Matador Resources (NYSE:MTDR) Sets New 1-Year High – Here’s What Happened

Matador Resources Company (NYSE:MTDR)’s stock price reached a new 52-week high during trading on Monday . The company traded as high as $59.54 and last traded at $59.2160, with a volume of 903407 shares. The stock had previously closed at $58.50.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. KeyCorp reissued an “overweight” rating on shares of Matador Resources in a report on Friday, December 19th. Morgan Stanley lowered their target price 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. TD Cowen increased their price target on Matador Resources from $60.00 to $65.00 and gave the stock a “buy” rating in a research note on Tuesday, March 17th. Citigroup lifted their price objective on Matador Resources from $53.00 to $62.00 and gave the stock a “buy” rating in a report on Thursday, March 5th. Finally, Royal Bank Of Canada lowered their price target on shares of Matador Resources from $62.00 to $60.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 13th. Eleven research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, Matador Resources presently has a consensus rating of “Moderate Buy” and a consensus price target of $60.31.

Matador Resources Stock Up 0.6%

The company has a current ratio of 0.79, a quick ratio of 0.75 and a debt-to-equity ratio of 0.57. The firm has a market cap of $7.32 billion, a P/E ratio of 9.65 and a beta of 1.07. The stock’s fifty day moving average is $49.15 and its two-hundred day moving average is $45.23.

Matador Resources (NYSE:MTDR) last announced its quarterly earnings results on Tuesday, February 24th. The energy company reported $0.87 EPS for the quarter, beating the consensus estimate of $0.71 by $0.16. The firm had revenue of $847.99 million during the quarter, compared to the consensus estimate of $811.13 million. Matador Resources had a net margin of 20.54% and a return on equity of 12.36%. The business’s quarterly revenue was down 15.7% compared to the same quarter last year. During the same period last year, the firm earned $1.83 EPS. As a group, research analysts anticipate that Matador Resources Company will post 8.53 earnings per share for the current 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 given a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a yield of 2.5%. The ex-dividend date was Friday, February 27th. Matador Resources’s payout ratio is presently 24.59%.

Institutional Trading of Matador Resources

Several institutional investors and hedge funds have recently modified their holdings of MTDR. Vaughan Nelson Investment Management L.P. boosted its stake in shares of Matador Resources by 64.3% during the third quarter. Vaughan Nelson Investment Management L.P. now owns 1,100,805 shares of the energy company’s stock valued at $49,459,000 after purchasing an additional 431,010 shares during the period. Thrivent Financial for Lutherans boosted its position in Matador Resources by 3.8% during the 3rd quarter. Thrivent Financial for Lutherans now owns 1,032,602 shares of the energy company’s stock valued at $46,395,000 after buying an additional 37,889 shares during the period. Thomist Capital Management LP purchased a new stake in Matador Resources during the 2nd quarter valued at $4,289,000. Mitsubishi UFJ Trust & Banking Corp grew its holdings in Matador Resources by 309.6% in the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 32,010 shares of the energy company’s stock worth $1,438,000 after acquiring an additional 24,195 shares during the last quarter. Finally, Hussman Strategic Advisors Inc. bought a new stake in Matador Resources in the 3rd quarter worth $1,887,000. Hedge funds and other institutional investors own 91.98% of the company’s stock.

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.