Matador Resources (NYSE:MTDR) Shares Down 5.1% – Time to Sell?

Matador Resources Company (NYSE:MTDR) fell 5.1% during mid-day trading on Thursday . The company traded as low as $56.59 and last traded at $56.5010. 1,977,226 shares were traded during mid-day trading, an increase of 6% from the average session volume of 1,856,591 shares. The stock had previously closed at $59.52.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. TD Cowen upped their target price on Matador Resources from $60.00 to $65.00 and gave the stock a “buy” rating in a research report on Tuesday, March 17th. KeyCorp lifted their price target on Matador Resources from $61.00 to $73.00 and gave the company an “overweight” rating in a report on Thursday, April 2nd. Morgan Stanley reduced their price target on Matador Resources from $56.00 to $52.00 and set an “equal weight” rating for the company in a report on Friday, January 23rd. UBS Group lifted their price target on Matador Resources from $50.00 to $52.00 and gave the company a “neutral” rating in a report on Thursday, March 5th. Finally, Weiss Ratings lowered Matador Resources from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, May 12th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, Matador Resources has an average rating of “Moderate Buy” and an average target price of $63.46.

Matador Resources Trading Down 5.7%

The firm has a market capitalization of $6.97 billion, a price-to-earnings ratio of 14.43 and a beta of 0.81. The company has a current ratio of 0.73, a quick ratio of 0.70 and a debt-to-equity ratio of 0.59. The company has a fifty day moving average price of $59.63 and a 200-day moving average price of $49.70.

Matador Resources (NYSE:MTDR) last announced its quarterly earnings results on Wednesday, May 6th. The energy company reported $1.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.24 by $0.29. The business had revenue of $941.60 million during the quarter, compared to analyst estimates of $871.57 million. Matador Resources had a return on equity of 11.20% and a net margin of 14.41%.The firm’s revenue was down 33.8% on a year-over-year basis. During the same period in the previous year, the company earned $1.99 EPS. On average, equities research analysts predict that Matador Resources Company will post 7.42 EPS for the current year.

Matador Resources Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 5th. Investors of record on Friday, May 8th will be issued a $0.375 dividend. This represents a $1.50 annualized dividend and a yield of 2.7%. The ex-dividend date is Friday, May 8th. Matador Resources’s payout ratio is 38.56%.

Institutional Investors Weigh In On Matador Resources

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. CIBC Bancorp USA Inc. acquired a new position in shares of Matador Resources during the third quarter worth approximately $61,615,000. Wellington Management Group LLP lifted its holdings in shares of Matador Resources by 65.0% during the fourth quarter. Wellington Management Group LLP now owns 3,406,182 shares of the energy company’s stock worth $144,558,000 after buying an additional 1,342,145 shares during the last quarter. Encompass Capital Advisors LLC acquired a new position in shares of Matador Resources during the fourth quarter worth approximately $53,249,000. First Trust Advisors LP lifted its holdings in shares of Matador Resources by 103.3% during the first quarter. First Trust Advisors LP now owns 1,595,415 shares of the energy company’s stock worth $100,798,000 after buying an additional 810,808 shares during the last quarter. Finally, Balyasny Asset Management L.P. lifted its holdings in shares of Matador Resources by 2,495.0% during the fourth quarter. Balyasny Asset Management L.P. now owns 552,856 shares of the energy company’s stock worth $23,463,000 after buying an additional 531,551 shares during the last quarter. 91.98% of the stock is currently owned by institutional investors and hedge funds.

About Matador Resources

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.