Matador Resources Company (NYSE:MTDR) Receives $62.62 Consensus Target Price from Brokerages

Matador Resources Company (NYSE:MTDR) has been given a consensus recommendation of “Moderate Buy” by the sixteen brokerages that are presently covering the company, MarketBeat reports. Five investment analysts have rated the stock with a hold recommendation, ten have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $63.4615.

Several brokerages have commented on MTDR. TD Cowen upped their price objective on shares of Matador Resources from $60.00 to $65.00 and gave the stock a “buy” rating in a report on Tuesday, March 17th. Weiss Ratings raised shares of Matador Resources from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, April 27th. Morgan Stanley reduced their target price on shares of Matador Resources from $56.00 to $52.00 and set an “equal weight” rating on the stock in a research report on Friday, January 23rd. KeyCorp upped their target price on shares of Matador Resources from $61.00 to $73.00 and gave the stock an “overweight” rating in a research report on Thursday, April 2nd. Finally, Zacks Research raised shares of Matador Resources from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, April 8th.

Matador Resources Stock Up 0.6%

Shares of NYSE MTDR opened at $56.65 on Wednesday. The company has a current ratio of 0.73, a quick ratio of 0.70 and a debt-to-equity ratio of 0.59. Matador Resources has a 12 month low of $37.14 and a 12 month high of $66.84. The firm has a market capitalization of $7.04 billion, a PE ratio of 14.56, a price-to-earnings-growth ratio of 1.77 and a beta of 0.81. The firm has a fifty day simple moving average of $59.05 and a two-hundred day simple moving average of $48.85.

Matador Resources (NYSE:MTDR) last issued its quarterly earnings data on Wednesday, May 6th. The energy company reported $1.53 EPS for the quarter, topping the consensus estimate of $1.24 by $0.29. Matador Resources had a net margin of 14.41% and a return on equity of 11.20%. The business had revenue of $941.60 million during the quarter, compared to analyst estimates of $871.57 million. During the same period in the prior year, the business earned $1.99 EPS. The company’s revenue for the quarter was down 33.8% on a year-over-year basis. Equities analysts expect that Matador Resources will post 7.25 earnings per share for the current year.

Matador Resources Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 5th. Stockholders of record on Friday, May 8th will be given a $0.375 dividend. The ex-dividend date of this dividend is Friday, May 8th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 2.6%. Matador Resources’s dividend payout ratio is currently 38.56%.

Institutional Trading of Matador Resources

A number of hedge funds and other institutional investors have recently modified their holdings of MTDR. Jones Financial Companies Lllp grew its position in shares of Matador Resources by 1,104.8% in the 1st quarter. Jones Financial Companies Lllp now owns 2,012 shares of the energy company’s stock worth $103,000 after buying an additional 1,845 shares during the period. Geneos Wealth Management Inc. grew its position 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 period. Sivia Capital Partners LLC purchased a new stake in shares of Matador Resources in the 2nd quarter worth about $255,000. Arrowstreet Capital Limited Partnership bought a new position in Matador Resources in the 2nd quarter worth about $5,126,000. Finally, EverSource Wealth Advisors LLC boosted its stake in Matador Resources by 767.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,261 shares of the energy company’s stock worth $156,000 after purchasing an additional 2,885 shares in the last quarter. 91.98% of the stock is owned by hedge funds and other institutional investors.

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.