MQS Management LLC Decreases Holdings in Matador Resources (NYSE:MTDR)

MQS Management LLC lowered its holdings in Matador Resources (NYSE:MTDR) by 30.4% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 5,433 shares of the energy company’s stock after selling 2,374 shares during the quarter. MQS Management LLC’s holdings in Matador Resources were worth $268,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in MTDR. Janney Montgomery Scott LLC purchased a new position in Matador Resources in the first quarter valued at approximately $828,000. Prevail Innovative Wealth Advisors LLC grew its position in shares of 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 valued at $2,481,000 after buying an additional 8,254 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in Matador Resources by 5.1% during 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 acquiring an additional 53,322 shares in the last quarter. Vanguard Group Inc. raised its stake in Matador Resources by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 11,124,705 shares of the energy company’s stock worth $742,797,000 after acquiring an additional 103,713 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale lifted its position in Matador Resources by 304.1% in the first quarter. DekaBank Deutsche Girozentrale now owns 13,288 shares of the energy company’s stock valued at $863,000 after acquiring an additional 10,000 shares during the last quarter. Hedge funds and other institutional investors own 91.98% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Bryan A. Erman acquired 1,000 shares of Matador Resources stock in a transaction that occurred on Friday, September 6th. The stock was purchased at an average cost of $50.35 per share, with a total value of $50,350.00. Following the completion of the acquisition, the executive vice president now owns 2,750 shares in the company, valued at $138,462.50. This trade represents a 57.14 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Robert T. Macalik bought 500 shares of the firm’s stock in a transaction on Friday, September 6th. The shares were purchased at an average price of $50.25 per share, for a total transaction of $25,125.00. Following the completion of the transaction, the chief accounting officer now owns 29,800 shares of the company’s stock, valued at $1,497,450. This represents a 1.71 % increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 11,105 shares of company stock worth $562,306. Corporate insiders own 6.10% of the company’s stock.

Matador Resources Trading Up 1.7 %

Shares of Matador Resources stock opened at $58.99 on Friday. The company has a quick ratio of 0.84, a current ratio of 0.88 and a debt-to-equity ratio of 0.71. The firm has a market cap of $7.36 billion, a price-to-earnings ratio of 7.81 and a beta of 3.26. Matador Resources has a 52-week low of $47.15 and a 52-week high of $71.08. The company’s 50-day simple moving average is $52.36 and its 200-day simple moving average is $57.03.

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

Matador Resources Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 15th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.00 dividend on an annualized basis and a yield of 1.70%. This is an increase from Matador Resources’s previous quarterly dividend of $0.20. Matador Resources’s dividend payout ratio (DPR) is 10.60%.

Analysts Set New Price Targets

MTDR has been the topic of a number of research analyst reports. Benchmark reiterated a “buy” rating and set a $62.00 target price on shares of Matador Resources in a research report on Wednesday, October 23rd. Wells Fargo & Company cut their price target on Matador Resources from $89.00 to $87.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 1st. JPMorgan Chase & Co. decreased their price objective on Matador Resources from $77.00 to $71.00 and set an “overweight” rating for the company in a report on Wednesday, October 30th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $70.00 target price on shares of Matador Resources in a report on Thursday, October 24th. Finally, Capital One Financial upgraded shares of Matador Resources from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $80.00 to $84.00 in a research report on Thursday, July 25th. Two investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $74.92.

About Matador Resources

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.