HITE Hedge Asset Management LLC Takes Position in Matador Resources (NYSE:MTDR)

HITE Hedge Asset Management LLC purchased a new position in Matador Resources (NYSE:MTDR - Free Report) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 212,984 shares of the energy company's stock, valued at approximately $10,526,000. HITE Hedge Asset Management LLC owned about 0.17% of Matador Resources as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in the stock. Boston Trust Walden Corp purchased a new stake in shares of Matador Resources during the 3rd quarter worth approximately $51,788,000. Dimensional Fund Advisors LP raised its stake in shares of Matador Resources by 8.1% in the second quarter. Dimensional Fund Advisors LP now owns 4,734,819 shares of the energy company's stock valued at $282,196,000 after buying an additional 356,506 shares during the period. Los Angeles Capital Management LLC bought a new position in shares of Matador Resources during the 2nd quarter worth $18,747,000. FMR LLC increased its stake in shares of Matador Resources by 162.9% in the third quarter. FMR LLC now owns 478,795 shares of the energy company's stock worth $23,662,000 after purchasing an additional 296,663 shares in the last quarter. Finally, Clearbridge Investments LLC grew its position in shares of Matador Resources by 10.5% in the second quarter. Clearbridge Investments LLC now owns 2,250,036 shares of the energy company's stock valued at $134,102,000 after purchasing an additional 214,334 shares in the last quarter. Institutional investors own 91.98% of the company's stock.

Analyst Ratings Changes

A number of research analysts have weighed in on MTDR shares. Royal Bank of Canada reaffirmed an "outperform" rating and set a $70.00 target price on shares of Matador Resources in a report on Thursday, October 24th. Benchmark reissued a "buy" rating and issued a $62.00 price target on shares of Matador Resources in a report on Wednesday, October 23rd. KeyCorp lowered their price objective on Matador Resources from $76.00 to $72.00 and set an "overweight" rating on the stock in a research report on Wednesday, October 16th. BMO Capital Markets boosted their price objective on Matador Resources from $75.00 to $78.00 and gave the stock an "outperform" rating in a report on Friday, October 4th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Matador Resources from $77.00 to $71.00 and set an "overweight" rating for the company in a research report on Wednesday, October 30th. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, Matador Resources currently has an average rating of "Moderate Buy" and a consensus price target of $74.92.

Matador Resources Trading Up 0.9 %

MTDR stock traded up $0.54 during midday trading on Tuesday, hitting $59.43. The company had a trading volume of 935,972 shares, compared to its average volume of 1,513,108. The stock has a market cap of $7.42 billion, a price-to-earnings ratio of 7.87 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 has a current ratio of 0.88, a quick ratio of 0.84 and a debt-to-equity ratio of 0.71. The stock's 50 day moving average price is $54.38 and its 200 day moving average price is $56.58.

Matador Resources (NYSE:MTDR - Get Free Report) last announced its quarterly 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 for 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 company's revenue was up 9.8% on a year-over-year basis. During the same quarter last year, the firm earned $1.86 EPS. As a group, equities research analysts expect that Matador Resources will post 7.5 earnings per share for the current fiscal year.

Matador Resources Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 15th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.68%. This is a boost 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 currently 13.25%.

Insider Activity

In related news, CEO Joseph Wm Foran bought 2,500 shares of the business's stock in a transaction dated Friday, September 6th. The shares were purchased at an average cost of $51.47 per share, with a total value of $128,675.00. Following the completion of the purchase, the chief executive officer now owns 37,751 shares in the company, valued at approximately $1,943,043.97. The trade was a 7.09 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Robert T. Macalik purchased 500 shares of the stock in a transaction dated Friday, September 6th. The stock was bought at an average cost of $50.25 per share, with a total value of $25,125.00. Following the transaction, the chief accounting officer now owns 29,800 shares in the company, valued at $1,497,450. The trade was a 1.71 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 11,105 shares of company stock valued at $562,306. Corporate insiders own 6.10% of the company's stock.

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.