Matador Resources (NYSE:MTDR) Stock Price Expected to Rise, Citigroup Analyst Says

Matador Resources (NYSE:MTDR) had its price objective lifted by Citigroup from $53.00 to $62.00 in a research note issued on Thursday,Benzinga reports. The firm currently has a “buy” rating on the energy company’s stock. Citigroup’s price target indicates a potential upside of 12.95% from the company’s previous close.

A number of other equities analysts also recently issued reports on the company. Wells Fargo & Company downgraded Matador Resources from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $61.00 to $47.00 in a research note on Tuesday, January 27th. BMO Capital Markets reissued an “outperform” rating on shares of Matador Resources in a research report on Thursday, December 18th. UBS Group upped their price target on shares of Matador Resources from $50.00 to $52.00 and gave the company a “neutral” rating in a research report on Thursday. Weiss Ratings reiterated a “hold (c-)” rating on shares of Matador Resources in a research note on Friday, January 9th. Finally, Royal Bank Of Canada cut their target price on shares of Matador Resources from $62.00 to $60.00 and set an “outperform” rating for the company in a research report on Tuesday, January 13th. One equities research 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 MarketBeat.com, Matador Resources presently has an average rating of “Moderate Buy” and a consensus price target of $58.82.

Matador Resources Stock Up 2.5%

MTDR traded up $1.36 during trading on Thursday, hitting $54.89. 1,188,602 shares of the company’s stock traded hands, compared to its average volume of 1,912,595. The stock has a market capitalization of $6.82 billion, a price-to-earnings ratio of 9.00 and a beta of 1.07. The company’s 50 day simple moving average is $45.64 and its two-hundred day simple moving average is $44.59. Matador Resources has a 12-month low of $35.19 and a 12-month high of $55.60. The company has a current ratio of 0.79, a quick ratio of 0.75 and a debt-to-equity ratio of 0.57.

Matador Resources (NYSE:MTDR) last released its quarterly earnings data on Tuesday, February 24th. The energy company reported $0.87 EPS for the quarter, beating the consensus estimate of $0.71 by $0.16. The company had revenue of $847.99 million for the quarter, compared to analysts’ expectations of $811.13 million. Matador Resources had a return on equity of 12.36% and a net margin of 20.54%.Matador Resources’s revenue was down 15.7% compared to the same quarter last year. During the same period last year, the firm posted $1.83 earnings per share. Analysts predict that Matador Resources will post 8.53 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Matador Resources

Institutional investors have recently added to or reduced their stakes in the stock. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of Matador Resources by 298.5% during the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 534 shares of the energy company’s stock valued at $25,000 after acquiring an additional 400 shares during the period. Kestra Investment Management LLC lifted its position in Matador Resources by 225.2% during the second quarter. Kestra Investment Management LLC now owns 517 shares of the energy company’s stock worth $25,000 after purchasing an additional 358 shares during the period. Allworth Financial LP grew its stake in Matador Resources by 182.0% during the second quarter. Allworth Financial LP now owns 564 shares of the energy company’s stock worth $27,000 after buying an additional 364 shares in the last quarter. Rothschild Investment LLC raised its position in shares of Matador Resources by 5,927.3% in the 3rd quarter. Rothschild Investment LLC now owns 663 shares of the energy company’s stock valued at $30,000 after buying an additional 652 shares in the last quarter. Finally, Measured Wealth Private Client Group LLC bought a new stake in shares of Matador Resources during the 3rd quarter worth approximately $35,000. 91.98% of the stock is owned by hedge funds and other institutional investors.

About Matador Resources

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.