Matador Resources (NYSE:MTDR – Get Rating) had its target price reduced by Raymond James from $70.00 to $60.00 in a research note published on Monday, The Fly reports. Raymond James currently has an outperform rating on the energy company's stock.
MTDR has been the subject of several other research reports. MKM Partners restated a buy rating and issued a $68.00 price target on shares of Matador Resources in a report on Wednesday, September 21st. KeyCorp started coverage on Matador Resources in a report on Monday, September 19th. They issued an overweight rating and a $72.00 price target for the company. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus target price of $62.22.
Get Matador Resources alerts:Matador Resources Trading Up 7.0 %
Matador Resources stock opened at $48.91 on Monday. The stock has a market cap of $5.78 billion, a PE ratio of 5.62 and a beta of 3.64. The stock has a 50-day moving average price of $56.42 and a 200 day moving average price of $54.17. Matador Resources has a 52 week low of $33.49 and a 52 week high of $67.78. The company has a current ratio of 1.31, a quick ratio of 1.29 and a debt-to-equity ratio of 0.48.
Matador Resources (NYSE:MTDR – Get Rating) last posted its quarterly earnings results on Tuesday, July 26th. The energy company reported $3.47 EPS for the quarter, beating the consensus estimate of $3.16 by $0.31. The company had revenue of $943.93 million during the quarter, compared to analysts' expectations of $829.21 million. Matador Resources had a return on equity of 43.58% and a net margin of 40.86%. During the same quarter in the previous year, the business earned $1.02 EPS. Equities research analysts predict that Matador Resources will post 11.16 earnings per share for the current fiscal year.Matador Resources Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, September 1st. Investors of record on Wednesday, August 17th were given a dividend of $0.10 per share. The ex-dividend date was Tuesday, August 16th. This is a positive change from Matador Resources's previous quarterly dividend of $0.05. This represents a $0.40 annualized dividend and a yield of 0.82%. Matador Resources's payout ratio is 4.59%.
Hedge Funds Weigh In On Matador Resources
Several hedge funds and other institutional investors have recently bought and sold shares of MTDR. BlackRock Inc. boosted its stake in shares of Matador Resources by 5.2% during the 1st quarter. BlackRock Inc. now owns 17,970,538 shares of the energy company's stock valued at $952,080,000 after buying an additional 884,810 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Matador Resources by 4.8% during the 1st quarter. Vanguard Group Inc. now owns 12,422,915 shares of the energy company's stock valued at $658,165,000 after buying an additional 567,557 shares during the last quarter. State Street Corp boosted its stake in shares of Matador Resources by 7.0% during the 1st quarter. State Street Corp now owns 5,777,669 shares of the energy company's stock valued at $306,101,000 after buying an additional 377,853 shares during the last quarter. Invesco Ltd. boosted its stake in shares of Matador Resources by 82.9% during the 1st quarter. Invesco Ltd. now owns 4,367,715 shares of the energy company's stock valued at $231,403,000 after buying an additional 1,979,904 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of Matador Resources by 3.2% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 4,326,071 shares of the energy company's stock valued at $201,552,000 after buying an additional 135,179 shares during the last quarter. 88.32% of the stock is owned by institutional investors and hedge funds.
About Matador Resources
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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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