Mizuho Raises Matador Resources (NYSE:MTDR) Price Target to $85.00

Matador Resources (NYSE:MTDR) had its price objective increased by Mizuho from $83.00 to $85.00 in a report published on Friday morning, Benzinga reports. Mizuho currently has a buy rating on the energy company’s stock.

Several other brokerages also recently weighed in on MTDR. Royal Bank of Canada restated an outperform rating and issued a $70.00 target price on shares of Matador Resources in a research note on Tuesday, March 5th. StockNews.com raised Matador Resources from a sell rating to a hold rating in a report on Thursday, February 22nd. Roth Mkm restated a buy rating and set a $66.00 price objective on shares of Matador Resources in a report on Monday, March 25th. Wells Fargo & Company lifted their target price on shares of Matador Resources from $76.00 to $85.00 and gave the stock an overweight rating in a research note on Thursday, April 18th. Finally, TD Cowen upped their price target on shares of Matador Resources from $64.00 to $72.00 and gave the company an outperform rating in a research note on Monday, March 4th. 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.com, the stock currently has an average rating of Moderate Buy and an average price target of $75.40.

Matador Resources Stock Performance

NYSE MTDR opened at $55.86 on Friday. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.89 and a quick ratio of 0.84. The stock has a market capitalization of $6.97 billion, a PE ratio of 7.65 and a beta of 3.30. Matador Resources has a 1-year low of $47.76 and a 1-year high of $71.08. The business has a 50 day simple moving average of $63.01 and a two-hundred day simple moving average of $60.55.

Matador Resources (NYSE:MTDR) last released its earnings results on Tuesday, April 23rd. The energy company reported $1.71 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.32. Matador Resources had a return on equity of 20.62% and a net margin of 28.89%. The business had revenue of $787.70 million during the quarter, compared to the consensus estimate of $740.99 million. During the same period last year, the company earned $1.50 earnings per share. The business’s revenue for the quarter was up 40.6% compared to the same quarter last year. On average, research analysts predict that Matador Resources will post 7.53 EPS for the current fiscal year.

Matador Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 7th. Shareholders of record on Friday, May 17th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date of this dividend was Thursday, May 16th. Matador Resources’s dividend payout ratio is presently 10.96%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Van ECK Associates Corp lifted its stake in shares of Matador Resources by 36.5% in the third quarter. Van ECK Associates Corp now owns 23,040 shares of the energy company’s stock worth $1,371,000 after buying an additional 6,156 shares in the last quarter. HighTower Advisors LLC grew its position in shares of Matador Resources by 13.3% in the third quarter. HighTower Advisors LLC now owns 4,835 shares of the energy company’s stock valued at $291,000 after purchasing an additional 569 shares in the last quarter. Campbell & CO Investment Adviser LLC acquired a new stake in shares of Matador Resources in the third quarter valued at approximately $201,000. Loomis Sayles & Co. L P lifted its position in Matador Resources by 1.3% during the third quarter. Loomis Sayles & Co. L P now owns 440,337 shares of the energy company’s stock worth $26,191,000 after buying an additional 5,472 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale acquired a new position in Matador Resources during the third quarter worth $199,000. Hedge funds and other 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.