Matador Resources (NYSE:MTDR) Reaches New 1-Year High – Here’s What Happened

Matador Resources Company (NYSE:MTDR)’s share price hit a new 52-week high during trading on Monday . The stock traded as high as $54.25 and last traded at $53.8560, with a volume of 435177 shares. The stock had previously closed at $51.40.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on MTDR. Citigroup initiated coverage on Matador Resources in a research note on Monday, December 8th. They issued a “buy” rating and a $53.00 target price for the company. Royal Bank Of Canada dropped their target price on shares of Matador Resources from $62.00 to $60.00 and set an “outperform” rating on the stock in a report on Tuesday, January 13th. Morgan Stanley cut their price target on shares of Matador Resources from $56.00 to $52.00 and set an “equal weight” rating on the stock in a research note on Friday, January 23rd. Wells Fargo & Company downgraded shares of Matador Resources from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $61.00 to $47.00 in a research report on Tuesday, January 27th. Finally, Mizuho boosted their price objective on shares of Matador Resources from $67.00 to $70.00 and gave the company an “outperform” rating in a research report on Friday, December 12th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $57.82.

Matador Resources Stock Performance

The firm has a market cap of $6.63 billion, a price-to-earnings ratio of 8.79 and a beta of 1.07. The company has a current ratio of 0.79, a quick ratio of 0.75 and a debt-to-equity ratio of 0.57. The stock’s 50 day moving average is $44.92 and its 200 day moving average is $44.43.

Matador Resources (NYSE:MTDR) last issued its quarterly earnings data on Tuesday, February 24th. The energy company reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.71 by $0.16. The firm had revenue of $847.99 million for the quarter, compared to analyst estimates of $811.13 million. Matador Resources had a return on equity of 12.36% and a net margin of 20.54%.The company’s revenue for the quarter was down 15.7% on a year-over-year basis. During the same period in the prior year, the firm posted $1.83 EPS. Analysts anticipate that Matador Resources Company will post 8.53 earnings per share for the current year.

Matador Resources Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Stockholders of record on Friday, February 27th will be given a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date is Friday, February 27th. Matador Resources’s dividend payout ratio is presently 24.59%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of MTDR. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Matador Resources by 298.5% in the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 534 shares of the energy company’s stock valued at $25,000 after buying an additional 400 shares during the period. Kestra Investment Management LLC increased its stake in shares of Matador Resources by 225.2% in the 2nd quarter. Kestra Investment Management LLC now owns 517 shares of the energy company’s stock valued at $25,000 after purchasing an additional 358 shares during the last quarter. Allworth Financial LP increased its stake in shares of Matador Resources by 182.0% in the 2nd quarter. Allworth Financial LP now owns 564 shares of the energy company’s stock valued at $27,000 after purchasing an additional 364 shares during the last quarter. Rothschild Investment LLC raised its holdings in shares of Matador Resources by 5,927.3% during the 3rd quarter. Rothschild Investment LLC now owns 663 shares of the energy company’s stock worth $30,000 after buying an additional 652 shares in the last quarter. Finally, Measured Wealth Private Client Group LLC acquired a new stake in Matador Resources in the third quarter valued at about $35,000. Institutional investors and hedge funds own 91.98% of the company’s stock.

About Matador Resources

Matador Resources Company is an independent energy firm primarily engaged in the exploration, development and production of oil, natural gas liquids (NGLs) and natural gas. The company focuses on upstream operations, utilizing horizontal drilling and hydraulic fracturing techniques to unlock hydrocarbons from key reservoirs. Its asset base includes both operated and non‐operated positions, with a particular emphasis on the Permian Basin, one of the most prolific oil-producing regions in North America.

Matador’s core operations are concentrated in the Delaware Basin segment of the Permian Basin, where it holds substantial acreage in both Reeves and Culberson counties in West Texas and Eddy and Lea counties in New Mexico.