE:MTDR) last announced its quarterly earnings results 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 analyst estimates of $811.13 million. Matador Resources had a return on equity of 12.36% and a net margin of 20.54%.The company’s quarterly revenue was down 15.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.83 earnings per share. On average, research analysts anticipate that Matador Resources will post 8.53 earnings per share for the current fiscal year.

Matador Resources Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 10th. Investors of record on Friday, February 27th were issued a dividend of $0.375 per share. The ex-dividend date was Friday, February 27th. This represents a $1.50 annualized dividend and a yield of 2.5%. Matador Resources’s dividend payout ratio is 24.59%.

Hedge Funds Weigh In On Matador Resources

Several large investors have recently bought and sold shares of the stock. Adage Capital Partners GP L.L.C. grew its stake in shares of Matador Resources by 143.1% in the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 2,556,472 shares of the energy company’s stock worth $121,995,000 after acquiring an additional 1,505,000 shares in the last quarter. CIBC Bancorp USA Inc. purchased a new stake in shares of Matador Resources in the third quarter valued at about $61,615,000. Wellington Management Group LLP lifted its position in shares of Matador Resources by 65.0% during the fourth quarter. Wellington Management Group LLP now owns 3,406,182 shares of the energy company’s stock valued at $144,558,000 after purchasing an additional 1,342,145 shares in the last quarter. Encompass Capital Advisors LLC purchased a new position in Matador Resources during the fourth quarter worth about $53,249,000. Finally, Balyasny Asset Management L.P. boosted its holdings in Matador Resources by 2,495.0% during the fourth quarter. Balyasny Asset Management L.P. now owns 552,856 shares of the energy company’s stock worth $23,463,000 after purchasing an additional 531,551 shares during the last quarter. 91.98% of the stock is currently 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.