Geode Capital Management LLC Raises Stock Holdings in Matador Resources (NYSE:MTDR)

Geode Capital Management LLC grew its stake in shares of Matador Resources (NYSE:MTDR - Free Report) by 1.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,008,730 shares of the energy company's stock after acquiring an additional 36,921 shares during the period. Geode Capital Management LLC owned 1.61% of Matador Resources worth $99,297,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Raymond James & Associates grew its stake in Matador Resources by 12.0% during the second quarter. Raymond James & Associates now owns 201,214 shares of the energy company's stock valued at $11,992,000 after acquiring an additional 21,495 shares in the last quarter. Fifth Third Bancorp grew its position in shares of Matador Resources by 16.6% during the 2nd quarter. Fifth Third Bancorp now owns 1,709 shares of the energy company's stock valued at $102,000 after purchasing an additional 243 shares in the last quarter. Fifth Third Wealth Advisors LLC bought a new position in shares of Matador Resources in the second quarter worth $203,000. Louisiana State Employees Retirement System increased its holdings in shares of Matador Resources by 2.8% in the second quarter. Louisiana State Employees Retirement System now owns 32,800 shares of the energy company's stock worth $1,955,000 after purchasing an additional 900 shares during the period. Finally, New York State Teachers Retirement System raised its position in shares of Matador Resources by 5.7% in the second quarter. New York State Teachers Retirement System now owns 123,864 shares of the energy company's stock worth $7,382,000 after buying an additional 6,704 shares in the last quarter. 91.98% of the stock is owned by institutional investors.

Matador Resources Trading Down 1.6 %

Matador Resources stock traded down $0.83 during mid-day trading on Thursday, hitting $52.59. The company's stock had a trading volume of 1,170,913 shares, compared to its average volume of 1,491,634. The business has a 50 day moving average price of $55.56 and a 200-day moving average price of $56.17. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.88 and a quick ratio of 0.84. Matador Resources has a 12 month low of $47.15 and a 12 month high of $71.08. The stock has a market cap of $6.56 billion, a price-to-earnings ratio of 6.97 and a beta of 3.26.

Matador Resources (NYSE:MTDR - Get Free Report) last released its earnings results on Tuesday, October 22nd. The energy company reported $1.89 earnings per share for the quarter, beating analysts' consensus estimates of $1.78 by $0.11. Matador Resources had a return on equity of 20.01% and a net margin of 27.45%. The company had revenue of $770.20 million during the quarter, compared to analyst estimates of $836.69 million. During the same quarter in the previous year, the company posted $1.86 EPS. Matador Resources's revenue for the quarter was up 9.8% on a year-over-year basis. As a group, analysts forecast that Matador Resources will post 7.49 EPS for the current year.

Matador Resources Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Friday, November 15th were issued a $0.25 dividend. This is a boost from Matador Resources's previous quarterly dividend of $0.20. The ex-dividend date was Friday, November 15th. This represents a $1.00 annualized dividend and a dividend yield of 1.90%. Matador Resources's dividend payout ratio (DPR) is currently 13.25%.

Insider Buying and Selling

In other Matador Resources news, EVP Glenn W. Stetson purchased 1,000 shares of the stock in a transaction on Wednesday, October 30th. The stock was acquired at an average price of $51.33 per share, with a total value of $51,330.00. Following the transaction, the executive vice president now directly owns 85,935 shares of the company's stock, valued at approximately $4,411,043.55. This trade represents a 1.18 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Joseph Wm Foran bought 2,000 shares of Matador Resources stock in a transaction dated Friday, December 6th. The shares were acquired at an average cost of $55.18 per share, for a total transaction of $110,360.00. Following the completion of the purchase, the chief executive officer now directly owns 42,251 shares of the company's stock, valued at approximately $2,331,410.18. This trade represents a 4.97 % increase in their position. The disclosure for this purchase can be found here. Insiders have bought a total of 4,285 shares of company stock valued at $232,849 over the last three months. 6.10% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. KeyCorp reduced their target price on Matador Resources from $76.00 to $72.00 and set an "overweight" rating for the company in a research report on Wednesday, October 16th. TD Cowen boosted their price objective on Matador Resources from $74.00 to $75.00 and gave the stock a "buy" rating in a report on Thursday. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $70.00 target price on shares of Matador Resources in a research note on Friday, December 6th. Stephens boosted their price target on shares of Matador Resources from $78.00 to $80.00 and gave the stock an "overweight" rating in a research note on Friday, December 6th. Finally, BMO Capital Markets increased their price target on shares of Matador Resources from $75.00 to $78.00 and gave the stock an "outperform" rating in a report on Friday, October 4th. Two investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $74.38.

Matador Resources 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.