Wells Fargo & Company Raises Matador Resources (NYSE:MTDR) Price Target to $85.00

Matador Resources (NYSE:MTDR) had its price target boosted by Wells Fargo & Company from $76.00 to $85.00 in a report issued on Thursday, Benzinga reports. They currently have an overweight rating on the energy company’s stock.

A number of other equities research analysts also recently weighed in on the stock. KeyCorp dropped their price target on shares of Matador Resources from $76.00 to $71.00 and set an overweight rating for the company in a research report on Thursday, January 11th. Roth Mkm reissued a buy rating and issued a $66.00 price objective on shares of Matador Resources in a research note on Monday, March 25th. Mizuho lifted their price objective on shares of Matador Resources from $67.00 to $76.00 and gave the company a buy rating in a research note on Monday, April 1st. StockNews.com raised shares of Matador Resources from a sell rating to a hold rating in a research note on Thursday, February 22nd. Finally, Raymond James decreased their price objective on shares of Matador Resources from $76.00 to $70.00 and set an outperform rating on the stock in a research note on Monday, January 8th. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average price target of $73.40.

Matador Resources Stock Down 1.4 %

NYSE MTDR opened at $64.73 on Thursday. The company has a current ratio of 1.04, a quick ratio of 0.98 and a debt-to-equity ratio of 0.53. Matador Resources has a 1-year low of $42.04 and a 1-year high of $71.08. The company has a 50 day moving average of $64.52 and a 200-day moving average of $59.86. The company has a market cap of $7.74 billion, a price-to-earnings ratio of 9.18 and a beta of 3.32.

Matador Resources (NYSE:MTDR) last released its quarterly earnings results on Wednesday, February 21st. The energy company reported $1.99 earnings per share for the quarter, missing analysts’ consensus estimates of $2.04 by ($0.05). Matador Resources had a net margin of 30.14% and a return on equity of 21.54%. The business had revenue of $836.13 million during the quarter, compared to analyst estimates of $842.96 million. During the same quarter in the previous year, the firm posted $2.08 earnings per share. The firm’s quarterly revenue was up 18.2% on a year-over-year basis. On average, equities research analysts expect that Matador Resources will post 7.04 earnings per share for the current fiscal year.

Matador Resources Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 13th. Shareholders of record on Friday, February 23rd were paid a dividend of $0.20 per share. The ex-dividend date was Thursday, February 22nd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.24%. Matador Resources’s payout ratio is presently 11.35%.

Institutional Trading of Matador Resources

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in shares of Matador Resources by 4.8% during the first quarter. Vanguard Group Inc. now owns 12,422,915 shares of the energy company’s stock worth $658,165,000 after buying an additional 567,557 shares during the last quarter. State Street Corp grew its stake in shares of Matador Resources by 7.0% during the first quarter. State Street Corp now owns 5,777,669 shares of the energy company’s stock worth $306,101,000 after buying an additional 377,853 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of Matador Resources by 82.9% during the first quarter. Invesco Ltd. now owns 4,367,715 shares of the energy company’s stock worth $231,403,000 after purchasing an additional 1,979,904 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in shares of Matador Resources by 3.2% during the second quarter. Price T Rowe Associates Inc. MD now owns 4,326,071 shares of the energy company’s stock worth $201,552,000 after purchasing an additional 135,179 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Matador Resources by 2.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,028,782 shares of the energy company’s stock worth $229,083,000 after purchasing an additional 87,299 shares during the period. Institutional investors own 91.98% of the company’s stock.

About Matador Resources

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.