Matador Resources (NYSE:MTDR) Reaches New 12-Month High – What’s Next?

Matador Resources Company (NYSE:MTDR) reached a new 52-week high during mid-day trading on Monday . The company traded as high as $57.53 and last traded at $57.11, with a volume of 365184 shares changing hands. The stock had previously closed at $56.32.

Analysts Set New Price Targets

Several research analysts recently commented on MTDR shares. BMO Capital Markets restated an “outperform” rating on shares of Matador Resources in a report on Thursday, December 18th. Morgan Stanley decreased their price objective on Matador Resources from $56.00 to $52.00 and set an “equal weight” rating for the company in a report on Friday, January 23rd. TD Cowen upgraded Matador Resources to a “strong-buy” rating in a report on Monday, February 9th. Citigroup increased their price target on Matador Resources from $53.00 to $62.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Royal Bank Of Canada lowered their price target on Matador Resources from $62.00 to $60.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 13th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $58.82.

Matador Resources Price Performance

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 capitalization of $7.24 billion, a P/E ratio of 9.55 and a beta of 1.07. The company has a 50 day moving average price of $46.20 and a 200 day moving average price of $44.71.

Matador Resources (NYSE:MTDR) last announced its quarterly earnings results on Tuesday, February 24th. The energy company reported $0.87 earnings per share (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 business had revenue of $847.99 million during the quarter, compared to the consensus estimate of $811.13 million. During the same quarter last year, the firm posted $1.83 EPS. The company’s quarterly revenue was down 15.7% on a year-over-year basis. On average, equities analysts predict that Matador Resources Company will post 8.53 EPS for the current fiscal year.

Matador Resources Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Friday, February 27th will be issued a dividend of $0.375 per share. The ex-dividend date of this dividend is Friday, February 27th. This represents a $1.50 annualized dividend and a dividend yield of 2.6%. Matador Resources’s payout ratio is presently 24.59%.

Institutional Investors Weigh In On Matador Resources

Several hedge funds have recently bought and sold shares of the stock. Vaughan Nelson Investment Management L.P. lifted its holdings in Matador Resources by 64.3% during the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 1,100,805 shares of the energy company’s stock worth $49,459,000 after purchasing an additional 431,010 shares during the last quarter. Thrivent Financial for Lutherans increased its position in Matador Resources by 3.8% during the 3rd quarter. Thrivent Financial for Lutherans now owns 1,032,602 shares of the energy company’s stock worth $46,395,000 after buying an additional 37,889 shares during the period. Hussman Strategic Advisors Inc. acquired a new stake in shares of Matador Resources during the third quarter worth $1,887,000. Mitsubishi UFJ Trust & Banking Corp boosted its position in shares of Matador Resources by 309.6% in the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 32,010 shares of the energy company’s stock valued at $1,438,000 after acquiring an additional 24,195 shares during the period. Finally, Thomist Capital Management LP acquired a new position in shares of Matador Resources in the second quarter valued at about $4,289,000. 91.98% of the stock is currently owned by institutional investors and hedge funds.

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.