Matador Resources (NYSE:MTDR) Sets New 12-Month Low on Analyst Downgrade

Matador Resources (NYSE:MTDR - Get Free Report)'s stock price reached a new 52-week low during trading on Thursday after Stephens lowered their price target on the stock from $90.00 to $86.00. Stephens currently has an overweight rating on the stock. Matador Resources traded as low as $35.19 and last traded at $42.58, with a volume of 4463292 shares traded. The stock had previously closed at $36.67.

Several other research firms have also issued reports on MTDR. Royal Bank of Canada lowered their target price on shares of Matador Resources from $70.00 to $62.00 and set an "outperform" rating for the company in a report on Friday. Raymond James reduced their price target on Matador Resources from $77.00 to $67.00 and set an "outperform" rating for the company in a report on Monday, March 10th. Wolfe Research raised shares of Matador Resources from a "peer perform" rating to an "outperform" rating and set a $72.00 price objective on the stock in a research report on Friday, January 3rd. Truist Financial upped their target price on shares of Matador Resources from $75.00 to $80.00 and gave the stock a "buy" rating in a research note on Monday, January 13th. Finally, Wells Fargo & Company lowered their price objective on Matador Resources from $90.00 to $87.00 and set an "overweight" rating on the stock in a research report on Tuesday, March 25th. One research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, Matador Resources presently has an average rating of "Moderate Buy" and an average price target of $73.36.

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Insider Activity at Matador Resources

In other news, CAO Robert T. Macalik bought 1,200 shares of the stock in a transaction that occurred on Wednesday, March 5th. The shares were bought at an average price of $47.98 per share, for a total transaction of $57,576.00. Following the purchase, the chief accounting officer now owns 31,000 shares in the company, valued at $1,487,380. This represents a 4.03 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, Director Paul W. Harvey purchased 600 shares of the firm's stock in a transaction on Friday, February 21st. The shares were acquired at an average cost of $55.20 per share, for a total transaction of $33,120.00. Following the completion of the acquisition, the director now owns 27,917 shares of the company's stock, valued at approximately $1,541,018.40. This trade represents a 2.20 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 21,350 shares of company stock worth $1,100,769. Corporate insiders own 6.10% of the company's stock.

Institutional Trading of Matador Resources

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. TCTC Holdings LLC raised its position in shares of Matador Resources by 53.8% during the fourth quarter. TCTC Holdings LLC now owns 500 shares of the energy company's stock valued at $28,000 after buying an additional 175 shares during the last quarter. MassMutual Private Wealth & Trust FSB lifted its stake in Matador Resources by 68.3% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 510 shares of the energy company's stock worth $29,000 after purchasing an additional 207 shares in the last quarter. Atria Investments Inc grew its position in shares of Matador Resources by 3.1% during the fourth quarter. Atria Investments Inc now owns 8,188 shares of the energy company's stock valued at $461,000 after purchasing an additional 249 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in shares of Matador Resources by 108.5% during the fourth quarter. EverSource Wealth Advisors LLC now owns 492 shares of the energy company's stock valued at $28,000 after purchasing an additional 256 shares in the last quarter. Finally, Arizona State Retirement System increased its holdings in shares of Matador Resources by 0.8% in the fourth quarter. Arizona State Retirement System now owns 34,413 shares of the energy company's stock worth $1,936,000 after purchasing an additional 280 shares during the last quarter. Institutional investors own 91.98% of the company's stock.

Matador Resources Stock Down 0.4 %

The business has a 50-day moving average of $49.60 and a 200 day moving average of $54.12. The company has a market capitalization of $4.89 billion, a PE ratio of 5.47 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.

Matador Resources (NYSE:MTDR - Get Free Report) last issued its quarterly earnings data 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 return on equity of 18.52% and a net margin of 25.26%. Equities research analysts predict that Matador Resources will post 8.53 earnings per share for the current year.

Matador Resources Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were given a $0.3125 dividend. The ex-dividend date of this dividend was Friday, February 28th. This is an increase from Matador Resources's previous quarterly dividend of $0.25. This represents a $1.25 dividend on an annualized basis and a yield of 3.20%. Matador Resources's dividend payout ratio (DPR) is currently 17.51%.

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.