Matador Resources (NYSE:MTDR) Stock Price Down 5.1% – Here’s What Happened

Matador Resources Company (NYSE:MTDR) dropped 5.1% during trading on Monday . The company traded as low as $46.68 and last traded at $46.51. Approximately 124,253 shares changed hands during trading, a decline of 93% from the average daily volume of 1,672,302 shares. The stock had previously closed at $49.01.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Morgan Stanley increased their target price on Matador Resources from $60.00 to $62.00 and gave the company an “equal weight” rating in a research note on Monday, August 18th. KeyCorp reduced their price target on Matador Resources from $62.00 to $61.00 and set an “overweight” rating for the company in a report on Wednesday, September 3rd. Mizuho dropped their price target on Matador Resources from $73.00 to $69.00 and set an “outperform” rating on the stock in a research report on Monday, September 15th. Wells Fargo & Company reduced their price objective on Matador Resources from $80.00 to $74.00 and set an “overweight” rating on the stock in a research note on Monday, June 16th. Finally, TD Cowen upgraded Matador Resources to a “strong-buy” rating in a report on Monday, July 7th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $67.27.

Matador Resources Price Performance

The firm has a market cap of $5.68 billion, a P/E ratio of 6.67 and a beta of 1.49. The company has a current ratio of 0.85, a quick ratio of 0.81 and a debt-to-equity ratio of 0.57. The business has a 50-day moving average of $48.40 and a two-hundred day moving average of $46.88.

Matador Resources (NYSE:MTDR) last issued its quarterly earnings data on Tuesday, July 22nd. The energy company reported $1.53 earnings per share for the quarter, topping analysts’ consensus estimates of $1.29 by $0.24. The business had revenue of $895.31 million for the quarter, compared to analyst estimates of $892.86 million. Matador Resources had a return on equity of 16.53% and a net margin of 22.57%.Matador Resources’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.05 EPS. On average, sell-side analysts anticipate that Matador Resources Company will post 8.53 earnings per share for the current fiscal year.

Matador Resources Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 5th. Investors of record on Friday, August 15th were paid a dividend of $0.3125 per share. This represents a $1.25 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend was Friday, August 15th. Matador Resources’s dividend payout ratio is 18.30%.

Insider Buying and Selling

In other news, EVP William Thomas Elsener purchased 600 shares of the company’s stock in a transaction that occurred on Thursday, September 11th. The shares were acquired at an average cost of $48.46 per share, with a total value of $29,076.00. Following the purchase, the executive vice president owned 112,069 shares in the company, valued at $5,430,863.74. This represents a 0.54% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Joseph Wm Foran purchased 5,000 shares of the company’s stock in a transaction that occurred on Friday, August 1st. The shares were purchased at an average cost of $49.17 per share, for a total transaction of $245,850.00. Following the completion of the purchase, the chief executive officer owned 6,606 shares in the company, valued at $324,817.02. This trade represents a 311.33% increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have bought 11,380 shares of company stock valued at $549,188. 5.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Matador Resources

Several institutional investors have recently modified their holdings of the business. Corient Private Wealth LLC grew its holdings in shares of Matador Resources by 12.9% in the second quarter. Corient Private Wealth LLC now owns 22,235 shares of the energy company’s stock valued at $1,061,000 after acquiring an additional 2,548 shares in the last quarter. Texas Permanent School Fund Corp lifted its stake in Matador Resources by 39.5% in the second quarter. Texas Permanent School Fund Corp now owns 132,396 shares of the energy company’s stock valued at $6,318,000 after purchasing an additional 37,464 shares during the last quarter. Alternative Investment Advisors LLC. lifted its stake in Matador Resources by 7.2% in the second quarter. Alternative Investment Advisors LLC. now owns 24,976 shares of the energy company’s stock valued at $1,192,000 after purchasing an additional 1,672 shares during the last quarter. American Trust purchased a new position in Matador Resources in the second quarter valued at approximately $287,000. Finally, Cim Investment Management Inc. lifted its stake in Matador Resources by 100.7% in the second quarter. Cim Investment Management Inc. now owns 8,688 shares of the energy company’s stock valued at $452,000 after purchasing an additional 4,360 shares during the last quarter. 91.98% of the stock is owned by 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.