Matador Resources (NYSE:MTDR) Sets New 52-Week High – Here’s What Happened

Matador Resources Company (NYSE:MTDR)’s share price hit a new 52-week high during trading on Monday . The company traded as high as $54.25 and last traded at $53.8560, with a volume of 435177 shares traded. The stock had previously closed at $51.40.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on MTDR shares. TD Cowen upgraded shares of Matador Resources to a “strong-buy” rating in a research note on Monday, February 9th. KeyCorp restated an “overweight” rating on shares of Matador Resources in a report on Friday, December 19th. Morgan Stanley lowered their target price on shares of Matador Resources from $56.00 to $52.00 and set an “equal weight” rating for the company in a research note on Friday, January 23rd. BMO Capital Markets reissued an “outperform” rating on shares of Matador Resources in a report on Thursday, December 18th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Matador Resources in a research note on Friday, January 9th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, Matador Resources has a consensus rating of “Moderate Buy” and a consensus target price of $57.82.

Matador Resources Trading Down 1.0%

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 stock has a market capitalization of $6.65 billion, a PE ratio of 8.78 and a beta of 1.07. The business’s 50-day moving average is $45.40 and its two-hundred day moving average is $44.52.

Matador Resources (NYSE:MTDR) last posted its quarterly earnings data on Tuesday, February 24th. The energy company reported $0.87 earnings per share (EPS) for the quarter, topping 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 business had revenue of $847.99 million for the quarter, compared to analysts’ expectations of $811.13 million. During the same quarter last year, the firm earned $1.83 earnings per share. The business’s revenue was down 15.7% on a year-over-year basis. On average, analysts anticipate that Matador Resources Company will post 8.53 earnings per share for the current fiscal year.

Matador Resources Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Friday, February 27th will be issued a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a dividend yield of 2.8%. The ex-dividend date is Friday, February 27th. Matador Resources’s dividend payout ratio (DPR) is presently 24.59%.

Hedge Funds Weigh In On Matador Resources

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

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.