WCM Investment Management LLC Reduces Stock Position in Matador Resources (NYSE:MTDR)

WCM Investment Management LLC reduced its holdings in shares of Matador Resources (NYSE:MTDR) by 0.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 310,919 shares of the energy company’s stock after selling 227 shares during the quarter. WCM Investment Management LLC’s holdings in Matador Resources were worth $15,347,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of MTDR. Vanguard Group Inc. lifted 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. Dimensional Fund Advisors LP lifted its stake in Matador Resources by 8.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,734,819 shares of the energy company’s stock worth $282,196,000 after purchasing an additional 356,506 shares in the last quarter. Clearbridge Investments LLC lifted its stake in Matador Resources by 10.5% in the 2nd quarter. Clearbridge Investments LLC now owns 2,250,036 shares of the energy company’s stock worth $134,102,000 after purchasing an additional 214,334 shares in the last quarter. Price T Rowe Associates Inc. MD lifted 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. Finally, Boston Trust Walden Corp purchased a new stake in Matador Resources in the 3rd quarter worth approximately $51,788,000. 91.98% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CFO Brian J. Willey purchased 1,500 shares of the business’s stock in a transaction on Friday, September 6th. The shares were acquired at an average price 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 in the company, valued at approximately $75,750. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CFO Brian J. Willey purchased 1,500 shares of the business’s stock in a transaction on Friday, September 6th. The shares were acquired at an average price 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 in the company, valued at approximately $75,750. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Glenn W. Stetson purchased 1,000 shares of the business’s stock in a transaction on Wednesday, October 30th. The stock was purchased at an average cost of $51.33 per share, for a total transaction of $51,330.00. Following the acquisition, the executive vice president now owns 85,935 shares in the company, valued at approximately $4,411,043.55. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought a total of 11,105 shares of company stock valued at $562,306 in the last quarter. Insiders own 6.10% of the company’s stock.

Matador Resources Price Performance

MTDR stock opened at $57.26 on Tuesday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.84 and a current ratio of 0.88. Matador Resources has a 52 week low of $47.15 and a 52 week high of $71.08. The firm’s fifty day moving average is $52.02 and its 200 day moving average is $57.06. The firm has a market cap of $7.14 billion, a P/E ratio of 7.58 and a beta of 3.26.

Matador Resources (NYSE:MTDR) last released its earnings results on Tuesday, October 22nd. The energy company reported $1.89 EPS for the quarter, beating the consensus estimate of $1.78 by $0.11. Matador Resources had a net margin of 27.45% and a return on equity of 20.01%. The company had revenue of $770.20 million for the quarter, compared to analyst estimates of $836.69 million. During the same quarter last year, the firm earned $1.86 EPS. The firm’s quarterly revenue was up 9.8% compared to the same quarter last year. Research analysts predict that Matador Resources will post 7.45 earnings per share for the current year.

Matador Resources Increases Dividend

The company also recently declared 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. This represents a $1.00 dividend on an annualized basis and a yield of 1.75%. 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 dividend payout ratio (DPR) is 10.60%.

Analyst Ratings Changes

Several analysts have issued reports on MTDR shares. Wells Fargo & Company lowered their target price on shares of Matador Resources from $89.00 to $87.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 1st. Benchmark reiterated a “buy” rating and issued a $62.00 target price on shares of Matador Resources in a research note on Wednesday, October 23rd. Royal Bank of Canada reissued an “outperform” rating and issued a $70.00 price target on shares of Matador Resources in a report on Thursday, October 24th. Wolfe Research started coverage on shares of Matador Resources in a report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Finally, TD Cowen increased their price target on shares of Matador Resources from $85.00 to $87.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Matador Resources has an average rating of “Moderate Buy” and a consensus 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.