Matador Resources (NYSE:MTDR) Stock Price Down 4.6% – Time to Sell?

Matador Resources Company (NYSE:MTDR)’s stock price traded down 4.6% during trading on Wednesday . The stock traded as low as $60.22 and last traded at $60.2760. Approximately 82,406 shares traded hands during mid-day trading, a decline of 96% from the average daily volume of 1,886,850 shares. The stock had previously closed at $63.17.

Analyst Ratings Changes

MTDR has been the topic of several analyst reports. Wall Street Zen raised Matador Resources from a “hold” rating to a “buy” rating in a research report on Saturday, August 15th. Roth Capital raised Matador Resources from a “neutral” rating to a “buy” rating and set a $65.00 price objective for the company in a report on Monday, June 22nd. Stifel Nicolaus began coverage on Matador Resources in a research note on Thursday, September 10th. They issued a “buy” rating and a $66.00 target price on the stock. Morgan Stanley dropped their target price on Matador Resources from $75.00 to $66.00 and set an “equal weight” rating on the stock in a report on Monday, June 29th. Finally, Mizuho upgraded Matador Resources to a “strong-buy” rating in a research report on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $66.80.

Matador Resources Stock Up 0.0%

The company has a debt-to-equity ratio of 0.67, a current ratio of 0.65 and a quick ratio of 0.62. The business’s fifty day simple moving average is $54.69 and its two-hundred day simple moving average is $55.89. The company has a market cap of $7.15 billion, a PE ratio of 9.91 and a beta of 0.79.

Matador Resources (NYSE:MTDR) last posted its earnings results on Wednesday, August 5th. The energy company reported $2.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.08 by $0.53. Matador Resources had a net margin of 19.85% and a return on equity of 13.18%. The business had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.06 billion. During the same period in the prior year, the company posted $1.53 EPS. The company’s revenue for the quarter was up 32.5% on a year-over-year basis. On average, analysts predict that Matador Resources Company will post 7.39 earnings per share for the current year.

Matador Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 8th. Investors of record on Monday, August 10th were issued a $0.375 dividend. The ex-dividend date of this dividend was Monday, August 10th. This represents a $1.50 dividend on an annualized basis and a yield of 2.6%. Matador Resources’s dividend payout ratio is presently 25.73%.

Insiders Place Their Bets

In other Matador Resources news, CFO Christopher P. Calvert bought 2,500 shares of Matador Resources stock in a transaction dated Thursday, August 27th. The stock was acquired at an average cost of $56.64 per share, with a total value of $141,600.00. Following the purchase, the chief financial officer directly owned 44,000 shares in the company, valued at $2,492,160. This represents a 6.02% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP William Elsener bought 850 shares of the firm’s stock in a transaction dated Monday, August 10th. The shares were acquired at an average price of $50.94 per share, for a total transaction of $43,299.00. Following the transaction, the executive vice president directly owned 114,879 shares in the company, valued at approximately $5,851,936.26. This represents a 0.75% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders have acquired 23,144 shares of company stock worth $1,211,793. 5.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Matador Resources

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. purchased a new stake in shares of Matador Resources during the second quarter worth approximately $573,936,000. Encompass Capital Advisors LLC purchased a new position in Matador Resources in the 4th quarter valued at $53,249,000. Bank of New York Mellon Corp purchased a new position in Matador Resources in the 2nd quarter valued at $56,161,000. Bank of America Corp DE acquired a new stake in Matador Resources during the 2nd quarter worth $42,184,000. Finally, Value Holdings Management CO. LLC acquired a new stake in Matador Resources during the 2nd quarter worth $41,532,000. Hedge funds and other institutional investors own 91.98% of the company’s stock.

About Matador Resources

Matador Resources Company is an independent energy company engaged in the exploration, development, production and acquisition of oil, natural gas and natural gas liquids. The company focuses primarily on unconventional, horizontal drilling and development activities in the United States.

Matador’s principal operations are concentrated in the Delaware Basin, a sub-basin of the Permian Basin in southeastern New Mexico and West Texas. Its activities include drilling and completing wells, producing hydrocarbons, and managing mineral and leasehold interests associated with its development programs.

Through its midstream operations, including San Mateo Midstream, Matador also provides gathering, processing, transportation and water-handling services that support oil and natural gas production in the Delaware Basin.