Matador Resources (NYSE:MTDR) Shares Up 5.4% – Should You Buy?

Matador Resources Company (NYSE:MTDR) shares shot up 5.4% during trading on Thursday . The stock traded as high as $64.33 and last traded at $64.3510. 954,029 shares were traded during mid-day trading, a decline of 51% from the average session volume of 1,928,969 shares. The stock had previously closed at $61.05.

Analyst Ratings Changes

MTDR has been the subject of a number of analyst reports. Truist Financial initiated coverage on Matador Resources in a research report on Tuesday. They set a “hold” rating and a $60.00 price target for the company. Citigroup upped their price objective on shares of Matador Resources from $53.00 to $62.00 and gave the stock a “buy” rating in a report on Thursday, March 5th. 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 note on Monday, March 16th. Morgan Stanley dropped 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 report on Friday, January 23rd. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Matador Resources in a research note on Friday, January 9th. Eleven equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $60.29.

Matador Resources Stock Performance

The company has a fifty day moving average price of $50.20 and a two-hundred day moving average price of $45.49. The firm has a market cap of $7.95 billion, a price-to-earnings ratio of 10.49 and a beta of 1.07. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.79 and a quick ratio of 0.75.

Matador Resources (NYSE:MTDR) last issued its quarterly earnings results on Tuesday, February 24th. The energy company reported $0.87 EPS 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 firm had revenue of $847.99 million for the quarter, compared to analysts’ expectations of $811.13 million. During the same period in the previous year, the business earned $1.83 earnings per share. Matador Resources’s revenue for the quarter was down 15.7% compared to the same quarter last year. As a group, equities research analysts expect that Matador Resources Company will post 8.53 EPS for the current year.

Matador Resources Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 10th. Investors of record on Friday, February 27th were paid a dividend of $0.375 per share. The ex-dividend date of this dividend was Friday, February 27th. This represents a $1.50 annualized dividend and a yield of 2.3%. Matador Resources’s dividend payout ratio is currently 24.59%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Kestra Investment Management LLC increased its holdings in shares of Matador Resources by 225.2% in the second quarter. Kestra Investment Management LLC now owns 517 shares of the energy company’s stock valued at $25,000 after buying an additional 358 shares in the last quarter. Rothschild Investment LLC grew its holdings in shares of Matador Resources by 5,927.3% in the 3rd quarter. Rothschild Investment LLC now owns 663 shares of the energy company’s stock worth $30,000 after acquiring an additional 652 shares during the last quarter. Measured Wealth Private Client Group LLC acquired a new stake in shares of Matador Resources during the third quarter worth $35,000. Geneos Wealth Management Inc. raised its position in shares of Matador Resources by 361.3% during the first quarter. Geneos Wealth Management Inc. now owns 881 shares of the energy company’s stock worth $45,000 after purchasing an additional 690 shares during the period. Finally, Gilpin Wealth Management LLC purchased a new stake in shares of Matador Resources during the fourth quarter valued at $42,000. 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.