Matador Resources (NYSE:MTDR) Shares Down 4.1% – What’s Next?

by · The Cerbat Gem

Shares of Matador Resources Company (NYSE:MTDR – Get Free Report) dropped 4.1% during mid-day trading on Thursday . The stock traded as low as $41.42 and last traded at $41.30. Approximately 537,708 shares traded hands during trading, a decline of 69% from the average daily volume of 1,730,826 shares. The stock had previously closed at $43.05.

Analyst Upgrades and Downgrades

A number of research firms have commented on MTDR. Citigroup assumed coverage on Matador Resources in a research report on Monday, December 8th. They issued a “buy” rating and a $53.00 target price on the stock. Weiss Ratings restated a “hold (c-)” rating on shares of Matador Resources in a report on Tuesday, October 14th. William Blair assumed coverage on shares of Matador Resources in a research note on Monday, August 25th. They set an “outperform” rating for the company. KeyCorp reduced their price target on shares of Matador Resources from $61.00 to $52.00 and set an “overweight” rating on the stock in a research note on Friday, October 24th. Finally, Wells Fargo & Company decreased their price objective on shares of Matador Resources from $71.00 to $61.00 and set an “overweight” rating on the stock in a report on Friday, October 24th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $63.33.

Get Our Latest Research Report on MTDR

Matador Resources Trading Down 5.0%

The company’s 50 day moving average price is $41.71 and its 200 day moving average price is $46.11. The firm has a market cap of $5.08 billion, a PE ratio of 6.54 and a beta of 1.11. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.73 and a quick ratio of 0.69.

Matador Resources (NYSE:MTDR – Get Free Report) last issued its quarterly earnings results on Tuesday, October 21st. The energy company reported $1.36 EPS for the quarter, beating the consensus estimate of $1.22 by $0.14. Matador Resources had a net margin of 20.46% and a return on equity of 14.80%. The company had revenue of $939.02 million during the quarter, compared to analysts’ expectations of $893.22 million. During the same quarter last year, the company posted $1.89 EPS. The firm’s revenue was up 4.4% compared to the same quarter last year. As a group, analysts forecast that Matador Resources Company will post 8.53 EPS for the current fiscal year.

Matador Resources Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 5th. Investors of record on Monday, November 10th were paid a dividend of $0.375 per share. The ex-dividend date was Monday, November 10th. This is a positive change from Matador Resources’s previous quarterly dividend of $0.31. This represents a $1.50 annualized dividend and a yield of 3.7%. Matador Resources’s dividend payout ratio (DPR) is presently 23.96%.

Insider Buying and Selling at Matador Resources

In other news, insider Van H. Singleton II acquired 1,000 shares of the firm’s stock in a transaction dated Monday, November 3rd. The stock was acquired at an average cost of $39.46 per share, with a total value of $39,460.00. Following the completion of the acquisition, the insider owned 292,418 shares of the company’s stock, valued at $11,538,814.28. The trade was a 0.34% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Susan M. Ward purchased 5,000 shares of the firm’s stock in a transaction that occurred on Monday, November 3rd. The shares were acquired at an average price of $39.04 per share, with a total value of $195,200.00. Following the purchase, the director owned 14,923 shares in the company, valued at $582,593.92. This trade represents a 50.39% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders have bought 37,346 shares of company stock worth $1,463,396. 5.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. MAI Capital Management raised its stake in shares of Matador Resources by 13.9% during the 2nd quarter. MAI Capital Management now owns 1,726 shares of the energy company’s stock worth $82,000 after buying an additional 210 shares during the last quarter. Beacon Pointe Advisors LLC increased its holdings in Matador Resources by 4.3% during the 2nd quarter. Beacon Pointe Advisors LLC now owns 5,281 shares of the energy company’s stock valued at $252,000 after acquiring an additional 216 shares in the last quarter. ProShare Advisors LLC raised its position in Matador Resources by 4.5% during the second quarter. ProShare Advisors LLC now owns 5,163 shares of the energy company’s stock worth $246,000 after acquiring an additional 220 shares during the last quarter. Fiduciary Trust Co raised its position in Matador Resources by 2.2% during the third quarter. Fiduciary Trust Co now owns 11,821 shares of the energy company’s stock worth $531,000 after acquiring an additional 253 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB lifted its holdings in shares of Matador Resources by 93.0% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 554 shares of the energy company’s stock valued at $26,000 after purchasing an additional 267 shares in the last quarter. 91.98% of the stock is owned by hedge funds and other institutional investors.

About Matador Resources

(Get Free Report)

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.

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