Matador Resources (NYSE:MTDR) Shares Down 4.1% – Here’s Why

Matador Resources Company (NYSE:MTDR)’s share price traded down 4.1% on Thursday . The company traded as low as $41.42 and last traded at $41.30. 537,708 shares traded hands during trading, a decline of 69% from the average session volume of 1,730,826 shares. The stock had previously closed at $43.05.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on MTDR. Weiss Ratings restated a “hold (c-)” rating on shares of Matador Resources in a research note on Tuesday, October 14th. Royal Bank Of Canada lifted their price objective on Matador Resources from $60.00 to $62.00 and gave the company an “outperform” rating in a report on Wednesday, October 8th. Morgan Stanley dropped their target price on Matador Resources from $62.00 to $61.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 14th. Citigroup initiated coverage on Matador Resources in a research note on Monday, December 8th. They set a “buy” rating and a $53.00 target price for the company. Finally, Wells Fargo & Company decreased their price target on Matador Resources from $71.00 to $61.00 and set an “overweight” rating on the stock in a research note on Friday, October 24th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $62.50.

Matador Resources Price Performance

The company has a current ratio of 0.73, a quick ratio of 0.69 and a debt-to-equity ratio of 0.55. The business’s fifty day moving average is $41.61 and its 200 day moving average is $46.05. The company has a market cap of $5.11 billion, a P/E ratio of 6.57 and a beta of 1.11.

Matador Resources (NYSE:MTDR) last released its quarterly earnings data on Tuesday, October 21st. The energy company reported $1.36 EPS for the quarter, topping 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 the consensus estimate of $893.22 million. During the same period last year, the firm earned $1.89 EPS. Matador Resources’s revenue for the quarter was up 4.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Matador Resources Company will post 8.53 EPS for the current year.

Matador Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 5th. Stockholders of record on Monday, November 10th were paid a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a dividend yield of 3.6%. This is an increase from Matador Resources’s previous quarterly dividend of $0.31. The ex-dividend date of this dividend was Monday, November 10th. Matador Resources’s payout ratio is 23.96%.

Insiders Place Their Bets

In related news, EVP Robert T. Macalik purchased 1,500 shares of the company’s stock in a transaction dated Thursday, November 6th. The shares were purchased at an average cost of $38.25 per share, with a total value of $57,375.00. Following the transaction, the executive vice president directly owned 35,039 shares in the company, valued at $1,340,241.75. This trade represents a 4.47% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Susan M. Ward acquired 5,000 shares of Matador Resources stock in a transaction on Monday, November 3rd. The shares were purchased at an average price of $39.04 per share, with a total value of $195,200.00. Following the completion of the purchase, the director owned 14,923 shares in the company, valued at $582,593.92. This represents a 50.39% increase in their position. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders bought 37,346 shares of company stock worth $1,463,396. 5.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of Matador Resources by 0.7% in the third quarter. Vanguard Group Inc. now owns 14,780,888 shares of the energy company’s stock worth $664,105,000 after purchasing an additional 101,613 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Matador Resources by 4.2% during the 3rd quarter. Dimensional Fund Advisors LP now owns 6,411,520 shares of the energy company’s stock worth $288,079,000 after buying an additional 259,299 shares during the last quarter. LSV Asset Management lifted its position in Matador Resources by 5.9% in the third quarter. LSV Asset Management now owns 3,532,303 shares of the energy company’s stock valued at $158,706,000 after buying an additional 197,528 shares during the last quarter. Adage Capital Partners GP L.L.C. lifted its stake in Matador Resources by 143.1% during the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 2,556,472 shares of the energy company’s stock worth $121,995,000 after acquiring an additional 1,505,000 shares in the last quarter. Finally, Wellington Management Group LLP boosted its position in Matador Resources by 6.7% in the 3rd quarter. Wellington Management Group LLP now owns 2,064,037 shares of the energy company’s stock valued at $92,737,000 after buying an additional 129,863 shares during the period. 91.98% of the stock is currently owned by institutional investors.

Matador Resources Company Profile

Matador Resources Company is an independent energy firm primarily engaged in the exploration, development and production of oil, natural gas liquids (NGLs) and natural gas. The company focuses on upstream operations, utilizing horizontal drilling and hydraulic fracturing techniques to unlock hydrocarbons from key reservoirs. Its asset base includes both operated and non?operated positions, with a particular emphasis on the Permian Basin, one of the most prolific oil-producing regions in North America.

Matador’s core operations are concentrated in the Delaware Basin segment of the Permian Basin, where it holds substantial acreage in both Reeves and Culberson counties in West Texas and Eddy and Lea counties in New Mexico.