Matador Resources (NYSE:MTDR) Given New $73.00 Price Target at KeyCorp

Matador Resources (NYSE:MTDR) had its target price boosted by equities researchers at KeyCorp from $61.00 to $73.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the energy company’s stock. KeyCorp’s target price suggests a potential upside of 20.26% from the company’s previous close.

A number of other research firms also recently commented on MTDR. Weiss Ratings restated a “hold (c-)” rating on shares of Matador Resources in a research report on Friday, January 9th. Royal Bank Of Canada decreased 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. UBS Group boosted their target price on Matador Resources from $50.00 to $52.00 and gave the stock a “neutral” rating in a report on Thursday, March 5th. Morgan Stanley cut their target price on Matador Resources from $56.00 to $52.00 and set an “equal weight” rating for the company in a research report on Friday, January 23rd. Finally, Citigroup increased their price target on Matador Resources from $62.00 to $77.00 and gave the company a “buy” rating in a research note on Tuesday. Eleven analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Matador Resources presently has a consensus rating of “Moderate Buy” and an average price target of $62.86.

Matador Resources Trading Down 3.9%

Shares of MTDR stock opened at $60.70 on Thursday. Matador Resources has a 1 year low of $35.19 and a 1 year high of $66.84. The firm has a market capitalization of $7.54 billion, a PE ratio of 9.95 and a beta of 0.91. The stock has a fifty day moving average of $52.27 and a two-hundred day moving average of $46.04. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.75 and a current ratio of 0.79.

Matador Resources (NYSE:MTDR) last issued its quarterly earnings results on Tuesday, February 24th. The energy company reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.71 by $0.16. The company 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% compared to the same quarter last year. During the same period last year, the company earned $1.83 earnings per share. As a group, research analysts expect that Matador Resources will post 8.53 EPS for the current year.

Institutional Trading of Matador Resources

Several institutional investors and hedge funds have recently added to or reduced their stakes in MTDR. Vanguard Group Inc. grew its position in Matador Resources by 0.7% in the third quarter. Vanguard Group Inc. now owns 14,780,888 shares of the energy company’s stock worth $664,105,000 after buying an additional 101,613 shares during the last quarter. Dimensional Fund Advisors LP lifted its position 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 valued at $283,089,000 after acquiring an additional 258,745 shares during the last quarter. State Street Corp boosted its stake in shares of Matador Resources by 1.9% during 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 in the last quarter. LSV Asset Management boosted its stake in shares of Matador Resources by 8.8% during the 4th quarter. LSV Asset Management now owns 3,842,011 shares of the energy company’s stock worth $163,055,000 after acquiring an additional 309,708 shares in the last quarter. Finally, Wellington Management Group LLP grew its holdings in shares of 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 worth $144,558,000 after acquiring an additional 1,342,145 shares during the last quarter. 91.98% of the stock is owned by institutional investors and hedge funds.

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.