Matador Resources (NYSE:MTDR) Sets New 1-Year High – Here’s Why

Matador Resources Company (NYSE:MTDR) shares hit a new 52-week high on Monday . The stock traded as high as $66.03 and last traded at $66.2870, with a volume of 3494 shares trading hands. The stock had previously closed at $65.45.

Analysts Set New Price Targets

A number of research firms have issued reports on MTDR. Mizuho lifted their target price on shares of Matador Resources from $67.00 to $70.00 and gave the company an “outperform” rating in a research note on Friday, December 12th. Truist Financial started coverage on shares of Matador Resources in a research note on Tuesday, March 24th. They set a “hold” rating and a $60.00 price target on the stock. KeyCorp restated an “overweight” rating on shares of Matador Resources in a report on Friday, December 19th. Royal Bank Of Canada reduced their price objective on shares of Matador Resources from $62.00 to $60.00 and set an “outperform” rating for the company in a research note on Tuesday, January 13th. Finally, Morgan Stanley lowered their target price on shares of Matador Resources from $56.00 to $52.00 and set an “equal weight” rating on the stock in a research report on Friday, January 23rd. Eleven analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $61.36.

Matador Resources Trading Down 2.5%

The stock has a market capitalization of $7.85 billion, a price-to-earnings ratio of 10.36 and a beta of 1.07. 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 fifty day moving average of $51.93 and a two-hundred day moving average of $45.93.

Matador Resources (NYSE:MTDR) last announced its quarterly earnings results on Tuesday, February 24th. The energy company reported $0.87 EPS for the quarter, beating 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. During the same quarter last year, the company posted $1.83 earnings per share. The company’s revenue for the quarter was down 15.7% compared to the same quarter last year. On average, research analysts expect that Matador Resources Company will post 8.53 EPS for the current year.

Matador Resources Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 10th. Investors of record on Friday, February 27th were paid a $0.375 dividend. The ex-dividend date was Friday, February 27th. This represents a $1.50 dividend on an annualized basis and a yield of 2.4%. Matador Resources’s dividend payout ratio (DPR) is presently 24.59%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Kestra Investment Management LLC lifted its position 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 acquiring an additional 358 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. Measured Wealth Private Client Group LLC bought a new position in shares of Matador Resources in the third quarter worth about $35,000. Gilpin Wealth Management LLC bought a new position in shares of Matador Resources in the fourth quarter worth about $42,000. Finally, Geneos Wealth Management Inc. lifted its position in shares of Matador Resources by 361.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 881 shares of the energy company’s stock worth $45,000 after purchasing an additional 690 shares during the last quarter. Institutional investors own 91.98% of the company’s stock.

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.