Matador Resources (NYSE:MTDR) Sets New 1-Year High – Here’s Why

Matador Resources Company (NYSE:MTDR) shares reached a new 52-week high during trading on Monday . The stock traded as high as $59.54 and last traded at $59.2160, with a volume of 903407 shares changing hands. The stock had previously closed at $58.50.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on MTDR. Royal Bank Of Canada cut their target price on Matador Resources from $62.00 to $60.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 13th. Weiss Ratings reissued a “hold (c-)” rating on shares of Matador Resources in a research note on Friday, January 9th. TD Cowen raised their price target on Matador Resources from $60.00 to $65.00 and gave the company a “buy” rating in a report on Tuesday, March 17th. Wells Fargo & Company upped their price objective on shares of Matador Resources from $47.00 to $54.00 and gave the stock an “equal weight” rating in a report on Monday, March 16th. Finally, BMO Capital Markets increased their target price on shares of Matador Resources from $60.00 to $65.00 and gave the company an “outperform” rating in a research report on Wednesday, March 11th. Eleven analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $60.29.

Matador Resources Stock Performance

The stock has a market cap of $7.58 billion, a P/E ratio of 10.00 and a beta of 1.07. 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 fifty day moving average of $49.85 and a 200 day moving average of $45.38.

Matador Resources (NYSE:MTDR) last issued 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. Matador Resources had a return on equity of 12.36% and a net margin of 20.54%.The firm had revenue of $847.99 million during the quarter, compared to analyst estimates of $811.13 million. During the same period last year, the company posted $1.83 EPS. The firm’s quarterly revenue was down 15.7% on a year-over-year basis. On average, equities analysts predict that Matador Resources Company will post 8.53 earnings per share for the current fiscal year.

Matador Resources Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 10th. Investors of record on Friday, February 27th were paid a dividend of $0.375 per share. The ex-dividend date of this dividend was Friday, February 27th. This represents a $1.50 annualized dividend and a yield of 2.5%. Matador Resources’s dividend payout ratio (DPR) is currently 24.59%.

Institutional Investors Weigh In On Matador Resources

A number of institutional investors and hedge funds have recently bought and sold shares of MTDR. MAI Capital Management raised its stake in Matador Resources by 13.9% during the second quarter. MAI Capital Management now owns 1,726 shares of the energy company’s stock worth $82,000 after acquiring an additional 210 shares in the last quarter. Beacon Pointe Advisors LLC boosted its stake in shares of Matador Resources by 4.3% in the 2nd quarter. Beacon Pointe Advisors LLC now owns 5,281 shares of the energy company’s stock valued at $252,000 after purchasing an additional 216 shares in the last quarter. Fiduciary Trust Co grew its holdings in shares of Matador Resources by 2.2% in the 3rd quarter. Fiduciary Trust Co now owns 11,821 shares of the energy company’s stock worth $531,000 after purchasing an additional 253 shares during the last quarter. O Shaughnessy Asset Management LLC grew its holdings in shares of Matador Resources by 2.9% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 9,138 shares of the energy company’s stock worth $388,000 after purchasing an additional 254 shares during the last quarter. Finally, Verdence Capital Advisors LLC increased its position in shares of Matador Resources by 3.5% during the 4th quarter. Verdence Capital Advisors LLC now owns 8,233 shares of the energy company’s stock worth $349,000 after purchasing an additional 278 shares in 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.