Matador Resources (NYSE:MTDR) Stock Price Down 3.5%

Matador Resources Co (NYSE:MTDR) shares dropped 3.5% on Thursday . The stock traded as low as $13.92 and last traded at $13.54, approximately 1,629,786 shares changed hands during trading. A decline of 51% from the average daily volume of 3,299,300 shares. The stock had previously closed at $14.03.

A number of brokerages have commented on MTDR. JPMorgan Chase & Co. raised shares of Matador Resources from a “neutral” rating to an “overweight” rating and reduced their target price for the company from $28.00 to $26.00 in a report on Friday, June 7th. Wells Fargo & Co set a $33.00 target price on shares of Matador Resources and gave the company a “hold” rating in a report on Thursday, July 11th. MKM Partners raised shares of Matador Resources from a “neutral” rating to a “buy” rating and set a $22.00 target price for the company in a report on Tuesday, May 28th. Stifel Nicolaus set a $24.00 target price on shares of Matador Resources and gave the company a “buy” rating in a report on Monday. Finally, ValuEngine raised shares of Matador Resources from a “strong sell” rating to a “sell” rating in a report on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and eleven have issued a buy rating to the company’s stock. Matador Resources presently has a consensus rating of “Buy” and an average target price of $31.47.

The firm has a market capitalization of $1.80 billion, a PE ratio of 8.48, a PEG ratio of 0.80 and a beta of 1.96. The stock’s fifty day simple moving average is $17.53 and its 200 day simple moving average is $18.47. The company has a quick ratio of 0.75, a current ratio of 0.81 and a debt-to-equity ratio of 0.81.

Matador Resources (NYSE:MTDR) last posted its quarterly earnings results on Wednesday, July 31st. The energy company reported $0.30 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.19 by $0.11. The business had revenue of $241.70 million during the quarter, compared to analyst estimates of $210.42 million. Matador Resources had a net margin of 19.10% and a return on equity of 8.71%. The company’s revenue was up 14.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.41 earnings per share. On average, analysts predict that Matador Resources Co will post 1.12 EPS for the current year.

In other news, Chairman Joseph Wm Foran purchased 8,000 shares of the company’s stock in a transaction on Wednesday, August 14th. The stock was acquired at an average cost of $14.14 per share, for a total transaction of $113,120.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kenneth L. Stewart purchased 5,000 shares of the company’s stock in a transaction on Friday, May 24th. The stock was purchased at an average price of $17.76 per share, with a total value of $88,800.00. Following the completion of the transaction, the director now owns 37,532 shares of the company’s stock, valued at $666,568.32. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 36,150 shares of company stock valued at $563,568. Company insiders own 6.90% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of MTDR. Tower Research Capital LLC TRC bought a new position in shares of Matador Resources during the second quarter worth $30,000. Private Capital Group LLC boosted its position in shares of Matador Resources by 91.5% during the first quarter. Private Capital Group LLC now owns 2,242 shares of the energy company’s stock worth $43,000 after acquiring an additional 1,071 shares during the last quarter. Marshall Wace LLP bought a new position in shares of Matador Resources during the first quarter worth $74,000. Zions Bancorporation N.A. bought a new position in shares of Matador Resources during the first quarter worth $91,000. Finally, Starr International Co. Inc. bought a new position in shares of Matador Resources during the first quarter worth $192,000. Institutional investors and hedge funds own 94.87% of the company’s stock.

About Matador Resources (NYSE:MTDR)

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 in 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.

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