The proven Zacks Rank system focuses on earnings estimates and estimate revisions to find winning stocks. Nevertheless, we know that our readers all have their own perspectives, so we are always looking at the latest trends in value, growth, and momentum to find strong picks.

Looking at the history of these trends, perhaps none is more beloved than value investing. This strategy simply looks to identify companies that are being undervalued by the broader market. Value investors use fundamental analysis and traditional valuation metrics to find stocks that they believe are being undervalued by the market at large.

On top of the Zacks Rank, investors can also look at our innovative Style Scores system to find stocks with specific traits. For example, value investors will want to focus on the "Value" category. Stocks with high Zacks Ranks and "A" grades for Value will be some of the highest-quality value stocks on the market today.

One company to watch right now is Matador Resources (MTDR). MTDR is currently sporting a Zacks Rank of #2 (Buy) and an A for Value. The stock holds a P/E ratio of 6.67, while its industry has an average P/E of 8.81. Over the past 52 weeks, MTDR's Forward P/E has been as high as 9.96 and as low as 5.51, with a median of 7.31.

We should also highlight that MTDR has a P/B ratio of 1.39. The P/B ratio pits a stock's market value against its book value, which is defined as total assets minus total liabilities. This company's current P/B looks solid when compared to its industry's average P/B of 3.25. MTDR's P/B has been as high as 1.98 and as low as 1.21, with a median of 1.52, over the past year.

Finally, investors should note that MTDR has a P/CF ratio of 3.85. This metric focuses on a firm's operating cash flow and is often used to find stocks that are undervalued based on the strength of their cash outlook. MTDR's P/CF compares to its industry's average P/CF of 5.15. Over the past 52 weeks, MTDR's P/CF has been as high as 5.25 and as low as 3.28, with a median of 4.09.

Investors could also keep in mind SM Energy (SM), an Oil and Gas - Exploration and Production - United States stock with a Zacks Rank of # 1 (Strong Buy) and Value grade of A.

SM Energy also has a P/B ratio of 1.05 compared to its industry's price-to-book ratio of 3.25. Over the past year, its P/B ratio has been as high as 1.64, as low as 1.03, with a median of 1.30.

These are just a handful of the figures considered in Matador Resources and SM Energy's great Value grade. Still, they help show that the stock is likely being undervalued at the moment. Add this to the strength of its earnings outlook, and we can clearly see that MTDR and SM is an impressive value stock right now.

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