Matador Resources (NYSE:MTDR) Given New $78.00 Price Target at Mizuho

Matador Resources (NYSE:MTDR) had its target price hoisted by Mizuho from $76.00 to $78.00 in a research note published on Wednesday morning, Benzinga reports. The firm currently has a buy rating on the energy company’s stock.

Several other research firms have also weighed in on MTDR. Wells Fargo & Company increased their price target on shares of Matador Resources from $76.00 to $85.00 and gave the company an overweight rating in a research report on Thursday, April 18th. Raymond James reduced their price target on shares of Matador Resources from $76.00 to $70.00 and set an outperform rating for the company in a research report on Monday, January 8th. Benchmark reduced their price target on shares of Matador Resources from $71.00 to $62.00 and set a buy rating for the company in a research report on Tuesday. TD Cowen increased their price target on shares of Matador Resources from $64.00 to $72.00 and gave the company an outperform rating in a research report on Monday, March 4th. Finally, JPMorgan Chase & Co. increased their price target on shares of Matador Resources from $76.00 to $77.00 and gave the company an overweight rating in a research report on Thursday, April 11th. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, Matador Resources currently has an average rating of Moderate Buy and a consensus price target of $74.10.

Matador Resources Stock Performance

MTDR opened at $65.29 on Wednesday. The company has a current ratio of 1.04, a quick ratio of 0.98 and a debt-to-equity ratio of 0.53. The company’s fifty day moving average price is $65.07 and its two-hundred day moving average price is $60.12. Matador Resources has a 1-year low of $42.04 and a 1-year high of $71.08. The company has a market cap of $7.80 billion, a price-to-earnings ratio of 8.94 and a beta of 3.32.

Matador Resources (NYSE:MTDR) last posted its earnings results on Tuesday, April 23rd. The energy company reported $1.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.32. Matador Resources had a net margin of 28.89% and a return on equity of 21.63%. The firm had revenue of $787.70 million during the quarter, compared to analyst estimates of $740.99 million. During the same quarter in the prior year, the business posted $1.50 EPS. The business’s revenue was up 40.6% compared to the same quarter last year. On average, analysts expect that Matador Resources will post 7.3 EPS for the current fiscal year.

Matador Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 17th will be given a $0.20 dividend. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.23%. Matador Resources’s dividend payout ratio (DPR) is currently 10.96%.

Hedge Funds Weigh In On Matador Resources

Large investors have recently modified their holdings of the company. Parkside Financial Bank & Trust boosted its position in shares of Matador Resources by 82.0% in the third 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 during the period. Rise Advisors LLC bought a new position in shares of Matador Resources in the first quarter valued at approximately $34,000. Oakworth Capital Inc. bought a new position in shares of Matador Resources in the fourth quarter valued at approximately $31,000. Financial Management Professionals Inc. bought a new position in shares of Matador Resources in the fourth quarter valued at approximately $34,000. Finally, McGlone Suttner Wealth Management Inc. bought a new stake in Matador Resources during the fourth quarter valued at approximately $35,000. 91.98% of the stock is currently owned by institutional investors.

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.