Matador Resources (NYSE:MTDR) Trading Down 4.1% – Here’s What Happened

Matador Resources (NYSE:MTDR) was down 4.1% during mid-day trading on Wednesday . The company traded as low as $44.74 and last traded at $44.55. Approximately 208,837 shares were traded during mid-day trading, a decline of 82% from the average daily volume of 1,182,049 shares. The stock had previously closed at $46.43.

Analysts Set New Price Targets

MTDR has been the subject of several recent research reports. Truist Financial upped their target price on Matador Resources from $75.00 to $80.00 and gave the company a “buy” rating in a report on Monday, January 13th. TD Cowen upped their price objective on Matador Resources from $74.00 to $75.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Stephens raised their target price on Matador Resources from $78.00 to $80.00 and gave the company an “overweight” rating in a research note on Friday, December 6th. Benchmark restated a “buy” rating and set a $62.00 price target on shares of Matador Resources in a research report on Friday, January 17th. Finally, Wolfe Research upgraded shares of Matador Resources from a “peer perform” rating to an “outperform” rating and set a $72.00 price objective on the stock in a research report on Friday, January 3rd. One equities research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $75.14.

Matador Resources Stock Performance

The company has a fifty day moving average of $57.74 and a 200 day moving average of $55.57. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.93 and a quick ratio of 0.84. The stock has a market cap of $5.60 billion, a P/E ratio of 6.26 and a beta of 3.22.

Matador Resources (NYSE:MTDR) last posted its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $967.10 million. Matador Resources had a return on equity of 18.52% and a net margin of 25.26%. On average, equities analysts predict that Matador Resources will post 8.53 earnings per share for the current fiscal year.

Matador Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be given a dividend of $0.3125 per share. The ex-dividend date is Friday, February 28th. This is a positive change from Matador Resources’s previous quarterly dividend of $0.25. This represents a $1.25 dividend on an annualized basis and a yield of 2.79%. Matador Resources’s dividend payout ratio (DPR) is presently 17.51%.

Insider Activity at Matador Resources

In related news, EVP William Thomas Elsener acquired 800 shares of the stock in a transaction dated Friday, December 13th. The shares were bought at an average cost of $56.60 per share, for a total transaction of $45,280.00. Following the purchase, the executive vice president now owns 102,964 shares in the company, valued at approximately $5,827,762.40. This trade represents a 0.78 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Joseph Wm Foran bought 2,000 shares of the company’s stock in a transaction dated Friday, December 6th. The stock was bought at an average cost of $55.18 per share, with a total value of $110,360.00. Following the completion of the acquisition, the chief executive officer now owns 42,251 shares in the company, valued at $2,331,410.18. This represents a 4.97 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 20,330 shares of company stock valued at $1,082,536. Corporate insiders own 6.10% of the company’s stock.

Institutional Trading of Matador Resources

A number of large investors have recently bought and sold shares of the stock. TCTC Holdings LLC grew its holdings in shares of Matador Resources by 53.8% in the 4th quarter. TCTC Holdings LLC now owns 500 shares of the energy company’s stock worth $28,000 after purchasing an additional 175 shares during the last quarter. MassMutual Private Wealth & Trust FSB boosted its position in Matador Resources by 68.3% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 510 shares of the energy company’s stock valued at $29,000 after buying an additional 207 shares in the last quarter. ClearAlpha Technologies LP grew its stake in Matador Resources by 4.3% during the third quarter. ClearAlpha Technologies LP now owns 5,250 shares of the energy company’s stock worth $259,000 after buying an additional 218 shares during the last quarter. Atria Investments Inc increased its holdings in shares of Matador Resources by 3.1% during the fourth quarter. Atria Investments Inc now owns 8,188 shares of the energy company’s stock worth $461,000 after buying an additional 249 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its stake in shares of Matador Resources by 108.5% in the fourth quarter. EverSource Wealth Advisors LLC now owns 492 shares of the energy company’s stock valued at $28,000 after acquiring an additional 256 shares during the last quarter. 91.98% of the stock is currently owned by institutional investors.

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.