Matador Resources (NYSE:MTDR) Shares Gap Up Following Analyst Upgrade

Matador Resources Company (NYSE:MTDR)’s stock price gapped up prior to trading on Thursday after KeyCorp raised their price target on the stock from $61.00 to $73.00. The stock had previously closed at $60.66, but opened at $63.82. KeyCorp currently has an overweight rating on the stock. Matador Resources shares last traded at $63.90, with a volume of 140,095 shares changing hands.

Other equities research analysts have also issued research reports about the stock. Citigroup lifted their target price on shares of Matador Resources from $62.00 to $77.00 and gave the company a “buy” rating in a research note on Tuesday. Truist Financial began coverage on shares of Matador Resources in a research note on Tuesday, March 24th. They issued a “hold” rating and a $60.00 price target for the company. BMO Capital Markets raised their price objective on shares of Matador Resources from $60.00 to $65.00 and gave the stock an “outperform” rating in a report on Wednesday, March 11th. UBS Group lifted their price objective on Matador Resources from $50.00 to $52.00 and gave the company a “neutral” rating in a research report on Thursday, March 5th. Finally, Royal Bank Of Canada decreased their target price on Matador Resources from $62.00 to $60.00 and set an “outperform” rating for the company in a research report on Tuesday, January 13th. Eleven investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $62.86.

Institutional Investors Weigh In On Matador Resources

Hedge funds have recently bought and sold shares of the business. Kestra Investment Management LLC increased its stake in shares of 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 purchasing an additional 358 shares in the last quarter. Rothschild Investment LLC boosted its position in shares of Matador Resources by 5,927.3% in the 3rd quarter. Rothschild Investment LLC now owns 663 shares of the energy company’s stock worth $30,000 after purchasing an additional 652 shares in the last quarter. Measured Wealth Private Client Group LLC bought a new stake in shares of Matador Resources in the 3rd quarter worth approximately $35,000. Geneos Wealth Management Inc. grew its stake in shares of Matador Resources by 361.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 881 shares of the energy company’s stock worth $45,000 after buying an additional 690 shares during the last quarter. Finally, Gilpin Wealth Management LLC bought a new position in Matador Resources during the 4th quarter valued at approximately $42,000. Institutional investors own 91.98% of the company’s stock.

Matador Resources Trading Up 4.2%

The stock has a 50-day moving average of $52.27 and a two-hundred day moving average of $46.04. The company has a market cap of $7.85 billion, a P/E ratio of 10.49 and a beta of 0.91. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.75 and a current ratio of 0.79.

Matador Resources (NYSE:MTDR) last released its earnings results on Tuesday, February 24th. The energy company reported $0.87 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 the consensus estimate of $811.13 million. During the same period in the previous year, the company posted $1.83 earnings per share. The company’s revenue for the quarter was down 15.7% compared to the same quarter last year. On average, equities research analysts predict that Matador Resources Company will post 8.53 earnings per share for the current year.

Matador Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 10th. Investors of record on Friday, February 27th were given a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend was Friday, February 27th. Matador Resources’s dividend payout ratio is 24.59%.

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.