Matador Resources (NYSE:MTDR) Reaches New 12-Month High – Still a Buy?

Matador Resources Company (NYSE:MTDR)’s stock price hit a new 52-week high on Monday . The stock traded as high as $57.53 and last traded at $57.11, with a volume of 365184 shares trading hands. The stock had previously closed at $56.32.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on MTDR shares. Royal Bank Of Canada reduced their target price on shares of Matador Resources from $62.00 to $60.00 and set an “outperform” rating for the company in a research note on Tuesday, January 13th. Citigroup raised their price target on shares of Matador Resources from $53.00 to $62.00 and gave the company a “buy” rating in a research report on Thursday, March 5th. UBS Group boosted their price target 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. TD Cowen raised shares of Matador Resources to a “strong-buy” rating in a research report on Monday, February 9th. Finally, Weiss Ratings reiterated 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 given a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $58.82.

Matador Resources Trading Down 3.0%

The stock has a market capitalization of $6.77 billion, a PE ratio of 8.93 and a beta of 1.07. 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 50-day moving average price of $46.72 and a 200-day moving average price of $44.82.

Matador Resources (NYSE:MTDR) last issued its quarterly earnings results on Tuesday, February 24th. The energy company reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.16. Matador Resources had a net margin of 20.54% and a return on equity of 12.36%. The company had revenue of $847.99 million for the quarter, compared to the consensus estimate of $811.13 million. During the same period in the previous year, the firm earned $1.83 EPS. The firm’s quarterly revenue was down 15.7% on a year-over-year basis. As a group, equities analysts forecast that Matador Resources Company will post 8.53 EPS for the current fiscal year.

Matador Resources Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 10th. Shareholders of record on Friday, February 27th were paid a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date was Friday, February 27th. Matador Resources’s payout ratio is presently 24.59%.

Institutional Investors Weigh In On Matador Resources

Several large investors have recently modified their holdings of the stock. MAI Capital Management lifted its stake in Matador Resources by 13.9% in the second quarter. MAI Capital Management now owns 1,726 shares of the energy company’s stock valued at $82,000 after purchasing an additional 210 shares during the last quarter. Beacon Pointe Advisors LLC increased its position in Matador Resources by 4.3% in the second quarter. Beacon Pointe Advisors LLC now owns 5,281 shares of the energy company’s stock worth $252,000 after buying an additional 216 shares during the last quarter. ProShare Advisors LLC increased its position in Matador Resources by 4.5% in the second quarter. ProShare Advisors LLC now owns 5,163 shares of the energy company’s stock worth $246,000 after buying an additional 220 shares during the last quarter. Fiduciary Trust Co raised its stake in shares of Matador Resources by 2.2% in the third quarter. Fiduciary Trust Co now owns 11,821 shares of the energy company’s stock valued at $531,000 after buying an additional 253 shares during the period. Finally, O Shaughnessy Asset Management LLC raised its stake in shares of Matador Resources by 2.9% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 9,138 shares of the energy company’s stock valued at $388,000 after buying an additional 254 shares during the period. 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.