Matador Resources (NYSE:MTDR) Shares Gap Down to $68.55

Shares of Matador Resources (NYSE:MTDR) gapped down prior to trading on Tuesday . The stock had previously closed at $68.55, but opened at $66.40. Matador Resources shares last traded at $66.33, with a volume of 685,314 shares changing hands.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on MTDR. TD Cowen increased their target price on Matador Resources from $64.00 to $72.00 and gave the company an “outperform” rating in a report on Monday, March 4th. Mizuho increased their target price on Matador Resources from $67.00 to $76.00 and gave the stock a “buy” rating in a research report on Monday, March 18th. Raymond James cut their target price on Matador Resources from $76.00 to $70.00 and set an “outperform” rating for the company in a research report on Monday, January 8th. KeyCorp cut their target price on Matador Resources from $76.00 to $71.00 and set an “overweight” rating for the company in a research report on Thursday, January 11th. Finally, StockNews.com upgraded Matador Resources from a “sell” rating to a “hold” rating in a report on Thursday, February 22nd. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, Matador Resources currently has an average rating of “Moderate Buy” and a consensus target price of $71.30.

Matador Resources Price Performance

The firm has a market capitalization of $7.82 billion, a P/E ratio of 9.28 and a beta of 3.33. The firm has a 50 day moving average price of $60.20 and a 200-day moving average price of $59.00. The company has a current ratio of 1.04, a quick ratio of 0.98 and a debt-to-equity ratio of 0.53.

Matador Resources (NYSE:MTDR) last posted its quarterly earnings data on Wednesday, February 21st. The energy company reported $1.99 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.04 by ($0.05). The company had revenue of $836.13 million during the quarter, compared to the consensus estimate of $842.96 million. Matador Resources had a net margin of 30.14% and a return on equity of 21.54%. Matador Resources’s revenue for the quarter was up 18.2% on a year-over-year basis. During the same period in the previous year, the business earned $2.08 earnings per share. On average, analysts expect that Matador Resources will post 6.72 earnings per share for the current year.

Matador Resources Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 13th. Investors of record on Friday, February 23rd were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date of this dividend was Thursday, February 22nd. Matador Resources’s dividend payout ratio is currently 11.35%.

Institutional Investors Weigh In On Matador Resources

A number of institutional investors and hedge funds have recently modified their holdings of MTDR. Invesco Ltd. lifted its stake in shares of Matador Resources by 82.9% during the 1st quarter. Invesco Ltd. now owns 4,367,715 shares of the energy company’s stock worth $231,403,000 after acquiring an additional 1,979,904 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in Matador Resources by 51.6% during the 2nd quarter. Goldman Sachs Group Inc. now owns 2,013,942 shares of the energy company’s stock worth $93,830,000 after purchasing an additional 685,220 shares during the period. Vanguard Group Inc. increased its holdings in Matador Resources by 4.8% during the 1st quarter. Vanguard Group Inc. now owns 12,422,915 shares of the energy company’s stock worth $658,165,000 after purchasing an additional 567,557 shares during the period. William Blair Investment Management LLC purchased a new position in Matador Resources during the 3rd quarter worth $33,720,000. Finally, Federated Hermes Inc. increased its holdings in Matador Resources by 77.1% during the 1st quarter. Federated Hermes Inc. now owns 1,256,513 shares of the energy company’s stock worth $66,570,000 after purchasing an additional 546,871 shares during the period. 91.98% of the stock is owned by institutional investors.

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.