Matador Resources (NYSE:MTDR) Price Target Raised to $77.00

Matador Resources (NYSE:MTDR) had its target price upped by analysts at Citigroup from $62.00 to $77.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the energy company’s stock. Citigroup’s price target suggests a potential upside of 21.86% from the company’s previous close.

MTDR has been the subject of a number of other research reports. Wells Fargo & Company raised their target price on shares of Matador Resources from $47.00 to $54.00 and gave the company an “equal weight” rating in a research report on Monday, March 16th. BMO Capital Markets boosted their price target on shares of Matador Resources from $60.00 to $65.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 11th. Truist Financial initiated coverage on shares of Matador Resources in a research note on Tuesday, March 24th. They set a “hold” rating and a $60.00 price objective for the company. Morgan Stanley lowered their target price on Matador Resources from $56.00 to $52.00 and set an “equal weight” rating on the stock in a research report on Friday, January 23rd. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Matador Resources in a report on Friday, January 9th. Eleven research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $61.36.

Matador Resources Stock Down 2.5%

NYSE MTDR traded down $1.65 during trading on Tuesday, hitting $63.19. The stock had a trading volume of 1,701,598 shares, compared to its average volume of 1,962,368. Matador Resources has a 12 month low of $35.19 and a 12 month high of $66.84. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.75 and a current ratio of 0.79. The company’s 50-day moving average price is $51.52 and its two-hundred day moving average price is $45.82. The company has a market capitalization of $7.85 billion, a PE ratio of 10.36 and a beta of 1.07.

Matador Resources (NYSE:MTDR) last issued its quarterly earnings results on Tuesday, February 24th. The energy company reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.16. Matador Resources had a net margin of 20.54% and a return on equity of 12.36%. The company had revenue of $847.99 million during the quarter, compared to analysts’ expectations of $811.13 million. During the same period last year, the business earned $1.83 EPS. The business’s quarterly revenue was down 15.7% on a year-over-year basis. As a group, sell-side analysts forecast that Matador Resources will post 8.53 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Vaughan Nelson Investment Management L.P. grew its stake in shares of Matador Resources by 64.3% in the third quarter. Vaughan Nelson Investment Management L.P. now owns 1,100,805 shares of the energy company’s stock valued at $49,459,000 after acquiring an additional 431,010 shares in the last quarter. Thrivent Financial for Lutherans raised its stake in Matador Resources by 3.8% in the 3rd quarter. Thrivent Financial for Lutherans now owns 1,032,602 shares of the energy company’s stock worth $46,395,000 after purchasing an additional 37,889 shares in the last quarter. Aquatic Capital Management LLC boosted its holdings in Matador Resources by 264.8% in the 3rd quarter. Aquatic Capital Management LLC now owns 111,727 shares of the energy company’s stock valued at $5,020,000 after purchasing an additional 81,102 shares during the period. Mitsubishi UFJ Trust & Banking Corp grew its position in shares of Matador Resources by 309.6% during the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 32,010 shares of the energy company’s stock worth $1,438,000 after purchasing an additional 24,195 shares in the last quarter. Finally, Hussman Strategic Advisors Inc. bought a new position in shares of Matador Resources during the third quarter worth approximately $1,887,000. 91.98% of the stock is owned by institutional investors and hedge funds.

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.