KeyCorp Raises Matador Resources (NYSE:MTDR) Price Target to $76.00

Matador Resources (NYSE:MTDR) had its target price increased by KeyCorp from $71.00 to $76.00 in a research note published on Monday, Benzinga reports. KeyCorp currently has an overweight rating on the energy company’s stock.

A number of other research firms have also recently issued reports on MTDR. Royal Bank of Canada reiterated an outperform rating and issued a $70.00 target price on shares of Matador Resources in a research note on Tuesday, March 5th. StockNews.com upgraded shares of Matador Resources from a sell rating to a hold rating in a research report on Thursday, February 22nd. Mizuho upped their target price on shares of Matador Resources from $67.00 to $76.00 and gave the stock a buy rating in a research report on Monday, April 1st. Truist Financial raised their price target on shares of Matador Resources from $82.00 to $85.00 and gave the company a buy rating in a research note on Friday, April 5th. Finally, Roth Mkm reiterated a buy rating and set a $66.00 price objective on shares of Matador Resources in a research report on Monday, March 25th. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, Matador Resources has an average rating of Moderate Buy and an average target price of $74.10.

Matador Resources Stock Up 0.5 %

MTDR stock opened at $65.60 on Monday. The firm has a market cap of $7.84 billion, a price-to-earnings ratio of 8.97 and a beta of 3.32. Matador Resources has a 1-year low of $42.04 and a 1-year high of $71.08. The firm has a fifty day moving average price of $65.25 and a two-hundred day moving average price of $60.16. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.04 and a quick ratio of 0.98.

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 the consensus estimate of $1.39 by $0.32. The business 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 21.63%. The company’s quarterly revenue was up 40.6% on a year-over-year basis. During the same period in the previous year, the business posted $1.50 EPS. Research analysts predict that Matador Resources will post 7.3 EPS for the current year.

Matador Resources Announces Dividend

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

Institutional Investors Weigh In On Matador Resources

Several large investors have recently modified their holdings of MTDR. Algert Global LLC lifted its position in shares of Matador Resources by 1,500.9% in the third quarter. Algert Global LLC now owns 71,240 shares of the energy company’s stock worth $4,237,000 after purchasing an additional 66,790 shares in the last quarter. Wedge Capital Management L L P NC boosted its stake in shares of Matador Resources by 31.2% during the 4th quarter. Wedge Capital Management L L P NC now owns 92,100 shares of the energy company’s stock valued at $5,237,000 after buying an additional 21,924 shares during the period. Flputnam Investment Management Co. purchased a new position in shares of Matador Resources during the 3rd quarter valued at $204,000. WCM Investment Management LLC grew its holdings in shares of Matador Resources by 10.3% during the 4th quarter. WCM Investment Management LLC now owns 304,568 shares of the energy company’s stock valued at $17,510,000 after acquiring an additional 28,390 shares in the last quarter. Finally, Natixis Advisors L.P. increased its stake in shares of Matador Resources by 85.4% in the third quarter. Natixis Advisors L.P. now owns 134,903 shares of the energy company’s stock worth $8,024,000 after acquiring an additional 62,124 shares during the last quarter. 91.98% of the stock is 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.