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

Matador Resources (NYSE:MTDR) had its price target increased by equities research analysts at Citigroup from $53.00 to $62.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has a “buy” rating on the energy company’s stock. Citigroup’s price target would suggest a potential upside of 12.95% from the company’s previous close.

A number of other brokerages have also issued reports on MTDR. Royal Bank Of Canada dropped their price objective on shares of Matador Resources from $62.00 to $60.00 and set an “outperform” rating for the company in a report on Tuesday, January 13th. Mizuho upped their price target on shares of Matador Resources from $67.00 to $70.00 and gave the company an “outperform” rating in a research report on Friday, December 12th. TD Cowen raised Matador Resources to a “strong-buy” rating in a report on Monday, February 9th. Wells Fargo & Company lowered shares of Matador Resources from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $61.00 to $47.00 in a research note on Tuesday, January 27th. Finally, UBS Group lifted their target price on shares of Matador Resources from $50.00 to $52.00 and gave the stock a “neutral” rating in a research note on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, Matador Resources presently has an average rating of “Moderate Buy” and an average price target of $58.82.

Matador Resources Price Performance

MTDR stock traded up $1.36 during trading on Thursday, reaching $54.89. 1,188,602 shares of the company were exchanged, compared to its average volume of 1,912,595. Matador Resources has a twelve month low of $35.19 and a twelve month high of $55.60. 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 company has a market capitalization of $6.82 billion, a price-to-earnings ratio of 9.00 and a beta of 1.07. The company has a 50-day moving average of $45.64 and a two-hundred day moving average of $44.59.

Matador Resources (NYSE:MTDR) last released its quarterly earnings data on Tuesday, February 24th. The energy company reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.16. Matador Resources had a return on equity of 12.36% and a net margin of 20.54%.The company had revenue of $847.99 million for the quarter, compared to the consensus estimate of $811.13 million. During the same quarter last year, the business posted $1.83 EPS. Matador Resources’s revenue for the quarter was down 15.7% on a year-over-year basis. As a group, equities analysts predict that Matador Resources will post 8.53 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of Matador Resources by 0.7% in the third quarter. Vanguard Group Inc. now owns 14,780,888 shares of the energy company’s stock valued at $664,105,000 after buying an additional 101,613 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Matador Resources by 4.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 6,670,265 shares of the energy company’s stock worth $283,089,000 after acquiring an additional 258,745 shares during the period. State Street Corp increased its holdings 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 worth $195,982,000 after acquiring an additional 86,344 shares during the last quarter. LSV Asset Management raised its stake 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 period. Finally, Wellington Management Group LLP raised its stake 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 period. 91.98% of the stock is currently owned by hedge funds and other 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.