Matador Resources (NYSE:MTDR) Stock Price Expected to Rise, Citigroup Analyst Says

Matador Resources (NYSE:MTDR) had its price objective raised by analysts at Citigroup from $62.00 to $77.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the energy company’s stock. Citigroup’s price objective would indicate a potential upside of 26.85% from the stock’s current price.

Several other research analysts have also recently issued reports on the stock. UBS Group increased their price objective on shares of Matador Resources from $50.00 to $52.00 and gave the company a “neutral” rating in a report on Thursday, March 5th. TD Cowen upped their target price on Matador Resources from $60.00 to $65.00 and gave the stock a “buy” rating in a research report on Tuesday, March 17th. Morgan Stanley decreased their price target on Matador Resources from $56.00 to $52.00 and set an “equal weight” rating for the company in a research note on Friday, January 23rd. BMO Capital Markets lifted their price target on Matador Resources from $60.00 to $65.00 and gave the company an “outperform” rating in a research report on Wednesday, March 11th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Matador Resources in a research note on Friday, January 9th. Eleven research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $61.36.

Matador Resources Stock Performance

MTDR stock opened at $60.70 on Tuesday. The company has a 50-day simple moving average of $52.27 and a 200 day simple moving average of $46.04. The company has a market capitalization of $7.54 billion, a P/E ratio of 9.95 and a beta of 0.91. The company has a quick ratio of 0.75, a current ratio of 0.79 and a debt-to-equity ratio of 0.57. Matador Resources has a fifty-two week low of $35.19 and a fifty-two week high of $66.84.

Matador Resources (NYSE:MTDR) last released its earnings results on Tuesday, February 24th. The energy company reported $0.87 EPS for the quarter, beating the consensus estimate of $0.71 by $0.16. Matador Resources had a net margin of 20.54% and a return on equity of 12.36%. The firm had revenue of $847.99 million for the quarter, compared to analysts’ expectations of $811.13 million. During the same quarter last year, the company earned $1.83 EPS. Matador Resources’s quarterly revenue was down 15.7% on a year-over-year basis. Sell-side analysts predict that Matador Resources will post 8.53 earnings per share for the current fiscal year.

Institutional Trading of Matador Resources

Large investors have recently added to or reduced their stakes in the business. Beacon Pointe Advisors LLC increased its holdings in shares of Matador Resources by 4.3% in the second quarter. Beacon Pointe Advisors LLC now owns 5,281 shares of the energy company’s stock valued at $252,000 after buying an additional 216 shares in the last quarter. Fiduciary Trust Co boosted its stake in shares of Matador Resources by 2.2% during the 3rd quarter. Fiduciary Trust Co now owns 11,821 shares of the energy company’s stock worth $531,000 after acquiring an additional 253 shares in the last quarter. O Shaughnessy Asset Management LLC boosted its stake in shares of Matador Resources by 2.9% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 9,138 shares of the energy company’s stock worth $388,000 after acquiring an additional 254 shares in the last quarter. Verdence Capital Advisors LLC grew its holdings in shares of Matador Resources by 3.5% in the 4th quarter. Verdence Capital Advisors LLC now owns 8,233 shares of the energy company’s stock worth $349,000 after acquiring an additional 278 shares during the last quarter. Finally, Sivia Capital Partners LLC grew its holdings in shares of Matador Resources by 5.4% in the 3rd quarter. Sivia Capital Partners LLC now owns 5,625 shares of the energy company’s stock worth $253,000 after acquiring an additional 290 shares during the last quarter. 91.98% of the stock is currently owned by institutional investors.

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.