Mizuho Boosts Matador Resources (NYSE:MTDR) Price Target to $78.00

Matador Resources (NYSE:MTDR) had its price objective raised by analysts at Mizuho from $76.00 to $78.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the energy company’s stock. Mizuho’s target price would suggest a potential upside of 19.65% from the stock’s current price.

MTDR has been the subject of a number of other research reports. Roth Mkm reissued a “buy” rating and set a $66.00 price objective on shares of Matador Resources in a research report on Monday, March 25th. Royal Bank of Canada reissued an “outperform” rating and set a $70.00 price objective on shares of Matador Resources in a research report on Tuesday, March 5th. Truist Financial boosted their price objective on shares of Matador Resources from $82.00 to $85.00 and gave the company a “buy” rating in a research report on Friday, April 5th. 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 research report on Monday, March 4th. Finally, StockNews.com raised shares of Matador Resources from a “sell” rating to a “hold” rating in a research report on Thursday, February 22nd. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, Matador Resources has a consensus rating of “Moderate Buy” and a consensus target price of $74.10.

Matador Resources Price Performance

Shares of MTDR opened at $65.19 on Wednesday. The company has a market capitalization of $7.79 billion, a P/E ratio of 9.25 and a beta of 3.32. The company has a quick ratio of 0.98, a current ratio of 1.04 and a debt-to-equity ratio of 0.53. The firm has a 50 day moving average of $65.07 and a 200 day moving average of $60.12. Matador Resources has a twelve month low of $42.04 and a twelve month high of $71.08.

Matador Resources (NYSE:MTDR) last posted its 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 return on equity of 21.54% and a net margin of 30.14%. The company had revenue of $836.13 million during the quarter, compared to the consensus estimate of $842.96 million. During the same period last year, the firm posted $2.08 EPS. The company’s revenue for the quarter was up 18.2% on a year-over-year basis. As a group, equities research analysts anticipate that Matador Resources will post 7.17 earnings per share for the current fiscal year.

Institutional Trading of Matador Resources

Several hedge funds have recently made changes to their positions in the business. William Blair Investment Management LLC bought a new position in Matador Resources during the 3rd quarter valued at about $33,720,000. Goldman Sachs Group Inc. grew its holdings in Matador Resources by 31.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,206,041 shares of the energy company’s stock valued at $125,435,000 after purchasing an additional 531,504 shares during the last quarter. Public Employees Retirement Association of Colorado grew its stake in Matador Resources by 14,874.4% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 427,520 shares of the energy company’s stock worth $24,309,000 after acquiring an additional 424,665 shares in the last quarter. First Dallas Securities Inc. grew its stake in Matador Resources by 4,501.7% in the 3rd quarter. First Dallas Securities Inc. now owns 387,003 shares of the energy company’s stock worth $23,019,000 after acquiring an additional 378,593 shares in the last quarter. Finally, Victory Capital Management Inc. grew its stake in Matador Resources by 13.0% in the 3rd quarter. Victory Capital Management Inc. now owns 3,228,290 shares of the energy company’s stock worth $192,019,000 after acquiring an additional 372,528 shares in the last quarter. 91.98% of the stock is currently owned by hedge funds and other institutional investors.

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.