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

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

Other analysts also recently issued reports about the stock. Royal Bank of Canada dropped their price objective on shares of Matador Resources from $70.00 to $62.00 and set an "outperform" rating on the stock in a report on Friday, April 11th. Stephens lowered their price target on shares of Matador Resources from $90.00 to $86.00 and set an "overweight" rating on the stock in a report on Tuesday, April 15th. Bank of America assumed coverage on Matador Resources in a research note on Monday, May 19th. They set a "buy" rating and a $56.00 price objective for the company. UBS Group started coverage on Matador Resources in a report on Tuesday, April 22nd. They issued a "neutral" rating and a $47.00 price objective for the company. Finally, Morgan Stanley lowered their target price 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. Two research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $69.06.

Matador Resources Stock Down 2.0%

Matador Resources stock traded down $1.05 during trading hours on Monday, reaching $50.60. The stock had a trading volume of 2,242,076 shares, compared to its average volume of 1,624,116. Matador Resources has a 52 week low of $35.19 and a 52 week high of $66.89. The company has a market cap of $6.33 billion, a price-to-earnings ratio of 7.09 and a beta of 1.46. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.93 and a quick ratio of 0.84. The business's 50 day moving average price is $42.93 and its 200-day moving average price is $50.67.

Matador Resources (NYSE:MTDR - Get Free Report) last posted its 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. Matador Resources had a net margin of 25.26% and a return on equity of 18.52%. The company had revenue of $1.01 billion during the quarter, compared to analysts' expectations of $980.87 million. During the same quarter in the prior year, the company posted $1.71 earnings per share. Matador Resources's revenue for the quarter was up 28.7% compared to the same quarter last year. Sell-side analysts anticipate that Matador Resources will post 8.53 EPS for the current year.

Matador Resources announced that its board has approved a stock buyback plan on Wednesday, April 23rd that authorizes the company to buyback $400.00 million in shares. This buyback authorization authorizes the energy company to purchase up to 7.8% of its shares through open market purchases. Shares buyback plans are often an indication that the company's leadership believes its shares are undervalued.

Matador Resources Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 6th. Stockholders 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 dividend on an annualized basis and a dividend yield of 2.47%. Matador Resources's payout ratio is 16.78%.

Insiders Place Their Bets

In related news, CEO Joseph Wm Foran purchased 5,000 shares of the stock in a transaction dated Tuesday, April 29th. The shares were acquired at an average cost of $40.86 per share, with a total value of $204,300.00. Following the purchase, the chief executive officer now directly owns 50,756 shares in the company, valued at $2,073,890.16. This trade represents a 10.93% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Van H. Singleton II purchased 1,000 shares of the firm's stock in a transaction on Thursday, May 1st. The shares were purchased at an average cost of $40.72 per share, for a total transaction of $40,720.00. Following the completion of the purchase, the insider now directly owns 291,135 shares in the company, valued at $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. 5.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Matador Resources

Several hedge funds and other institutional investors have recently modified their holdings of the company. Strs Ohio bought a new stake in shares of Matador Resources in the first quarter worth $5,881,000. Geneos Wealth Management Inc. boosted its stake in Matador Resources by 361.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 881 shares of the energy company's stock valued at $45,000 after acquiring an additional 690 shares during the last quarter. Integrity Alliance LLC. grew its holdings in Matador Resources by 17.0% during the 1st quarter. Integrity Alliance LLC. now owns 6,552 shares of the energy company's stock worth $335,000 after acquiring an additional 953 shares in the last quarter. Bayforest Capital Ltd grew its holdings in Matador Resources by 35.6% during the 1st quarter. Bayforest Capital Ltd now owns 1,858 shares of the energy company's stock worth $95,000 after acquiring an additional 488 shares in the last quarter. Finally, United Services Automobile Association bought a new stake in shares of Matador Resources in the 1st quarter worth about $383,000. 91.98% of the stock is owned by institutional investors and hedge funds.

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.