Wells Fargo & Company Boosts Matador Resources (NYSE:MTDR) Price Target to $85.00

Matador Resources (NYSE:MTDR) had its price target lifted by Wells Fargo & Company from $76.00 to $85.00 in a report released on Thursday morning, Benzinga reports. Wells Fargo & Company currently has an overweight rating on the energy company’s stock.

MTDR has been the topic of a number of other research reports. KeyCorp decreased their price target on shares of Matador Resources from $76.00 to $71.00 and set an overweight rating on the stock in a research note on Thursday, January 11th. Mizuho upped their price target on shares of Matador Resources from $67.00 to $76.00 and gave the company a buy rating in a research note on Monday, April 1st. Benchmark cut their price objective on shares of Matador Resources from $71.00 to $62.00 and set a buy rating for the company in a report on Thursday, January 25th. JPMorgan Chase & Co. boosted their price objective on shares of Matador Resources from $76.00 to $77.00 and gave the company an overweight rating in a report on Thursday, April 11th. Finally, TD Cowen boosted their price objective on shares of Matador Resources from $64.00 to $72.00 and gave the company an outperform rating in a report on Monday, March 4th. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, Matador Resources presently has an average rating of Moderate Buy and a consensus price target of $73.40.

Matador Resources Stock Performance

NYSE MTDR opened at $64.61 on Thursday. Matador Resources has a 52-week low of $42.04 and a 52-week high of $71.08. The stock has a market cap of $7.72 billion, a PE ratio of 9.16 and a beta of 3.32. The firm has a 50-day moving average of $64.72 and a 200-day moving average of $59.94. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.98 and a current ratio of 1.04.

Matador Resources (NYSE:MTDR) last announced its quarterly earnings results on Wednesday, February 21st. The energy company reported $1.99 EPS for the quarter, missing analysts’ consensus estimates of $2.04 by ($0.05). Matador Resources had a net margin of 30.14% and a return on equity of 21.54%. The company had revenue of $836.13 million during the quarter, compared to analyst estimates of $842.96 million. During the same quarter last year, the company posted $2.08 EPS. The firm’s quarterly revenue was up 18.2% on a year-over-year basis. On average, sell-side analysts anticipate that Matador Resources will post 7.04 EPS for the current year.

Matador Resources Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 17th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date is Thursday, May 16th. Matador Resources’s dividend payout ratio (DPR) is presently 11.35%.

Institutional Trading of Matador Resources

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Algert Global LLC increased its position in Matador Resources by 1,500.9% during the 3rd quarter. Algert Global LLC now owns 71,240 shares of the energy company’s stock worth $4,237,000 after purchasing an additional 66,790 shares in the last quarter. Flputnam Investment Management Co. acquired a new position in Matador Resources during the 3rd quarter worth approximately $204,000. WCM Investment Management LLC increased its position in Matador Resources by 10.3% during the 4th quarter. WCM Investment Management LLC now owns 304,568 shares of the energy company’s stock worth $17,510,000 after purchasing an additional 28,390 shares in the last quarter. Natixis Advisors L.P. increased its position in Matador Resources by 85.4% during the 3rd quarter. Natixis Advisors L.P. now owns 134,903 shares of the energy company’s stock worth $8,024,000 after purchasing an additional 62,124 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in Matador Resources by 2.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,428,877 shares of the energy company’s stock worth $84,990,000 after purchasing an additional 33,859 shares in the last quarter. Institutional investors own 91.98% of the company’s stock.

Matador Resources Company Profile

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.