Matador Resources (NYSE:MTDR) Hits New 12-Month Low on Analyst Downgrade

Matador Resources (NYSE:MTDR)’s stock price hit a new 52-week low during trading on Thursday after Royal Bank of Canada lowered their price target on the stock from $70.00 to $62.00. Royal Bank of Canada currently has an outperform rating on the stock. Matador Resources traded as low as $35.19 and last traded at $42.58, with a volume of 4463292 shares. The stock had previously closed at $36.67.

Other analysts have also recently issued research reports about the stock. TD Cowen increased their price target on shares of Matador Resources from $74.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Wolfe Research upgraded Matador Resources from a “peer perform” rating to an “outperform” rating and set a $72.00 price target for the company in a report on Friday, January 3rd. Mizuho dropped their price objective on Matador Resources from $74.00 to $73.00 and set an “outperform” rating on the stock in a research note on Monday, December 16th. Benchmark reiterated a “buy” rating and set a $62.00 target price on shares of Matador Resources in a research note on Friday, January 17th. Finally, Raymond James dropped their price target on Matador Resources from $77.00 to $67.00 and set an “outperform” rating on the stock in a research note on Monday, March 10th. One analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $72.93.

Insider Buying and Selling

In related news, Director Paul W. Harvey bought 600 shares of Matador Resources stock in a transaction dated Friday, February 21st. The shares were bought at an average cost of $55.20 per share, with a total value of $33,120.00. Following the acquisition, 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 position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Timothy E. Parker purchased 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 5th. The stock was bought at an average price of $44.67 per share, for a total transaction of $89,340.00. Following the transaction, the director now directly owns 83,790 shares of the company’s stock, valued at $3,742,899.30. This trade represents a 2.45 % 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. 6.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Matador Resources

Large investors have recently bought and sold shares of the company. Merit Financial Group LLC raised its holdings in shares of Matador Resources by 28.2% during the 1st quarter. Merit Financial Group LLC now owns 5,720 shares of the energy company’s stock worth $292,000 after buying an additional 1,257 shares in the last quarter. Mitchell & Pahl Private Wealth LLC bought a new position in Matador Resources in the first quarter valued at about $816,000. NBC Securities Inc. raised its stake in Matador Resources by 106,314.3% during the first quarter. NBC Securities Inc. now owns 7,449 shares of the energy company’s stock worth $380,000 after acquiring an additional 7,442 shares in the last quarter. Rhumbline Advisers lifted its holdings in shares of Matador Resources by 6.5% in the first quarter. Rhumbline Advisers now owns 328,959 shares of the energy company’s stock worth $16,806,000 after acquiring an additional 19,937 shares during the last quarter. Finally, Delphi Management Inc. MA boosted its stake in shares of Matador Resources by 118.6% in the 1st quarter. Delphi Management Inc. MA now owns 23,302 shares of the energy company’s stock valued at $1,190,000 after purchasing an additional 12,642 shares in the last quarter. 91.98% of the stock is currently owned by institutional investors and hedge funds.

Matador Resources Stock Performance

The firm has a market capitalization of $4.93 billion, a price-to-earnings ratio of 5.52 and a beta of 2.74. The company has a current ratio of 0.93, a quick ratio of 0.84 and a debt-to-equity ratio of 0.61. The stock’s 50-day moving average is $49.97 and its 200-day moving average is $54.14.

Matador Resources (NYSE:MTDR) last announced its quarterly earnings results on Tuesday, February 18th. The energy company reported $1.83 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.88 by ($0.05). The company had revenue of $970.37 million for the quarter, compared to analyst estimates of $967.10 million. Matador Resources had a return on equity of 18.52% and a net margin of 25.26%. On average, analysts predict that Matador Resources will post 8.53 EPS for the current fiscal year.

Matador Resources Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were issued a dividend of $0.3125 per share. This represents a $1.25 dividend on an annualized basis and a dividend yield of 3.17%. The ex-dividend date of this dividend was Friday, February 28th. This is a positive change from Matador Resources’s previous quarterly dividend of $0.25. Matador Resources’s payout ratio is 17.51%.

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.