Matador Resources (NYSE:MTDR) Sets New 12-Month High – Still a Buy?

Matador Resources Company (NYSE:MTDR)’s stock price hit a new 52-week high during trading on Monday . The stock traded as high as $54.25 and last traded at $53.8560, with a volume of 435177 shares trading hands. The stock had previously closed at $51.40.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on MTDR. Citigroup began coverage on Matador Resources in a report on Monday, December 8th. They issued a “buy” rating and a $53.00 target price for the company. Mizuho lifted their price target on shares of Matador Resources from $67.00 to $70.00 and gave the stock an “outperform” rating in a report on Friday, December 12th. Morgan Stanley cut their target price on Matador Resources from $56.00 to $52.00 and set an “equal weight” rating on the stock in a report on Friday, January 23rd. BMO Capital Markets reiterated an “outperform” rating on shares of Matador Resources in a report on Thursday, December 18th. Finally, Bank of America lowered their target price on shares of Matador Resources from $55.00 to $50.00 and set a “buy” rating for the company in a research note on Monday, November 3rd. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Matador Resources currently has a consensus rating of “Moderate Buy” and a consensus price target of $57.82.

Matador Resources Stock Up 3.8%

The company has a market cap of $6.63 billion, a price-to-earnings ratio of 8.79 and a beta of 1.07. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.75 and a current ratio of 0.79. The stock’s fifty day moving average is $44.92 and its two-hundred day moving average is $44.43.

Matador Resources (NYSE:MTDR) last posted its earnings results on Tuesday, February 24th. The energy company reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.71 by $0.16. Matador Resources had a return on equity of 12.36% and a net margin of 20.54%.The company had revenue of $847.99 million for the quarter, compared to analyst estimates of $811.13 million. During the same quarter last year, the company earned $1.83 earnings per share. The company’s revenue for the quarter was down 15.7% on a year-over-year basis. Sell-side analysts predict that Matador Resources Company will post 8.53 earnings per share for the current fiscal year.

Matador Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 10th. Shareholders of record on Friday, February 27th will be paid a $0.375 dividend. The ex-dividend date is Friday, February 27th. This represents a $1.50 annualized dividend and a yield of 2.8%. Matador Resources’s dividend payout ratio (DPR) is 24.59%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in Matador Resources by 298.5% in the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 534 shares of the energy company’s stock worth $25,000 after acquiring an additional 400 shares during the period. Kestra Investment Management LLC lifted its holdings in Matador Resources by 225.2% during the 2nd quarter. Kestra Investment Management LLC now owns 517 shares of the energy company’s stock worth $25,000 after purchasing an additional 358 shares in the last quarter. Allworth Financial LP grew its holdings in Matador Resources by 182.0% during the 2nd quarter. Allworth Financial LP now owns 564 shares of the energy company’s stock valued at $27,000 after buying an additional 364 shares in the last quarter. Rothschild Investment LLC increased its position in shares of Matador Resources by 5,927.3% during the third quarter. Rothschild Investment LLC now owns 663 shares of the energy company’s stock valued at $30,000 after buying an additional 652 shares during the period. Finally, Measured Wealth Private Client Group LLC purchased a new stake in shares of Matador Resources in the third quarter worth about $35,000. Hedge funds and other institutional investors own 91.98% of the company’s stock.

Matador Resources Company Profile

Matador Resources Company is an independent energy firm primarily engaged in the exploration, development and production of oil, natural gas liquids (NGLs) and natural gas. The company focuses on upstream operations, utilizing horizontal drilling and hydraulic fracturing techniques to unlock hydrocarbons from key reservoirs. Its asset base includes both operated and non‐operated positions, with a particular emphasis on the Permian Basin, one of the most prolific oil-producing regions in North America.

Matador’s core operations are concentrated in the Delaware Basin segment of the Permian Basin, where it holds substantial acreage in both Reeves and Culberson counties in West Texas and Eddy and Lea counties in New Mexico.