Fisher Asset Management LLC Sells 18,742 Shares of Matador Resources (NYSE:MTDR)

Fisher Asset Management LLC cut its stake in shares of Matador Resources (NYSE:MTDR - Free Report) by 2.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 638,688 shares of the energy company's stock after selling 18,742 shares during the quarter. Fisher Asset Management LLC owned approximately 0.51% of Matador Resources worth $31,564,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Alpha DNA Investment Management LLC boosted its stake in Matador Resources by 132.5% during the third quarter. Alpha DNA Investment Management LLC now owns 8,302 shares of the energy company's stock worth $410,000 after acquiring an additional 4,731 shares in the last quarter. Algert Global LLC lifted its stake in shares of Matador Resources by 1,150.4% in the third quarter. Algert Global LLC now owns 149,316 shares of the energy company's stock valued at $7,379,000 after buying an additional 137,375 shares in the last quarter. Cerity Partners LLC lifted its stake in shares of Matador Resources by 42.8% in the third quarter. Cerity Partners LLC now owns 69,082 shares of the energy company's stock valued at $3,414,000 after buying an additional 20,700 shares in the last quarter. Citigroup Inc. lifted its stake in shares of Matador Resources by 40.1% in the third quarter. Citigroup Inc. now owns 138,580 shares of the energy company's stock valued at $6,849,000 after buying an additional 39,630 shares in the last quarter. Finally, Raymond James Trust N.A. lifted its stake in shares of Matador Resources by 44.0% in the third quarter. Raymond James Trust N.A. now owns 8,226 shares of the energy company's stock valued at $407,000 after buying an additional 2,512 shares in the last quarter. 91.98% of the stock is owned by institutional investors.

Matador Resources Stock Performance

NYSE MTDR opened at $58.85 on Wednesday. Matador Resources has a 52-week low of $47.15 and a 52-week high of $71.08. The company has a 50-day simple moving average of $53.66 and a 200 day simple moving average of $56.71. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.84 and a current ratio of 0.88. The company has a market capitalization of $7.34 billion, a PE ratio of 7.79 and a beta of 3.26.

Matador Resources (NYSE:MTDR - Get Free Report) last posted its quarterly earnings data 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. Matador Resources had a net margin of 27.45% and a return on equity of 20.01%. The business had revenue of $770.20 million during the quarter, compared to the consensus estimate of $836.69 million. During the same quarter last year, the company posted $1.86 earnings per share. The firm's quarterly revenue was up 9.8% compared to the same quarter last year. On average, research analysts predict that Matador Resources will post 7.5 EPS for the current year.

Matador Resources Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 15th will be paid a $0.25 dividend. This is an increase from Matador Resources's previous quarterly dividend of $0.20. The ex-dividend date is Friday, November 15th. This represents a $1.00 annualized dividend and a dividend yield of 1.70%. Matador Resources's dividend payout ratio (DPR) is presently 13.25%.

Insider Transactions at Matador Resources

In other Matador Resources news, CEO Joseph Wm Foran bought 2,500 shares of Matador Resources stock in a transaction dated Friday, September 6th. The stock was purchased at an average price of $51.47 per share, for a total transaction of $128,675.00. Following the completion of the purchase, the chief executive officer now directly owns 37,751 shares of the company's stock, valued at approximately $1,943,043.97. This trade represents a 7.09 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Robert T. Macalik bought 500 shares of Matador Resources stock in a transaction dated Friday, September 6th. The stock was acquired at an average price of $50.25 per share, with a total value of $25,125.00. Following the purchase, the chief accounting officer now directly owns 29,800 shares of the company's stock, valued at approximately $1,497,450. This represents a 1.71 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired 11,105 shares of company stock worth $562,306 over the last quarter. Corporate insiders own 6.10% of the company's stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Truist Financial dropped their price objective on shares of Matador Resources from $86.00 to $75.00 and set a "buy" rating on the stock in a research note on Monday, September 30th. Wells Fargo & Company dropped their price objective 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. BMO Capital Markets raised 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. JPMorgan Chase & Co. dropped their price objective on shares of Matador Resources from $77.00 to $71.00 and set an "overweight" rating on the stock in a research note on Wednesday, October 30th. Finally, Stephens increased their target price on shares of Matador Resources from $76.00 to $78.00 and gave the company an "overweight" rating in a report on Monday, October 21st. Two equities 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.com, the company currently has a consensus rating of "Moderate Buy" and a consensus 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.