Matador Resources (NYSE:MTDR) Now Covered by UBS Group

UBS Group initiated coverage on shares of Matador Resources (NYSE:MTDR - Free Report) in a research note released on Tuesday morning, Marketbeat.com reports. The brokerage issued a neutral rating and a $47.00 target price on the energy company's stock.

Other research analysts have also issued reports about the stock. JPMorgan Chase & Co. cut their target price on shares of Matador Resources from $65.00 to $61.00 and set an "overweight" rating for the company in a research report on Thursday, April 10th. Royal Bank of Canada decreased their price objective on Matador Resources from $70.00 to $62.00 and set an "outperform" rating on the stock in a report on Friday, April 11th. KeyCorp cut 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. Morgan Stanley decreased their price target on shares of 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. Finally, Stephens cut their price objective 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. Two equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $70.73.

Matador Resources Price Performance

Matador Resources stock traded up $0.36 during midday trading on Tuesday, hitting $41.11. 2,037,671 shares of the company's stock were exchanged, compared to its average volume of 1,576,660. The stock has a 50-day moving average price of $46.56 and a two-hundred day moving average price of $53.36. 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 $5.15 billion, a P/E ratio of 5.76 and a beta of 2.74. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.84 and a current ratio of 0.93.

Matador Resources (NYSE:MTDR - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The energy company reported $1.99 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts' expectations of $980.87 million. On average, equities research analysts forecast that Matador Resources will post 8.53 earnings per share for the current year.

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

Matador Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 9th will be given a dividend of $0.3125 per share. This represents a $1.25 dividend on an annualized basis and a yield of 3.04%. The ex-dividend date is Friday, May 9th. Matador Resources's payout ratio is 17.51%.

Insider Activity

In related news, Director Paul W. Harvey acquired 600 shares of Matador Resources stock in a transaction on Friday, February 21st. The shares were acquired at an average cost of $55.20 per share, with a total value of $33,120.00. Following the transaction, the director now owns 27,917 shares in the company, valued at $1,541,018.40. This trade represents a 2.20 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, COO Christopher P. Calvert bought 1,300 shares of the company's stock in a transaction dated Friday, February 21st. The stock was bought at an average cost of $55.17 per share, with a total value of $71,721.00. Following the completion of the transaction, the chief operating officer now owns 34,000 shares in the company, valued at approximately $1,875,780. This trade represents a 3.98 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 21,350 shares of company stock valued at $1,100,769. Company insiders own 6.10% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Altshuler Shaham Ltd bought a new stake in shares of Matador Resources during the fourth quarter valued at approximately $25,000. EverSource Wealth Advisors LLC lifted its position in Matador Resources by 108.5% during the fourth 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 during the period. TCTC Holdings LLC boosted its holdings in shares of Matador Resources by 53.8% during the 4th quarter. TCTC Holdings LLC now owns 500 shares of the energy company's stock valued at $28,000 after buying an additional 175 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its position in shares of Matador Resources by 68.3% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 510 shares of the energy company's stock worth $29,000 after buying an additional 207 shares during the period. Finally, Opal Wealth Advisors LLC bought a new position in shares of Matador Resources in the 1st quarter worth about $28,000. Institutional investors own 91.98% of the company's stock.

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.