Matador Resources Company (NYSE:MTDR) Sees Significant Decrease in Short Interest

by · The Cerbat Gem

Matador Resources Company (NYSE:MTDRGet Free Report) was the target of a significant drop in short interest in April. As of April 15th, there was short interest totaling 8,285,747 shares, a drop of 14.6% from the March 31st total of 9,701,569 shares. Currently, 7.1% of the company’s stock are short sold. Based on an average daily volume of 1,674,105 shares, the short-interest ratio is presently 4.9 days.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on MTDR shares. Roth Mkm reaffirmed a “neutral” rating and issued a $65.00 target price (up from $52.00) on shares of Matador Resources in a research report on Wednesday, April 8th. Wells Fargo & Company raised their target price on shares of Matador Resources from $54.00 to $63.00 and gave the company an “equal weight” rating in a research report on Thursday, April 16th. Truist Financial assumed coverage on shares of Matador Resources in a research report on Tuesday, March 24th. They issued a “hold” rating and a $60.00 target price for the company. Royal Bank Of Canada decreased their price objective on shares of Matador Resources from $62.00 to $60.00 and set an “outperform” rating for the company in a research report on Tuesday, January 13th. Finally, KeyCorp lifted their price objective on shares of Matador Resources from $61.00 to $73.00 and gave the company an “overweight” rating in a research report on Thursday, April 2nd. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $62.62.

Get Our Latest Research Report on MTDR

Matador Resources Stock Performance

Shares of MTDR traded down $1.10 during midday trading on Friday, reaching $62.34. The stock had a trading volume of 1,081,140 shares, compared to its average volume of 1,896,308. The firm has a 50 day simple moving average of $58.26 and a 200-day simple moving average of $48.16. Matador Resources has a one year low of $37.14 and a one year high of $66.84. The firm has a market cap of $7.75 billion, a PE ratio of 10.22, a P/E/G ratio of 1.95 and a beta of 0.91. The company has a current ratio of 0.79, a quick ratio of 0.75 and a debt-to-equity ratio of 0.57.

Matador Resources (NYSE:MTDRGet Free Report) last announced its quarterly earnings data on Tuesday, February 24th. The energy company reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.71 by $0.16. Matador Resources had a net margin of 20.54% and a return on equity of 12.36%. The company had revenue of $809.55 million during the quarter, compared to the consensus estimate of $811.13 million. During the same quarter last year, the firm posted $1.83 EPS. The company’s quarterly revenue was down 15.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Matador Resources will post 7.34 EPS for the current year.

Matador Resources Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 5th. Investors of record on Friday, May 8th will be issued a dividend of $0.375 per share. The ex-dividend date of this dividend is Friday, May 8th. This represents a $1.50 annualized dividend and a dividend yield of 2.4%. Matador Resources’s payout ratio is presently 24.59%.

Institutional Trading of Matador Resources

Several hedge funds and other institutional investors have recently modified their holdings of MTDR. Harbor Capital Advisors Inc. grew its holdings in Matador Resources by 184.9% during the 4th quarter. Harbor Capital Advisors Inc. now owns 30,836 shares of the energy company’s stock worth $1,309,000 after acquiring an additional 20,011 shares during the last quarter. Vaughan Nelson Investment Management L.P. grew its holdings in Matador Resources by 64.3% during the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 1,100,805 shares of the energy company’s stock worth $49,459,000 after acquiring an additional 431,010 shares during the last quarter. Thrivent Financial for Lutherans grew its holdings in Matador Resources by 3.8% during the 3rd quarter. Thrivent Financial for Lutherans now owns 1,032,602 shares of the energy company’s stock worth $46,395,000 after acquiring an additional 37,889 shares during the last quarter. Neo Ivy Capital Management bought a new stake in Matador Resources during the 3rd quarter worth approximately $871,000. Finally, Aquatic Capital Management LLC grew its holdings in Matador Resources by 264.8% during the 3rd quarter. Aquatic Capital Management LLC now owns 111,727 shares of the energy company’s stock worth $5,020,000 after acquiring an additional 81,102 shares during the last quarter. Institutional investors own 91.98% of the company’s stock.

Matador Resources Company Profile

(Get Free Report)

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.

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