Matador Resources (NYSE:MTDR) Shares Gap Down – Here’s What Happened

Matador Resources Company (NYSE:MTDR) shares 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 trading hands.

Analyst Upgrades and Downgrades

MTDR has been the subject of a number of research reports. Morgan Stanley boosted their price target on shares of Matador Resources from $73.00 to $75.00 and gave the company an “equal weight” rating in a research report on Friday, May 22nd. KeyCorp upped their target price on shares of Matador Resources from $61.00 to $73.00 and gave the company an “overweight” rating in a report on Thursday, April 2nd. Wells Fargo & Company upped their target price on shares of Matador Resources from $54.00 to $63.00 and gave the company an “equal weight” rating in a report on Thursday, April 16th. BMO Capital Markets upped their target price on shares of Matador Resources from $65.00 to $72.00 and gave the company an “outperform” rating in a report on Monday, April 6th. Finally, Mizuho upped their target price on shares of Matador Resources from $74.00 to $77.00 and gave the company an “outperform” rating in a report on Wednesday, May 27th. Ten equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, Matador Resources currently has a consensus rating of “Moderate Buy” and an average price target of $65.08.

Matador Resources Stock Down 1.6%

The business’s fifty day moving average price is $57.61 and its 200 day moving average price is $51.62. 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 firm has a market capitalization of $6.26 billion, a PE ratio of 12.95 and a beta of 0.74.

Matador Resources (NYSE:MTDR) last announced its earnings results 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 business had revenue of $941.60 million during the quarter, compared to analysts’ expectations of $871.57 million. During the same period in the prior year, the company earned $1.99 earnings per share. The business’s revenue was down 33.8% compared to the same quarter last year. On average, equities research analysts forecast that Matador Resources Company will post 7.5 earnings per share for the current fiscal year.

Matador Resources Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Friday, May 8th were issued a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend was Friday, May 8th. Matador Resources’s dividend payout ratio is currently 38.56%.

Insider Buying and Selling

In other news, COO Glenn W. Stetson purchased 500 shares of the business’s stock in a transaction that occurred on Tuesday, June 9th. The stock was purchased at an average cost of $53.41 per share, with a total value of $26,705.00. Following the completion of the acquisition, the chief operating officer directly owned 95,470 shares of the company’s stock, valued at approximately $5,099,052.70. This trade represents a 0.53% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Joseph Wm Foran purchased 4,675 shares of the business’s stock in a transaction that occurred on Wednesday, May 27th. The shares were purchased at an average cost of $52.36 per share, with a total value of $244,783.00. Following the completion of the acquisition, the chief executive officer directly owned 6,997 shares of the company’s stock, valued at $366,362.92. This represents a 201.34% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders bought 11,907 shares of company stock valued at $635,712 over the last ninety days. Corporate insiders own 5.90% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. CIBC Bancorp USA Inc. acquired a new position in Matador Resources during the third quarter worth about $61,615,000. Wellington Management Group LLP grew its position in Matador Resources by 65.0% during the fourth quarter. Wellington Management Group LLP now owns 3,406,182 shares of the energy company’s stock worth $144,558,000 after buying an additional 1,342,145 shares during the period. Encompass Capital Advisors LLC acquired a new position in Matador Resources during the fourth quarter worth about $53,249,000. First Trust Advisors LP grew its position in Matador Resources by 103.3% during the first quarter. First Trust Advisors LP now owns 1,595,415 shares of the energy company’s stock worth $100,798,000 after buying an additional 810,808 shares during the period. Finally, Balyasny Asset Management L.P. grew its position in Matador Resources by 2,495.0% during the fourth quarter. Balyasny Asset Management L.P. now owns 552,856 shares of the energy company’s stock worth $23,463,000 after buying an additional 531,551 shares during the period. 91.98% of the stock is owned by hedge funds and other institutional investors.

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.