Matador Resources (NYSE:MTDR) Shares Gap Down – What’s Next?

Matador Resources Company (NYSE:MTDR)’s stock price gapped down prior to trading on Monday . The stock had previously closed at $54.05, but opened at $51.09. Matador Resources shares last traded at $51.5450, with a volume of 180,158 shares traded.

Analyst Ratings Changes

MTDR has been the topic of several research reports. Citigroup cut their price target on shares of Matador Resources from $77.00 to $72.00 and set a “buy” rating on the stock in a report on Tuesday, May 26th. BMO Capital Markets raised their price objective on shares of Matador Resources from $65.00 to $72.00 and gave the stock an “outperform” rating in a research note on Monday, April 6th. Roth Mkm reaffirmed a “neutral” rating and set a $65.00 price objective (up from $52.00) on shares of Matador Resources in a research note on Wednesday, April 8th. KeyCorp increased their target price on Matador Resources from $61.00 to $73.00 and gave the company an “overweight” rating in a research report on Thursday, April 2nd. Finally, TD Cowen increased their target price on Matador Resources from $60.00 to $65.00 and gave the company a “buy” rating in a research report on Tuesday, March 17th. Ten equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $65.08.

Matador Resources Stock Down 4.1%

The stock has a market cap of $6.44 billion, a PE ratio of 13.35 and a beta of 0.75. The company has a current ratio of 0.73, a quick ratio of 0.70 and a debt-to-equity ratio of 0.59. The business has a 50-day moving average price of $58.08 and a 200-day moving average price of $51.48.

Matador Resources (NYSE:MTDR) last announced its quarterly earnings data on Wednesday, May 6th. The energy company reported $1.53 earnings per share for the quarter, beating analysts’ consensus estimates of $1.24 by $0.29. The company had revenue of $941.60 million for the quarter, compared to analyst estimates of $871.57 million. Matador Resources had a return on equity of 11.20% and a net margin of 14.41%.The firm’s revenue for the quarter was down 33.8% on a year-over-year basis. During the same quarter last year, the firm posted $1.99 EPS. As a group, analysts forecast that Matador Resources Company will post 7.5 earnings per share for the current year.

Matador Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Friday, May 8th were issued a $0.375 dividend. The ex-dividend date was Friday, May 8th. This represents a $1.50 dividend on an annualized basis and a yield of 2.9%. Matador Resources’s dividend payout ratio (DPR) is presently 38.56%.

Insider Buying and Selling at Matador Resources

In other news, CFO Christopher P. Calvert acquired 1,500 shares of the firm’s stock in a transaction on Friday, May 29th. The shares were bought at an average price of $53.24 per share, for a total transaction of $79,860.00. Following the acquisition, the chief financial officer owned 41,500 shares of the company’s stock, valued at approximately $2,209,460. This trade represents a 3.75% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, COO Glenn W. Stetson acquired 500 shares of the firm’s stock in a transaction on Tuesday, June 9th. The stock was purchased at an average price of $53.41 per share, for a total transaction of $26,705.00. Following the acquisition, the chief operating officer directly owned 95,470 shares in the company, valued at $5,099,052.70. This represents a 0.53% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last 90 days, insiders have bought 11,907 shares of company stock worth $635,712. Corporate insiders own 5.90% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Carlson Capital L.P. raised its holdings in shares of Matador Resources by 73.1% during the 1st quarter. Carlson Capital L.P. now owns 33,757 shares of the energy company’s stock worth $2,133,000 after acquiring an additional 14,257 shares during the period. Norris Financial Group LLC acquired a new stake in shares of Matador Resources during the 1st quarter worth about $250,000. Cim Investment Management Inc. acquired a new stake in shares of Matador Resources during the 1st quarter worth about $264,000. Altshuler Shaham Ltd increased its position in shares of Matador Resources by 36.7% during the 1st quarter. Altshuler Shaham Ltd now owns 748 shares of the energy company’s stock worth $47,000 after purchasing an additional 201 shares during the last quarter. Finally, Smith Group Asset Management LLC increased its position in shares of Matador Resources by 78.2% during the 1st quarter. Smith Group Asset Management LLC now owns 12,571 shares of the energy company’s stock worth $794,000 after purchasing an additional 5,515 shares during the last quarter. Hedge funds and other institutional investors own 91.98% of the company’s stock.

About Matador Resources

Matador Resources Company is an independent energy firm primarily engaged in the exploration, development and production of oil, natural gas liquids (NGLs) and natural gas. The company focuses on upstream operations, utilizing horizontal drilling and hydraulic fracturing techniques to unlock hydrocarbons from key reservoirs. Its asset base includes both operated and non‐operated positions, with a particular emphasis on the Permian Basin, one of the most prolific oil-producing regions in North America.

Matador’s core operations are concentrated in the Delaware Basin segment of the Permian Basin, where it holds substantial acreage in both Reeves and Culberson counties in West Texas and Eddy and Lea counties in New Mexico.