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

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

MTDR has been the subject of several other reports. Roth Mkm reissued a buy rating and set a $66.00 price objective on shares of Matador Resources in a 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 report on Tuesday, March 5th. Raymond James decreased their price objective on shares of Matador Resources from $76.00 to $70.00 and set an outperform rating for the company in a report on Monday, January 8th. Wells Fargo & Company raised their price target on shares of Matador Resources from $76.00 to $85.00 and gave the stock an overweight rating in a research report on Thursday, April 18th. Finally, Truist Financial raised their price target on shares of Matador Resources from $82.00 to $85.00 and gave the stock a buy rating in a research report on Friday, April 5th. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, Matador Resources currently has a consensus rating of Moderate Buy and an average target price of $74.30.

Matador Resources Trading Up 0.0 %

NYSE MTDR opened at $65.60 on Tuesday. 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 current ratio of 0.89 and a quick ratio of 0.98. Matador Resources has a 12 month low of $42.04 and a 12 month high of $71.08. The company’s fifty day moving average price is $65.38 and its two-hundred day moving average price is $60.20.

Matador Resources (NYSE:MTDR) last announced its quarterly earnings data on Tuesday, April 23rd. The energy company reported $1.71 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.32. The company had revenue of $787.70 million during the quarter, compared to analyst estimates of $740.99 million. Matador Resources had a net margin of 28.89% and a return on equity of 20.62%. The firm’s revenue for the quarter was up 40.6% compared to the same quarter last year. During the same period last year, the business earned $1.50 EPS. As a group, research analysts predict that Matador Resources will post 7.3 earnings per share 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 $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 presently 10.96%.

Institutional Trading of Matador Resources

Several hedge funds have recently bought and sold shares of MTDR. Parkside Financial Bank & Trust lifted its position in Matador Resources by 82.0% in the 3rd quarter. Parkside Financial Bank & Trust now owns 444 shares of the energy company’s stock valued at $26,000 after purchasing an additional 200 shares during the last quarter. Oakworth Capital Inc. bought a new stake in Matador Resources in the 4th quarter valued at about $31,000. Financial Management Professionals Inc. bought a new stake in Matador Resources in the 4th quarter valued at about $34,000. Rise Advisors LLC bought a new stake in Matador Resources in the 1st quarter valued at about $34,000. Finally, McGlone Suttner Wealth Management Inc. bought a new stake in Matador Resources in the 4th quarter valued at about $35,000. 91.98% of the stock is currently owned by institutional investors.

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.