BMO Capital Markets Forecasts Strong Price Appreciation for Matador Resources (NYSE:MTDR) Stock

Key Points

• BMO Capital Markets raised its price target on Matador Resources to $72 from $65 and kept an "outperform" rating, implying roughly a 13.8% upside from the prior close.
• Analyst coverage is broadly positive with 11 Buys and 5 Holds, giving a consensus rating of "Moderate Buy" and a consensus target price of $63.36.
• Matador beat quarterly estimates with EPS of $0.87 (vs. $0.71 expected) and revenue of $848M (vs. $811M), and the stock trades around $63.26 with a P/E of about 10.4 and a $7.86B market cap.

Matador Resources (NYSE:MTDR - Get Free Report) had its price target increased by equities researchers at BMO Capital Markets from $65.00 to $72.00 in a report issued on Monday,Benzinga reports. The brokerage currently has an "outperform" rating on the energy company's stock. BMO Capital Markets' price target would indicate a potential upside of 13.82% from the stock's previous close.

A number of other research firms have also recently issued reports on MTDR. Royal Bank Of Canada lowered their price objective on Matador Resources from $62.00 to $60.00 and set an "outperform" rating on the stock in a research report on Tuesday, January 13th. TD Cowen boosted their price target on shares of Matador Resources from $60.00 to $65.00 and gave the company a "buy" rating in a report on Tuesday, March 17th. Morgan Stanley dropped their price objective on shares of Matador Resources from $56.00 to $52.00 and set an "equal weight" rating for the company in a research note on Friday, January 23rd. UBS Group lifted their target price on shares of Matador Resources from $50.00 to $52.00 and gave the company a "neutral" rating in a research report on Thursday, March 5th. Finally, Citigroup upped their target price on shares of Matador Resources from $62.00 to $77.00 and gave the company a "buy" rating in a research note on Tuesday, March 31st. Eleven investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $63.36.

Matador Resources Stock Performance

Shares of MTDR traded up $0.36 during trading hours on Monday, reaching $63.26. 98,702 shares of the company traded hands, compared to its average volume of 1,947,182. 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 stock's fifty day moving average is $53.06 and its 200 day moving average is $46.24. Matador Resources has a 1-year low of $35.19 and a 1-year high of $66.84. The stock has a market cap of $7.86 billion, a P/E ratio of 10.37 and a beta of 0.91.

Matador Resources (NYSE:MTDR - Get Free Report) last released its earnings results on Tuesday, February 24th. The energy company reported $0.87 earnings per share for the quarter, topping analysts' consensus estimates of $0.71 by $0.16. The business had revenue of $847.99 million for the quarter, compared to the consensus estimate of $811.13 million. Matador Resources had a return on equity of 12.36% and a net margin of 20.54%.The firm's revenue for the quarter was down 15.7% compared to the same quarter last year. During the same period last year, the business earned $1.83 earnings per share. Equities research analysts anticipate that Matador Resources will post 8.53 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Matador Resources

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Kestra Investment Management LLC increased its holdings in shares of Matador Resources by 225.2% during the second quarter. Kestra Investment Management LLC now owns 517 shares of the energy company's stock worth $25,000 after buying an additional 358 shares in the last quarter. Rothschild Investment LLC boosted 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 in the last quarter. Measured Wealth Private Client Group LLC bought a new stake in Matador Resources during the 3rd quarter worth approximately $35,000. Gilpin Wealth Management LLC bought a new stake in Matador Resources during the 4th quarter worth approximately $42,000. Finally, Geneos Wealth Management Inc. increased its holdings in Matador Resources by 361.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 881 shares of the energy company's stock valued at $45,000 after purchasing an additional 690 shares in the last quarter. 91.98% of the stock is currently 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.

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