Mizuho Increases Matador Resources (NYSE:MTDR) Price Target to $78.00

Matador Resources (NYSE:MTDR) had its target price upped by Mizuho from $76.00 to $78.00 in a research report report published on Wednesday, Benzinga reports. They currently have a buy rating on the energy company’s stock.

MTDR has been the topic of several other research reports. Royal Bank of Canada reaffirmed an outperform rating and set a $70.00 price target on shares of Matador Resources in a research report on Tuesday, March 5th. TD Cowen lifted their price target on Matador Resources from $64.00 to $72.00 and gave the stock an outperform rating in a research report on Monday, March 4th. Benchmark cut their price target on Matador Resources from $71.00 to $62.00 and set a buy rating on the stock in a research report on Tuesday, April 23rd. KeyCorp lifted their price target on Matador Resources from $71.00 to $76.00 and gave the stock an overweight rating in a research report on Monday, April 22nd. Finally, Truist Financial lifted their price target on Matador Resources from $82.00 to $85.00 and gave the stock a buy rating in a research report on Friday, April 5th. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $74.30.

Matador Resources Price Performance

MTDR stock opened at $65.61 on Wednesday. The business has a 50 day moving average price of $65.50 and a 200 day moving average price of $60.24. The stock has a market cap of $7.84 billion, a price-to-earnings ratio of 8.99 and a beta of 3.32. Matador Resources has a fifty-two week low of $42.04 and a fifty-two week high of $71.08. The company has a quick ratio of 0.98, a current ratio of 0.89 and a debt-to-equity ratio of 0.43.

Matador Resources (NYSE:MTDR) last posted its earnings results 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 firm had revenue of $787.70 million during the quarter, compared to analysts’ expectations of $740.99 million. Matador Resources had a return on equity of 20.62% and a net margin of 28.89%. The firm’s revenue was up 40.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.50 earnings per share. Equities research analysts anticipate that Matador Resources will post 7.5 earnings per share for the current fiscal year.

Matador Resources Dividend Announcement

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

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Algert Global LLC grew its holdings in Matador Resources by 1,500.9% during the third quarter. Algert Global LLC now owns 71,240 shares of the energy company’s stock worth $4,237,000 after acquiring an additional 66,790 shares during the period. Wedge Capital Management L L P NC grew its holdings in Matador Resources by 31.2% during the fourth quarter. Wedge Capital Management L L P NC now owns 92,100 shares of the energy company’s stock worth $5,237,000 after acquiring an additional 21,924 shares during the period. Flputnam Investment Management Co. acquired a new position in Matador Resources during the third quarter worth $204,000. WCM Investment Management LLC grew its holdings in Matador Resources by 10.3% during the fourth quarter. WCM Investment Management LLC now owns 304,568 shares of the energy company’s stock worth $17,510,000 after acquiring an additional 28,390 shares during the period. Finally, Natixis Advisors L.P. grew its holdings in Matador Resources by 85.4% during 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 period. Institutional investors and hedge funds 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.