Matador Resources (NYSE:MTDR) Price Target Cut to $62.00 by Analysts at Benchmark

Matador Resources (NYSE:MTDR) had its price target reduced by Benchmark from $71.00 to $62.00 in a research report sent to investors on Tuesday, Benzinga reports. They currently have a buy rating on the energy company’s stock.

Several other brokerages have also recently weighed in on MTDR. Wells Fargo & Company lifted their price objective on Matador Resources from $76.00 to $85.00 and gave the company an overweight rating in a report on Thursday, April 18th. JPMorgan Chase & Co. boosted their price target on Matador Resources from $76.00 to $77.00 and gave the stock an overweight rating in a report on Thursday, April 11th. KeyCorp boosted their price target on Matador Resources from $71.00 to $76.00 and gave the stock an overweight rating in a report on Monday. TD Cowen boosted their price target on Matador Resources from $64.00 to $72.00 and gave the stock an outperform rating in a report on Monday, March 4th. Finally, Mizuho boosted their price target on Matador Resources from $67.00 to $76.00 and gave the stock a buy rating in a report on Monday, April 1st. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of Moderate Buy and an average target price of $73.90.

Matador Resources Stock Performance

MTDR opened at $65.19 on Tuesday. The business has a fifty day simple moving average of $65.07 and a 200 day simple moving average of $60.12. The company has a market capitalization of $7.79 billion, a PE ratio of 9.25 and a beta of 3.32. Matador Resources has a 1 year low of $42.04 and a 1 year high of $71.08. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.04 and a quick ratio of 0.98.

Matador Resources (NYSE:MTDR) last released its quarterly earnings results on Wednesday, February 21st. The energy company reported $1.99 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.04 by ($0.05). The firm had revenue of $836.13 million during the quarter, compared to the consensus estimate of $842.96 million. Matador Resources had a net margin of 30.14% and a return on equity of 21.54%. The business’s revenue for the quarter was up 18.2% compared to the same quarter last year. During the same quarter last year, the firm earned $2.08 earnings per share. Research analysts expect that Matador Resources will post 7.14 EPS for the current year.

Matador Resources Dividend Announcement

The company also recently announced 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 is Thursday, May 16th. This represents a $0.80 dividend on an annualized basis and a yield of 1.23%. Matador Resources’s payout ratio is presently 11.35%.

Hedge Funds Weigh In On Matador Resources

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Atria Wealth Solutions Inc. increased its holdings in Matador Resources by 5.3% in the 4th quarter. Atria Wealth Solutions Inc. now owns 3,880 shares of the energy company’s stock worth $221,000 after purchasing an additional 195 shares in the last quarter. Great Lakes Advisors LLC grew its position in shares of Matador Resources by 1.4% in the 3rd quarter. Great Lakes Advisors LLC now owns 13,851 shares of the energy company’s stock valued at $824,000 after buying an additional 196 shares during the last quarter. Parkside Financial Bank & Trust grew its position in shares of Matador Resources by 82.0% in the 3rd quarter. Parkside Financial Bank & Trust now owns 444 shares of the energy company’s stock valued at $26,000 after buying an additional 200 shares during the last quarter. Verdence Capital Advisors LLC grew its position in shares of Matador Resources by 3.0% in the 3rd quarter. Verdence Capital Advisors LLC now owns 6,964 shares of the energy company’s stock valued at $414,000 after buying an additional 201 shares during the last quarter. Finally, Huntington National Bank grew its position in shares of Matador Resources by 11.4% in the 3rd quarter. Huntington National Bank now owns 2,112 shares of the energy company’s stock valued at $126,000 after buying an additional 216 shares during the last quarter. Institutional investors and hedge funds own 91.98% of the company’s stock.

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.