Truist Financial Raises Matador Resources (NYSE:MTDR) Price Target to $87.00

Matador Resources (NYSE:MTDR) had its price target increased by Truist Financial from $85.00 to $87.00 in a research report sent to investors on Friday morning, Benzinga reports. Truist Financial currently has a buy rating on the energy company’s stock.

MTDR has been the subject of several other reports. Mizuho raised their price target on Matador Resources from $76.00 to $78.00 and gave the company a buy rating in a report on Wednesday, April 24th. Benchmark reduced their price target on Matador Resources from $71.00 to $62.00 and set a buy rating for the company in a report on Tuesday, April 23rd. JPMorgan Chase & Co. raised their price target on Matador Resources from $76.00 to $77.00 and gave the company an overweight rating in a report on Thursday, April 11th. KeyCorp raised their price target on Matador Resources from $71.00 to $76.00 and gave the company an overweight rating in a report on Monday, April 22nd. Finally, Wells Fargo & Company lifted their price objective on Matador Resources from $76.00 to $85.00 and gave the stock an overweight rating in a report on Thursday, April 18th. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus price target of $74.30.

Matador Resources Trading Up 0.0 %

Shares of MTDR stock opened at $65.61 on Friday. The business’s 50 day moving average is $65.50 and its two-hundred day moving average is $60.25. Matador Resources has a twelve month low of $42.04 and a twelve month high of $71.08. The company has a market capitalization of $7.84 billion, a P/E ratio of 8.99 and a beta of 3.32. The company has a current ratio of 0.89, a quick ratio of 0.84 and a debt-to-equity ratio of 0.43.

Matador Resources (NYSE:MTDR) last posted its quarterly earnings results on Tuesday, April 23rd. The energy company reported $1.71 EPS for the quarter, beating the consensus estimate of $1.39 by $0.32. The business had revenue of $787.70 million during 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 company’s quarterly revenue was up 40.6% compared to the same quarter last year. During the same period last year, the firm earned $1.50 EPS. Equities analysts forecast that Matador Resources will post 7.5 EPS for the current year.

Matador Resources Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Stockholders 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 dividend yield of 1.22%. Matador Resources’s dividend payout ratio (DPR) is 10.96%.

Hedge Funds Weigh In On Matador Resources

Institutional investors have recently made changes to their positions in the stock. Algert Global LLC raised its holdings in shares of Matador Resources by 1,500.9% in the third quarter. Algert Global LLC now owns 71,240 shares of the energy company’s stock worth $4,237,000 after acquiring an additional 66,790 shares during the last quarter. Wedge Capital Management L L P NC grew its position in shares of Matador Resources by 31.2% in the fourth quarter. Wedge Capital Management L L P NC now owns 92,100 shares of the energy company’s stock valued at $5,237,000 after purchasing an additional 21,924 shares during the period. Flputnam Investment Management Co. purchased a new stake in shares of Matador Resources in the third quarter valued at $204,000. WCM Investment Management LLC grew its position in shares of Matador Resources by 10.3% in the fourth quarter. WCM Investment Management LLC now owns 304,568 shares of the energy company’s stock valued at $17,510,000 after purchasing an additional 28,390 shares during the period. Finally, Natixis Advisors L.P. grew its position in shares of Matador Resources by 85.4% in the third quarter. Natixis Advisors L.P. now owns 134,903 shares of the energy company’s stock valued at $8,024,000 after purchasing an additional 62,124 shares during the period. 91.98% of the stock is owned by institutional investors and hedge funds.

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.