Los Angeles Capital Management LLC Reduces Stake in Matador Resources (NYSE:MTDR)

Los Angeles Capital Management LLC decreased its position in Matador Resources (NYSE:MTDR - Free Report) by 93.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,925 shares of the energy company's stock after selling 293,614 shares during the quarter. Los Angeles Capital Management LLC's holdings in Matador Resources were worth $1,034,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of MTDR. Covestor Ltd boosted its position in Matador Resources by 121.4% during the first quarter. Covestor Ltd now owns 414 shares of the energy company's stock valued at $28,000 after buying an additional 227 shares during the period. Denver PWM LLC bought a new position in Matador Resources during the 2nd quarter worth approximately $27,000. Advisors Asset Management Inc. grew its position in Matador Resources by 191.8% during the 1st quarter. Advisors Asset Management Inc. now owns 709 shares of the energy company's stock worth $47,000 after acquiring an additional 466 shares during the last quarter. Quarry LP increased its stake in Matador Resources by 47.5% in the 2nd quarter. Quarry LP now owns 779 shares of the energy company's stock worth $46,000 after purchasing an additional 251 shares during the period. Finally, GAMMA Investing LLC lifted its position in Matador Resources by 28.7% in the third quarter. GAMMA Investing LLC now owns 1,403 shares of the energy company's stock valued at $69,000 after purchasing an additional 313 shares during the last quarter. Institutional investors own 91.98% of the company's stock.

Matador Resources Stock Down 3.0 %

MTDR traded down $1.79 during midday trading on Friday, reaching $57.20. The company's stock had a trading volume of 928,980 shares, compared to its average volume of 1,535,585. The stock's 50-day moving average is $52.36 and its 200-day moving average is $57.03. Matador Resources has a 1 year low of $47.15 and a 1 year high of $71.08. The firm has a market capitalization of $7.14 billion, a price-to-earnings ratio of 7.81 and a beta of 3.26. The company has a current ratio of 0.88, a quick ratio of 0.84 and a debt-to-equity ratio of 0.71.

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 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 last year, the company earned $1.86 EPS. The firm's revenue for the quarter was up 9.8% on a year-over-year basis. As a group, research analysts expect that Matador Resources will post 7.5 EPS for the current year.

Matador Resources Increases Dividend

The company 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 is a boost from Matador Resources's previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.00 dividend on an annualized basis and a yield of 1.75%. Matador Resources's payout ratio is presently 10.60%.

Insider Activity at Matador Resources

In other Matador Resources news, CAO Robert T. Macalik bought 500 shares of Matador Resources stock in a transaction on 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 acquisition, the chief accounting officer now owns 29,800 shares in the company, valued at approximately $1,497,450. This trade represents a 1.71 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Joseph Wm Foran purchased 2,500 shares of the stock in a transaction dated Monday, September 9th. The shares were acquired at an average cost of $49.97 per share, for a total transaction of $124,925.00. Following the completion of the acquisition, the chief executive officer now owns 40,251 shares of the company's stock, valued at approximately $2,011,342.47. This represents a 6.62 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 11,105 shares of company stock valued at $562,306. 6.10% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages recently commented on MTDR. Benchmark reiterated a "buy" rating and set a $62.00 price target on shares of Matador Resources in a report on Wednesday, October 23rd. Truist Financial dropped their target price on shares of Matador Resources from $86.00 to $75.00 and set a "buy" rating for the company in a report on Monday, September 30th. Royal Bank of Canada restated an "outperform" rating and set a $70.00 price target on shares of Matador Resources in a report on Thursday, October 24th. JPMorgan Chase & Co. dropped their price objective on Matador Resources from $77.00 to $71.00 and set an "overweight" rating for the company in a report on Wednesday, October 30th. Finally, TD Cowen boosted their target price on Matador Resources from $85.00 to $87.00 and gave the company a "buy" rating in a research note on Wednesday, July 24th. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $74.92.

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.