Matador Resources (NYSE:MTDR) Stock Holdings Lifted by Lummis Asset Management LP

Lummis Asset Management LP raised its holdings in shares of Matador Resources (NYSE:MTDR) by 24.7% during the third quarter, according to its most recent filing with the SEC. The firm owned 191,102 shares of the energy company’s stock after purchasing an additional 37,893 shares during the period. Matador Resources accounts for about 11.0% of Lummis Asset Management LP’s portfolio, making the stock its 2nd largest position. Lummis Asset Management LP owned 0.15% of Matador Resources worth $9,444,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Janney Montgomery Scott LLC bought a new stake in shares of Matador Resources in the 1st quarter valued at about $828,000. Prevail Innovative Wealth Advisors LLC boosted its stake in Matador Resources by 28.6% in the 1st quarter. Prevail Innovative Wealth Advisors LLC now owns 37,163 shares of the energy company’s stock worth $2,481,000 after purchasing an additional 8,254 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Matador Resources by 5.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,104,791 shares of the energy company’s stock worth $73,768,000 after purchasing an additional 53,322 shares in the last quarter. Vanguard Group Inc. boosted its stake in Matador Resources by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 11,124,705 shares of the energy company’s stock worth $742,797,000 after purchasing an additional 103,713 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale boosted its stake in Matador Resources by 304.1% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 13,288 shares of the energy company’s stock worth $863,000 after purchasing an additional 10,000 shares in the last quarter. 91.98% of the stock is currently owned by institutional investors.

Matador Resources Price Performance

NYSE MTDR traded up $0.85 on Thursday, hitting $58.84. The company had a trading volume of 74,842 shares, compared to its average volume of 1,531,148. The company has a market capitalization of $7.34 billion, a PE ratio of 7.68 and a beta of 3.26. The company’s fifty day moving average price is $52.21 and its 200-day moving average price is $57.01. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.88 and a quick ratio of 0.84. Matador Resources has a 12-month low of $47.15 and a 12-month high of $71.08.

Matador Resources (NYSE:MTDR) last issued its quarterly earnings results on Tuesday, October 22nd. The energy company reported $1.89 EPS for the quarter, topping the consensus estimate of $1.78 by $0.11. The company had revenue of $770.20 million during the quarter, compared to analyst estimates of $836.69 million. Matador Resources had a net margin of 27.45% and a return on equity of 20.01%. The firm’s revenue was up 9.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.86 EPS. As a group, analysts predict that Matador Resources will post 7.5 earnings per share for the current year.

Matador Resources Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 15th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.70%. The ex-dividend date is Friday, November 15th. This is a positive change from Matador Resources’s previous quarterly dividend of $0.20. Matador Resources’s payout ratio is presently 10.60%.

Analyst Ratings Changes

A number of analysts recently commented on MTDR shares. TD Cowen lifted their target price on shares of Matador Resources from $85.00 to $87.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Mizuho lowered their target price on shares of Matador Resources from $85.00 to $74.00 and set an “outperform” rating for the company in a research note on Monday, September 16th. Royal Bank of Canada restated an “outperform” rating and set a $70.00 price objective on shares of Matador Resources in a research note on Thursday, October 24th. BMO Capital Markets lifted their price objective on shares of Matador Resources from $75.00 to $78.00 and gave the company an “outperform” rating in a research note on Friday, October 4th. Finally, Capital One Financial upgraded shares of Matador Resources from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $80.00 to $84.00 in a research note on Thursday, July 25th. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $74.92.

Insider Buying and Selling

In other Matador Resources news, CFO Brian J. Willey bought 1,500 shares of the company’s stock in a transaction dated Friday, September 6th. The stock was acquired at an average price of $50.50 per share, with a total value of $75,750.00. Following the completion of the acquisition, the chief financial officer now directly owns 1,500 shares of the company’s stock, valued at $75,750. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Matador Resources news, CEO Joseph Wm Foran bought 2,500 shares of the company’s stock in a transaction dated Monday, September 9th. The stock was acquired at an average price of $49.97 per share, with a total value of $124,925.00. Following the completion of the acquisition, the chief executive officer now directly owns 40,251 shares of the company’s stock, valued at $2,011,342.47. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Brian J. Willey bought 1,500 shares of the company’s stock in a transaction dated Friday, September 6th. The shares were acquired at an average cost of $50.50 per share, with a total value of $75,750.00. Following the acquisition, the chief financial officer now directly owns 1,500 shares of the company’s stock, valued at approximately $75,750. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 11,105 shares of company stock valued at $562,306. 6.10% of the stock is owned by corporate insiders.

Matador Resources 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.