Matador Resources (NYSE:MTDR) Given New $52.00 Price Target at UBS Group

Matador Resources (NYSE:MTDR) had its price target increased by UBS Group from $50.00 to $52.00 in a research note published on Thursday,Benzinga reports. The brokerage currently has a neutral rating on the energy company’s stock.

Other equities analysts have also issued research reports about the stock. Morgan Stanley dropped their target price on shares of Matador Resources from $56.00 to $52.00 and set an “equal weight” rating for the company in a research report on Friday, January 23rd. Wells Fargo & Company downgraded Matador Resources from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $61.00 to $47.00 in a report on Tuesday, January 27th. BMO Capital Markets reissued an “outperform” rating on shares of Matador Resources in a research report on Thursday, December 18th. Mizuho raised their price target on Matador Resources from $67.00 to $70.00 and gave the stock an “outperform” rating in a report on Friday, December 12th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Matador Resources in a research report on Friday, January 9th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $58.82.

Matador Resources Stock Performance

Shares of NYSE:MTDR opened at $55.06 on Thursday. The company has a current ratio of 0.79, a quick ratio of 0.75 and a debt-to-equity ratio of 0.57. The company has a market cap of $6.84 billion, a price-to-earnings ratio of 9.03 and a beta of 1.07. The company has a 50-day moving average price of $45.90 and a 200-day moving average price of $44.66. Matador Resources has a 12 month low of $35.19 and a 12 month high of $55.60.

Matador Resources (NYSE:MTDR) last posted its quarterly earnings results on Tuesday, February 24th. The energy company reported $0.87 earnings per share for the quarter, topping the consensus estimate 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 the consensus estimate of $811.13 million. The firm’s quarterly revenue was down 15.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.83 EPS. As a group, equities analysts anticipate that Matador Resources will post 8.53 EPS for the current year.

Matador Resources Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Friday, February 27th will be paid a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend is Friday, February 27th. Matador Resources’s dividend payout ratio is presently 24.59%.

Hedge Funds Weigh In On Matador Resources

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

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.