BlackRock Fund Advisors recently announced the acquisition of new stake in Matador Resources Company (NYSE:MTDR). The institutional investor has increased its shareholding in the Energy company by 24.76% to 15.25 million shares with purchase of 3.03 million shares. This fresh investment now brings its stake to 13.05% valued currently at $132.37 million. In addition, The Vanguard Group, Inc. raised its holdings by 0.98 million to 11.5 million shares. And Silvercrest Asset Management Grou.. has lifted its position by 6.24% or 0.31 million shares – to 5.35 million shares.
With over 2.81 million Matador Resources Company (MTDR) shares trading Monday and a closing price of $9.73 on the day, the dollar volume was approximately $27.35 million. The shares have shown a positive weekly performance of 0.62% and its price on 08/31/20 lost nearly -2.51%. Currently, there are 116.07M common shares owned by the public and among those 109.93M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 16 analysts who have offered their price forecasts for MTDR have a consensus price objective of $12.10. The analysts have set the share’s price value over the next 12 months at a high of $16.00 and a low of $10.00 should the stock experience a downside. Incidentally, analysts’ outlook for the Matador Resources Company stock is 2.40 for the next 12 months. The average price target is 18.37% above its last price level and an upside to the estimated low will see the stock gain 2.7% over that period. But an upside of 39.19% will see the stock hit the forecast high price target while mean target price for the stock is $12.00.
Insiders at the company have transacted a total of 88 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 68 of these insider trades were purchases, accounting for 873,267 shares. Insider sales of the common stock occurred on 20 occasions, with total insider shares sold totaling 100,856 shares.
The top 3 mutual fund holders in Matador Resources Company are iShares Core S&P Small Cap ETF, SPDR S&P Oil & Gas Exploration &, and Vanguard Total Stock Market Index. iShares Core S&P Small Cap ETF owns 6.82 million shares of the company’s stock, all valued at over $59.2 million. The company bought an additional 24360.0 shares recently to bring their total holdings to about 5.84% of the shares outstanding. SPDR S&P Oil & Gas Exploration & sold 9782.0 shares to see its total holdings shrink to 4.15 million shares valued at over $36.04 million and representing 3.55% of the shares outstanding. Vanguard Total Stock Market Index sold 4486.0 shares to bring its total holdings to over 3.17 million shares at a value of $27.5 million. Vanguard Total Stock Market Index now owns shares totaling to 2.71% of the shares outstanding.
Shares of Matador Resources Company (NYSE: MTDR) opened at $9.91, down -$0.07 from a prior closing price of $9.98. However, the script later closed the day at $9.73, down -2.51%. The company’s stock has a 5-day price change of 0.62% and 11.58% over the past three months. MTDR shares are trading -45.85% year to date (YTD), with the 12-month market performance down to -37.83% lower. It has a 12-month low price of $1.11 and touched a high of $19.83 over the same period. Currently, 2.81 million shares have been traded, compared to an average intraday trading volume of 4.05 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 1.67%, 7.47%, and -3.33% respectively.
Institutional ownership of Matador Resources Company (NYSE: MTDR) shares accounts for 91.90% of the company’s 116.07M shares outstanding. Mutual fund holders own 42.62%, while other institutional holders and individual stakeholders account for 46.77% and 16.81% respectively.
It has a market capitalization of $1.13B and a beta (3y monthly) value of 4.83. The earnings-per-share (ttm) stands at -$1.39. Price movements for the stock have been influenced by the stock’s volatility, which stands at 4.41% over the week and 5.32% over the month.
Analysts forecast that Matador Resources Company (MTDR) will achieve an EPS of -$0.06 for the current quarter, $0.04 for the next quarter and $0.58 for 2021. The lowest estimate earnings-per-share for the quarter is -$0.18 while analysts give the company a high EPS estimate of $0.1. Comparatively, EPS for the current quarter was $0.32 a year ago. Earnings per share for the fiscal year are expected to decrease by -68.90%, and 340.16% over the next financial year. EPS should grow at an annualized rate of 10.40% over the next five years, compared to -13.70% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 16 brokerage firm advisors rate Matador Resources Company (MTDR) as a “Moderate Buy” at a consensus score of 2.40. Specifically, 6 Wall Street analysts polled rate the stock as a buy, while 9 of the 16 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the MTDR, a number of firms have released research notes about the stock. JP Morgan stated their Neutral rating for the stock in a research note on July 23, 2020, with the firm’s price target at. Cowen coverage for the Matador Resources Company (MTDR) stock in a research note released on July 22, 2020 offered a Outperform rating with a price target of $12.75. Stifel was of a view on July 20, 2020 that the stock is Buy, while Raymond James gave the stock Outperform rating on July 20, 2020, issuing a price target of $11. MKM Partners on their part issued Buy rating on July 14, 2020.