BMO Capital Markets Raises Matador Resources (NYSE:MTDR) Price Target to $72.00

Matador Resources (NYSE:MTDR) had its price objective increased by equities researchers at BMO Capital Markets from $65.00 to $72.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has an “outperform” rating on the energy company’s stock. BMO Capital Markets’ price target indicates a potential upside of 13.82% from the company’s current price.

MTDR has been the topic of several other reports. Morgan Stanley cut their price objective on shares of Matador Resources from $56.00 to $52.00 and set an “equal weight” rating on the stock in a report on Friday, January 23rd. TD Cowen upped their target price on shares of Matador Resources from $60.00 to $65.00 and gave the company a “buy” rating in a research report on Tuesday, March 17th. Weiss Ratings reissued a “hold (c-)” rating on shares of Matador Resources in a research note on Friday, January 9th. Mizuho lifted their price objective on Matador Resources from $67.00 to $70.00 and gave the stock an “outperform” rating in a research note on Friday, December 12th. Finally, Truist Financial initiated coverage on Matador Resources in a report on Tuesday, March 24th. They issued a “hold” rating and a $60.00 price objective for the company. Eleven equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $63.36.

Matador Resources Price Performance

Shares of Matador Resources stock traded up $0.36 during midday trading on Monday, reaching $63.26. The company had a trading volume of 98,702 shares, compared to its average volume of 1,947,182. 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 stock has a fifty day simple moving average of $53.06 and a 200 day simple moving average of $46.24. Matador Resources has a 1-year low of $35.19 and a 1-year high of $66.84. The company has a market capitalization of $7.86 billion, a price-to-earnings ratio of 10.37 and a beta of 0.91.

Matador Resources (NYSE:MTDR) last posted its quarterly earnings data on Tuesday, February 24th. The energy company reported $0.87 earnings per share (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 the consensus estimate of $811.13 million. Matador Resources had a return on equity of 12.36% and a net margin of 20.54%.The business’s revenue for the quarter was down 15.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.83 EPS. As a group, equities research analysts forecast that Matador Resources will post 8.53 earnings per share for the current year.

Institutional Trading of Matador Resources

Several hedge funds have recently added to or reduced their stakes in MTDR. Adage Capital Partners GP L.L.C. increased its holdings in shares of Matador Resources by 143.1% in the second quarter. Adage Capital Partners GP L.L.C. now owns 2,556,472 shares of the energy company’s stock worth $121,995,000 after acquiring an additional 1,505,000 shares in the last quarter. CIBC Bancorp USA Inc. bought a new stake in Matador Resources during the 3rd quarter worth approximately $61,615,000. Wellington Management Group LLP raised its holdings in Matador Resources by 65.0% during the 4th quarter. Wellington Management Group LLP now owns 3,406,182 shares of the energy company’s stock worth $144,558,000 after buying an additional 1,342,145 shares during the period. Encompass Capital Advisors LLC bought a new position in Matador Resources in the fourth quarter valued at approximately $53,249,000. Finally, Balyasny Asset Management L.P. boosted its holdings in shares of Matador Resources by 2,495.0% in the fourth quarter. Balyasny Asset Management L.P. now owns 552,856 shares of the energy company’s stock valued at $23,463,000 after buying an additional 531,551 shares during the period. Institutional investors and hedge funds 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.