HITE Hedge Asset Management LLC Buys Shares of 212,984 Matador Resources (NYSE:MTDR)

HITE Hedge Asset Management LLC purchased a new position in Matador Resources (NYSE:MTDR - Free Report) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 212,984 shares of the energy company's stock, valued at approximately $10,526,000. HITE Hedge Asset Management LLC owned about 0.17% of Matador Resources at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. Tidal Investments LLC increased its position in shares of Matador Resources by 21.2% during the 1st quarter. Tidal Investments LLC now owns 4,583 shares of the energy company's stock valued at $306,000 after purchasing an additional 802 shares during the last quarter. Virtu Financial LLC bought a new position in Matador Resources in the 1st quarter worth $200,000. DekaBank Deutsche Girozentrale lifted its position in Matador Resources by 304.1% during the first quarter. DekaBank Deutsche Girozentrale now owns 13,288 shares of the energy company's stock valued at $863,000 after purchasing an additional 10,000 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in Matador Resources by 38.6% during the first quarter. EverSource Wealth Advisors LLC now owns 1,451 shares of the energy company's stock valued at $90,000 after purchasing an additional 404 shares during the period. Finally, First Hawaiian Bank increased its position in Matador Resources by 2.5% in the second quarter. First Hawaiian Bank now owns 11,769 shares of the energy company's stock worth $701,000 after buying an additional 283 shares in the last quarter. Institutional investors own 91.98% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on MTDR shares. Wells Fargo & Company decreased 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 report on Tuesday, October 1st. KeyCorp cut their target price on shares of Matador Resources from $76.00 to $72.00 and set an "overweight" rating for the company in a research note on Wednesday, October 16th. Stephens boosted their price target 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. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $70.00 target price on shares of Matador Resources in a report on Thursday, October 24th. Finally, Truist Financial dropped their price target on Matador Resources from $86.00 to $75.00 and set a "buy" rating for the company in a research note on Monday, September 30th. Two equities 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, the company has an average rating of "Moderate Buy" and an average price target of $74.92.

Matador Resources Trading Up 0.9 %

NYSE:MTDR traded up $0.54 during mid-day trading on Tuesday, hitting $59.43. 935,972 shares of the stock traded hands, compared to its average volume of 1,513,108. The company has a quick ratio of 0.84, a current ratio of 0.88 and a debt-to-equity ratio of 0.71. Matador Resources has a 52 week low of $47.15 and a 52 week high of $71.08. The stock has a market capitalization of $7.42 billion, a price-to-earnings ratio of 7.87 and a beta of 3.26. The firm's 50 day moving average is $54.38 and its two-hundred day moving average is $56.58.

Matador Resources (NYSE:MTDR - Get Free Report) last issued its quarterly earnings results on Tuesday, October 22nd. The energy company reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.78 by $0.11. The firm had revenue of $770.20 million for the quarter, compared to the consensus estimate of $836.69 million. Matador Resources had a return on equity of 20.01% and a net margin of 27.45%. The company's revenue for the quarter was up 9.8% on a year-over-year basis. During the same period in the prior year, the business posted $1.86 earnings per share. On average, equities research analysts predict that Matador Resources will post 7.5 earnings per share for the current year.

Matador Resources Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 15th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.68%. The ex-dividend date of this dividend is Friday, November 15th. This is an increase from Matador Resources's previous quarterly dividend of $0.20. Matador Resources's dividend payout ratio (DPR) is currently 13.25%.

Insider Activity at Matador Resources

In related news, EVP Bryan A. Erman purchased 1,000 shares of the business's stock in a transaction dated Friday, September 6th. The shares were acquired at an average cost of $50.35 per share, for a total transaction of $50,350.00. Following the acquisition, the executive vice president now owns 2,750 shares of the company's stock, valued at $138,462.50. The trade was a 57.14 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Robert T. Macalik purchased 500 shares of Matador Resources stock in a transaction dated Friday, September 6th. The stock was bought at an average cost of $50.25 per share, with a total value of $25,125.00. Following the completion of the transaction, the chief accounting officer now owns 29,800 shares in the company, valued at approximately $1,497,450. This represents a 1.71 % increase in their position. The disclosure for this purchase can be found here. Insiders purchased 11,105 shares of company stock worth $562,306 in the last 90 days. 6.10% of the stock is owned by corporate insiders.

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.