Matador Resources (NYSE:MTDR) Given New $73.00 Price Target at Mizuho

Matador Resources (NYSE:MTDR - Free Report) had its price target cut by Mizuho from $74.00 to $73.00 in a research report sent to investors on Tuesday,Benzinga reports. They currently have an outperform rating on the energy company's stock.

A number of other research analysts have also commented on MTDR. Truist Financial upped their price target on Matador Resources from $75.00 to $80.00 and gave the company a "buy" rating in a research report on Monday, January 13th. Wells Fargo & Company lowered their price target on Matador Resources from $86.00 to $80.00 and set an "overweight" rating for the company in a research report on Monday, April 28th. Royal Bank of Canada lowered their price target 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. UBS Group began coverage on Matador Resources in a research report on Tuesday, April 22nd. They set a "neutral" rating and a $47.00 price target for the company. Finally, Benchmark reaffirmed a "buy" rating and set a $62.00 price target on shares of Matador Resources in a research report on Friday, January 17th. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $70.33.

Matador Resources Trading Down 0.2%

Shares of NYSE MTDR traded down $0.10 during midday trading on Tuesday, reaching $44.49. The company had a trading volume of 1,064,448 shares, compared to its average volume of 1,629,643. Matador Resources has a one year low of $35.19 and a one year high of $66.89. The company has a quick ratio of 0.84, a current ratio of 0.93 and a debt-to-equity ratio of 0.61. The firm's fifty day moving average price is $44.24 and its 200-day moving average price is $52.37. The stock has a market cap of $5.57 billion, a PE ratio of 6.23 and a beta of 1.47.

Matador Resources (NYSE:MTDR - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The energy company reported $1.99 EPS for the quarter, beating analysts' consensus estimates of $1.74 by $0.25. The business 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 18.52% and a net margin of 25.26%. Matador Resources's quarterly revenue was up 28.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.71 EPS. On average, equities research analysts anticipate that Matador Resources will post 8.53 earnings per share for the current year.

Matador Resources Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 9th will be paid a $0.3125 dividend. The ex-dividend date of this dividend is Friday, May 9th. This represents a $1.25 annualized dividend and a dividend yield of 2.81%. Matador Resources's payout ratio is currently 16.78%.

Matador Resources announced that its board has authorized a stock repurchase 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 a sign that the company's leadership believes its stock is undervalued.

Insider Buying and Selling

In related news, Director Paul W. Harvey purchased 600 shares of the business's stock in a transaction that occurred on Friday, February 21st. The shares were bought at an average price of $55.20 per share, for a total transaction of $33,120.00. Following the purchase, the director now directly owns 27,917 shares of the company's stock, valued at approximately $1,541,018.40. This represents a 2.20% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP William Thomas Elsener bought 750 shares of the business's stock in a transaction 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 completion of the purchase, the executive vice president now owns 111,197 shares in the company, valued at approximately $4,458,999.70. The trade was a 0.68% increase in their position. The disclosure for this purchase can be found here. Insiders have purchased 36,200 shares of company stock worth $1,701,872 in the last 90 days. Insiders own 6.10% of the company's stock.

Institutional Trading of Matador Resources

Several institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in Matador Resources by 7.6% during the 1st quarter. Vanguard Group Inc. now owns 13,511,643 shares of the energy company's stock valued at $690,310,000 after purchasing an additional 956,090 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Matador Resources by 0.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 5,464,857 shares of the energy company's stock valued at $279,192,000 after purchasing an additional 20,134 shares during the last quarter. Alliancebernstein L.P. boosted its stake in shares of Matador Resources by 25.9% in the 4th quarter. Alliancebernstein L.P. now owns 2,698,606 shares of the energy company's stock worth $151,824,000 after buying an additional 555,245 shares during the last quarter. LSV Asset Management boosted its stake in shares of Matador Resources by 50.9% in the 1st quarter. LSV Asset Management now owns 2,289,379 shares of the energy company's stock worth $116,964,000 after buying an additional 772,071 shares during the last quarter. Finally, Wellington Management Group LLP boosted its stake in shares of Matador Resources by 30.5% in the 1st quarter. Wellington Management Group LLP now owns 2,043,715 shares of the energy company's stock worth $104,413,000 after buying an additional 477,236 shares during the last quarter. 91.98% of the stock is currently owned by hedge funds and other institutional investors.

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.