Matador Resources (NYSE:MTDR) Stock Price Down 3.1% – What’s Next?

Matador Resources (NYSE:MTDR) shares were down 3.1% during mid-day trading on Monday . The company traded as low as $49.86 and last traded at $50.21. Approximately 190,179 shares traded hands during mid-day trading, a decline of 88% from the average daily volume of 1,527,992 shares. The stock had previously closed at $51.83.

Analysts Set New Price Targets

A number of brokerages have commented on MTDR. Stephens lifted their target price on shares of Matador Resources from $76.00 to $78.00 and gave the stock an “overweight” rating in a research note on Monday, October 21st. Royal Bank of Canada reaffirmed an “outperform” rating and set a $70.00 price target on shares of Matador Resources in a research report on Thursday, October 24th. BMO Capital Markets increased their price objective on Matador Resources from $75.00 to $78.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. KeyCorp reduced their target price on Matador Resources from $76.00 to $72.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 16th. Finally, Capital One Financial raised Matador Resources from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $80.00 to $84.00 in a research report on Thursday, July 25th. Two analysts have rated the stock with a hold rating and thirteen have assigned 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 an average target price of $75.31.

Matador Resources Price Performance

The stock has a market capitalization of $6.30 billion, a price-to-earnings ratio of 6.69 and a beta of 3.26. The company has a quick ratio of 0.84, a current ratio of 0.88 and a debt-to-equity ratio of 0.71. The stock has a fifty day moving average of $52.50 and a 200-day moving average of $57.78.

Matador Resources (NYSE:MTDR) last announced its quarterly earnings results on Tuesday, October 22nd. The energy company reported $1.89 EPS for the quarter, topping the consensus estimate of $1.78 by $0.11. Matador Resources had a net margin of 27.45% and a return on equity of 20.01%. The firm had revenue of $770.20 million for the quarter, compared to analyst estimates of $836.69 million. During the same period last year, the business earned $1.86 EPS. Matador Resources’s revenue for the quarter was up 9.8% compared to the same quarter last year. On average, equities research analysts predict that Matador Resources will post 7.42 EPS for the current fiscal year.

Matador Resources Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 15th will be given a $0.25 dividend. The ex-dividend date of this dividend is Friday, November 15th. This is a boost from Matador Resources’s previous quarterly dividend of $0.20. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.98%. Matador Resources’s dividend payout ratio is 10.60%.

Insider Activity

In related news, CEO Joseph Wm Foran bought 2,500 shares of the company’s stock in a transaction dated Friday, September 6th. The shares were acquired at an average price of $51.47 per share, with a total value of $128,675.00. Following the completion of the acquisition, the chief executive officer now owns 37,751 shares in the company, valued at approximately $1,943,043.97. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Matador Resources news, CEO Joseph Wm Foran purchased 2,500 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The shares were purchased at an average cost of $51.47 per share, for a total transaction of $128,675.00. Following the completion of the purchase, the chief executive officer now directly owns 37,751 shares in the company, valued at $1,943,043.97. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Robert T. Macalik acquired 500 shares of the business’s stock in a transaction on Friday, September 6th. The stock was acquired at an average price of $50.25 per share, with a total value of $25,125.00. Following the transaction, the chief accounting officer now directly owns 29,800 shares of the company’s stock, valued at $1,497,450. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 12,300 shares of company stock valued at $634,615. 6.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Denver PWM LLC purchased a new position in Matador Resources in the 2nd quarter valued at approximately $27,000. Covestor Ltd increased its holdings in Matador Resources by 121.4% during the 1st quarter. Covestor Ltd now owns 414 shares of the energy company’s stock valued at $28,000 after acquiring an additional 227 shares in the last quarter. Quarry LP raised its position in Matador Resources by 47.5% during the second quarter. Quarry LP now owns 779 shares of the energy company’s stock worth $46,000 after acquiring an additional 251 shares during the last quarter. Advisors Asset Management Inc. lifted its holdings in shares of Matador Resources by 191.8% in the first quarter. Advisors Asset Management Inc. now owns 709 shares of the energy company’s stock valued at $47,000 after purchasing an additional 466 shares in the last quarter. Finally, GAMMA Investing LLC increased its stake in shares of Matador Resources by 28.7% during the 3rd quarter. GAMMA Investing LLC now owns 1,403 shares of the energy company’s stock worth $69,000 after purchasing an additional 313 shares in the last quarter. 91.98% of the stock is owned by hedge funds and other institutional investors.

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.