Spring Capital Management LLC Sells 44,773 Shares of Matador Resources (NYSE:MTDR)

Spring Capital Management LLC lowered its stake in shares of Matador Resources (NYSE:MTDR - Free Report) by 62.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 26,827 shares of the energy company's stock after selling 44,773 shares during the quarter. Matador Resources comprises approximately 1.0% of Spring Capital Management LLC's holdings, making the stock its 22nd largest holding. Spring Capital Management LLC's holdings in Matador Resources were worth $1,326,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Covestor Ltd increased its position in shares of Matador Resources by 121.4% during the 1st quarter. Covestor Ltd now owns 414 shares of the energy company's stock worth $28,000 after purchasing an additional 227 shares in the last quarter. Denver PWM LLC acquired a new stake in shares of Matador Resources during the 2nd quarter worth about $27,000. Advisors Asset Management Inc. increased its position in shares of 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 purchasing an additional 466 shares in the last quarter. Quarry LP increased its position in shares of Matador Resources by 47.5% during the 2nd quarter. Quarry LP now owns 779 shares of the energy company's stock worth $46,000 after purchasing an additional 251 shares in the last quarter. Finally, Fidelis Capital Partners LLC acquired a new stake in shares of Matador Resources during the 1st quarter worth about $73,000. Institutional investors own 91.98% of the company's stock.

Matador Resources Trading Up 0.8 %

Shares of NYSE MTDR traded up $0.42 during mid-day trading on Wednesday, hitting $50.75. The company's stock had a trading volume of 3,530,797 shares, compared to its average volume of 1,513,097. The stock has a market cap of $6.33 billion, a price-to-earnings ratio of 6.95 and a beta of 3.26. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.86 and a quick ratio of 0.82. Matador Resources has a one year low of $47.15 and a one year high of $71.08. The company's fifty day simple moving average is $53.03 and its 200-day simple moving average is $58.41.

Matador Resources (NYSE:MTDR - Get Free Report) last released its quarterly earnings data 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. Matador Resources had a net margin of 29.01% and a return on equity of 21.12%. The business had revenue of $770.20 million for the quarter, compared to analyst estimates of $836.69 million. During the same quarter last year, the firm earned $1.86 EPS. Matador Resources's quarterly revenue was up 9.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Matador Resources will post 7.4 earnings per share for the current fiscal year.

Matador Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 15th will be paid a dividend of $0.25 per share. This is a positive change from Matador Resources's previous quarterly dividend of $0.20. The ex-dividend date is Friday, November 15th. This represents a $1.00 annualized dividend and a yield of 1.97%. Matador Resources's dividend payout ratio (DPR) is presently 13.70%.

Insider Buying and Selling

In other news, EVP Bryan A. Erman acquired 1,000 shares of Matador Resources stock in a transaction that occurred on Friday, September 6th. The shares were acquired at an average price of $50.35 per share, with a total value of $50,350.00. Following the purchase, the executive vice president now directly owns 2,750 shares of the company's stock, valued at $138,462.50. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CAO Robert T. Macalik bought 500 shares of the firm's stock in a transaction that occurred on Friday, August 2nd. The stock was acquired at an average cost of $54.50 per share, with a total value of $27,250.00. Following the completion of the purchase, the chief accounting officer now owns 29,300 shares of the company's stock, valued at $1,596,850. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Bryan A. Erman bought 1,000 shares of the firm's stock in a transaction that occurred on Friday, September 6th. The stock was purchased at an average cost of $50.35 per share, with a total value of $50,350.00. Following the completion of the purchase, the executive vice president now directly owns 2,750 shares of the company's stock, valued at $138,462.50. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders have bought 12,300 shares of company stock valued at $634,615 in the last 90 days. 6.10% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Benchmark reiterated a "buy" rating and set a $62.00 target price on shares of Matador Resources in a research report on Wednesday. BMO Capital Markets increased their price objective on shares of Matador Resources from $75.00 to $78.00 and gave the stock an "outperform" rating in a report on Friday, October 4th. JPMorgan Chase & Co. decreased their price objective on shares of Matador Resources from $83.00 to $76.00 and set an "overweight" rating on the stock in a report on Thursday, September 12th. Mizuho decreased their price objective on shares of Matador Resources from $85.00 to $74.00 and set an "outperform" rating on the stock in a report on Monday, September 16th. Finally, 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 report on Tuesday, October 1st. Two investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, Matador Resources has an average rating of "Moderate Buy" and an average target price of $75.69.

Matador Resources 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.