BMO Capital Markets Raises Matador Resources (NYSE:MTDR) Price Target to $65.00

Matador Resources (NYSE:MTDR) had its price objective upped by BMO Capital Markets from $60.00 to $65.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an “outperform” rating on the energy company’s stock. BMO Capital Markets’ target price indicates a potential upside of 17.97% from the company’s previous close.

Several other equities research analysts also recently weighed in on the stock. UBS Group upped their price objective on shares of Matador Resources from $50.00 to $52.00 and gave the stock a “neutral” rating in a report on Thursday, March 5th. Citigroup boosted their price target on shares of Matador Resources from $53.00 to $62.00 and gave the stock a “buy” rating in a research report on Thursday, March 5th. Wells Fargo & Company lowered shares of Matador Resources from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $61.00 to $47.00 in a research note on Tuesday, January 27th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Matador Resources in a report on Friday, January 9th. Finally, Royal Bank Of Canada lowered their price objective on shares of Matador Resources from $62.00 to $60.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 13th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $59.33.

Matador Resources Stock Performance

MTDR traded up $0.62 during trading hours on Wednesday, hitting $55.10. The company’s stock had a trading volume of 126,099 shares, compared to its average volume of 1,938,870. The company has a 50-day simple moving average of $46.72 and a 200 day simple moving average of $44.82. 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 capitalization of $6.85 billion, a PE ratio of 9.04 and a beta of 1.07. Matador Resources has a fifty-two week low of $35.19 and a fifty-two week high of $58.32.

Matador Resources (NYSE:MTDR) last announced its quarterly earnings results on Tuesday, February 24th. The energy company reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.16. The company had revenue of $847.99 million during 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 firm’s quarterly revenue was down 15.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.83 EPS. As a group, sell-side analysts expect that Matador Resources will post 8.53 EPS for the current year.

Institutional Trading of Matador Resources

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vaughan Nelson Investment Management L.P. boosted its stake in shares of Matador Resources by 64.3% during the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 1,100,805 shares of the energy company’s stock worth $49,459,000 after acquiring an additional 431,010 shares in the last quarter. Thrivent Financial for Lutherans raised its position in shares of Matador Resources by 3.8% during the third quarter. Thrivent Financial for Lutherans now owns 1,032,602 shares of the energy company’s stock worth $46,395,000 after purchasing an additional 37,889 shares during the period. Thomist Capital Management LP acquired a new stake in shares of Matador Resources during the second quarter worth $4,289,000. Hussman Strategic Advisors Inc. purchased a new stake in shares of Matador Resources during the third quarter valued at $1,887,000. Finally, Mitsubishi UFJ Trust & Banking Corp lifted its holdings in shares of Matador Resources by 309.6% during the third 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 during the last quarter. 91.98% of the stock is owned by institutional investors and hedge funds.

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.