Matador Resources (NYSE:MTDR) Price Target Cut to $62.00

Matador Resources (NYSE:MTDR) had its price objective lowered by Benchmark from $71.00 to $62.00 in a research report sent to investors on Tuesday morning, Benzinga reports. The firm currently has a buy rating on the energy company’s stock.

Other equities research analysts also recently issued research reports about the stock. TD Cowen raised their price objective on shares of Matador Resources from $64.00 to $72.00 and gave the company an outperform rating in a research report on Monday, March 4th. KeyCorp raised their price objective on shares of Matador Resources from $71.00 to $76.00 and gave the company an overweight rating in a research report on Monday. Raymond James reduced their price objective on shares of Matador Resources from $76.00 to $70.00 and set an outperform rating for the company in a research report on Monday, January 8th. Wells Fargo & Company raised their price objective on shares of Matador Resources from $76.00 to $85.00 and gave the company an overweight rating in a research report on Thursday, April 18th. Finally, StockNews.com upgraded shares of Matador Resources from a sell rating to a hold rating in a research report on Thursday, February 22nd. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average target price of $74.10.

Matador Resources Price Performance

Shares of MTDR opened at $65.60 on Tuesday. Matador Resources has a fifty-two week low of $42.04 and a fifty-two week high of $71.08. The company has a market capitalization of $7.84 billion, a price-to-earnings ratio of 8.99 and a beta of 3.32. The firm has a 50-day simple moving average of $65.25 and a 200-day simple moving average of $60.16. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.98 and a current ratio of 0.89.

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

Matador Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 17th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend 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%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Parkside Financial Bank & Trust increased its stake in shares of Matador Resources by 82.0% during the 3rd quarter. Parkside Financial Bank & Trust now owns 444 shares of the energy company’s stock worth $26,000 after purchasing an additional 200 shares in the last quarter. Oakworth Capital Inc. purchased a new position in shares of Matador Resources during the 4th quarter worth approximately $31,000. Financial Management Professionals Inc. purchased a new position in shares of Matador Resources during the 4th quarter worth approximately $34,000. Rise Advisors LLC purchased a new position in shares of Matador Resources during the 1st quarter worth approximately $34,000. Finally, McGlone Suttner Wealth Management Inc. purchased a new position in shares of Matador Resources during the 4th quarter worth approximately $35,000. 91.98% of the stock is owned by hedge funds and other 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.