Harbor Capital Advisors Inc. Raises Stake in Matador Resources (NYSE:MTDR)

Harbor Capital Advisors Inc. increased its holdings in Matador Resources (NYSE:MTDR - Free Report) by 113.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,649 shares of the energy company's stock after buying an additional 14,696 shares during the period. Harbor Capital Advisors Inc.'s holdings in Matador Resources were worth $1,366,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Ceredex Value Advisors LLC increased its stake in Matador Resources by 19.3% in the third quarter. Ceredex Value Advisors LLC now owns 324,301 shares of the energy company's stock valued at $16,027,000 after acquiring an additional 52,450 shares during the last quarter. New York State Teachers Retirement System increased its stake in Matador Resources by 7.0% in the third quarter. New York State Teachers Retirement System now owns 132,596 shares of the energy company's stock valued at $6,553,000 after acquiring an additional 8,732 shares during the last quarter. Smith Group Asset Management LLC bought a new position in Matador Resources in the third quarter valued at approximately $531,000. Inscription Capital LLC increased its stake in Matador Resources by 7.2% in the third quarter. Inscription Capital LLC now owns 6,002 shares of the energy company's stock valued at $297,000 after acquiring an additional 402 shares during the last quarter. Finally, State of Alaska Department of Revenue increased its stake in Matador Resources by 7.3% in the third quarter. State of Alaska Department of Revenue now owns 13,533 shares of the energy company's stock valued at $668,000 after acquiring an additional 915 shares during the last quarter. 91.98% of the stock is currently owned by institutional investors and hedge funds.

Matador Resources Stock Up 8.1 %

Shares of NYSE MTDR traded up $4.30 during trading on Wednesday, hitting $57.37. 2,181,036 shares of the company traded hands, compared to its average volume of 1,766,657. The business's fifty day moving average is $52.04 and its 200 day moving average is $57.30. Matador Resources has a fifty-two week low of $47.15 and a fifty-two week high of $71.08. The firm has a market capitalization of $7.16 billion, a price-to-earnings ratio of 7.60 and a beta of 3.26. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.84 and a current ratio of 0.88.

Matador Resources (NYSE:MTDR - Get Free Report) last announced its quarterly earnings data on Tuesday, October 22nd. The energy company reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.78 by $0.11. Matador Resources had a net margin of 27.45% and a return on equity of 20.01%. The firm had revenue of $770.20 million for the quarter, compared to analyst estimates of $836.69 million. During the same quarter in the prior year, the business earned $1.86 earnings per share. The business's quarterly revenue was up 9.8% compared to the same quarter last year. Equities research analysts predict that Matador Resources will post 7.45 earnings per share for the current fiscal 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 given a dividend of $0.25 per share. The ex-dividend date is Friday, November 15th. This is an increase from Matador Resources's previous quarterly dividend of $0.20. This represents a $1.00 annualized dividend and a dividend yield of 1.74%. Matador Resources's payout ratio is presently 10.60%.

Analyst Ratings Changes

A number of research analysts recently issued reports on MTDR shares. Benchmark reissued a "buy" rating and issued a $62.00 price objective on shares of Matador Resources in a research note on Wednesday, October 23rd. Royal Bank of Canada reaffirmed an "outperform" rating and set a $70.00 target price on shares of Matador Resources in a research note on Thursday, October 24th. Wells Fargo & Company decreased 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. Stephens boosted their target price on shares of Matador Resources from $76.00 to $78.00 and gave the stock an "overweight" rating in a research note on Monday, October 21st. Finally, Mizuho reduced their price objective on shares of Matador Resources from $85.00 to $74.00 and set an "outperform" rating on the stock in a research note on Monday, September 16th. 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, Matador Resources has an average rating of "Moderate Buy" and an average price target of $74.92.

Insider Transactions at Matador Resources

In other Matador Resources news, EVP Glenn W. Stetson bought 1,000 shares of the firm'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 completion of the transaction, the executive vice president now directly owns 85,935 shares in the company, valued at approximately $4,411,043.55. The trade was a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, EVP Glenn W. Stetson acquired 1,000 shares of the firm's stock in a transaction that occurred on Wednesday, October 30th. The stock was bought at an average price 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 in the company, valued at $4,411,043.55. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Robert T. Macalik acquired 500 shares of the stock in a transaction that occurred on Friday, September 6th. The stock was purchased at an average price of $50.25 per share, for a total transaction of $25,125.00. Following the completion of the purchase, the chief accounting officer now directly owns 29,800 shares in the company, valued at $1,497,450. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders acquired a total of 11,105 shares of company stock valued at $562,306 over the last three months. 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.