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

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

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on MTDR shares. Truist Financial upped their price target on Matador Resources from $75.00 to $80.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Morgan Stanley started coverage on Matador Resources in a report on Friday, January 10th. They issued an “equal weight” rating and a $78.00 price target for the company. TD Cowen upped their price target on Matador Resources from $74.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Mizuho reduced their price target on Matador Resources from $74.00 to $73.00 and set an “outperform” rating for the company in a report on Monday, December 16th. Finally, Wells Fargo & Company increased 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 equities research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, Matador Resources presently has an average rating of “Moderate Buy” and an average price target of $75.14.

Matador Resources Stock Performance

The stock has a market capitalization of $5.72 billion, a PE ratio of 6.38 and a beta of 3.22. The stock has a fifty day moving average of $58.01 and a 200-day moving average of $55.71. The company has a quick ratio of 0.84, a current ratio of 0.93 and a debt-to-equity ratio of 0.61.

Matador Resources (NYSE:MTDR) last posted its earnings results on Tuesday, February 18th. The energy company reported $1.83 earnings per share for the quarter, missing the consensus estimate of $1.88 by ($0.05). The firm had revenue of $970.37 million during the quarter, compared to analysts’ expectations of $967.10 million. Matador Resources had a net margin of 25.26% and a return on equity of 18.52%. Equities analysts anticipate that Matador Resources will post 8.53 earnings per share for the current fiscal year.

Matador Resources Increases Dividend

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

Insider Buying and Selling

In other Matador Resources news, EVP William Thomas Elsener purchased 800 shares of Matador Resources stock in a transaction on Friday, December 13th. The shares were bought at an average price of $56.60 per share, with a total value of $45,280.00. Following the purchase, the executive vice president now directly owns 102,964 shares in the company, valued at $5,827,762.40. This trade represents a 0.78 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Joseph Wm Foran acquired 6,000 shares of the company’s stock in a transaction dated Friday, February 21st. The shares were purchased at an average price of $53.94 per share, with a total value of $323,640.00. Following the completion of the acquisition, the chief executive officer now owns 39,379 shares in the company, valued at approximately $2,124,103.26. The trade was a 17.98 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought a total of 20,330 shares of company stock worth $1,082,536 in the last quarter. Company insiders own 6.10% of the company’s stock.

Institutional Trading of Matador Resources

Large investors have recently added to or reduced their stakes in the stock. LSV Asset Management grew its stake in shares of Matador Resources by 262.0% during the fourth quarter. LSV Asset Management now owns 1,517,308 shares of the energy company’s stock valued at $85,364,000 after acquiring an additional 1,098,108 shares in the last quarter. Copeland Capital Management LLC lifted its position in shares of Matador Resources by 145.2% during the fourth quarter. Copeland Capital Management LLC now owns 1,283,743 shares of the energy company’s stock worth $72,223,000 after purchasing an additional 760,122 shares during the last quarter. Webs Creek Capital Management LP bought a new position in shares of Matador Resources during the fourth quarter worth about $37,894,000. Yaupon Capital Management LP lifted its position in shares of Matador Resources by 565.4% during the third quarter. Yaupon Capital Management LP now owns 744,037 shares of the energy company’s stock worth $36,770,000 after purchasing an additional 632,218 shares during the last quarter. Finally, Alliancebernstein L.P. lifted its position in shares of Matador Resources by 25.9% during the fourth quarter. Alliancebernstein L.P. now owns 2,698,606 shares of the energy company’s stock worth $151,824,000 after purchasing an additional 555,245 shares during the last quarter. 91.98% of the stock is currently owned by institutional investors and hedge funds.

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.