Matador Resources (NYSE:MTDR) Stock Price Down 3.1% - Here's Why

Matador Resources (NYSE:MTDR - Get Free Report) shares dropped 3.1% on Monday . The stock traded as low as $49.86 and last traded at $50.21. Approximately 190,179 shares traded hands during mid-day trading, a decline of 88% from the average daily volume of 1,527,992 shares. The stock had previously closed at $51.83.

Analysts Set New Price Targets

MTDR has been the subject of a number of recent research reports. Wolfe Research began coverage on shares of Matador Resources in a research report on Thursday, July 18th. They set a "peer perform" rating for the company. BMO Capital Markets boosted their price target on Matador Resources from $75.00 to $78.00 and gave the company an "outperform" rating in a report on Friday, October 4th. JPMorgan Chase & Co. decreased their price objective on Matador Resources from $83.00 to $76.00 and set an "overweight" rating on the stock in a research note on Thursday, September 12th. Truist Financial cut their price objective on Matador Resources from $86.00 to $75.00 and set a "buy" rating for the company in a research note on Monday, September 30th. Finally, Wells Fargo & Company decreased their target price on shares of Matador Resources from $89.00 to $87.00 and set an "overweight" rating on the stock in a research note on Tuesday, October 1st. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Matador Resources presently has a consensus rating of "Moderate Buy" and an average price target of $75.31.

Matador Resources Trading Down 2.2 %

The stock has a market cap of $6.33 billion, a P/E ratio of 6.71 and a beta of 3.26. The stock's 50-day moving average is $52.61 and its two-hundred day moving average is $57.91. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.88 and a quick ratio of 0.84.

Matador Resources (NYSE:MTDR - Get Free Report) last released its quarterly earnings data on Tuesday, October 22nd. The energy company reported $1.89 EPS for the quarter, beating the consensus estimate of $1.78 by $0.11. Matador Resources had a net margin of 27.45% and a return on equity of 20.01%. The business had revenue of $770.20 million during the quarter, compared to the consensus estimate of $836.69 million. During the same quarter in the prior year, the firm earned $1.86 EPS. The business's revenue was up 9.8% on a year-over-year basis. Equities research analysts anticipate that Matador Resources will post 7.42 EPS for the current year.

Matador Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 15th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.97%. This is a boost from Matador Resources's previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Friday, November 15th. Matador Resources's dividend payout ratio is 10.60%.

Insider Activity

In other Matador Resources news, CEO Joseph Wm Foran purchased 2,000 shares of the firm's stock in a transaction that occurred on Friday, August 2nd. The shares were bought at an average price of $55.96 per share, with a total value of $111,920.00. Following the completion of the purchase, the chief executive officer now directly owns 35,251 shares in the company, valued at $1,972,645.96. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CEO Joseph Wm Foran acquired 2,000 shares of Matador Resources stock in a transaction on Friday, August 2nd. The shares were bought at an average cost of $55.96 per share, with a total value of $111,920.00. Following the completion of the purchase, the chief executive officer now directly owns 35,251 shares of the company's stock, valued at $1,972,645.96. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Robert Gaines Baty acquired 500 shares of the stock in a transaction dated Friday, September 13th. The stock was bought at an average cost of $50.58 per share, with a total value of $25,290.00. Following the completion of the purchase, the director now directly owns 67,617 shares in the company, valued at approximately $3,420,067.86. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 12,300 shares of company stock worth $634,615. 6.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of MTDR. Boston Trust Walden Corp purchased a new position in Matador Resources during the 3rd quarter valued at $51,788,000. Element Capital Management LLC bought a new stake in shares of Matador Resources during the first quarter valued at approximately $28,572,000. Dimensional Fund Advisors LP boosted its holdings in shares of Matador Resources by 8.1% in the second quarter. Dimensional Fund Advisors LP now owns 4,734,819 shares of the energy company's stock valued at $282,196,000 after purchasing an additional 356,506 shares during the period. Los Angeles Capital Management LLC bought a new position in Matador Resources in the second quarter worth approximately $18,747,000. Finally, Yaupon Capital Management LP purchased a new position in Matador Resources during the 1st quarter worth $17,874,000. Institutional investors own 91.98% of the company's stock.

Matador Resources Company Profile

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.