UBS Group Begins Coverage on Matador Resources (NYSE:MTDR)

UBS Group started coverage on shares of Matador Resources (NYSE:MTDR) in a report issued on Tuesday, Marketbeat.com reports. The brokerage set a “neutral” rating and a $47.00 price target on the energy company’s stock. UBS Group’s price target points to a potential upside of 15.14% from the stock’s previous close.

MTDR has been the subject of a number of other research reports. Wolfe Research raised shares of Matador Resources from a “peer perform” rating to an “outperform” rating and set a $72.00 price objective for the company in a research report on Friday, January 3rd. Morgan Stanley reduced their price target on Matador Resources from $84.00 to $68.00 and set an “equal weight” rating for the company in a research report on Thursday, March 27th. Benchmark reaffirmed a “buy” rating and set a $62.00 price objective on shares of Matador Resources in a research report on Friday, January 17th. Stephens reduced their target price on shares of Matador Resources from $90.00 to $86.00 and set an “overweight” rating for the company in a report on Tuesday, April 15th. Finally, Raymond James decreased their target price on shares of Matador Resources from $77.00 to $67.00 and set an “outperform” rating on the stock in a research note on Monday, March 10th. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $70.73.

Matador Resources Stock Down 0.5 %

Matador Resources stock opened at $40.82 on Tuesday. Matador Resources has a one year low of $35.19 and a one year high of $67.51. The stock has a fifty day moving average of $47.23 and a 200 day moving average of $53.55. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.84 and a current ratio of 0.93. The stock has a market cap of $5.11 billion, a PE ratio of 5.72 and a beta of 2.74.

Matador Resources (NYSE:MTDR) last released its quarterly earnings results on Tuesday, February 18th. The energy company reported $1.83 EPS for the quarter, missing the consensus estimate of $1.88 by ($0.05). The business had revenue of $970.37 million for the quarter, compared to analysts’ expectations of $967.10 million. Matador Resources had a net margin of 25.26% and a return on equity of 18.52%. As a group, sell-side analysts predict that Matador Resources will post 8.53 EPS for the current year.

Matador Resources announced that its Board of Directors has initiated a stock buyback program on Wednesday, April 23rd that permits the company to buyback $400.00 million in outstanding shares. This buyback authorization permits the energy company to purchase up to 7.8% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity at Matador Resources

In related news, Director Paul W. Harvey bought 600 shares of the company’s stock in a transaction dated Friday, February 21st. The stock was purchased at an average price of $55.20 per share, for a total transaction of $33,120.00. Following the acquisition, the director now owns 27,917 shares in the company, valued at $1,541,018.40. This trade represents a 2.20 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Joseph Wm Foran purchased 6,000 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The shares were bought at an average price of $53.94 per share, for a total transaction of $323,640.00. Following the acquisition, the chief executive officer now directly owns 39,379 shares in the company, valued at $2,124,103.26. This trade represents a 17.98 % increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 21,350 shares of company stock valued at $1,100,769. 6.10% of the stock is owned by corporate insiders.

Institutional Trading of Matador Resources

Institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in Matador Resources by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 12,555,553 shares of the energy company’s stock valued at $706,375,000 after buying an additional 187,633 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Matador Resources by 0.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 5,444,723 shares of the energy company’s stock valued at $306,313,000 after acquiring an additional 30,184 shares in the last quarter. Alliancebernstein L.P. boosted its holdings in shares of Matador Resources by 25.9% in the fourth quarter. Alliancebernstein L.P. now owns 2,698,606 shares of the energy company’s stock valued at $151,824,000 after purchasing an additional 555,245 shares during the period. Massachusetts Financial Services Co. MA grew its stake in Matador Resources by 18.4% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,669,957 shares of the energy company’s stock worth $93,952,000 after purchasing an additional 258,958 shares in the last quarter. Finally, LSV Asset Management increased its holdings in Matador Resources by 262.0% during the 4th quarter. LSV Asset Management now owns 1,517,308 shares of the energy company’s stock worth $85,364,000 after purchasing an additional 1,098,108 shares during the period. 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.