Matador Resources (NYSE:MTDR) Sets New 1-Year Low at $50.50

Matador Resources (NYSE:MTDR)’s stock price reached a new 52-week low on Friday . The company traded as low as $50.50 and last traded at $50.51, with a volume of 315615 shares traded. The stock had previously closed at $51.47.

Wall Street Analyst Weigh In

MTDR has been the subject of a number of recent research reports. Mizuho boosted their price objective on shares of Matador Resources from $83.00 to $85.00 and gave the stock a “buy” rating in a report on Friday, June 14th. Wolfe Research began coverage on Matador Resources in a research note on Thursday, July 18th. They issued a “peer perform” rating for the company. Capital One Financial upgraded Matador Resources from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $80.00 to $84.00 in a research report on Thursday, July 25th. Royal Bank of Canada reiterated an “outperform” rating and issued a $75.00 price objective on shares of Matador Resources in a research report on Thursday, July 25th. Finally, Benchmark restated a “buy” rating and issued a $62.00 target price on shares of Matador Resources in a report on Wednesday, July 24th. Two research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, Matador Resources currently has an average rating of “Moderate Buy” and an average price target of $78.17.

Matador Resources Stock Down 2.0 %

The firm has a market capitalization of $6.29 billion, a P/E ratio of 7.05 and a beta of 3.29. The company has a quick ratio of 0.82, a current ratio of 0.86 and a debt-to-equity ratio of 0.41. The company has a fifty day simple moving average of $58.46 and a 200 day simple moving average of $61.59.

Matador Resources (NYSE:MTDR) last issued its earnings results on Tuesday, July 23rd. The energy company reported $2.05 EPS for the quarter, beating the consensus estimate of $1.76 by $0.29. The business had revenue of $847.14 million for the quarter, compared to the consensus estimate of $822.55 million. Matador Resources had a return on equity of 21.12% and a net margin of 29.01%. The company’s revenue was up 32.8% compared to the same quarter last year. During the same period last year, the business posted $1.42 EPS. On average, equities analysts expect that Matador Resources will post 7.83 EPS for the current fiscal year.

Matador Resources Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Thursday, August 15th were paid a dividend of $0.20 per share. The ex-dividend date was Thursday, August 15th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.59%. Matador Resources’s dividend payout ratio is currently 10.96%.

Insider Buying and Selling at Matador Resources

In related news, EVP Bryan A. Erman acquired 1,750 shares of Matador Resources stock in a transaction dated Friday, June 14th. The stock was purchased at an average cost of $55.90 per share, for a total transaction of $97,825.00. Following the purchase, the executive vice president now directly owns 1,750 shares of the company’s stock, valued at approximately $97,825. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Matador Resources news, EVP Bryan A. Erman bought 1,750 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The shares were bought at an average price of $55.90 per share, with a total value of $97,825.00. Following the purchase, the executive vice president now owns 1,750 shares of the company’s stock, valued at $97,825. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Joseph Wm Foran bought 2,000 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The stock was purchased at an average price of $55.96 per share, for a total transaction of $111,920.00. Following the completion of the transaction, the chief executive officer now directly owns 35,251 shares of the company’s stock, valued at approximately $1,972,645.96. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 4,250 shares of company stock valued at $236,995. Insiders own 6.10% of the company’s stock.

Hedge Funds Weigh In On Matador Resources

A number of institutional investors and hedge funds have recently made changes to their positions in MTDR. Denver PWM LLC bought a new stake in Matador Resources during the second quarter worth approximately $27,000. Covestor Ltd grew its holdings in Matador Resources by 121.4% during the 1st quarter. Covestor Ltd now owns 414 shares of the energy company’s stock valued at $28,000 after purchasing an additional 227 shares during the last quarter. Rise Advisors LLC purchased a new stake in Matador Resources in the 1st quarter worth about $34,000. Lindbrook Capital LLC lifted its stake in Matador Resources by 84.3% in the first quarter. Lindbrook Capital LLC now owns 597 shares of the energy company’s stock worth $40,000 after purchasing an additional 273 shares during the last quarter. Finally, Quarry LP boosted its position in shares of Matador Resources by 47.5% during the second quarter. Quarry LP now owns 779 shares of the energy company’s stock valued at $46,000 after buying an additional 251 shares during the period. 91.98% of the stock is owned by hedge funds and other 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.