Matador Resources Company (NYSE:MTDR) Short Interest Down 14.6% in April

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

Matador Resources Stock Down 1.7%

Shares of NYSE:MTDR traded down $1.10 during midday trading on Friday, reaching $62.34. The company’s stock had a trading volume of 1,081,140 shares, compared to its average volume of 1,589,668. The firm has a 50 day moving average of $58.26 and a 200-day moving average of $48.16. The firm has a market capitalization of $7.75 billion, a P/E ratio of 10.22, a PEG ratio of 1.96 and a beta of 0.81. The company has a quick ratio of 0.75, a current ratio of 0.79 and a debt-to-equity ratio of 0.57. Matador Resources has a 12-month low of $37.14 and a 12-month high of $66.84.

Matador Resources (NYSE:MTDR) last announced its quarterly earnings data on Tuesday, February 24th. The energy company reported $0.87 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $811.13 million. During the same period in the prior year, the firm posted $1.83 EPS. Matador Resources’s revenue for the quarter was down 15.7% on a year-over-year basis. On average, research analysts anticipate that Matador Resources will post 7.34 earnings per share for the current year.

Matador Resources Dividend Announcement

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

Institutional Trading of Matador Resources

Several institutional investors have recently bought and sold shares of the company. CIBC Bancorp USA Inc. bought a new position in Matador Resources during the 3rd quarter valued at about $61,615,000. Wellington Management Group LLP lifted its stake in Matador Resources by 65.0% during the 4th quarter. Wellington Management Group LLP now owns 3,406,182 shares of the energy company’s stock valued at $144,558,000 after acquiring an additional 1,342,145 shares during the period. Encompass Capital Advisors LLC bought a new position in Matador Resources during the 4th quarter valued at about $53,249,000. Balyasny Asset Management L.P. lifted its stake in Matador Resources by 2,495.0% during the 4th quarter. Balyasny Asset Management L.P. now owns 552,856 shares of the energy company’s stock valued at $23,463,000 after acquiring an additional 531,551 shares during the period. Finally, Vaughan Nelson Investment Management L.P. lifted its stake 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 valued at $49,459,000 after acquiring an additional 431,010 shares during the period. 91.98% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MTDR has been the topic of a number of recent research reports. Weiss Ratings raised shares of Matador Resources from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday. Truist Financial initiated 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 on the stock. Zacks Research raised shares of Matador Resources from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, April 8th. Morgan Stanley reduced their target price on shares of 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. Finally, Wells Fargo & Company upped their target price on shares of Matador Resources from $54.00 to $63.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 16th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $62.62.

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.