Matador Resources Company (NYSE:MTDR) Given Consensus Rating of "Moderate Buy" by Analysts

Key Points

• Matador Resources Company (NYSE:MTDR) has received a consensus rating of "Moderate Buy" from analysts, with an average 12-month price target of $68.00.
• Recent insider activity includes CEO Joseph Wm Foran purchasing 2,500 shares at $39.63 per share, increasing his ownership by 4.29%.
• The company announced a $400 million stock repurchase program, indicating confidence in its valuation, alongside a quarterly dividend of $0.3125 per share.

Shares of Matador Resources Company (NYSE:MTDR - Get Free Report) have been assigned a consensus recommendation of "Moderate Buy" from the fifteen research firms that are presently covering the company, MarketBeat reports. Two research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $68.00.

Several equities analysts have recently weighed in on MTDR shares. Royal Bank Of Canada reduced their target price on shares of Matador Resources from $70.00 to $62.00 and set an "outperform" rating for the company in a research note on Friday, April 11th. Mizuho lowered their target price on shares of Matador Resources from $74.00 to $73.00 and set an "outperform" rating on the stock in a report on Tuesday, May 13th. Bank of America began coverage on Matador Resources in a report on Monday, May 19th. They issued a "buy" rating and a $56.00 price target for the company. Stephens reduced their price target on Matador Resources from $90.00 to $86.00 and set an "overweight" rating for the company in a research report on Tuesday, April 15th. Finally, Wells Fargo & Company decreased their price objective on Matador Resources from $80.00 to $74.00 and set an "overweight" rating on the stock in a research note on Monday, June 16th.

Insider Buying and Selling at Matador Resources

In other Matador Resources news, CEO Joseph Wm Foran purchased 2,500 shares of the stock in a transaction dated Wednesday, May 7th. The stock was purchased at an average price of $39.63 per share, with a total value of $99,075.00. Following the transaction, the chief executive officer owned 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 5.80% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of MTDR. LSV Asset Management raised its stake in shares of 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 acquiring an additional 1,098,108 shares in the last quarter. Adage Capital Partners GP L.L.C. raised its stake in shares of Matador Resources by 2,002.9% during the 1st quarter. Adage Capital Partners GP L.L.C. now owns 1,051,472 shares of the energy company's stock worth $53,720,000 after acquiring an additional 1,001,472 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Matador Resources by 7.6% during the 1st quarter. Vanguard Group Inc. now owns 13,511,643 shares of the energy company's stock worth $690,310,000 after acquiring an additional 956,090 shares in the last quarter. Nuveen LLC bought a new position in shares of Matador Resources during the 1st quarter worth approximately $35,715,000. Finally, Webs Creek Capital Management LP acquired a new position in Matador Resources during the 4th quarter valued at approximately $37,894,000. Institutional investors own 91.98% of the company's stock.

Matador Resources Stock Performance

Shares of MTDR stock opened at $47.83 on Monday. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.85 and a quick ratio of 0.81. The firm has a 50-day moving average of $49.08 and a 200-day moving average of $48.96. Matador Resources has a one year low of $35.19 and a one year high of $64.04. The company has a market cap of $5.95 billion, a P/E ratio of 7.00 and a beta of 1.49.

Matador Resources (NYSE:MTDR - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The energy company reported $1.53 EPS for the quarter, beating analysts' consensus estimates of $1.29 by $0.24. The company had revenue of $895.31 million during the quarter, compared to the consensus estimate of $892.86 million. Matador Resources had a return on equity of 16.53% and a net margin of 22.57%. Matador Resources's revenue was up 8.2% on a year-over-year basis. During the same period last year, the business posted $2.05 earnings per share. Equities research analysts forecast that Matador Resources will post 8.53 EPS for the current fiscal year.

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

Matador Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 5th. Stockholders of record on Friday, August 15th will be given a $0.3125 dividend. This represents a $1.25 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend is Friday, August 15th. Matador Resources's dividend payout ratio is presently 18.30%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.