UBS Group Issues Positive Forecast for Matador Resources (NYSE:MTDR) Stock Price

Matador Resources (NYSE:MTDR - Free Report) had its price target upped by UBS Group from $46.00 to $48.00 in a research report report published on Thursday,Benzinga reports. UBS Group currently has a neutral rating on the energy company's stock.

A number of other analysts have also issued reports on MTDR. Royal Bank Of Canada lowered 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. Morgan Stanley lowered their target price on shares of Matador Resources from $84.00 to $68.00 and set an "equal weight" rating for the company in a research note on Thursday, March 27th. Wells Fargo & Company lowered their target price on shares of Matador Resources from $80.00 to $74.00 and set an "overweight" rating for the company in a research note on Monday, June 16th. Stephens lowered their target price on shares of Matador Resources from $90.00 to $86.00 and set an "overweight" rating for the company in a research note on Tuesday, April 15th. Finally, Bank of America initiated coverage on shares of Matador Resources in a research note on Monday, May 19th. They set a "buy" rating and a $56.00 target price for the company. Two equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $69.13.

Matador Resources Stock Performance

NYSE MTDR traded down $0.43 on Thursday, reaching $51.33. 1,933,233 shares of the stock were exchanged, compared to its average volume of 1,567,874. The firm has a market capitalization of $6.43 billion, a PE ratio of 6.89 and a beta of 1.46. The company has a current ratio of 0.79, a quick ratio of 0.76 and a debt-to-equity ratio of 0.56. Matador Resources has a one year low of $35.19 and a one year high of $64.26. The company's 50-day simple moving average is $47.85 and its two-hundred day simple moving average is $49.69.

Matador Resources (NYSE:MTDR - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The energy company reported $1.99 earnings per share for the quarter, topping the consensus estimate of $1.74 by $0.25. Matador Resources had a net margin of 24.97% and a return on equity of 18.45%. The company had revenue of $1.01 billion for the quarter, compared to analysts' expectations of $980.87 million. During the same quarter in the previous year, the business posted $1.71 earnings per share. Matador Resources's quarterly revenue was up 28.7% on a year-over-year basis. Analysts expect that Matador Resources will post 8.53 EPS for the current fiscal year.

Matador Resources announced that its board has approved a stock buyback program on Wednesday, April 23rd that authorizes the company to repurchase $400.00 million in outstanding shares. This repurchase authorization authorizes the energy company to reacquire up to 7.8% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's management believes its stock is undervalued.

Matador Resources Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 5th. Investors of record on Friday, August 15th will be given a $0.3125 dividend. The ex-dividend date is Friday, August 15th. This represents a $1.25 dividend on an annualized basis and a yield of 2.44%. Matador Resources's dividend payout ratio is currently 16.78%.

Insiders Place Their Bets

In other Matador Resources news, EVP Glenn W. Stetson bought 1,000 shares of the firm's stock in a transaction dated Monday, April 28th. The shares were purchased at an average price of $41.53 per share, for a total transaction of $41,530.00. Following the transaction, the executive vice president directly owned 93,180 shares of the company's stock, valued at approximately $3,869,765.40. This represents a 1.08% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Van H. Singleton II bought 1,000 shares of the firm's stock in a transaction dated Thursday, May 1st. The shares were acquired at an average price of $40.72 per share, for a total transaction of $40,720.00. Following the transaction, the insider directly owned 291,135 shares in the company, valued at approximately $11,855,017.20. This represents a 0.34% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 14,850 shares of company stock worth $601,103. Corporate insiders own 5.80% of the company's stock.

Institutional Trading of Matador Resources

Several large investors have recently bought and sold shares of MTDR. Concurrent Investment Advisors LLC raised 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 worth $2,835,000 after acquiring an additional 244 shares during the period. EverSource Wealth Advisors LLC raised its holdings in shares of Matador Resources by 108.5% during the 4th quarter. EverSource Wealth Advisors LLC now owns 492 shares of the energy company's stock worth $28,000 after acquiring an additional 256 shares during the period. MassMutual Private Wealth & Trust FSB raised its holdings in shares of Matador Resources by 93.0% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 554 shares of the energy company's stock worth $26,000 after acquiring an additional 267 shares during the period. State of Wyoming raised its holdings in shares of Matador Resources by 11.6% during the 4th quarter. State of Wyoming now owns 2,772 shares of the energy company's stock worth $156,000 after acquiring an additional 288 shares during the period. Finally, State of Michigan Retirement System raised its holdings in shares of Matador Resources by 1.1% during the 1st quarter. State of Michigan Retirement System now owns 27,800 shares of the energy company's stock worth $1,420,000 after acquiring an additional 300 shares during the period. Hedge funds and other 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.