Matador Resources (NYSE:MTDR) Hits New 1-Year High on Analyst Upgrade

Matador Resources Company (NYSE:MTDR)’s stock price hit a new 52-week high during trading on Tuesday after TD Cowen raised their price target on the stock from $60.00 to $65.00. TD Cowen currently has a buy rating on the stock. Matador Resources traded as high as $58.32 and last traded at $57.8070, with a volume of 414958 shares changing hands. The stock had previously closed at $56.36.

Other research analysts have also recently issued research reports about the company. Wells Fargo & Company upped their target price on Matador Resources from $47.00 to $54.00 and gave the company an “equal weight” rating in a research note on Monday. Morgan Stanley dropped their price objective on Matador Resources from $56.00 to $52.00 and set an “equal weight” rating for the company in a report on Friday, January 23rd. Weiss Ratings reiterated a “hold (c-)” rating on shares of Matador Resources in a research report on Friday, January 9th. KeyCorp restated an “overweight” rating on shares of Matador Resources in a report on Friday, December 19th. Finally, BMO Capital Markets raised their price target on shares of Matador Resources from $60.00 to $65.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 11th. Eleven equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $60.31.

Institutional Trading of Matador Resources

A number of hedge funds have recently added to or reduced their stakes in the business. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in Matador Resources by 298.5% during the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 534 shares of the energy company’s stock valued at $25,000 after purchasing an additional 400 shares during the period. Kestra Investment Management LLC increased its holdings in Matador Resources by 225.2% during the second quarter. Kestra Investment Management LLC now owns 517 shares of the energy company’s stock valued at $25,000 after buying an additional 358 shares during the period. Allworth Financial LP increased its holdings in Matador Resources by 182.0% during the second quarter. Allworth Financial LP now owns 564 shares of the energy company’s stock valued at $27,000 after buying an additional 364 shares during the period. Rothschild Investment LLC raised its stake in Matador Resources by 5,927.3% in the third quarter. Rothschild Investment LLC now owns 663 shares of the energy company’s stock worth $30,000 after buying an additional 652 shares in the last quarter. Finally, Measured Wealth Private Client Group LLC purchased a new stake in Matador Resources during the third quarter worth $35,000. 91.98% of the stock is owned by hedge funds and other institutional investors.

Matador Resources Stock Performance

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 cap of $7.18 billion, a PE ratio of 9.47 and a beta of 1.07. The business has a fifty day simple moving average of $47.84 and a two-hundred day simple moving average of $45.02.

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, beating analysts’ consensus estimates of $0.71 by $0.16. The business had revenue of $847.99 million for the quarter, compared to the consensus estimate of $811.13 million. Matador Resources had a return on equity of 12.36% and a net margin of 20.54%.The business’s revenue was down 15.7% compared to the same quarter last year. During the same period last year, the business posted $1.83 EPS. Research analysts anticipate that Matador Resources Company will post 8.53 earnings per share for the current year.

Matador Resources Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 10th. Stockholders of record on Friday, February 27th were issued a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date was Friday, February 27th. Matador Resources’s dividend payout ratio (DPR) is currently 24.59%.

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.