Analysts Set Matador Resources Company (NYSE:MTDR) Price Target at $69.44

Matador Resources Company (NYSE:MTDR) has earned a consensus rating of “Moderate Buy” from the sixteen analysts that are currently covering the company, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation and fourteen have issued a buy recommendation on the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $69.06.

A number of research firms have recently issued reports on MTDR. KeyCorp lowered their target price on Matador Resources from $72.00 to $60.00 and set an “overweight” rating for the company in a research note on Monday, April 21st. Raymond James Financial cut their price objective on shares of Matador Resources from $77.00 to $67.00 and set an “outperform” rating on the stock in a report on Monday, March 10th. JPMorgan Chase & Co. lowered their price objective on Matador Resources from $65.00 to $61.00 and set an “overweight” rating for the company in a research note on Thursday, April 10th. Stephens dropped their price target on shares of Matador Resources from $90.00 to $86.00 and set an “overweight” rating for the company in a research note on Tuesday, April 15th. Finally, Royal Bank Of Canada decreased 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.

Insiders Place Their Bets

In other news, EVP Glenn W. Stetson bought 1,000 shares of the firm’s stock in a transaction that occurred on Monday, April 28th. The stock was acquired at an average price of $41.53 per share, with a total value of $41,530.00. Following the completion of the purchase, the executive vice president now directly owns 93,180 shares of the company’s stock, valued at $3,869,765.40. This represents a 1.08% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Joseph Wm Foran bought 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, May 7th. The stock was acquired at an average price of $39.63 per share, for a total transaction of $99,075.00. Following the completion of the acquisition, the chief executive officer now directly owns 60,756 shares in the company, valued at approximately $2,407,760.28. This represents a 4.29% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 14,850 shares of company stock worth $601,103. 5.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Matador Resources

Institutional investors and hedge funds have recently modified their holdings of the stock. TCTC Holdings LLC grew its position in Matador Resources by 53.8% during the 4th quarter. TCTC Holdings LLC now owns 500 shares of the energy company’s stock worth $28,000 after purchasing an additional 175 shares in the last quarter. Concurrent Investment Advisors LLC grew its holdings in shares of Matador Resources by 0.4% during the first quarter. Concurrent Investment Advisors LLC now owns 55,482 shares of the energy company’s stock valued at $2,835,000 after buying an additional 244 shares in the last quarter. Atria Investments Inc raised its position in Matador Resources by 3.1% during the fourth quarter. Atria Investments Inc now owns 8,188 shares of the energy company’s stock valued at $461,000 after buying an additional 249 shares during the period. EverSource Wealth Advisors LLC lifted its stake in Matador Resources by 108.5% in the 4th quarter. EverSource Wealth Advisors LLC now owns 492 shares of the energy company’s stock worth $28,000 after acquiring an additional 256 shares in the last quarter. Finally, Arizona State Retirement System boosted its position in Matador Resources by 0.8% during the 4th quarter. Arizona State Retirement System now owns 34,413 shares of the energy company’s stock worth $1,936,000 after acquiring an additional 280 shares during the period. 91.98% of the stock is owned by institutional investors and hedge funds.

Matador Resources Price Performance

MTDR stock opened at $51.25 on Friday. The company has a market cap of $6.42 billion, a PE ratio of 6.88 and a beta of 1.46. The company has a current ratio of 0.79, a quick ratio of 0.76 and a debt-to-equity ratio of 0.56. The stock has a 50-day moving average price of $43.38 and a two-hundred day moving average price of $50.61. Matador Resources has a 12-month low of $35.19 and a 12-month high of $66.89.

Matador Resources (NYSE:MTDR) last announced its quarterly earnings results 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. Matador Resources had a net margin of 24.97% and a return on equity of 18.45%. The firm had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $980.87 million. During the same period in the previous year, the company posted $1.71 earnings per share. Matador Resources’s revenue was up 28.7% compared to the same quarter last year. As a group, research analysts predict that Matador Resources will post 8.53 EPS for the current year.

Matador Resources announced that its Board of Directors has authorized a stock repurchase plan on Wednesday, April 23rd that allows the company to buyback $400.00 million in outstanding shares. This buyback authorization allows the energy company to buy up to 7.8% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Matador Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 6th. Stockholders of record on Friday, May 9th were given a dividend of $0.3125 per share. The ex-dividend date was Friday, May 9th. This represents a $1.25 annualized dividend and a dividend yield of 2.44%. Matador Resources’s dividend payout ratio is presently 16.78%.

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.