Benchmark Trims Matador Resources (NYSE:MTDR) Target Price to $62.00

Matador Resources (NYSE:MTDR) had its target price trimmed by Benchmark from $71.00 to $62.00 in a research report sent to investors on Tuesday morning, Benzinga reports. The brokerage currently has a buy rating on the energy company’s stock.

Several other research analysts have also recently issued reports on the company. KeyCorp increased their price objective on Matador Resources from $71.00 to $76.00 and gave the stock an overweight rating in a research note on Monday. Raymond James dropped their price objective on Matador Resources from $76.00 to $70.00 and set an outperform rating on the stock in a research note on Monday, January 8th. TD Cowen increased their price objective on Matador Resources from $64.00 to $72.00 and gave the stock an outperform rating in a research note on Monday, March 4th. Truist Financial increased their price objective on Matador Resources from $82.00 to $85.00 and gave the stock a buy rating in a research note on Friday, April 5th. Finally, Wells Fargo & Company increased their price objective on Matador Resources from $76.00 to $85.00 and gave the stock an overweight rating in a research note on Thursday, April 18th. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, Matador Resources has an average rating of Moderate Buy and an average price target of $74.10.

Matador Resources Trading Up 0.5 %

MTDR opened at $65.60 on Tuesday. The stock has a market cap of $7.84 billion, a price-to-earnings ratio of 8.99 and a beta of 3.32. The stock’s 50 day moving average price is $65.25 and its 200-day moving average price is $60.16. Matador Resources has a one year low of $42.04 and a one year high of $71.08. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.98 and a current ratio of 0.89.

Matador Resources (NYSE:MTDR) last released its earnings results on Tuesday, April 23rd. The energy company reported $1.71 EPS for the quarter, beating analysts’ consensus estimates of $1.39 by $0.32. The firm had revenue of $787.70 million for the quarter, compared to analysts’ expectations of $740.99 million. Matador Resources had a return on equity of 20.62% and a net margin of 28.89%. The company’s quarterly revenue was up 40.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.50 earnings per share. On average, equities analysts forecast that Matador Resources will post 7.3 EPS for the current year.

Matador Resources Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Shareholders of record on Friday, May 17th will be issued a dividend of $0.20 per share. The ex-dividend date is Thursday, May 16th. This represents a $0.80 dividend on an annualized basis and a yield of 1.22%. Matador Resources’s dividend payout ratio is currently 10.96%.

Institutional Trading of Matador Resources

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Shaker Investments LLC OH lifted its holdings in shares of Matador Resources by 1.1% during the 1st quarter. Shaker Investments LLC OH now owns 27,345 shares of the energy company’s stock valued at $1,826,000 after purchasing an additional 297 shares during the last quarter. Lindbrook Capital LLC lifted its holdings in shares of Matador Resources by 84.3% during the 1st quarter. Lindbrook Capital LLC now owns 597 shares of the energy company’s stock valued at $40,000 after purchasing an additional 273 shares during the last quarter. WCM Investment Management LLC lifted its holdings in shares of Matador Resources by 2.5% during the 1st quarter. WCM Investment Management LLC now owns 312,066 shares of the energy company’s stock valued at $20,837,000 after purchasing an additional 7,498 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of Matador Resources by 1.5% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 27,979 shares of the energy company’s stock valued at $1,868,000 after purchasing an additional 425 shares during the last quarter. Finally, Simplicity Wealth LLC purchased a new stake in shares of Matador Resources during the 1st quarter valued at $266,000. Hedge funds and other institutional investors own 91.98% of the company’s stock.

About Matador Resources

Matador Resources Company, an independent energy company, engages in the exploration, development, production, and acquisition of oil and natural gas resources in the United States. It operates through two segments, Exploration and Production; and Midstream. The company primarily holds interests in the Wolfcamp and Bone Spring plays in the Delaware Basin in Southeast New Mexico and West Texas.