Citigroup Inc. Purchases 39,630 Shares of Matador Resources (NYSE:MTDR)

Citigroup Inc. lifted its holdings in shares of Matador Resources (NYSE:MTDR - Free Report) by 40.1% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 138,580 shares of the energy company's stock after buying an additional 39,630 shares during the period. Citigroup Inc. owned about 0.11% of Matador Resources worth $6,849,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Boston Trust Walden Corp acquired a new position in Matador Resources during the third quarter worth about $51,788,000. Dimensional Fund Advisors LP increased its position in Matador Resources by 8.1% during 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. Los Angeles Capital Management LLC bought a new position in Matador Resources in the 2nd quarter valued at approximately $18,747,000. 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 valued at $134,102,000 after purchasing an additional 214,334 shares during the last quarter. Finally, AQR Capital Management LLC boosted its position in Matador Resources by 157.0% in the second quarter. AQR Capital Management LLC now owns 334,646 shares of the energy company's stock valued at $19,945,000 after buying an additional 204,420 shares in the last quarter. 91.98% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, EVP Glenn W. Stetson acquired 1,000 shares of the company's stock in a transaction dated Wednesday, October 30th. The stock was bought at an average cost of $51.33 per share, with a total value of $51,330.00. Following the acquisition, the executive vice president now owns 85,935 shares of the company's stock, valued at approximately $4,411,043.55. The trade was a 1.18 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Brian J. Willey bought 1,500 shares of Matador Resources stock in a transaction that occurred on Friday, September 6th. The stock was purchased at an average cost of $50.50 per share, for a total transaction of $75,750.00. Following the purchase, the chief financial officer now owns 1,500 shares of the company's stock, valued at $75,750. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought 11,105 shares of company stock worth $562,306 in the last three months. 6.10% of the stock is currently owned by corporate insiders.

Matador Resources Stock Performance

NYSE:MTDR traded up $0.45 on Friday, reaching $60.01. 589,683 shares of the company's stock were exchanged, compared to its average volume of 1,240,708. The firm has a market cap of $7.49 billion, a price-to-earnings ratio of 7.95 and a beta of 3.26. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.88 and a quick ratio of 0.84. The stock has a fifty day simple moving average of $54.25 and a 200-day simple moving average of $56.65. Matador Resources has a 52 week low of $47.15 and a 52 week high of $71.08.

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

Matador Resources Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 15th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Friday, November 15th. This is a boost from Matador Resources's previous quarterly dividend of $0.20. This represents a $1.00 annualized dividend and a yield of 1.67%. Matador Resources's dividend payout ratio is currently 13.25%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on MTDR. Truist Financial lowered their price target on shares of Matador Resources from $86.00 to $75.00 and set a "buy" rating for the company in a report on Monday, September 30th. KeyCorp cut their price target on Matador Resources from $76.00 to $72.00 and set an "overweight" rating on the stock in a research note on Wednesday, October 16th. Royal Bank of Canada restated an "outperform" rating and set a $70.00 price target on shares of Matador Resources in a report on Thursday, October 24th. JPMorgan Chase & Co. lowered their price objective on Matador Resources from $77.00 to $71.00 and set an "overweight" rating for the company in a research note on Wednesday, October 30th. Finally, 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. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Matador Resources presently has an average rating of "Moderate Buy" and an average target price 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.