Matador Resources (NYSE:MTDR) Sets New 52-Week Low – Here’s What Happened

Shares of Matador Resources (NYSE:MTDR) reached a new 52-week low during mid-day trading on Friday . The stock traded as low as $38.78 and last traded at $38.55, with a volume of 943230 shares trading hands. The stock had previously closed at $44.57.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Wolfe Research upgraded Matador Resources from a “peer perform” rating to an “outperform” rating and set a $72.00 target price for the company in a report on Friday, January 3rd. Raymond James lowered their price objective on shares of Matador Resources from $77.00 to $67.00 and set an “outperform” rating for the company in a research note on Monday, March 10th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $70.00 target price on shares of Matador Resources in a research note on Wednesday, January 15th. JPMorgan Chase & Co. decreased their price target on shares of Matador Resources from $76.00 to $65.00 and set an “overweight” rating for the company in a research report on Thursday, March 13th. Finally, Stephens upped their price objective on Matador Resources from $78.00 to $80.00 and gave the stock an “overweight” rating in a research report on Friday, December 6th. One research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Matador Resources currently has a consensus rating of “Moderate Buy” and an average target price of $73.79.

Matador Resources Stock Down 12.9 %

The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.84 and a current ratio of 0.93. The firm’s 50-day moving average price is $53.22 and its two-hundred day moving average price is $54.85. The firm has a market cap of $4.86 billion, a PE ratio of 5.45 and a beta of 3.17.

Matador Resources (NYSE:MTDR) last posted its earnings results on Tuesday, February 18th. The energy company reported $1.83 EPS for the quarter, missing analysts’ consensus estimates of $1.88 by ($0.05). The firm had revenue of $970.37 million for the quarter, compared to analyst estimates of $967.10 million. Matador Resources had a return on equity of 18.52% and a net margin of 25.26%. As a group, equities research analysts expect that Matador Resources will post 8.53 EPS for the current fiscal year.

Matador Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were given a dividend of $0.3125 per share. This represents a $1.25 dividend on an annualized basis and a yield of 3.22%. This is a boost from Matador Resources’s previous quarterly dividend of $0.25. The ex-dividend date was Friday, February 28th. Matador Resources’s dividend payout ratio (DPR) is presently 17.51%.

Insider Activity

In other news, Director Paul W. Harvey acquired 600 shares of the company’s stock in a transaction on Friday, February 21st. The shares were bought at an average cost of $55.20 per share, with a total value of $33,120.00. Following the purchase, the director now owns 27,917 shares of the company’s stock, valued at $1,541,018.40. This represents a 2.20 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Van H. Singleton II bought 2,000 shares of Matador Resources stock in a transaction dated Friday, February 21st. The stock was purchased at an average price of $53.21 per share, with a total value of $106,420.00. Following the purchase, the insider now directly owns 289,135 shares in the company, valued at approximately $15,384,873.35. This trade represents a 0.70 % increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 21,350 shares of company stock valued at $1,100,769. Company insiders own 6.10% of the company’s stock.

Institutional Investors Weigh In On Matador Resources

A number of hedge funds and other institutional investors have recently bought and sold shares of MTDR. FMR LLC increased its holdings in shares of Matador Resources by 162.9% in the 3rd quarter. FMR LLC now owns 478,795 shares of the energy company’s stock valued at $23,662,000 after purchasing an additional 296,663 shares in the last quarter. BNP Paribas Financial Markets boosted its stake in shares of Matador Resources by 71.3% during the 3rd quarter. BNP Paribas Financial Markets now owns 26,959 shares of the energy company’s stock worth $1,332,000 after acquiring an additional 11,218 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Matador Resources by 14.1% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 20,843 shares of the energy company’s stock worth $1,030,000 after acquiring an additional 2,578 shares during the period. Captrust Financial Advisors increased its stake in Matador Resources by 19.5% in the 3rd quarter. Captrust Financial Advisors now owns 44,469 shares of the energy company’s stock valued at $2,198,000 after purchasing an additional 7,254 shares in the last quarter. Finally, Janus Henderson Group PLC raised its holdings in Matador Resources by 6.4% during the third quarter. Janus Henderson Group PLC now owns 96,097 shares of the energy company’s stock worth $4,749,000 after purchasing an additional 5,790 shares during the last quarter. Institutional investors and hedge funds 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.