Matador Resources (NYSE:MTDR) is Lummis Asset Management LP's 2nd Largest Position

Lummis Asset Management LP boosted its stake in shares of Matador Resources (NYSE:MTDR - Free Report) by 24.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 191,102 shares of the energy company's stock after purchasing an additional 37,893 shares during the period. Matador Resources makes up approximately 11.0% of Lummis Asset Management LP's portfolio, making the stock its 2nd biggest holding. Lummis Asset Management LP owned approximately 0.15% of Matador Resources worth $9,444,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Denver PWM LLC bought a new stake in Matador Resources in the second quarter valued at $27,000. Covestor Ltd lifted its stake in shares of Matador Resources by 121.4% in the first quarter. Covestor Ltd now owns 414 shares of the energy company's stock worth $28,000 after buying an additional 227 shares during the last quarter. Quarry LP raised its stake in Matador Resources by 47.5% during the 2nd quarter. Quarry LP now owns 779 shares of the energy company's stock valued at $46,000 after purchasing an additional 251 shares during the last quarter. Advisors Asset Management Inc. increased its holdings in Matador Resources by 191.8% in the 1st quarter. Advisors Asset Management Inc. now owns 709 shares of the energy company's stock valued at $47,000 after buying an additional 466 shares during the period. Finally, GAMMA Investing LLC lifted its holdings in shares of Matador Resources by 28.7% during the third quarter. GAMMA Investing LLC now owns 1,403 shares of the energy company's stock valued at $69,000 after acquiring an additional 313 shares during the period. 91.98% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MTDR has been the topic of a number of research reports. JPMorgan Chase & Co. cut their target price on shares of Matador Resources from $77.00 to $71.00 and set an "overweight" rating on the stock in a research report on Wednesday, October 30th. Wells Fargo & Company dropped their price target on Matador Resources from $89.00 to $87.00 and set an "overweight" rating on the stock in a research note on Tuesday, October 1st. Royal Bank of Canada reissued an "outperform" rating and issued a $70.00 target price on shares of Matador Resources in a research report on Thursday, October 24th. Wolfe Research began coverage on shares of Matador Resources in a research report on Thursday, July 18th. They set a "peer perform" rating on the stock. Finally, BMO Capital Markets increased their price target on Matador Resources from $75.00 to $78.00 and gave the company an "outperform" rating in a research note on Friday, October 4th. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $74.92.

Insiders Place Their Bets

In other Matador Resources news, CEO Joseph Wm Foran bought 2,500 shares of the business's stock in a transaction that occurred on Monday, September 9th. The stock was purchased at an average price of $49.97 per share, for a total transaction of $124,925.00. Following the completion of the transaction, the chief executive officer now owns 40,251 shares of the company's stock, valued at $2,011,342.47. This trade represents a 6.62 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Bryan A. Erman acquired 1,000 shares of Matador Resources stock in a transaction dated Friday, September 6th. The shares were bought at an average price of $50.35 per share, for a total transaction of $50,350.00. Following the transaction, the executive vice president now owns 2,750 shares of the company's stock, valued at approximately $138,462.50. The trade was a 57.14 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 11,105 shares of company stock valued at $562,306. 6.10% of the stock is owned by insiders.

Matador Resources Trading Up 1.7 %

Matador Resources stock traded up $1.00 during trading hours on Thursday, reaching $58.99. The stock had a trading volume of 1,662,035 shares, compared to its average volume of 1,538,330. The company has a fifty day simple moving average of $52.36 and a 200-day simple moving average of $57.03. The stock has a market cap of $7.36 billion, a PE ratio of 7.81 and a beta of 3.26. 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 52 week low of $47.15 and a 52 week 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.78 by $0.11. Matador Resources had a return on equity of 20.01% and a net margin of 27.45%. The firm had revenue of $770.20 million during the quarter, compared to analyst estimates of $836.69 million. During the same quarter in the prior year, the company earned $1.86 EPS. The business's revenue was up 9.8% compared to the same quarter last year. Analysts forecast that Matador Resources will post 7.5 EPS 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. Shareholders of record on Friday, November 15th will be issued a $0.25 dividend. This is a positive change 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 dividend yield of 1.70%. Matador Resources's dividend payout ratio (DPR) is presently 10.60%.

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.