Truist Financial Increases Matador Resources (NYSE:MTDR) Price Target to $87.00

Matador Resources (NYSE:MTDR) had its price objective increased by Truist Financial from $85.00 to $87.00 in a research report sent to investors on Friday morning, Benzinga reports. Truist Financial currently has a buy rating on the energy company’s stock.

Other equities research analysts have also recently issued research reports about the stock. JPMorgan Chase & Co. increased their price target 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. Raymond James cut their price target on shares of Matador Resources from $76.00 to $70.00 and set an outperform rating on the stock in a report on Monday, January 8th. Benchmark cut their price target on shares of Matador Resources from $71.00 to $62.00 and set a buy rating on the stock in a report on Tuesday. TD Cowen lifted their target price on shares of Matador Resources from $64.00 to $72.00 and gave the stock an outperform rating in a research report on Monday, March 4th. Finally, Wells Fargo & Company increased their price target on Matador Resources from $76.00 to $85.00 and gave the company an overweight rating in a report on Thursday, April 18th. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and an average target price of $74.30.

Matador Resources Price Performance

Shares of NYSE MTDR opened at $65.61 on Friday. Matador Resources has a fifty-two week low of $42.04 and a fifty-two week high of $71.08. The company has a 50 day simple moving average of $65.38 and a two-hundred day simple moving average of $60.20. The company has a market capitalization of $7.84 billion, a price-to-earnings ratio of 8.99 and a beta of 3.32. 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 posted its quarterly 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. Matador Resources had a net margin of 28.89% and a return on equity of 20.62%. The firm had revenue of $787.70 million for the quarter, compared to analysts’ expectations of $740.99 million. During the same quarter in the prior year, the company posted $1.50 earnings per share. The business’s revenue for the quarter was up 40.6% on a year-over-year basis. Analysts expect that Matador Resources will post 7.4 EPS for the current fiscal year.

Matador Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 17th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date is Thursday, May 16th. Matador Resources’s dividend payout ratio (DPR) is presently 10.96%.

Institutional Trading of Matador Resources

Hedge funds have recently bought and sold shares of the company. Parkside Financial Bank & Trust increased its position in 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 acquiring an additional 200 shares during the last quarter. Rise Advisors LLC purchased a new stake in Matador Resources in the first quarter worth about $34,000. Oakworth Capital Inc. purchased a new stake in Matador Resources in the fourth quarter worth about $31,000. Lindbrook Capital LLC increased its position in Matador Resources by 84.3% in the first quarter. Lindbrook Capital LLC now owns 597 shares of the energy company’s stock worth $40,000 after buying an additional 273 shares in the last quarter. Finally, Financial Management Professionals Inc. purchased a new stake in Matador Resources in the fourth quarter worth about $34,000. Hedge funds and other 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.