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

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

Other research analysts have also issued research reports about the company. Truist Financial increased their target price on Matador Resources from $82.00 to $85.00 and gave the stock a buy rating in a research report on Friday, April 5th. Wells Fargo & Company raised their price objective on Matador Resources from $76.00 to $85.00 and gave the company an overweight rating in a research report on Thursday, April 18th. JPMorgan Chase & Co. raised their price objective on Matador Resources from $76.00 to $77.00 and gave the company an overweight rating in a research report on Thursday, April 11th. KeyCorp raised their price objective on Matador Resources from $71.00 to $76.00 and gave the company an overweight rating in a research report on Monday, April 22nd. Finally, Royal Bank of Canada reaffirmed an outperform rating and set a $70.00 price objective on shares of Matador Resources in a research report on Tuesday, March 5th. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, Matador Resources currently has a consensus rating of Moderate Buy and a consensus target price of $74.30.

Matador Resources Stock Up 0.0 %

Shares of NYSE:MTDR opened at $65.60 on Tuesday. Matador Resources has a 52-week low of $42.04 and a 52-week high of $71.08. The firm has a market capitalization of $7.84 billion, a P/E ratio of 8.99 and a beta of 3.32. The stock has a 50 day moving average price of $65.38 and a 200-day moving average price of $60.20. 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 announced its earnings results on Tuesday, April 23rd. The energy company reported $1.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.32. Matador Resources had a return on equity of 20.62% and a net margin of 28.89%. The firm had revenue of $787.70 million during the quarter, compared to analyst estimates of $740.99 million. During the same quarter in the prior year, the company earned $1.50 EPS. The business’s revenue was up 40.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Matador Resources will post 7.3 EPS for the current fiscal year.

Matador Resources Dividend Announcement

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

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of MTDR. Parkside Financial Bank & Trust boosted its position in shares of Matador Resources by 82.0% during the third quarter. Parkside Financial Bank & Trust now owns 444 shares of the energy company’s stock valued at $26,000 after buying an additional 200 shares during the period. Oakworth Capital Inc. purchased a new position in shares of Matador Resources during the fourth quarter valued at approximately $31,000. Financial Management Professionals Inc. purchased a new position in shares of Matador Resources during the fourth quarter valued at approximately $34,000. Rise Advisors LLC purchased a new position in shares of Matador Resources during the first quarter valued at approximately $34,000. Finally, McGlone Suttner Wealth Management Inc. purchased a new stake in shares of Matador Resources in the fourth quarter valued at approximately $35,000. 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.