Matador Resources (NYSE:MTDR) Shares Gap Down – What’s Next?

Matador Resources Company (NYSE:MTDR)’s share price gapped down before the market opened on Friday . The stock had previously closed at $58.90, but opened at $55.27. Matador Resources shares last traded at $53.1340, with a volume of 359,975 shares traded.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on MTDR. Morgan Stanley cut their price objective on Matador Resources from $56.00 to $52.00 and set an “equal weight” rating on the stock in a research report on Friday, January 23rd. Wells Fargo & Company upped their price objective on Matador Resources from $54.00 to $63.00 and gave the stock an “equal weight” rating in a research report on Thursday. Truist Financial began coverage on Matador Resources in a research report on Tuesday, March 24th. They set a “hold” rating and a $60.00 price objective on the stock. Citigroup upped their price objective on Matador Resources from $62.00 to $77.00 and gave the stock a “buy” rating in a research report on Tuesday, March 31st. Finally, UBS Group upped their price objective on Matador Resources from $50.00 to $52.00 and gave the stock a “neutral” rating in a research report on Thursday, March 5th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $62.62.

Matador Resources Trading Down 5.7%

The company has a debt-to-equity ratio of 0.57, a current ratio of 0.79 and a quick ratio of 0.75. The business’s 50 day moving average is $56.03 and its 200 day moving average is $47.16. The stock has a market cap of $6.90 billion, a price-to-earnings ratio of 9.11 and a beta of 0.91.

Matador Resources (NYSE:MTDR) last issued its quarterly earnings data on Tuesday, February 24th. The energy company reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.16. Matador Resources had a return on equity of 12.36% and a net margin of 20.54%.The company had revenue of $847.99 million for the quarter, compared to analyst estimates of $811.13 million. During the same quarter last year, the company posted $1.83 earnings per share. The business’s quarterly revenue was down 15.7% compared to the same quarter last year. As a group, equities analysts expect that Matador Resources Company will post 8.53 earnings per share for the current fiscal year.

Matador Resources Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 10th. Stockholders of record on Friday, February 27th were issued a $0.375 dividend. This represents a $1.50 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend was Friday, February 27th. Matador Resources’s payout ratio is presently 24.59%.

Institutional Investors Weigh In On Matador Resources

Hedge funds have recently made changes to their positions in the business. Kestra Investment Management LLC boosted its stake in shares of Matador Resources by 225.2% during the second quarter. Kestra Investment Management LLC now owns 517 shares of the energy company’s stock worth $25,000 after buying an additional 358 shares during the period. Rothschild Investment LLC boosted its stake in shares of Matador Resources by 5,927.3% during the third quarter. Rothschild Investment LLC now owns 663 shares of the energy company’s stock worth $30,000 after buying an additional 652 shares during the period. Measured Wealth Private Client Group LLC acquired a new stake in shares of Matador Resources during the third quarter worth about $35,000. Gilpin Wealth Management LLC acquired a new stake in shares of Matador Resources during the fourth quarter worth about $42,000. Finally, Geneos Wealth Management Inc. boosted its stake in shares of Matador Resources by 361.3% during the first quarter. Geneos Wealth Management Inc. now owns 881 shares of the energy company’s stock worth $45,000 after buying an additional 690 shares during the period. Institutional investors and hedge funds own 91.98% of the company’s stock.

Matador Resources Company Profile

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.