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

Matador Resources Company (NYSE:MTDR)’s share 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.

MTDR has been the subject of several other research reports. Truist Financial started coverage on shares of Matador Resources in a research report on Tuesday, March 24th. They set a “hold” rating and a $60.00 price target for the company. UBS Group upped 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. Wells Fargo & Company increased 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, March 16th. Mizuho boosted their price target on Matador Resources from $67.00 to $70.00 and gave the stock an “outperform” rating in a research note on Friday, December 12th. Finally, TD Cowen upped 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. Eleven equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, Matador Resources currently has a consensus rating of “Moderate Buy” and an average price target of $62.86.

Hedge Funds Weigh In On Matador Resources

Hedge funds and other institutional investors have recently modified their holdings of the company. Kestra Investment Management LLC boosted its stake in shares of Matador Resources by 225.2% in the 2nd quarter. Kestra Investment Management LLC now owns 517 shares of the energy company’s stock worth $25,000 after buying an additional 358 shares during the last quarter. Rothschild Investment LLC lifted its holdings in Matador Resources by 5,927.3% in the third quarter. Rothschild Investment LLC now owns 663 shares of the energy company’s stock valued at $30,000 after acquiring an additional 652 shares during the period. Measured Wealth Private Client Group LLC bought a new position in Matador Resources in the third quarter valued at about $35,000. Gilpin Wealth Management LLC purchased a new position in Matador Resources in the fourth quarter worth about $42,000. Finally, Geneos Wealth Management Inc. boosted its position in Matador Resources by 361.3% in the first quarter. Geneos Wealth Management Inc. now owns 881 shares of the energy company’s stock worth $45,000 after purchasing an additional 690 shares during the last quarter. 91.98% of the stock is owned by institutional investors.

Matador Resources Trading Up 4.2%

The firm has a market capitalization of $7.85 billion, a P/E ratio of 10.49 and a beta of 0.91. 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 stock has a 50 day simple moving average of $52.27 and a 200-day simple moving average of $46.04.

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

Matador Resources Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 10th. Stockholders of record on Friday, February 27th were paid a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a dividend yield of 2.4%. 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.