Wells Fargo & Company Lowers Matador Resources (NYSE:MTDR) Price Target to $74.00

Matador Resources (NYSE:MTDR - Free Report) had its target price decreased by Wells Fargo & Company from $80.00 to $74.00 in a report released on Monday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the energy company's stock.

A number of other brokerages have also issued reports on MTDR. Royal Bank Of Canada cut their price objective 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. KeyCorp dropped their target price on shares of Matador Resources from $72.00 to $60.00 and set an "overweight" rating for the company in a research report on Monday, April 21st. Morgan Stanley cut 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. JPMorgan Chase & Co. reduced their price target on shares of Matador Resources from $65.00 to $61.00 and set an "overweight" rating on the stock in a report on Thursday, April 10th. Finally, UBS Group began coverage on shares of Matador Resources in a research note on Tuesday, April 22nd. They issued a "neutral" rating and a $47.00 price target on the stock. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $69.06.

Matador Resources Price Performance

MTDR stock traded down $0.21 during trading on Monday, reaching $51.06. The company's stock had a trading volume of 1,502,548 shares, compared to its average volume of 1,622,690. The company has a quick ratio of 0.76, a current ratio of 0.79 and a debt-to-equity ratio of 0.56. The company's fifty day moving average is $43.55 and its 200-day moving average is $50.61. The company has a market capitalization of $6.39 billion, a P/E ratio of 6.85 and a beta of 1.46. Matador Resources has a 1 year low of $35.19 and a 1 year high of $66.89.

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

Matador Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 6th. Shareholders of record on Friday, May 9th were paid a dividend of $0.3125 per share. The ex-dividend date of this dividend was Friday, May 9th. This represents a $1.25 annualized dividend and a yield of 2.45%. Matador Resources's payout ratio is currently 16.78%.

Matador Resources announced that its Board of Directors has initiated a share repurchase plan on Wednesday, April 23rd that authorizes the company to buyback $400.00 million in outstanding shares. This buyback authorization authorizes the energy company to purchase up to 7.8% of its stock through open market purchases. Stock buyback plans are usually an indication that the company's board of directors believes its stock is undervalued.

Insider Activity

In other news, CEO Joseph Wm Foran bought 5,000 shares of the stock in a transaction dated Tuesday, April 29th. The stock was purchased at an average price of $40.86 per share, for a total transaction of $204,300.00. Following the acquisition, the chief executive officer now owns 50,756 shares of the company's stock, valued at $2,073,890.16. The trade was a 10.93% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Christopher P. Calvert purchased 1,500 shares of the business's stock in a transaction that occurred on Thursday, May 1st. The shares were purchased at an average price of $41.13 per share, for a total transaction of $61,695.00. Following the completion of the acquisition, the chief operating officer now directly owns 36,500 shares in the company, valued at $1,501,245. The trade was a 4.29% increase in their position. The disclosure for this purchase can be found here. Insiders purchased 14,850 shares of company stock valued at $601,103 in the last ninety days. Insiders own 5.80% of the company's stock.

Hedge Funds Weigh In On Matador Resources

Large investors have recently bought and sold shares of the business. TCTC Holdings LLC lifted its position in shares of Matador Resources by 53.8% during the fourth quarter. TCTC Holdings LLC now owns 500 shares of the energy company's stock worth $28,000 after purchasing an additional 175 shares during the last quarter. Concurrent Investment Advisors LLC increased its stake in Matador Resources by 0.4% in the 1st quarter. Concurrent Investment Advisors LLC now owns 55,482 shares of the energy company's stock worth $2,835,000 after buying an additional 244 shares during the period. Atria Investments Inc increased its stake in Matador Resources by 3.1% in 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. EverSource Wealth Advisors LLC lifted its holdings in Matador Resources by 108.5% during the 4th quarter. EverSource Wealth Advisors LLC now owns 492 shares of the energy company's stock valued at $28,000 after buying an additional 256 shares in the last quarter. Finally, Arizona State Retirement System boosted its position in Matador Resources by 0.8% in the 4th quarter. Arizona State Retirement System now owns 34,413 shares of the energy company's stock valued at $1,936,000 after buying an additional 280 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.