Matador Resources (NYSE:MTDR) Hits New 52-Week High on Analyst Upgrade

Matador Resources (NYSE:MTDR - Get Free Report)'s share price reached a new 52-week high during trading on Thursday after JPMorgan Chase & Co. raised their price target on the stock from $76.00 to $77.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Matador Resources traded as high as $70.55 and last traded at $69.86, with a volume of 81458 shares. The stock had previously closed at $70.15.

Several other analysts also recently weighed in on the company. KeyCorp cut their target price on Matador Resources from $76.00 to $71.00 and set an "overweight" rating on the stock in a research note on Thursday, January 11th. Benchmark reduced their price objective on shares of Matador Resources from $71.00 to $62.00 and set a "buy" rating for the company in a report on Thursday, January 25th. Wells Fargo & Company increased their target price on shares of Matador Resources from $73.00 to $76.00 and gave the company an "overweight" rating in a research report on Thursday, March 7th. Roth Mkm restated a "buy" rating and set a $66.00 price target on shares of Matador Resources in a research report on Monday, March 25th. Finally, Mizuho raised 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. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $72.50.

Institutional Investors Weigh In On Matador Resources

Several large investors have recently modified their holdings of the stock. Raymond James Financial Services Advisors Inc. increased its position in shares of Matador Resources by 5.4% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 14,398 shares of the energy company's stock worth $763,000 after acquiring an additional 738 shares in the last quarter. US Bancorp DE boosted its position in Matador Resources by 2.1% during the 1st quarter. US Bancorp DE now owns 11,991 shares of the energy company's stock worth $635,000 after acquiring an additional 246 shares during the period. PNC Financial Services Group Inc. grew its stake in Matador Resources by 28.6% during the 1st quarter. PNC Financial Services Group Inc. now owns 15,155 shares of the energy company's stock valued at $804,000 after acquiring an additional 3,373 shares in the last quarter. MetLife Investment Management LLC increased its holdings in shares of Matador Resources by 53.9% in the 1st quarter. MetLife Investment Management LLC now owns 59,058 shares of the energy company's stock valued at $3,129,000 after purchasing an additional 20,684 shares during the period. Finally, Panagora Asset Management Inc. purchased a new stake in shares of Matador Resources in the first quarter worth approximately $214,000. 91.98% of the stock is owned by institutional investors.

Matador Resources Stock Down 0.8 %

The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.98 and a current ratio of 1.04. The company has a market cap of $8.31 billion, a price-to-earnings ratio of 9.81 and a beta of 3.32. The business's 50 day simple moving average is $62.94 and its 200-day simple moving average is $59.55.

Matador Resources (NYSE:MTDR - Get Free Report) last posted 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). The firm had revenue of $836.13 million for the quarter, compared to analysts' expectations of $842.96 million. Matador Resources had a return on equity of 21.54% and a net margin of 30.14%. The firm's revenue for the quarter was up 18.2% on a year-over-year basis. During the same period last year, the business earned $2.08 earnings per share. Sell-side analysts expect that Matador Resources will post 6.88 earnings per share for the current year.

Matador Resources Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 13th. Shareholders of record on Friday, February 23rd were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.15%. The ex-dividend date was Thursday, February 22nd. Matador Resources's dividend payout ratio (DPR) is presently 11.35%.

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.