Matador Resources (NYSE:MTDR) Upgraded at TD Cowen

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

A number of other equities research analysts have also commented on the company. Raymond James Financial decreased their price objective on Matador Resources from $77.00 to $67.00 and set an "outperform" rating for the company in a research report on Monday, March 10th. Mizuho decreased their price objective 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. Royal Bank Of Canada decreased their price objective on Matador Resources from $70.00 to $62.00 and set an "outperform" rating for the company in a research report on Friday, April 11th. KeyCorp decreased their price objective on Matador Resources from $72.00 to $60.00 and set an "overweight" rating for the company in a research report on Monday, April 21st. Finally, Morgan Stanley decreased their price objective on Matador Resources from $84.00 to $68.00 and set an "equal weight" rating for the company in a research report on Thursday, March 27th. Two investment 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 stock. Based on data from MarketBeat, Matador Resources presently has a consensus rating of "Moderate Buy" and a consensus price target of $69.06.

Matador Resources Stock Performance

NYSE MTDR traded up $0.74 during trading hours on Monday, hitting $52.09. The company had a trading volume of 1,323,702 shares, compared to its average volume of 1,564,923. The firm has a market cap of $6.52 billion, a P/E ratio of 6.99 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 fifty-two week low of $35.19 and a fifty-two week high of $66.89. The business has a fifty day simple moving average of $46.38 and a 200-day simple moving average of $49.94.

Matador Resources (NYSE:MTDR - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The energy company reported $1.99 earnings per share for the quarter, beating the consensus estimate of $1.74 by $0.25. Matador Resources had a return on equity of 18.45% and a net margin of 24.97%. The business had revenue of $1.01 billion during the quarter, compared to analysts' expectations of $980.87 million. During the same quarter last year, the business posted $1.71 earnings per share. The company's quarterly revenue was up 28.7% on a year-over-year basis. Equities analysts predict 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 was paid on Friday, June 6th. Shareholders of record on Friday, May 9th were issued a $0.3125 dividend. The ex-dividend date was Friday, May 9th. This represents a $1.25 annualized dividend and a yield of 2.40%. Matador Resources's dividend payout ratio is presently 16.78%.

Matador Resources announced that its Board of Directors has authorized a share repurchase program on Wednesday, April 23rd that permits the company to buyback $400.00 million in outstanding shares. This buyback authorization permits the energy company to reacquire up to 7.8% of its stock through open market purchases. Stock buyback programs are often a sign that the company's leadership believes its stock is undervalued.

Insider Buying and Selling at Matador Resources

In other news, EVP William Thomas Elsener acquired 750 shares of Matador Resources stock in a transaction that occurred on Thursday, May 1st. The shares were acquired at an average price of $40.10 per share, for a total transaction of $30,075.00. Following the transaction, the executive vice president directly owned 111,197 shares of the company's stock, valued at approximately $4,458,999.70. The trade was a 0.68% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Glenn W. Stetson purchased 1,000 shares of Matador Resources stock in a transaction on Monday, April 28th. The stock was bought 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 in the company, valued at approximately $3,869,765.40. The trade was a 1.08% increase in their position. The disclosure for this purchase can be found here. Insiders have purchased a total of 14,850 shares of company stock worth $601,103 over the last three months. 5.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Matador Resources

Institutional investors have recently made changes to their positions in the stock. US Bancorp DE lifted its stake in shares of Matador Resources by 9.7% in the 4th quarter. US Bancorp DE now owns 14,457 shares of the energy company's stock valued at $813,000 after purchasing an additional 1,283 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Matador Resources by 3.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,491,570 shares of the energy company's stock valued at $83,916,000 after purchasing an additional 56,644 shares during the period. Atria Investments Inc raised its stake in Matador Resources by 3.1% during the 4th quarter. Atria Investments Inc now owns 8,188 shares of the energy company's stock worth $461,000 after buying an additional 249 shares during the period. M&T Bank Corp raised its stake in Matador Resources by 7.7% during the 4th quarter. M&T Bank Corp now owns 11,234 shares of the energy company's stock worth $632,000 after buying an additional 808 shares during the period. Finally, Proficio Capital Partners LLC acquired a new position in Matador Resources during the 4th quarter worth approximately $5,085,000. 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.