Matador Resources (NYSE:MTDR) Given New $72.00 Price Target at BMO Capital Markets

Matador Resources (NYSE:MTDR) had its price target lifted by BMO Capital Markets from $65.00 to $72.00 in a research note published on Monday,Benzinga reports. BMO Capital Markets currently has an outperform rating on the energy company’s stock.

A number of other brokerages have also recently issued reports on MTDR. TD Cowen raised their price objective on Matador Resources from $60.00 to $65.00 and gave the company a “buy” rating in a research note on Tuesday, March 17th. Morgan Stanley reduced their price objective on Matador Resources from $56.00 to $52.00 and set an “equal weight” rating on the stock in a research note on Friday, January 23rd. KeyCorp raised their price objective on Matador Resources from $61.00 to $73.00 and gave the company an “overweight” rating in a research note on Thursday, April 2nd. UBS Group raised their price objective on Matador Resources from $50.00 to $52.00 and gave the company a “neutral” rating in a research note on Thursday, March 5th. Finally, Truist Financial assumed coverage on Matador Resources in a research note on Tuesday, March 24th. They set a “hold” rating and a $60.00 price objective on the stock. Eleven research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, Matador Resources currently has a consensus rating of “Moderate Buy” and a consensus target price of $63.36.

Matador Resources Trading Up 1.1%

NYSE MTDR opened at $63.58 on Monday. The stock’s 50-day simple moving average is $53.48 and its two-hundred day simple moving average is $46.36. Matador Resources has a twelve month low of $35.19 and a twelve month high of $66.84. The company has a quick ratio of 0.75, a current ratio of 0.79 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $7.90 billion, a price-to-earnings ratio of 10.42 and a beta of 0.91.

Matador Resources (NYSE:MTDR) last announced its quarterly earnings data on Tuesday, February 24th. The energy company reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.16. Matador Resources had a return on equity of 12.36% and a net margin of 20.54%.The firm had revenue of $847.99 million for the quarter, compared to analysts’ expectations of $811.13 million. During the same period last year, the firm earned $1.83 earnings per share. The company’s revenue for the quarter was down 15.7% compared to the same quarter last year. Research analysts forecast that Matador Resources will post 8.53 EPS for the current fiscal year.

Matador Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 10th. Investors of record on Friday, February 27th were paid a $0.375 dividend. The ex-dividend date of this dividend was Friday, February 27th. This represents a $1.50 annualized dividend and a dividend yield of 2.4%. Matador Resources’s dividend payout ratio (DPR) is presently 24.59%.

Institutional Trading of Matador Resources

Large investors have recently modified their holdings of the business. Kestra Investment Management LLC grew its stake in shares of Matador Resources by 225.2% in the second quarter. Kestra Investment Management LLC now owns 517 shares of the energy company’s stock worth $25,000 after purchasing an additional 358 shares during the last quarter. Rothschild Investment LLC grew its stake 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 worth $30,000 after purchasing an additional 652 shares during the last quarter. Measured Wealth Private Client Group LLC bought a new stake in shares of Matador Resources in the third quarter worth about $35,000. Geneos Wealth Management Inc. grew its stake in shares of Matador Resources by 361.3% in the first quarter. Geneos Wealth Management Inc. now owns 881 shares of the energy company’s stock worth $45,000 after purchasing an additional 690 shares during the last quarter. Finally, Gilpin Wealth Management LLC bought a new stake in shares of Matador Resources in the fourth quarter worth about $42,000. 91.98% of the stock is owned by institutional investors.

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.