Matador Resources (NYSE:MTDR) Receives $69.44 Consensus Target Price from Analysts

Shares of Matador Resources (NYSE:MTDR - Get Free Report) have received an average rating of "Moderate Buy" from the sixteen ratings firms that are covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $69.44.

A number of equities analysts have issued reports on the company. Royal Bank of Canada cut their price target on Matador Resources from $70.00 to $62.00 and set an "outperform" rating on the stock in a report on Friday, April 11th. Wells Fargo & Company reduced their price target on shares of Matador Resources from $86.00 to $80.00 and set an "overweight" rating for the company in a report on Monday, April 28th. UBS Group assumed coverage on shares of Matador Resources in a report on Tuesday, April 22nd. They set a "neutral" rating and a $47.00 price objective on the stock. Mizuho decreased their target price on Matador Resources from $74.00 to $73.00 and set an "outperform" rating for the company in a research report on Tuesday, May 13th. Finally, KeyCorp decreased their price objective on Matador Resources from $72.00 to $60.00 and set an "overweight" rating for the company in a report on Monday, April 21st.

Insider Activity

In related news, CEO Joseph Wm Foran bought 2,500 shares of the stock in a transaction that occurred on Wednesday, May 7th. The shares were acquired at an average cost of $39.63 per share, with a total value 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 $2,407,760.28. This trade represents a 4.29% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Van H. Singleton II purchased 1,000 shares of the firm's stock in a transaction dated Thursday, May 1st. The stock was bought at an average cost of $40.72 per share, for a total transaction of $40,720.00. Following the acquisition, the insider now directly owns 291,135 shares in the company, valued at approximately $11,855,017.20. The trade was a 0.34% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought 25,300 shares of company stock worth $1,113,911 in the last three months. Corporate insiders own 6.10% of the company's stock.

Hedge Funds Weigh In On Matador Resources

A number of large investors have recently modified their holdings of the company. TCTC Holdings LLC grew its position in Matador Resources by 53.8% during the fourth quarter. TCTC Holdings LLC now owns 500 shares of the energy company's stock valued at $28,000 after acquiring an additional 175 shares during the last quarter. MassMutual Private Wealth & Trust FSB grew its holdings in shares of Matador Resources by 68.3% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 510 shares of the energy company's stock valued at $29,000 after purchasing an additional 207 shares during the last quarter. Concurrent Investment Advisors LLC grew its holdings in shares of Matador Resources by 0.4% during the 1st quarter. Concurrent Investment Advisors LLC now owns 55,482 shares of the energy company's stock valued at $2,835,000 after purchasing an additional 244 shares during the last quarter. Atria Investments Inc raised its position in Matador Resources by 3.1% in the 4th quarter. Atria Investments Inc now owns 8,188 shares of the energy company's stock worth $461,000 after purchasing an additional 249 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its stake in Matador Resources by 108.5% in the fourth quarter. EverSource Wealth Advisors LLC now owns 492 shares of the energy company's stock worth $28,000 after purchasing an additional 256 shares during the last quarter. 91.98% of the stock is owned by hedge funds and other institutional investors.

Matador Resources Trading Down 0.4%

Shares of MTDR traded down $0.18 during trading hours on Wednesday, hitting $43.42. 1,046,970 shares of the stock were exchanged, compared to its average volume of 1,633,190. Matador Resources has a fifty-two week low of $35.19 and a fifty-two week high of $66.89. The business has a 50-day moving average of $43.54 and a 200-day moving average of $51.92. The firm has a market capitalization of $5.44 billion, a P/E ratio of 6.08 and a beta of 1.47. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.93 and a quick ratio of 0.84.

Matador Resources (NYSE:MTDR - Get Free Report) last issued 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. The firm had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $980.87 million. Matador Resources had a return on equity of 18.52% and a net margin of 25.26%. The business's revenue was up 28.7% compared to the same quarter last year. During the same period last year, the business posted $1.71 EPS. On average, research analysts expect that Matador Resources will post 8.53 EPS for the current year.

Matador Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 9th will be paid a dividend of $0.3125 per share. The ex-dividend date is Friday, May 9th. This represents a $1.25 dividend on an annualized basis and a dividend yield of 2.88%. Matador Resources's payout ratio is 16.78%.

Matador Resources declared that its Board of Directors has approved a stock repurchase plan 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 plans are usually an indication that the company's management believes its shares are undervalued.

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.