Matador Resources (NYSE:MTDR) Sets New 12-Month Low at $50.50

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

Analyst Ratings Changes

Several analysts have recently weighed in on MTDR shares. Benchmark reiterated a “buy” rating and set a $62.00 target price on shares of Matador Resources in a research report on Wednesday, July 24th. Capital One Financial upgraded shares of Matador Resources from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $80.00 to $84.00 in a report on Thursday, July 25th. TD Cowen raised their target price on shares of Matador Resources from $85.00 to $87.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Wells Fargo & Company lifted their price target on shares of Matador Resources from $88.00 to $89.00 and gave the company an “overweight” rating in a research note on Monday, July 29th. Finally, Truist Financial dropped their price objective on Matador Resources from $91.00 to $86.00 and set a “buy” rating on the stock in a research note on Monday, July 22nd. Two equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $78.17.

Matador Resources Stock Down 2.0 %

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

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

Matador Resources Dividend Announcement

The business 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 yield of 1.59%. Matador Resources’s payout ratio is 10.96%.

Insiders Place Their Bets

In other news, CAO Robert T. Macalik bought 500 shares of Matador Resources stock in a transaction that occurred on Friday, August 2nd. The stock was bought at an average price of $54.50 per share, for a total transaction of $27,250.00. Following the purchase, the chief accounting officer now directly owns 29,300 shares of the company’s stock, valued at approximately $1,596,850. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Matador Resources news, 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 bought at an average cost 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Robert T. Macalik purchased 500 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were bought at an average cost of $54.50 per share, for a total transaction of $27,250.00. Following the completion of the transaction, the chief accounting officer now directly owns 29,300 shares in the company, valued at approximately $1,596,850. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 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

Several institutional investors and hedge funds have recently modified their holdings of MTDR. Essex Investment Management Co. LLC increased its holdings in Matador Resources by 0.5% in the first quarter. Essex Investment Management Co. LLC now owns 37,532 shares of the energy company’s stock valued at $2,506,000 after buying an additional 169 shares in the last quarter. Securian Asset Management Inc. boosted its position in Matador Resources by 1.9% during the second quarter. Securian Asset Management Inc. now owns 9,255 shares of the energy company’s stock worth $552,000 after purchasing an additional 170 shares in the last quarter. Atria Wealth Solutions Inc. grew its holdings in Matador Resources by 5.3% in the fourth quarter. Atria Wealth Solutions Inc. now owns 3,880 shares of the energy company’s stock valued at $221,000 after purchasing an additional 195 shares during the period. Raymond James Trust N.A. increased its position in shares of Matador Resources by 3.6% in the second quarter. Raymond James Trust N.A. now owns 5,714 shares of the energy company’s stock valued at $341,000 after buying an additional 198 shares in the last quarter. Finally, Covestor Ltd raised its stake in shares of Matador Resources by 121.4% during the 1st quarter. Covestor Ltd now owns 414 shares of the energy company’s stock worth $28,000 after buying an additional 227 shares during the period. 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.