Matador Resources (NYSE:MTDR) Coverage Initiated at Bank of America

Analysts at Bank of America initiated coverage on shares of Matador Resources (NYSE:MTDR) in a note issued to investors on Monday,Briefing.com Automated Import reports. The firm set a “buy” rating and a $56.00 price target on the energy company’s stock. Bank of America‘s price objective suggests a potential upside of 25.87% from the company’s previous close.

MTDR has been the subject of a number of other reports. UBS Group started coverage on Matador Resources in a report on Tuesday, April 22nd. They issued a “neutral” rating and a $47.00 target price for the company. Mizuho dropped their target price on Matador Resources from $74.00 to $73.00 and set an “outperform” rating for the company in a report on Tuesday, May 13th. Wells Fargo & Company dropped their target price on Matador Resources from $86.00 to $80.00 and set an “overweight” rating for the company in a report on Monday, April 28th. Raymond James dropped their target price on Matador Resources from $77.00 to $67.00 and set an “outperform” rating for the company in a report on Monday, March 10th. Finally, KeyCorp dropped their target price on Matador Resources from $72.00 to $60.00 and set an “overweight” rating for the company in a report on Monday, April 21st. Two research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $69.44.

Matador Resources Price Performance

Shares of MTDR stock opened at $44.49 on Monday. The stock has a 50 day moving average of $44.24 and a two-hundred day moving average of $52.37. The company has a current ratio of 0.93, a quick ratio of 0.84 and a debt-to-equity ratio of 0.61. Matador Resources has a 12 month low of $35.19 and a 12 month high of $66.89. The company has a market capitalization of $5.57 billion, a P/E ratio of 6.23 and a beta of 1.47.

Matador Resources (NYSE:MTDR) last announced its quarterly earnings data on Wednesday, April 23rd. The energy company reported $1.99 EPS for the quarter, topping analysts’ consensus estimates of $1.74 by $0.25. Matador Resources had a return on equity of 18.52% and a net margin of 25.26%. The company had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $980.87 million. During the same quarter last year, the company earned $1.71 EPS. The company’s quarterly revenue was up 28.7% on a year-over-year basis. As a group, equities analysts expect that Matador Resources will post 8.53 EPS for the current year.

Matador Resources announced that its board has initiated a stock repurchase plan on Wednesday, April 23rd that allows the company to repurchase $400.00 million in outstanding shares. This repurchase authorization allows the energy company to reacquire up to 7.8% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling at Matador Resources

In other news, CEO Joseph Wm Foran bought 6,000 shares of the stock in a transaction dated Friday, February 21st. The shares were bought at an average price of $53.94 per share, for a total transaction of $323,640.00. Following the completion of the purchase, the chief executive officer now owns 39,379 shares in the company, valued at approximately $2,124,103.26. This trade represents a 17.98% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Christopher P. Calvert purchased 1,300 shares of Matador Resources stock in a transaction that occurred on Friday, February 21st. The shares were bought at an average cost of $55.17 per share, for a total transaction of $71,721.00. Following the transaction, the chief operating officer now directly owns 34,000 shares of the company’s stock, valued at $1,875,780. This represents a 3.98% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired 36,200 shares of company stock worth $1,701,872 over the last 90 days. Company insiders own 6.10% of the company’s stock.

Institutional Investors Weigh In On Matador Resources

A number of large investors have recently modified their holdings of the business. Altshuler Shaham Ltd acquired a new stake in shares of Matador Resources during the 4th quarter valued at $25,000. MCF Advisors LLC acquired a new stake in shares of Matador Resources in the 1st quarter valued at about $26,000. TCTC Holdings LLC grew its stake in shares of Matador Resources by 53.8% in 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 during the period. EverSource Wealth Advisors LLC grew its stake in shares of Matador Resources by 108.5% in 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 during the period. Finally, Opal Wealth Advisors LLC acquired a new stake in shares of Matador Resources in the 1st quarter valued at about $28,000. Institutional investors and hedge funds 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.