Matador Resources (NYSE:MTDR) Receives Average Rating of “Moderate Buy” from Analysts

Matador Resources (NYSE:MTDR) has been assigned a consensus recommendation of “Moderate Buy” from the sixteen brokerages that are currently covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and fourteen have given a buy recommendation to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $69.44.

MTDR has been the topic of several research reports. UBS Group initiated coverage on Matador Resources in a research report on Tuesday, April 22nd. They issued a “neutral” rating and a $47.00 target price on the stock. Royal Bank of Canada decreased their target price on Matador Resources from $70.00 to $62.00 and set an “outperform” rating on the stock in a research report on Friday, April 11th. Wells Fargo & Company decreased their target price on Matador Resources from $86.00 to $80.00 and set an “overweight” rating on the stock in a research report on Monday, April 28th. Mizuho decreased their target price on Matador Resources from $74.00 to $73.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 13th. Finally, Bank of America initiated coverage on Matador Resources in a research report on Monday. They issued a “buy” rating and a $56.00 target price on the stock.

Insiders Place Their Bets

In other Matador Resources news, CEO Joseph Wm Foran bought 2,500 shares of the business’s stock in a transaction on Wednesday, May 7th. The stock was purchased at an average cost of $39.63 per share, for a total transaction of $99,075.00. Following the completion of the purchase, the chief executive officer now directly owns 60,756 shares of the company’s stock, valued at approximately $2,407,760.28. This trade represents a 4.29% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Robert T. Macalik bought 1,200 shares of the business’s stock in a transaction on Wednesday, March 5th. The shares were acquired at an average price of $47.98 per share, with a total value of $57,576.00. Following the completion of the purchase, the chief accounting officer now directly owns 31,000 shares of the company’s stock, valued at approximately $1,487,380. The trade was a 4.03% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired 36,200 shares of company stock worth $1,701,872 over the last three months. Insiders own 6.10% of the company’s stock.

Institutional Investors Weigh In On Matador Resources

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC lifted its stake in Matador Resources by 16.9% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 139,254 shares of the energy company’s stock worth $8,088,000 after purchasing an additional 20,172 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Matador Resources by 3.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,491,570 shares of the energy company’s stock valued at $83,916,000 after acquiring an additional 56,644 shares during the last quarter. Envestnet Asset Management Inc. lifted its stake in shares of Matador Resources by 49.7% in the 4th quarter. Envestnet Asset Management Inc. now owns 300,301 shares of the energy company’s stock valued at $16,895,000 after acquiring an additional 99,711 shares during the last quarter. Shaker Investments LLC OH bought a new position in shares of Matador Resources in the 4th quarter valued at $546,000. Finally, Fisher Asset Management LLC lifted its stake in shares of Matador Resources by 23.0% in the 4th quarter. Fisher Asset Management LLC now owns 785,610 shares of the energy company’s stock valued at $44,198,000 after acquiring an additional 146,922 shares during the last quarter. 91.98% of the stock is currently owned by institutional investors.

Matador Resources Price Performance

Shares of NYSE MTDR opened at $44.25 on Wednesday. The business’s 50 day moving average price is $44.10 and its two-hundred day moving average price is $52.27. The company has a market cap of $5.54 billion, a PE ratio of 6.20 and a beta of 1.47. The company has a quick ratio of 0.84, a current ratio of 0.93 and a debt-to-equity ratio of 0.61. Matador Resources has a twelve month low of $35.19 and a twelve month high of $66.89.

Matador Resources (NYSE:MTDR) last announced its quarterly earnings results on Wednesday, April 23rd. The energy company reported $1.99 earnings per share 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 firm had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $980.87 million. During the same quarter in the previous year, the business earned $1.71 earnings per share. The business’s revenue was up 28.7% compared to the same quarter last year. On average, analysts predict that Matador Resources will post 8.53 EPS for the current year.

Matador Resources announced that its board has authorized a stock repurchase program on Wednesday, April 23rd that allows the company to buyback $400.00 million in shares. This buyback authorization allows the energy company to repurchase up to 7.8% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board of directors believes its shares are undervalued.

Matador Resources Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 9th will be paid a $0.3125 dividend. This represents a $1.25 annualized dividend and a dividend yield of 2.82%. The ex-dividend date of this dividend is Friday, May 9th. Matador Resources’s dividend payout ratio (DPR) is currently 16.78%.

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.