Matador Resources (NYSE:MTDR) Upgraded to Strong-Buy at TD Cowen

TD Cowen upgraded shares of Matador Resources (NYSE:MTDR - Free Report) to a strong-buy rating in a research report sent to investors on Monday morning,Zacks.com reports.

Several other analysts also recently commented on the company. Stephens reduced their target price on Matador Resources from $90.00 to $86.00 and set an "overweight" rating for the company in a research note on Tuesday, April 15th. 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 report on Friday, April 11th. Bank of America initiated coverage on shares of Matador Resources in a research report on Monday, May 19th. They set a "buy" rating and a $56.00 price target on the stock. UBS Group started coverage on shares of Matador Resources in a research report on Tuesday, April 22nd. They issued a "neutral" rating and a $47.00 price objective for the company. Finally, Mizuho decreased their price objective on shares of Matador Resources from $74.00 to $73.00 and set an "outperform" rating for the company in a research note on Tuesday, May 13th. Two investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Matador Resources presently has an average rating of "Moderate Buy" and an average price target of $69.06.

Matador Resources Trading Up 0.8%

NYSE MTDR traded up $0.42 during mid-day trading on Monday, reaching $52.47. 1,528,675 shares of the stock were exchanged, compared to its average volume of 1,565,924. The stock has a market cap of $6.57 billion, a P/E ratio of 7.04 and a beta of 1.46. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.79 and a quick ratio of 0.76. Matador Resources has a one year low of $35.19 and a one year high of $66.89. The stock has a 50 day simple moving average of $46.84 and a 200-day simple moving average of $49.92.

Matador Resources (NYSE:MTDR - Get Free Report) last posted its quarterly earnings data 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. The firm had revenue of $1.01 billion during the quarter, compared to analyst estimates of $980.87 million. Matador Resources had a return on equity of 18.45% and a net margin of 24.97%. During the same period last year, the company posted $1.71 EPS. The business's quarterly revenue was up 28.7% on a year-over-year basis. On average, analysts anticipate that Matador Resources will post 8.53 EPS for the current year.

Matador Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 6th. Investors of record on Friday, May 9th were paid a $0.3125 dividend. The ex-dividend date of this dividend was Friday, May 9th. This represents a $1.25 annualized dividend and a yield of 2.38%. Matador Resources's payout ratio is 16.78%.

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

Insider Transactions at Matador Resources

In other news, COO Christopher P. Calvert purchased 1,500 shares of the business's stock in a transaction dated Thursday, May 1st. The stock was bought at an average price of $41.13 per share, for a total transaction of $61,695.00. Following the purchase, the chief operating officer owned 36,500 shares of the company's stock, valued at $1,501,245. The trade was a 4.29% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Glenn W. Stetson purchased 1,000 shares of the stock in a transaction dated Monday, April 28th. The stock was acquired at an average cost of $41.53 per share, for a total transaction of $41,530.00. Following the transaction, the executive vice president owned 93,180 shares of the company's stock, valued at approximately $3,869,765.40. This trade represents a 1.08% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 14,850 shares of company stock valued at $601,103. 5.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Matador Resources

A number of hedge funds and other institutional investors have recently bought and sold shares of MTDR. Mitchell & Pahl Private Wealth LLC boosted its holdings in shares of Matador Resources by 11.0% in the second quarter. Mitchell & Pahl Private Wealth LLC now owns 17,724 shares of the energy company's stock worth $846,000 after acquiring an additional 1,756 shares during the period. Wedge Capital Management L L P NC lifted its holdings in Matador Resources by 12.2% during the 2nd quarter. Wedge Capital Management L L P NC now owns 67,737 shares of the energy company's stock worth $3,232,000 after purchasing an additional 7,348 shares in the last quarter. UMB Bank n.a. boosted its stake in Matador Resources by 320.7% in the 2nd quarter. UMB Bank n.a. now owns 2,373 shares of the energy company's stock worth $113,000 after purchasing an additional 1,809 shares during the period. Wealth Enhancement Advisory Services LLC boosted its stake in Matador Resources by 129.9% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 30,920 shares of the energy company's stock worth $1,561,000 after purchasing an additional 17,471 shares during the period. Finally, Sivia Capital Partners LLC purchased a new position in Matador Resources during the 2nd quarter valued at about $255,000. 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.