Matador Resources (NYSE:MTDR) Reaches New 1-Year Low – Time to Sell?

Matador Resources (NYSE:MTDR)’s share price reached a new 52-week low during trading on Thursday . The stock traded as low as $35.19 and last traded at $42.58, with a volume of 4463292 shares changing hands. The stock had previously closed at $36.67.

Analyst Upgrades and Downgrades

Several research firms recently commented on MTDR. TD Cowen upped their target price on Matador Resources from $74.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Truist Financial upped their target price on Matador Resources from $75.00 to $80.00 and gave the company a “buy” rating in a research note on Monday, January 13th. JPMorgan Chase & Co. dropped their target price on Matador Resources from $76.00 to $65.00 and set an “overweight” rating for the company in a research note on Thursday, March 13th. Raymond James dropped their price target on Matador Resources from $77.00 to $67.00 and set an “outperform” rating for the company in a research note on Monday, March 10th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $70.00 price target on shares of Matador Resources in a research note on Wednesday, January 15th. One analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $73.79.

Matador Resources Price Performance

The stock has a market cap of $5.33 billion, a PE ratio of 5.96 and a beta of 2.74. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.93 and a quick ratio of 0.84. The business has a fifty day moving average of $50.75 and a 200 day moving average of $54.32.

Matador Resources (NYSE:MTDR) last issued its quarterly 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). The business 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%. Sell-side analysts anticipate that Matador Resources will post 8.53 earnings per share for the current year.

Matador Resources Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were issued a $0.3125 dividend. The ex-dividend date was Friday, February 28th. This represents a $1.25 dividend on an annualized basis and a yield of 2.94%. This is an increase from Matador Resources’s previous quarterly dividend of $0.25. Matador Resources’s dividend payout ratio is currently 17.51%.

Insider Activity at Matador Resources

In other news, EVP Glenn W. Stetson acquired 1,000 shares of the business’s stock in a transaction on Friday, February 21st. The shares were purchased at an average price of $53.06 per share, for a total transaction of $53,060.00. Following the completion of the purchase, the executive vice president now directly owns 91,680 shares of the company’s stock, valued at $4,864,540.80. This represents a 1.10 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Paul W. Harvey acquired 600 shares of the business’s stock in a transaction on Friday, February 21st. The shares were purchased at an average price of $55.20 per share, for a total transaction of $33,120.00. Following the purchase, the director now directly owns 27,917 shares of the company’s stock, valued at $1,541,018.40. This represents a 2.20 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 21,350 shares of company stock valued at $1,100,769. Insiders own 6.10% of the company’s stock.

Institutional Trading of Matador Resources

Institutional investors and hedge funds have recently bought and sold shares of the company. Franklin Resources Inc. raised its position in shares of Matador Resources by 12.0% during the 3rd quarter. Franklin Resources Inc. now owns 1,008,421 shares of the energy company’s stock worth $54,122,000 after purchasing an additional 107,827 shares during the period. Stifel Financial Corp increased its position in Matador Resources by 81.2% in the 3rd quarter. Stifel Financial Corp now owns 30,304 shares of the energy company’s stock valued at $1,498,000 after acquiring an additional 13,583 shares during the period. Allspring Global Investments Holdings LLC increased its position in Matador Resources by 16.9% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 139,254 shares of the energy company’s stock valued at $8,088,000 after acquiring an additional 20,172 shares during the period. Charles Schwab Investment Management Inc. increased its position in Matador Resources by 3.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,491,570 shares of the energy company’s stock valued at $83,916,000 after acquiring an additional 56,644 shares during the period. Finally, Shaker Investments LLC OH acquired a new stake in Matador Resources in the 4th quarter valued at approximately $546,000. 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.