Matador Resources (NYSE:MTDR) Shares Gap Up on Analyst Upgrade

Matador Resources Company (NYSE:MTDR) shares gapped up prior to trading on Thursday after KeyCorp raised their price target on the stock from $61.00 to $73.00. The stock had previously closed at $60.66, but opened at $63.82. KeyCorp currently has an overweight rating on the stock. Matador Resources shares last traded at $63.90, with a volume of 140,095 shares trading hands.

Other research analysts have also issued reports about the company. Citigroup increased their target price on Matador Resources from $62.00 to $77.00 and gave the stock a “buy” rating in a research report on Tuesday. BMO Capital Markets raised their price objective on Matador Resources from $60.00 to $65.00 and gave the stock an “outperform” rating in a report on Wednesday, March 11th. Wells Fargo & Company lifted their price objective on Matador Resources from $47.00 to $54.00 and gave the company an “equal weight” rating in a research note on Monday, March 16th. Mizuho boosted their target price on Matador Resources from $67.00 to $70.00 and gave the stock an “outperform” rating in a report on Friday, December 12th. Finally, Truist Financial initiated coverage on shares of Matador Resources in a research report on Tuesday, March 24th. They set a “hold” rating and a $60.00 target price for the company. Eleven research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, Matador Resources currently has an average rating of “Moderate Buy” and an average price target of $62.86.

Institutional Investors Weigh In On Matador Resources

Several institutional investors and hedge funds have recently modified their holdings of the stock. Kestra Investment Management LLC raised its holdings in shares of Matador Resources by 225.2% during the 2nd quarter. Kestra Investment Management LLC now owns 517 shares of the energy company’s stock valued at $25,000 after buying an additional 358 shares during the period. Rothschild Investment LLC boosted its holdings in 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 period. Measured Wealth Private Client Group LLC purchased a new position in Matador Resources in the 3rd quarter worth approximately $35,000. Geneos Wealth Management Inc. grew its position in Matador Resources by 361.3% in the first quarter. Geneos Wealth Management Inc. now owns 881 shares of the energy company’s stock valued at $45,000 after acquiring an additional 690 shares in the last quarter. Finally, Gilpin Wealth Management LLC acquired a new stake in Matador Resources in the fourth quarter valued at approximately $42,000. Hedge funds and other institutional investors own 91.98% of the company’s stock.

Matador Resources Price Performance

The company has a market cap of $7.81 billion, a PE ratio of 10.30 and a beta of 0.91. The business’s 50 day moving average price is $52.66 and its 200-day moving average price is $46.15. 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 posted its earnings results on Tuesday, February 24th. The energy company reported $0.87 EPS for the quarter, topping analysts’ consensus estimates 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 net margin of 20.54% and a return on equity of 12.36%. The business’s revenue for the quarter was down 15.7% compared to the same quarter last year. During the same period in the previous year, the company posted $1.83 earnings per share. As a group, analysts forecast that Matador Resources Company will post 8.53 earnings per share for the current year.

Matador Resources Announces Dividend

The company 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. This represents a $1.50 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend was Friday, February 27th. Matador Resources’s dividend payout ratio is presently 24.59%.

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.