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

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

MTDR has been the subject of a number of other reports. StockNews.com raised Matador Resources from a sell rating to a hold rating in a research report on Thursday, February 22nd. Benchmark dropped their price target on Matador Resources from $71.00 to $62.00 and set a buy rating for the company in a report on Thursday, January 25th. TD Cowen lifted their price target on Matador Resources from $64.00 to $72.00 and gave the stock an outperform rating in a report on Monday, March 4th. Roth Mkm reissued a buy rating and set a $66.00 price target on shares of Matador Resources in a report on Monday, March 25th. Finally, Mizuho lifted their price target on Matador Resources from $67.00 to $76.00 and gave the stock a buy rating in a report on Monday, April 1st. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, Matador Resources presently has an average rating of Moderate Buy and an average target price of $74.10.

Matador Resources Stock Performance

MTDR opened at $65.29 on Monday. Matador Resources has a 12-month low of $42.04 and a 12-month high of $71.08. The stock has a market cap of $7.80 billion, a price-to-earnings ratio of 9.26 and a beta of 3.32. The business has a 50 day moving average of $65.07 and a 200-day moving average of $60.12. The company has a quick ratio of 0.98, a current ratio of 1.04 and a debt-to-equity ratio of 0.53.

Matador Resources (NYSE:MTDR) last released its quarterly earnings data on Tuesday, April 23rd. The energy company reported $1.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.39 by $0.32. Matador Resources had a return on equity of 21.54% and a net margin of 30.14%. The company had revenue of $787.70 million during the quarter, compared to analysts’ expectations of $740.99 million. During the same period last year, the firm posted $1.50 earnings per share. The business’s revenue was up 40.6% on a year-over-year basis. On average, equities research analysts expect that Matador Resources will post 7.17 earnings per share for the current year.

Matador Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Shareholders of record on Friday, May 17th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $0.80 annualized dividend and a yield of 1.23%. Matador Resources’s dividend payout ratio is presently 11.35%.

Hedge Funds Weigh In On Matador Resources

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MTDR. Parkside Financial Bank & Trust raised its holdings 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 acquiring an additional 200 shares in the last quarter. Oakworth Capital Inc. bought a new position in shares of Matador Resources in the 4th quarter valued at $31,000. Financial Management Professionals Inc. bought a new position in shares of Matador Resources in the 4th quarter valued at $34,000. Rise Advisors LLC bought a new position in shares of Matador Resources in the 1st quarter valued at $34,000. Finally, McGlone Suttner Wealth Management Inc. bought a new position in shares of Matador Resources in the 4th quarter valued at $35,000. 91.98% of the stock is owned by institutional investors and hedge funds.

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.