Matador Resources (NYSE:MTDR) Shares Down 5.1% – Time to Sell?

Matador Resources Company (NYSE:MTDR)’s share price dropped 5.1% during trading on Thursday . The stock traded as low as $56.59 and last traded at $56.5010. Approximately 1,977,226 shares traded hands during mid-day trading, an increase of 6% from the average daily volume of 1,856,591 shares. The stock had previously closed at $59.52.

Analyst Ratings Changes

MTDR has been the topic of several research reports. Roth Mkm reiterated a “neutral” rating and issued a $65.00 price target (up from $52.00) on shares of Matador Resources in a research report on Wednesday, April 8th. TD Cowen boosted their price target on shares of Matador Resources from $60.00 to $65.00 and gave the stock a “buy” rating in a research report on Tuesday, March 17th. Wells Fargo & Company boosted their price target on shares of Matador Resources from $54.00 to $63.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 16th. Zacks Research upgraded shares of Matador Resources from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, April 8th. Finally, BMO Capital Markets boosted their price target on shares of Matador Resources from $65.00 to $72.00 and gave the stock an “outperform” rating in a research report on Monday, April 6th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $63.46.

Matador Resources Stock Down 5.7%

The company has a quick ratio of 0.70, a current ratio of 0.73 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $6.97 billion, a PE ratio of 14.43 and a beta of 0.81. The business’s 50 day simple moving average is $59.63 and its 200 day simple moving average is $49.70.

Matador Resources (NYSE:MTDR) last posted its quarterly earnings data on Wednesday, May 6th. The energy company reported $1.53 EPS for the quarter, beating analysts’ consensus estimates of $1.24 by $0.29. Matador Resources had a net margin of 14.41% and a return on equity of 11.20%. The company had revenue of $941.60 million during the quarter, compared to analyst estimates of $871.57 million. During the same period in the prior year, the firm earned $1.99 earnings per share. The business’s quarterly revenue was down 33.8% on a year-over-year basis. As a group, analysts forecast that Matador Resources Company will post 7.42 EPS for the current year.

Matador Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 5th. Shareholders of record on Friday, May 8th will be paid a dividend of $0.375 per share. The ex-dividend date of this dividend is Friday, May 8th. This represents a $1.50 dividend on an annualized basis and a yield of 2.7%. Matador Resources’s dividend payout ratio is currently 38.56%.

Institutional Trading of Matador Resources

A number of hedge funds have recently made changes to their positions in MTDR. Jones Financial Companies Lllp lifted its position in shares of Matador Resources by 1,104.8% in the first quarter. Jones Financial Companies Lllp now owns 2,012 shares of the energy company’s stock worth $103,000 after purchasing an additional 1,845 shares in the last quarter. Geneos Wealth Management Inc. lifted its position in shares of Matador Resources by 361.3% in the first quarter. Geneos Wealth Management Inc. now owns 881 shares of the energy company’s stock worth $45,000 after purchasing an additional 690 shares in the last quarter. Sivia Capital Partners LLC purchased a new stake in shares of Matador Resources in the second quarter worth approximately $255,000. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Matador Resources in the second quarter worth approximately $5,126,000. Finally, EverSource Wealth Advisors LLC lifted its position in shares of Matador Resources by 767.3% in the second quarter. EverSource Wealth Advisors LLC now owns 3,261 shares of the energy company’s stock worth $156,000 after purchasing an additional 2,885 shares in the last quarter. 91.98% of the stock is owned by hedge funds and other institutional investors.

Matador Resources Company Profile

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.