Matador Resources (NYSE:MTDR) Raised 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 note released on Monday morning,Zacks.com reports.

Other equities analysts have also recently issued reports about the company. Morgan Stanley decreased their price target on Matador Resources from $84.00 to $68.00 and set an "equal weight" rating on the stock in a research note on Thursday, March 27th. KeyCorp cut their price objective on Matador Resources from $72.00 to $60.00 and set an "overweight" rating on the stock in a research report on Monday, April 21st. Raymond James Financial cut their price objective on Matador Resources from $77.00 to $67.00 and set an "outperform" rating on the stock in a research report on Monday, March 10th. Stephens cut their price objective on Matador Resources from $90.00 to $86.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 15th. Finally, JPMorgan Chase & Co. cut their price objective on Matador Resources from $65.00 to $61.00 and set an "overweight" rating on the stock in a research report on Thursday, April 10th. Two equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Matador Resources has an average rating of "Moderate Buy" and an average price target of $69.06.

Matador Resources Price Performance

Shares of NYSE MTDR traded down $0.72 during trading hours on Monday, reaching $51.63. 165,543 shares of the stock traded hands, compared to its average volume of 1,685,093. The company has a market capitalization of $6.46 billion, a P/E ratio of 6.94 and a beta of 1.46. The company has a quick ratio of 0.76, a current ratio of 0.79 and a debt-to-equity ratio of 0.56. Matador Resources has a 52-week low of $35.19 and a 52-week high of $66.89. The company's 50-day simple moving average is $46.14 and its two-hundred day simple moving average is $49.93.

Matador Resources (NYSE:MTDR - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The energy company reported $1.99 earnings per share for the quarter, beating analysts' consensus estimates of $1.74 by $0.25. The company had revenue of $1.01 billion for the quarter, compared to analysts' expectations of $980.87 million. Matador Resources had a return on equity of 18.45% and a net margin of 24.97%. Matador Resources's revenue for the quarter was up 28.7% compared to the same quarter last year. During the same period last year, the firm posted $1.71 EPS. Equities research analysts forecast that Matador Resources will post 8.53 EPS for the current 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 repurchase up to 7.8% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company's management believes its stock is undervalued.

Matador Resources Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 6th. Shareholders of record on Friday, May 9th were issued a $0.3125 dividend. This represents a $1.25 annualized dividend and a yield of 2.42%. The ex-dividend date was Friday, May 9th. Matador Resources's dividend payout ratio (DPR) is 16.78%.

Insiders Place Their Bets

In related news, COO Christopher P. Calvert bought 1,500 shares of the company's stock in a transaction on Thursday, May 1st. The shares were acquired at an average cost of $41.13 per share, with a total value of $61,695.00. Following the completion of the acquisition, 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 position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 acquired at an average price of $40.72 per share, with a total value of $40,720.00. Following the purchase, the insider directly owned 291,135 shares of the company's stock, 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. In the last ninety days, insiders purchased 14,850 shares of company stock valued at $601,103. Company insiders own 5.80% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. GAMMA Investing LLC raised its stake in shares of Matador Resources by 42.8% in the first quarter. GAMMA Investing LLC now owns 2,698 shares of the energy company's stock worth $138,000 after purchasing an additional 809 shares during the last quarter. Delphi Management Inc. MA grew its holdings in Matador Resources by 118.6% during the first quarter. Delphi Management Inc. MA now owns 23,302 shares of the energy company's stock valued at $1,190,000 after purchasing an additional 12,642 shares during the period. Retirement Systems of Alabama boosted its stake in shares of Matador Resources by 15.9% in the first quarter. Retirement Systems of Alabama now owns 326,134 shares of the energy company's stock worth $16,662,000 after acquiring an additional 44,641 shares during the period. Boston Trust Walden Corp boosted its stake in shares of Matador Resources by 0.6% in the first quarter. Boston Trust Walden Corp now owns 1,075,611 shares of the energy company's stock worth $54,953,000 after acquiring an additional 6,251 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Matador Resources by 3.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,491,570 shares of the energy company's stock worth $83,916,000 after acquiring an additional 56,644 shares during the period. Hedge funds and other 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.