Allspring Global Investments Holdings LLC Has $5.89 Million Stake in Matador Resources (NYSE:MTDR)

Allspring Global Investments Holdings LLC trimmed its holdings in Matador Resources (NYSE:MTDR - Free Report) by 18.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 119,082 shares of the energy company's stock after selling 27,547 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.10% of Matador Resources worth $5,885,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in MTDR. MorganRosel Wealth Management LLC acquired a new stake in Matador Resources in the first quarter worth approximately $200,000. Vaughan Nelson Investment Management L.P. lifted its position in Matador Resources by 33.4% in the first quarter. Vaughan Nelson Investment Management L.P. now owns 816,445 shares of the energy company's stock worth $54,515,000 after purchasing an additional 204,285 shares during the period. Dash Acquisitions Inc. acquired a new stake in Matador Resources in the first quarter worth approximately $6,450,000. State of Michigan Retirement System lifted its position in Matador Resources by 2.3% in the first quarter. State of Michigan Retirement System now owns 27,200 shares of the energy company's stock worth $1,816,000 after purchasing an additional 600 shares during the period. Finally, Wasatch Advisors LP lifted its position in Matador Resources by 7.3% in the first quarter. Wasatch Advisors LP now owns 1,176,802 shares of the energy company's stock worth $78,575,000 after purchasing an additional 79,920 shares during the period. 91.98% of the stock is owned by institutional investors.

Matador Resources Stock Down 2.2 %

NYSE:MTDR traded down $1.15 during trading hours on Monday, hitting $50.68. 2,128,736 shares of the stock traded hands, compared to its average volume of 1,537,312. The firm has a 50 day moving average price of $52.74 and a 200 day moving average price of $58.04. The company has a current ratio of 0.86, a quick ratio of 0.82 and a debt-to-equity ratio of 0.41. Matador Resources has a fifty-two week low of $47.15 and a fifty-two week high of $71.08. The firm has a market cap of $6.32 billion, a price-to-earnings ratio of 6.94 and a beta of 3.26.

Matador Resources (NYSE:MTDR - Get Free Report) last posted its quarterly earnings results on Tuesday, October 22nd. The energy company reported $1.89 earnings per share for the quarter, topping analysts' consensus estimates of $1.78 by $0.11. Matador Resources had a net margin of 27.45% and a return on equity of 20.63%. The business had revenue of $770.20 million for the quarter, compared to the consensus estimate of $836.69 million. During the same period in the prior year, the business posted $1.86 earnings per share. Matador Resources's revenue for the quarter was up 9.8% compared to the same quarter last year. Equities research analysts anticipate that Matador Resources will post 7.41 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. Stockholders of record on Friday, November 15th will be paid a $0.25 dividend. The ex-dividend date is Friday, November 15th. 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 1.97%. Matador Resources's dividend payout ratio is 13.70%.

Analysts Set New Price Targets

MTDR has been the subject of a number of research analyst reports. Capital One Financial upgraded Matador Resources from an "equal weight" rating to an "overweight" rating and upped their target price for the stock from $80.00 to $84.00 in a research report on Thursday, July 25th. Truist Financial cut their price objective on Matador Resources from $86.00 to $75.00 and set a "buy" rating for the company in a research report on Monday, September 30th. Mizuho cut their price objective on Matador Resources from $85.00 to $74.00 and set an "outperform" rating for the company in a research report on Monday, September 16th. Royal Bank of Canada reiterated an "outperform" rating and set a $70.00 price objective on shares of Matador Resources in a research report on Thursday. Finally, TD Cowen increased their price objective on Matador Resources from $85.00 to $87.00 and gave the company a "buy" rating in a research report on Wednesday, July 24th. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $75.31.

Insider Transactions at Matador Resources

In related news, Director Robert Gaines Baty purchased 500 shares of the company's stock in a transaction dated Friday, September 13th. The shares were acquired at an average cost of $50.58 per share, with a total value of $25,290.00. Following the completion of the purchase, the director now owns 67,617 shares of the company's stock, valued at $3,420,067.86. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Matador Resources news, Director Robert Gaines Baty bought 500 shares of the stock in a transaction on Friday, September 13th. The shares were purchased at an average cost of $50.58 per share, with a total value of $25,290.00. Following the completion of the transaction, the director now directly owns 67,617 shares of the company's stock, valued at $3,420,067.86. This represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Joseph Wm Foran bought 2,500 shares of the stock in a transaction on Friday, September 6th. The shares were acquired at an average cost of $51.47 per share, for a total transaction of $128,675.00. Following the completion of the transaction, the chief executive officer now directly owns 37,751 shares of the company's stock, valued at approximately $1,943,043.97. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 12,300 shares of company stock valued at $634,615. 6.10% of the stock is owned by insiders.

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.