Fmr LLC Grows Stake in Matador Resources (NYSE:MTDR)

FMR LLC boosted its stake in Matador Resources (NYSE:MTDR - Free Report) by 162.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 478,795 shares of the energy company's stock after purchasing an additional 296,663 shares during the period. FMR LLC owned approximately 0.38% of Matador Resources worth $23,662,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Denver PWM LLC bought a new stake in shares of Matador Resources during the 2nd quarter valued at $27,000. Avior Wealth Management LLC grew its position in shares of Matador Resources by 329.0% during the 3rd quarter. Avior Wealth Management LLC now owns 828 shares of the energy company's stock valued at $41,000 after acquiring an additional 635 shares during the period. Quarry LP grew its position in shares of Matador Resources by 47.5% during the 2nd quarter. Quarry LP now owns 779 shares of the energy company's stock valued at $46,000 after acquiring an additional 251 shares during the period. Covestor Ltd grew its position in shares of Matador Resources by 154.8% during the 3rd quarter. Covestor Ltd now owns 1,060 shares of the energy company's stock valued at $52,000 after acquiring an additional 644 shares during the period. Finally, GAMMA Investing LLC grew its position in shares of Matador Resources by 28.7% during the 3rd quarter. GAMMA Investing LLC now owns 1,403 shares of the energy company's stock valued at $69,000 after acquiring an additional 313 shares during the period. Institutional investors own 91.98% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on MTDR shares. BMO Capital Markets lifted their target price 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. Stephens lifted their target price on shares of Matador Resources from $78.00 to $80.00 and gave the company an "overweight" rating in a research note on Friday. KeyCorp lowered their target price on shares of Matador Resources from $76.00 to $72.00 and set an "overweight" rating on the stock in a research note on Wednesday, October 16th. Benchmark restated a "buy" rating and set a $62.00 target price on shares of Matador Resources in a research note on Wednesday, October 23rd. Finally, 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. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, Matador Resources currently has an average rating of "Moderate Buy" and a consensus target price of $75.08.

Insider Buying and Selling

In other Matador Resources news, EVP Glenn W. Stetson purchased 1,000 shares of the firm's stock in a transaction that occurred on Wednesday, October 30th. The stock was purchased at an average cost of $51.33 per share, with a total value of $51,330.00. Following the purchase, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robert Gaines Baty purchased 500 shares of the firm's stock in a transaction that occurred on Friday, September 13th. The shares were acquired at an average cost of $50.58 per share, with a total value of $25,290.00. Following the completion of the purchase, the director now directly owns 67,617 shares in the company, valued at $3,420,067.86. The trade was a 0.74 % increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders acquired 3,805 shares of company stock valued at $202,511. Insiders own 6.10% of the company's stock.

Matador Resources Price Performance

Shares of NYSE MTDR traded down $0.19 during mid-day trading on Tuesday, hitting $56.22. 1,078,388 shares of the company's stock traded hands, compared to its average volume of 1,507,316. The company's 50-day moving average is $55.15 and its two-hundred day moving average is $56.44. 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 company has a market capitalization of $7.01 billion, a P/E ratio of 7.47 and a beta of 3.26. Matador Resources has a 1 year low of $47.15 and a 1 year high of $71.08.

Matador Resources (NYSE:MTDR - Get Free Report) last announced its earnings results on Tuesday, October 22nd. The energy company reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.78 by $0.11. The firm 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 was up 9.8% compared to the same quarter last year. During the same period in the prior year, the company earned $1.86 EPS. On average, equities analysts anticipate that Matador Resources will post 7.5 EPS for the current fiscal year.

Matador Resources Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Friday, November 15th were paid a dividend of $0.25 per share. This is a boost from Matador Resources's previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Friday, November 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.78%. Matador Resources's dividend payout ratio is currently 13.25%.

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.