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

Matador Resources Company (NYSE:MTDR)’s stock price gapped down before the market opened on Monday . The stock had previously closed at $54.05, but opened at $51.09. Matador Resources shares last traded at $51.5450, with a volume of 180,158 shares.

Analysts Set New Price Targets

A number of analysts recently issued reports on MTDR shares. Mizuho raised their price objective on Matador Resources from $74.00 to $77.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 27th. Weiss Ratings downgraded Matador Resources from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, May 12th. Roth Mkm reissued a “neutral” rating and set a $65.00 price objective (up from $52.00) on shares of Matador Resources in a research report on Wednesday, April 8th. TD Cowen raised their price objective on Matador Resources from $60.00 to $65.00 and gave the stock a “buy” rating in a research report on Tuesday, March 17th. Finally, Wells Fargo & Company lifted their target price on Matador Resources from $54.00 to $63.00 and gave the company an “equal weight” rating in a research report on Thursday, April 16th. Ten investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Matador Resources currently has an average rating of “Moderate Buy” and an average target price of $65.08.

Matador Resources Stock Performance

The company has a market capitalization of $6.44 billion, a price-to-earnings ratio of 13.35 and a beta of 0.75. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.70 and a current ratio of 0.73. The firm has a 50-day simple moving average of $58.08 and a two-hundred day simple moving average of $51.48.

Matador Resources (NYSE:MTDR) last released its earnings results on Wednesday, May 6th. The energy company reported $1.53 earnings per share for the quarter, beating the consensus estimate of $1.24 by $0.29. The company had revenue of $941.60 million during the quarter, compared to the consensus estimate of $871.57 million. Matador Resources had a return on equity of 11.20% and a net margin of 14.41%.Matador Resources’s revenue was down 33.8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.99 EPS. On average, sell-side analysts anticipate that Matador Resources Company will post 7.5 EPS for the current fiscal year.

Matador Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Friday, May 8th were given a dividend of $0.375 per share. The ex-dividend date of this dividend was Friday, May 8th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 2.9%. Matador Resources’s payout ratio is currently 38.56%.

Insider Transactions at Matador Resources

In related news, CFO Christopher P. Calvert acquired 1,500 shares of the stock in a transaction dated Friday, May 29th. The stock was acquired at an average cost of $53.24 per share, with a total value of $79,860.00. Following the completion of the transaction, the chief financial officer owned 41,500 shares in the company, valued at $2,209,460. This represents a 3.75% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Joseph Wm Foran acquired 4,675 shares of the stock in a transaction dated Wednesday, May 27th. The shares were bought at an average cost of $52.36 per share, with a total value of $244,783.00. Following the completion of the transaction, the chief executive officer owned 6,997 shares of the company’s stock, valued at approximately $366,362.92. This represents a 201.34% increase in their position. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders purchased 11,907 shares of company stock valued at $635,712. 5.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Matador Resources

A number of institutional investors and hedge funds have recently made changes to their positions in MTDR. CIBC Bancorp USA Inc. acquired a new position in shares of Matador Resources during the third quarter worth about $61,615,000. Wellington Management Group LLP lifted its stake in 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 purchasing an additional 1,342,145 shares during the last quarter. Encompass Capital Advisors LLC purchased a new stake in Matador Resources during the fourth quarter worth approximately $53,249,000. First Trust Advisors LP lifted its stake in 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 purchasing an additional 810,808 shares during the last quarter. Finally, Balyasny Asset Management L.P. lifted its stake in 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 purchasing an additional 531,551 shares during the last quarter. 91.98% of the stock is 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.