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

Shares of Matador Resources Company (NYSE:MTDR) fell 4.1% on Thursday . The stock traded as low as $41.42 and last traded at $41.30. 537,708 shares traded hands during mid-day 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 Analyst Weigh In

A number of equities analysts have recently weighed in on MTDR shares. Raymond James Financial reissued an “outperform” rating and issued a $55.00 price objective (down previously from $63.00) on shares of Matador Resources in a research report on Monday, October 20th. Bank of America lowered their target price on shares of Matador Resources from $55.00 to $50.00 and set a “buy” rating for the company in a research note on Monday, November 3rd. UBS Group increased their price target on Matador Resources from $46.00 to $50.00 and gave the stock a “neutral” rating in a research note on Friday, December 12th. 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 research report on Wednesday, October 8th. Finally, William Blair initiated coverage on Matador Resources in a research note on Monday, August 25th. They issued an “outperform” rating for the company. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and three 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 target price of $63.33.

Matador Resources Stock Performance

The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.69 and a current ratio of 0.73. The stock has a fifty day simple moving average of $41.71 and a two-hundred day simple moving average of $46.11. The stock has a market cap of $5.08 billion, a PE ratio of 6.54 and a beta of 1.11.

Matador Resources (NYSE:MTDR) last posted its quarterly earnings data on Tuesday, October 21st. The energy company reported $1.36 earnings per share for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $893.22 million. During the same period in the prior year, the company posted $1.89 EPS. The firm’s revenue for the quarter was up 4.4% on a year-over-year basis. Equities analysts anticipate that Matador Resources Company 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, December 5th. Stockholders of record on Monday, November 10th were issued a $0.375 dividend. This is a boost from Matador Resources’s previous quarterly dividend of $0.31. The ex-dividend date of this dividend was Monday, November 10th. This represents a $1.50 annualized dividend and a dividend yield of 3.7%. Matador Resources’s dividend payout ratio (DPR) is presently 23.96%.

Insider Activity

In other news, COO Christopher P. Calvert bought 2,500 shares of the firm’s stock in a transaction on Monday, November 3rd. The stock was purchased at an average price of $39.44 per share, for a total transaction of $98,600.00. Following the transaction, the chief operating officer owned 40,000 shares in the company, valued at approximately $1,577,600. This trade represents a 6.67% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Robert T. Macalik acquired 1,500 shares of Matador Resources stock in a transaction that occurred on Thursday, November 6th. The stock was bought at an average cost of $38.25 per share, with a total value of $57,375.00. Following the acquisition, the executive vice president directly owned 35,039 shares of the company’s stock, valued at approximately $1,340,241.75. This trade represents a 4.47% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders purchased 37,346 shares of company stock worth $1,463,396 over the last 90 days. Insiders own 5.80% of the company’s stock.

Institutional Investors Weigh In On Matador Resources

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Adage Capital Partners GP L.L.C. boosted its holdings in Matador Resources by 143.1% in the second 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 purchasing an additional 1,505,000 shares in the last quarter. CIBC Bancorp USA Inc. bought a new stake in shares of Matador Resources in the third quarter valued at about $61,615,000. LSV Asset Management grew its position in Matador Resources by 45.7% during the second quarter. LSV Asset Management now owns 3,334,775 shares of the energy company’s stock worth $159,135,000 after buying an additional 1,045,396 shares in the last quarter. Encompass Capital Advisors LLC bought a new stake in shares of Matador Resources during the second quarter valued at approximately $37,194,000. Finally, Wellington Management Group LLP raised its stake in shares of Matador Resources by 30.5% in the 1st quarter. Wellington Management Group LLP now owns 2,043,715 shares of the energy company’s stock valued at $104,413,000 after buying an additional 477,236 shares in the last quarter. Hedge funds and other institutional investors own 91.98% of the company’s stock.

About Matador Resources

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.