Matador Resources (NYSE:MTDR) Trading 5.4% Higher - What's Next?

Key Points

• Matador's shares jumped 5.4% intraday to $64.35 on Thursday, with about 954,029 shares traded (roughly 51% below average daily volume).
• The company beat expectations with Q results of $0.87 EPS vs. $0.71 estimated and $848M revenue vs. $811M estimated, but revenue was down 15.7% year-over-year; analysts hold a Moderate Buy consensus with an average price target of $60.29 (11 Buys, 5 Holds).
• Matador pays a quarterly dividend of $0.375 (annualized $1.50, yield ~2.3%) and trades at a P/E of 10.5 with a market cap of $7.95 billion and a debt-to-equity ratio of 0.57.

Matador Resources Company (NYSE:MTDR - Get Free Report)'s share price rose 5.4% during mid-day trading on Thursday . The company traded as high as $64.33 and last traded at $64.3510. Approximately 954,029 shares changed hands during mid-day trading, a decline of 51% from the average daily volume of 1,928,969 shares. The stock had previously closed at $61.05.

Wall Street Analysts Forecast Growth

MTDR has been the subject of a number of research reports. Mizuho lifted their price target on Matador Resources from $67.00 to $70.00 and gave the stock an "outperform" rating in a research note on Friday, December 12th. Royal Bank Of Canada reduced their target price on Matador Resources from $62.00 to $60.00 and set an "outperform" rating on the stock in a report on Tuesday, January 13th. Weiss Ratings reiterated a "hold (c-)" rating on shares of Matador Resources in a research report on Friday, January 9th. Truist Financial initiated coverage on Matador Resources in a research report on Tuesday. They set a "hold" rating and a $60.00 price target on the stock. Finally, Wells Fargo & Company raised their price objective on Matador Resources from $47.00 to $54.00 and gave the stock an "equal weight" rating in a research note on Monday, March 16th. Eleven investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat.com, Matador Resources presently has an average rating of "Moderate Buy" and an average price target of $60.29.

Matador Resources Stock Up 4.7%

The company has a debt-to-equity ratio of 0.57, a current ratio of 0.79 and a quick ratio of 0.75. The stock's fifty day simple moving average is $50.20 and its 200-day simple moving average is $45.49. The stock has a market cap of $7.95 billion, a P/E ratio of 10.49 and a beta of 1.07.

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

Matador Resources Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 10th. Shareholders of record on Friday, February 27th were given a $0.375 dividend. 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 (DPR) is currently 24.59%.

Hedge Funds Weigh In On Matador Resources

Institutional investors have recently modified their holdings of the company. Kestra Investment Management LLC lifted its position in Matador Resources by 225.2% in the 2nd quarter. Kestra Investment Management LLC now owns 517 shares of the energy company's stock valued at $25,000 after purchasing an additional 358 shares during the last quarter. Rothschild Investment LLC increased its stake in shares of Matador Resources by 5,927.3% in the third quarter. Rothschild Investment LLC now owns 663 shares of the energy company's stock valued at $30,000 after purchasing an additional 652 shares during the period. Measured Wealth Private Client Group LLC acquired a new stake in shares of Matador Resources in the third quarter valued at approximately $35,000. Gilpin Wealth Management LLC bought a new stake in shares of Matador Resources during the fourth quarter valued at approximately $42,000. Finally, Geneos Wealth Management Inc. boosted 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 buying an additional 690 shares during the period. Institutional investors own 91.98% of the company's stock.

Matador Resources Company Profile

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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