Matador Resources (NYSE:MTDR) Given New $77.00 Price Target at Citigroup

Matador Resources (NYSE:MTDR) had its price objective raised by equities research analysts at Citigroup from $62.00 to $77.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the energy company’s stock. Citigroup’s price objective would suggest a potential upside of 21.86% from the stock’s current price.

A number of other brokerages have also weighed in on MTDR. TD Cowen raised 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. Mizuho upped their price objective on Matador Resources from $67.00 to $70.00 and gave the stock an “outperform” rating in a report on Friday, December 12th. Morgan Stanley lowered their target price on 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. Truist Financial began coverage on Matador Resources in a research report on Tuesday, March 24th. They set a “hold” rating and a $60.00 target price for the company. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Matador Resources in a research note on Friday, January 9th. Eleven analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $61.36.

Matador Resources Price Performance

Shares of NYSE:MTDR traded down $1.65 during midday trading on Tuesday, reaching $63.19. The company’s stock had a trading volume of 1,701,598 shares, compared to its average volume of 1,962,368. The business’s fifty day simple moving average is $51.52 and its 200-day simple moving average is $45.82. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.79 and a quick ratio of 0.75. Matador Resources has a fifty-two week low of $35.19 and a fifty-two week high of $66.84. The company has a market capitalization of $7.85 billion, a P/E ratio of 10.36 and a beta of 1.07.

Matador Resources (NYSE:MTDR) last issued its quarterly earnings data on Tuesday, February 24th. The energy company reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.16. Matador Resources had a net margin of 20.54% and a return on equity of 12.36%. The firm had revenue of $847.99 million for the quarter, compared to analyst estimates of $811.13 million. During the same quarter in the prior year, the firm earned $1.83 EPS. The company’s revenue was down 15.7% on a year-over-year basis. As a group, equities research analysts expect that Matador Resources will post 8.53 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Beacon Pointe Advisors LLC boosted its holdings in shares of Matador Resources by 4.3% in the second quarter. Beacon Pointe Advisors LLC now owns 5,281 shares of the energy company’s stock valued at $252,000 after buying an additional 216 shares during the period. Fiduciary Trust Co raised its holdings in shares of Matador Resources by 2.2% during the third quarter. Fiduciary Trust Co now owns 11,821 shares of the energy company’s stock worth $531,000 after acquiring an additional 253 shares during the period. O Shaughnessy Asset Management LLC lifted its position in Matador Resources by 2.9% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 9,138 shares of the energy company’s stock valued at $388,000 after acquiring an additional 254 shares in the last quarter. Verdence Capital Advisors LLC boosted its stake in Matador Resources by 3.5% in the 4th quarter. Verdence Capital Advisors LLC now owns 8,233 shares of the energy company’s stock worth $349,000 after purchasing an additional 278 shares during the period. Finally, Sivia Capital Partners LLC boosted its stake in Matador Resources by 5.4% in the 3rd quarter. Sivia Capital Partners LLC now owns 5,625 shares of the energy company’s stock worth $253,000 after purchasing an additional 290 shares during the period. Institutional investors own 91.98% of the company’s stock.

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.