Matador Resources (NYSE:MTDR) Sets New 52-Week High – Time to Buy?

Matador Resources Company (NYSE:MTDR) reached a new 52-week high during trading on Monday . The stock traded as high as $59.54 and last traded at $59.2160, with a volume of 903407 shares changing hands. The stock had previously closed at $58.50.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Mizuho increased their target price on Matador Resources from $67.00 to $70.00 and gave the stock an “outperform” rating in a report on Friday, December 12th. BMO Capital Markets lifted their price objective on shares of Matador Resources from $60.00 to $65.00 and gave the company an “outperform” rating in a report on Wednesday, March 11th. UBS Group boosted their target price on shares of Matador Resources from $50.00 to $52.00 and gave the stock a “neutral” rating in a research report on Thursday, March 5th. KeyCorp reaffirmed an “overweight” rating on shares of Matador Resources in a research report on Friday, December 19th. Finally, TD Cowen lifted their price target on Matador Resources from $60.00 to $65.00 and gave the company a “buy” rating in a research note on Tuesday, March 17th. Eleven investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $60.31.

Matador Resources Trading Up 0.6%

The company has a debt-to-equity ratio of 0.57, a current ratio of 0.79 and a quick ratio of 0.75. The firm’s fifty day moving average is $49.15 and its two-hundred day moving average is $45.23. The firm has a market capitalization of $7.32 billion, a PE ratio of 9.65 and a beta of 1.07.

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

Matador Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 10th. Shareholders of record on Friday, February 27th were given a $0.375 dividend. The ex-dividend date of this dividend was Friday, February 27th. This represents a $1.50 annualized dividend and a yield of 2.5%. Matador Resources’s payout ratio is currently 24.59%.

Institutional Investors Weigh In On Matador Resources

Several large investors have recently made changes to their positions in the business. Rockefeller Capital Management L.P. boosted its holdings in shares of Matador Resources by 179.6% in the 4th quarter. Rockefeller Capital Management L.P. now owns 2,869 shares of the energy company’s stock worth $122,000 after buying an additional 1,843 shares during the last quarter. MidFirst Bank bought a new stake in Matador Resources in the fourth quarter worth about $214,000. Invesco Ltd. boosted its stake in Matador Resources by 45.9% in the fourth quarter. Invesco Ltd. now owns 594,849 shares of the energy company’s stock valued at $25,245,000 after acquiring an additional 187,178 shares during the last quarter. XTX Topco Ltd bought a new position in shares of Matador Resources during the 4th quarter valued at approximately $340,000. Finally, Virtus Investment Advisers LLC bought a new position in shares of Matador Resources during the 4th quarter valued at approximately $165,000. 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.