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

Matador Resources (NYSE:MTDR)’s share price hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $46.03 and last traded at $46.40, with a volume of 61408 shares changing hands. The stock had previously closed at $47.74.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Wolfe Research upgraded Matador Resources from a “peer perform” rating to an “outperform” rating and set a $72.00 price objective on the stock in a research note on Friday, January 3rd. TD Cowen lifted their target price on Matador Resources from $74.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Mizuho reduced their target price on Matador Resources from $74.00 to $73.00 and set an “outperform” rating for the company in a report on Monday, December 16th. Benchmark reaffirmed a “buy” rating and set a $62.00 target price on shares of Matador Resources in a report on Friday, January 17th. Finally, Wells Fargo & Company lifted their target price on Matador Resources from $87.00 to $91.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. One analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, Matador Resources currently has an average rating of “Moderate Buy” and an average price target of $75.14.

Matador Resources Stock Performance

The company has a market capitalization of $5.72 billion, a PE ratio of 6.38 and a beta of 3.22. The company has a 50 day moving average of $58.01 and a two-hundred day moving average of $55.71. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.93 and a quick ratio of 0.84.

Matador Resources (NYSE:MTDR) last released 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). Matador Resources had a return on equity of 18.52% and a net margin of 25.26%. The company had revenue of $970.37 million during the quarter, compared to analysts’ expectations of $967.10 million. As a group, equities research analysts predict that Matador Resources will post 8.53 earnings per share for the current year.

Matador Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be given a dividend of $0.3125 per share. The ex-dividend date of this dividend is Friday, February 28th. This is a boost from Matador Resources’s previous quarterly dividend of $0.25. This represents a $1.25 annualized dividend and a dividend yield of 2.74%. Matador Resources’s dividend payout ratio (DPR) is 17.51%.

Insider Buying and Selling at Matador Resources

In other news, EVP William Thomas Elsener purchased 800 shares of the business’s stock in a transaction on Friday, December 13th. The stock was acquired at an average price of $56.60 per share, for a total transaction of $45,280.00. Following the acquisition, the executive vice president now directly owns 102,964 shares of the company’s stock, valued at $5,827,762.40. This represents a 0.78 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Van H. Singleton II purchased 2,000 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The shares were acquired at an average cost of $53.21 per share, with a total value of $106,420.00. Following the completion of the purchase, the insider now directly owns 289,135 shares in the company, valued at $15,384,873.35. The trade was a 0.70 % increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 20,330 shares of company stock valued at $1,082,536. 6.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in shares of Matador Resources by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 12,555,553 shares of the energy company’s stock worth $706,375,000 after acquiring an additional 187,633 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Matador Resources by 0.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 5,444,723 shares of the energy company’s stock worth $306,313,000 after acquiring an additional 30,184 shares in the last quarter. Victory Capital Management Inc. grew its stake in Matador Resources by 2.7% during the 3rd quarter. Victory Capital Management Inc. now owns 2,752,102 shares of the energy company’s stock worth $136,009,000 after buying an additional 72,077 shares during the last quarter. Alliancebernstein L.P. grew its stake in Matador Resources by 25.9% during the 4th quarter. Alliancebernstein L.P. now owns 2,698,606 shares of the energy company’s stock worth $151,824,000 after buying an additional 555,245 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in Matador Resources by 1.9% during the 3rd quarter. Geode Capital Management LLC now owns 2,008,730 shares of the energy company’s stock worth $99,297,000 after buying an additional 36,921 shares during the last quarter. 91.98% of the stock is 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.