Summit Global Investments Acquires Shares of 18,331 Matador Resources (NYSE:MTDR)

Summit Global Investments acquired a new stake in shares of Matador Resources (NYSE:MTDR - Free Report) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 18,331 shares of the energy company's stock, valued at approximately $906,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Janney Montgomery Scott LLC acquired a new stake in Matador Resources during the first quarter valued at $828,000. Prevail Innovative Wealth Advisors LLC raised its stake in shares of Matador Resources by 28.6% in the first quarter. Prevail Innovative Wealth Advisors LLC now owns 37,163 shares of the energy company's stock worth $2,481,000 after acquiring an additional 8,254 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in Matador Resources by 5.1% in the first 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 during the period. Vanguard Group Inc. raised its position in shares of Matador Resources by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 11,124,705 shares of the energy company's stock valued at $742,797,000 after acquiring an additional 103,713 shares during the last quarter. Finally, SG Americas Securities LLC increased its stake in Matador Resources by 1,166.1% in the first quarter. SG Americas Securities LLC now owns 31,172 shares of the energy company's stock valued at $2,081,000 after purchasing an additional 28,710 shares in the last quarter. Institutional investors own 91.98% of the company's stock.

Insider Activity

In other news, EVP Bryan A. Erman acquired 1,000 shares of the business's stock in a transaction that occurred on Friday, September 6th. The stock was bought at an average price of $50.35 per share, with a total value of $50,350.00. Following the completion of the acquisition, the executive vice president now directly owns 2,750 shares of the company's stock, valued at approximately $138,462.50. The trade was a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Bryan A. Erman bought 1,000 shares of Matador Resources stock in a transaction dated Friday, September 6th. The shares were 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 of the company's stock, valued at $138,462.50. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Robert T. Macalik acquired 500 shares of the stock in a transaction on Friday, September 6th. The shares were acquired at an average price of $50.25 per share, with a total value of $25,125.00. Following the transaction, the chief accounting officer now directly owns 29,800 shares of the company's stock, valued at $1,497,450. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased 11,105 shares of company stock worth $562,306 over the last three months. 6.10% of the stock is currently owned by corporate insiders.

Matador Resources Price Performance

NYSE:MTDR traded up $0.04 during trading hours on Friday, hitting $56.58. 938,828 shares of the company's stock traded hands, compared to its average volume of 1,835,815. Matador Resources has a 52 week low of $47.15 and a 52 week high of $71.08. 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 $7.06 billion, a P/E ratio of 7.49 and a beta of 3.26. The business's fifty day simple moving average is $52.01 and its two-hundred day simple moving average is $57.18.

Matador Resources (NYSE:MTDR - Get Free Report) last posted its quarterly earnings results on Tuesday, October 22nd. The energy company reported $1.89 EPS for the quarter, beating analysts' consensus estimates 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 period in the prior year, the business posted $1.86 EPS. On average, research analysts anticipate that Matador Resources will post 7.45 earnings per share for the current fiscal year.

Matador Resources Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 15th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.77%. This is a positive change from Matador Resources's previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Friday, November 15th. Matador Resources's dividend payout ratio (DPR) is presently 10.60%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Wolfe Research assumed coverage on Matador Resources in a report on Thursday, July 18th. They issued a "peer perform" rating for the company. Stephens increased their price target on Matador Resources from $76.00 to $78.00 and gave the company an "overweight" rating in a research note on Monday, October 21st. TD Cowen raised their price objective on Matador Resources from $85.00 to $87.00 and gave the stock a "buy" rating in a research report on Wednesday, July 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, Benchmark restated a "buy" rating and issued a $62.00 target price on shares of Matador Resources in a report on Wednesday, October 23rd. Two investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $74.92.

Matador Resources Company 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.