Matador Resources (NYSE:MTDR) Now Covered by Bank of America

Bank of America began coverage on shares of Matador Resources (NYSE:MTDR) in a research note issued to investors on Monday morning, MarketBeat Ratings reports. The brokerage issued a buy rating and a $56.00 price objective on the energy company’s stock.

Other analysts have also issued reports about the company. Morgan Stanley decreased their price objective on Matador Resources from $84.00 to $68.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 27th. Wells Fargo & Company decreased their price objective on Matador Resources from $86.00 to $80.00 and set an “overweight” rating on the stock in a research note on Monday, April 28th. Raymond James decreased their price objective on Matador Resources from $77.00 to $67.00 and set an “outperform” rating on the stock in a research note on Monday, March 10th. UBS Group initiated coverage on Matador Resources in a research note on Tuesday, April 22nd. They set a “neutral” rating and a $47.00 price objective on the stock. Finally, KeyCorp decreased their price objective on Matador Resources from $72.00 to $60.00 and set an “overweight” rating on the stock in a research note on Monday, April 21st. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Matador Resources presently has an average rating of “Moderate Buy” and a consensus target price of $69.44.

Matador Resources Stock Performance

NYSE:MTDR opened at $44.26 on Monday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.93 and a quick ratio of 0.84. The business has a fifty day simple moving average of $44.16 and a two-hundred day simple moving average of $52.32. Matador Resources has a 1 year low of $35.19 and a 1 year high of $66.89. The company has a market capitalization of $5.54 billion, a P/E ratio of 6.20 and a beta of 1.47.

Matador Resources (NYSE:MTDR) last released its earnings results on Wednesday, April 23rd. The energy company reported $1.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.74 by $0.25. Matador Resources had a return on equity of 18.52% and a net margin of 25.26%. The business had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $980.87 million. During the same period last year, the business posted $1.71 earnings per share. The business’s revenue for the quarter was up 28.7% on a year-over-year basis. On average, analysts expect that Matador Resources will post 8.53 earnings per share 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 shares. This buyback authorization permits the energy company to reacquire up to 7.8% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

Matador Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 9th will be given a dividend of $0.3125 per share. This represents a $1.25 annualized dividend and a yield of 2.82%. The ex-dividend date is Friday, May 9th. Matador Resources’s payout ratio is 16.78%.

Insiders Place Their Bets

In other news, COO Christopher P. Calvert purchased 1,300 shares of the company’s stock in a transaction on Friday, February 21st. The stock was purchased at an average price of $55.17 per share, with a total value of $71,721.00. Following the completion of the purchase, the chief operating officer now directly owns 34,000 shares in the company, valued at approximately $1,875,780. This trade represents a 3.98% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Glenn W. Stetson purchased 1,000 shares of the company’s stock in a transaction on Friday, February 21st. The shares were purchased at an average cost of $53.06 per share, with a total value of $53,060.00. Following the purchase, the executive vice president now owns 91,680 shares of the company’s stock, valued at approximately $4,864,540.80. The trade was a 1.10% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought a total of 36,200 shares of company stock valued at $1,701,872 over the last 90 days. Insiders own 6.10% of the company’s stock.

Institutional Investors Weigh In On Matador Resources

Hedge funds have recently added to or reduced their stakes in the company. Barclays PLC lifted its stake in shares of Matador Resources by 16.1% in the 3rd quarter. Barclays PLC now owns 190,035 shares of the energy company’s stock valued at $9,391,000 after acquiring an additional 26,289 shares during the last quarter. Park Avenue Securities LLC lifted its stake in shares of Matador Resources by 35.1% in the 4th quarter. Park Avenue Securities LLC now owns 8,118 shares of the energy company’s stock valued at $457,000 after acquiring an additional 2,108 shares during the last quarter. Merit Financial Group LLC bought a new stake in shares of Matador Resources in the 4th quarter valued at about $251,000. UMB Bank n.a. lifted its stake in shares of Matador Resources by 109.1% in the 4th quarter. UMB Bank n.a. now owns 945 shares of the energy company’s stock valued at $53,000 after acquiring an additional 493 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB lifted its stake in shares of Matador Resources by 68.3% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 510 shares of the energy company’s stock valued at $29,000 after acquiring an additional 207 shares during the last quarter. Institutional investors own 91.98% of the company’s stock.

Matador Resources Company Profile

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.