Matador Resources (NYSE:MTDR) Receives $72.50 Consensus Target Price from Brokerages

Shares of Matador Resources (NYSE:MTDR) have earned a consensus rating of “Buy” from the ten ratings firms that are currently covering the stock, Marketbeat.com reports. Ten equities research analysts have rated the stock with a buy recommendation. The average 12 month price target among analysts that have issued a report on the stock in the last year is $73.40.

A number of equities research analysts have recently issued reports on the stock. KeyCorp cut their price target on shares of Matador Resources from $76.00 to $71.00 and set an “overweight” rating on the stock in a report on Thursday, January 11th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $70.00 price objective on shares of Matador Resources in a report on Tuesday, March 5th. Benchmark reduced their price target on shares of Matador Resources from $71.00 to $62.00 and set a “buy” rating for the company in a report on Thursday, January 25th. JPMorgan Chase & Co. raised their price objective on shares of Matador Resources from $76.00 to $77.00 and gave the stock an “overweight” rating in a report on Thursday, April 11th. Finally, TD Cowen raised their price objective on shares of Matador Resources from $64.00 to $72.00 and gave the stock an “outperform” rating in a report on Monday, March 4th.

Matador Resources Trading Down 1.4 %

Shares of NYSE:MTDR opened at $64.73 on Tuesday. Matador Resources has a twelve month low of $42.04 and a twelve month high of $71.08. The firm has a market cap of $7.74 billion, a P/E ratio of 9.18 and a beta of 3.32. The company has a 50 day moving average of $64.52 and a 200-day moving average of $59.86. The company has a current ratio of 1.04, a quick ratio of 0.98 and a debt-to-equity ratio of 0.53.

Matador Resources (NYSE:MTDR) last released its earnings results on Wednesday, February 21st. The energy company reported $1.99 EPS for the quarter, missing the consensus estimate of $2.04 by ($0.05). Matador Resources had a net margin of 30.14% and a return on equity of 21.54%. The business had revenue of $836.13 million for the quarter, compared to analyst estimates of $842.96 million. During the same period in the prior year, the company earned $2.08 earnings per share. The firm’s revenue for the quarter was up 18.2% on a year-over-year basis. As a group, analysts anticipate that Matador Resources will post 7.04 earnings per share for the current fiscal year.

Matador Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 13th. Stockholders of record on Friday, February 23rd were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.24%. The ex-dividend date was Thursday, February 22nd. Matador Resources’s dividend payout ratio is 11.35%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Wasatch Advisors LP lifted its position in shares of Matador Resources by 7.3% in the first quarter. Wasatch Advisors LP now owns 1,176,802 shares of the energy company’s stock worth $78,575,000 after purchasing an additional 79,920 shares in the last quarter. State of Michigan Retirement System grew its stake in shares of Matador Resources by 2.3% in the first quarter. State of Michigan Retirement System now owns 27,200 shares of the energy company’s stock valued at $1,816,000 after acquiring an additional 600 shares in the last quarter. Dash Acquisitions Inc. acquired a new stake in Matador Resources during the first quarter worth about $6,450,000. Vaughan Nelson Investment Management L.P. grew its stake in Matador Resources by 33.4% during the first quarter. Vaughan Nelson Investment Management L.P. now owns 816,445 shares of the energy company’s stock worth $54,515,000 after buying an additional 204,285 shares in the last quarter. Finally, MorganRosel Wealth Management LLC bought a new position in shares of Matador Resources in the first quarter worth about $200,000. Institutional investors and hedge funds own 91.98% of the company’s stock.

About Matador Resources

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.