Matador Resources (NYSE:MTDR) Trading 5.4% Higher – Time to Buy?

Matador Resources Company (NYSE:MTDR)’s stock price traded up 5.4% on Thursday . The stock traded as high as $64.33 and last traded at $64.3510. 954,029 shares changed hands during trading, a decline of 51% from the average session volume of 1,928,969 shares. The stock had previously closed at $61.05.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Morgan Stanley cut their price objective on Matador Resources from $56.00 to $52.00 and set an “equal weight” rating for the company in a report on Friday, January 23rd. BMO Capital Markets upped their price target on shares of Matador Resources from $60.00 to $65.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 11th. Truist Financial initiated coverage on shares of Matador Resources in a research note on Tuesday. They issued a “hold” rating and a $60.00 price target for the company. Mizuho lifted their price objective on shares of Matador Resources from $67.00 to $70.00 and gave the company an “outperform” rating in a research report on Friday, December 12th. Finally, Royal Bank Of Canada lowered their price objective on shares of Matador Resources from $62.00 to $60.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 13th. Eleven research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, Matador Resources presently has a consensus rating of “Moderate Buy” and a consensus price target of $60.29.

Matador Resources Price Performance

The company has a market capitalization of $8.13 billion, a P/E ratio of 10.73 and a beta of 1.07. The company’s 50-day moving average price is $51.08 and its two-hundred day moving average price is $45.74. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.79 and a quick ratio of 0.75.

Matador Resources (NYSE:MTDR) last posted its earnings results 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. 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 during the quarter, compared to analysts’ expectations of $811.13 million. During the same quarter last year, the company posted $1.83 EPS. Matador Resources’s quarterly revenue was down 15.7% compared to the same quarter last year. As a group, sell-side analysts expect that Matador Resources Company will post 8.53 EPS for the current year.

Matador Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 10th. Shareholders of record on Friday, February 27th were given a dividend of $0.375 per share. The ex-dividend date was Friday, February 27th. This represents a $1.50 annualized dividend and a yield of 2.3%. Matador Resources’s dividend payout ratio (DPR) is presently 24.59%.

Institutional Investors Weigh In On Matador Resources

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Adage Capital Partners GP L.L.C. increased its holdings in Matador Resources by 143.1% in the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 2,556,472 shares of the energy company’s stock valued at $121,995,000 after buying an additional 1,505,000 shares during the period. CIBC Bancorp USA Inc. bought a new stake in shares of Matador Resources during the 3rd quarter worth approximately $61,615,000. Wellington Management Group LLP boosted its position in shares of Matador Resources by 65.0% during the 4th quarter. Wellington Management Group LLP now owns 3,406,182 shares of the energy company’s stock worth $144,558,000 after acquiring an additional 1,342,145 shares in the last quarter. Encompass Capital Advisors LLC acquired a new stake in shares of Matador Resources during the 4th quarter worth approximately $53,249,000. Finally, Balyasny Asset Management L.P. increased its stake in Matador Resources by 2,495.0% in the fourth quarter. Balyasny Asset Management L.P. now owns 552,856 shares of the energy company’s stock valued at $23,463,000 after acquiring an additional 531,551 shares during the last quarter. 91.98% of the stock is currently 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.