Massachusetts Financial Services Co. MA Decreases Stock Holdings in Matador Resources (NYSE:MTDR)

Massachusetts Financial Services Co. MA reduced its position in shares of Matador Resources (NYSE:MTDR - Free Report) by 11.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,410,999 shares of the energy company's stock after selling 173,665 shares during the quarter. Massachusetts Financial Services Co. MA owned 1.13% of Matador Resources worth $69,732,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MTDR. Securian Asset Management Inc. grew its stake in shares of Matador Resources by 1.9% in the second quarter. Securian Asset Management Inc. now owns 9,255 shares of the energy company's stock valued at $552,000 after acquiring an additional 170 shares in the last quarter. Raymond James Trust N.A. grew its stake in shares of Matador Resources by 3.6% in the second quarter. Raymond James Trust N.A. now owns 5,714 shares of the energy company's stock valued at $341,000 after acquiring an additional 198 shares in the last quarter. Fifth Third Bancorp grew its stake in shares of Matador Resources by 16.6% in the second quarter. Fifth Third Bancorp now owns 1,709 shares of the energy company's stock valued at $102,000 after acquiring an additional 243 shares in the last quarter. Quarry LP grew its stake in shares of Matador Resources by 47.5% in the second quarter. Quarry LP now owns 779 shares of the energy company's stock valued at $46,000 after acquiring an additional 251 shares in the last quarter. Finally, Greenleaf Trust grew its stake in shares of Matador Resources by 3.8% in the third quarter. Greenleaf Trust now owns 7,086 shares of the energy company's stock valued at $350,000 after acquiring an additional 260 shares in the last quarter. 91.98% of the stock is owned by institutional investors.

Insider Buying and Selling at Matador Resources

In related news, CEO Joseph Wm Foran bought 2,500 shares of the business's stock in a transaction dated Friday, September 6th. The shares were purchased at an average price of $51.47 per share, with a total value of $128,675.00. Following the transaction, the chief executive officer now owns 37,751 shares in the company, valued at $1,943,043.97. This trade represents a 7.09 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Robert T. Macalik bought 500 shares of the business's stock in a transaction dated Friday, September 6th. The shares were bought at an average cost of $50.25 per share, for a total transaction of $25,125.00. Following the transaction, the chief accounting officer now owns 29,800 shares in the company, valued at approximately $1,497,450. The trade was a 1.71 % increase in their position. The disclosure for this purchase can be found here. Insiders bought a total of 11,105 shares of company stock worth $562,306 in the last three months. 6.10% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on MTDR. JPMorgan Chase & Co. reduced their price target on shares of Matador Resources from $77.00 to $71.00 and set an "overweight" rating on the stock in a research note on Wednesday, October 30th. Benchmark restated a "buy" rating and issued a $62.00 price target on shares of Matador Resources in a research note on Wednesday, October 23rd. Stephens raised their price target on shares of Matador Resources from $76.00 to $78.00 and gave the company an "overweight" rating in a research note on Monday, October 21st. Truist Financial reduced their price target on shares of Matador Resources from $86.00 to $75.00 and set a "buy" rating on the stock in a research note on Monday, September 30th. Finally, BMO Capital Markets raised their price objective on shares of Matador Resources from $75.00 to $78.00 and gave the company an "outperform" rating in a report on Friday, October 4th. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, Matador Resources currently has a consensus rating of "Moderate Buy" and a consensus target price of $74.92.

Matador Resources Price Performance

MTDR traded down $1.62 during midday trading on Monday, hitting $59.29. The stock had a trading volume of 564,820 shares, compared to its average volume of 1,523,750. The company has a market cap of $7.40 billion, a P/E ratio of 8.07 and a beta of 3.26. The business has a fifty day moving average of $53.48 and a 200 day moving average of $56.75. 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 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 EPS for the quarter, beating analysts' consensus estimates of $1.78 by $0.11. The company had revenue of $770.20 million during 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 firm's revenue for the quarter was up 9.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.86 earnings per share. As a group, equities analysts forecast that Matador Resources will post 7.5 earnings per share for the current fiscal year.

Matador Resources Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.25 per share. This is an increase from Matador Resources's previous quarterly dividend of $0.20. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date of this dividend is Friday, November 15th. Matador Resources's 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.