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Matador Resources (NYSE:MTDR) Given New $60.00 Price Target at Raymond James

Defense World ·  {{timeTz}}

Matador Resources (NYSE:MTDR – Get Rating) had its target price cut by Raymond James from $70.00 to $60.00 in a report released on Monday, The Fly reports.

A number of other research analysts also recently commented on MTDR. KeyCorp started coverage on shares of Matador Resources in a research report on Monday, September 19th. They set an overweight rating and a $72.00 price objective on the stock. MKM Partners reiterated a buy rating and issued a $68.00 target price on shares of Matador Resources in a research note on Wednesday, September 21st. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat.com, Matador Resources has a consensus rating of Moderate Buy and a consensus target price of $62.22.

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Matador Resources Stock Performance

Shares of MTDR opened at $45.41 on Monday. The company's 50 day moving average price is $56.49 and its 200 day moving average price is $54.27. Matador Resources has a 52 week low of $33.49 and a 52 week high of $67.78. The company has a market capitalization of $5.36 billion, a PE ratio of 5.21 and a beta of 3.64. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.29 and a current ratio of 1.31.

Matador Resources (NYSE:MTDR – Get Rating) last announced its quarterly earnings data on Tuesday, July 26th. The energy company reported $3.47 EPS for the quarter, beating analysts' consensus estimates of $3.16 by $0.31. Matador Resources had a net margin of 40.86% and a return on equity of 43.58%. The firm had revenue of $943.93 million for the quarter, compared to the consensus estimate of $829.21 million. During the same period in the previous year, the firm posted $1.02 earnings per share. Research analysts expect that Matador Resources will post 11.16 EPS for the current fiscal year.

Matador Resources Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 1st. Stockholders of record on Wednesday, August 17th were given a $0.10 dividend. This is an increase from Matador Resources's previous quarterly dividend of $0.05. This represents a $0.40 annualized dividend and a dividend yield of 0.88%. The ex-dividend date of this dividend was Tuesday, August 16th. Matador Resources's dividend payout ratio (DPR) is currently 4.59%.

Institutional Investors Weigh In On Matador Resources

Several hedge funds and other institutional investors have recently made changes to their positions in the business. ExodusPoint Capital Management LP acquired a new stake in shares of Matador Resources in the second quarter valued at about $2,543,000. Goldman Sachs Group Inc. boosted its holdings in Matador Resources by 51.6% during the second quarter. Goldman Sachs Group Inc. now owns 2,013,942 shares of the energy company's stock valued at $93,830,000 after purchasing an additional 685,220 shares in the last quarter. Captrust Financial Advisors boosted its holdings in Matador Resources by 19.9% during the second quarter. Captrust Financial Advisors now owns 60,944 shares of the energy company's stock valued at $2,839,000 after purchasing an additional 10,104 shares in the last quarter. Neo Ivy Capital Management acquired a new stake in Matador Resources during the second quarter valued at approximately $129,000. Finally, CastleArk Alternatives LLC bought a new position in shares of Matador Resources in the second quarter valued at approximately $415,000. 88.32% of the stock is owned by institutional investors and hedge funds.

Matador Resources Company Profile

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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.

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