Matador Resources (NYSE:MTDR) Price Target Raised to $78.00

Matador Resources (NYSE:MTDR) had its price target raised by Mizuho from $76.00 to $78.00 in a research note issued to investors on Wednesday morning, Benzinga reports. The firm currently has a buy rating on the energy company’s stock.

Several other brokerages have also issued reports on MTDR. JPMorgan Chase & Co. upped their price target on Matador Resources from $76.00 to $77.00 and gave the company an overweight rating in a research note on Thursday, April 11th. StockNews.com raised Matador Resources from a sell rating to a hold rating in a research note on Thursday, February 22nd. TD Cowen upped their price target on Matador Resources from $64.00 to $72.00 and gave the company an outperform rating in a research note on Monday, March 4th. Royal Bank of Canada reaffirmed an outperform rating and set a $70.00 price target on shares of Matador Resources in a research note on Tuesday, March 5th. Finally, Raymond James cut their price target on Matador Resources from $76.00 to $70.00 and set an outperform rating on the stock in a research note on Monday, January 8th. One analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average target price of $74.30.

Matador Resources Price Performance

Shares of MTDR stock opened at $65.60 on Wednesday. The stock’s fifty day moving average is $65.38 and its 200-day moving average is $60.20. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.98 and a current ratio of 0.89. The stock has a market capitalization of $7.84 billion, a PE ratio of 8.99 and a beta of 3.32. Matador Resources has a 52 week low of $42.04 and a 52 week high of $71.08.

Matador Resources (NYSE:MTDR) last announced its earnings results on Tuesday, April 23rd. The energy company reported $1.71 EPS for the quarter, topping the consensus estimate of $1.39 by $0.32. The company had revenue of $787.70 million for the quarter, compared to analysts’ expectations of $740.99 million. Matador Resources had a return on equity of 20.62% and a net margin of 28.89%. The business’s revenue for the quarter was up 40.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.50 earnings per share. Equities research analysts expect that Matador Resources will post 7.3 EPS for the current fiscal year.

Matador Resources Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Shareholders of record on Friday, May 17th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $0.80 annualized dividend and a dividend yield of 1.22%. Matador Resources’s dividend payout ratio (DPR) is currently 10.96%.

Institutional Investors Weigh In On Matador Resources

Several large investors have recently modified their holdings of MTDR. Parkside Financial Bank & Trust grew its holdings in shares of Matador Resources by 82.0% during the third quarter. Parkside Financial Bank & Trust now owns 444 shares of the energy company’s stock worth $26,000 after buying an additional 200 shares in the last quarter. Rise Advisors LLC bought a new position in shares of Matador Resources during the first quarter worth about $34,000. Oakworth Capital Inc. bought a new position in shares of Matador Resources during the fourth quarter worth about $31,000. Lindbrook Capital LLC grew its holdings in shares of Matador Resources by 84.3% during the first quarter. Lindbrook Capital LLC now owns 597 shares of the energy company’s stock worth $40,000 after buying an additional 273 shares in the last quarter. Finally, Financial Management Professionals Inc. bought a new position in shares of Matador Resources during the fourth quarter worth about $34,000. 91.98% of the stock is currently owned by institutional investors.

Matador Resources Company Profile

Matador Resources Company, an independent energy company, engages in the exploration, development, production, and acquisition of oil and natural gas resources in the United States. It operates through two segments, Exploration and Production; and Midstream. The company primarily holds interests in the Wolfcamp and Bone Spring plays in the Delaware Basin in Southeast New Mexico and West Texas.