Smith Group Asset Management LLC Buys Shares of 10,752 Matador Resources (NYSE:MTDR)

Smith Group Asset Management LLC acquired a new stake in shares of Matador Resources (NYSE:MTDR - Free Report) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 10,752 shares of the energy company's stock, valued at approximately $531,000.

Several other large investors have also modified their holdings of MTDR. State of Michigan Retirement System raised its position in shares of Matador Resources by 2.3% in the 1st quarter. State of Michigan Retirement System now owns 27,200 shares of the energy company's stock worth $1,816,000 after buying an additional 600 shares during the period. Retirement Systems of Alabama lifted its stake in shares of Matador Resources by 0.3% in the 1st quarter. Retirement Systems of Alabama now owns 139,131 shares of the energy company's stock valued at $9,290,000 after purchasing an additional 365 shares in the last quarter. Private Advisor Group LLC lifted its stake in shares of Matador Resources by 6.3% in the 1st quarter. Private Advisor Group LLC now owns 48,898 shares of the energy company's stock valued at $3,265,000 after purchasing an additional 2,890 shares in the last quarter. Peterson Wealth Services grew its holdings in shares of Matador Resources by 50.1% during the 1st quarter. Peterson Wealth Services now owns 39,557 shares of the energy company's stock worth $2,641,000 after purchasing an additional 13,211 shares during the period. Finally, Janney Montgomery Scott LLC acquired a new stake in Matador Resources during the 1st quarter worth approximately $828,000. 91.98% of the stock is currently owned by hedge funds and other institutional investors.

Matador Resources Stock Performance

Shares of NYSE MTDR traded down $0.18 during trading on Tuesday, reaching $50.50. The stock had a trading volume of 1,382,209 shares, compared to its average volume of 1,536,570. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.84 and a current ratio of 0.88. The stock has a market cap of $6.30 billion, a PE ratio of 6.69 and a beta of 3.26. Matador Resources has a one year low of $47.15 and a one year high of $71.08. The firm's 50 day moving average price is $52.50 and its two-hundred day moving average price is $57.78.

Matador Resources (NYSE:MTDR - Get Free Report) last issued its quarterly earnings data on Tuesday, October 22nd. The energy company reported $1.89 earnings per share (EPS) for the quarter, topping 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 business had revenue of $770.20 million during the quarter, compared to analyst estimates of $836.69 million. During the same period in the prior year, the company posted $1.86 EPS. The business's revenue for the quarter was up 9.8% compared to the same quarter last year. On average, research analysts forecast that Matador Resources will post 7.42 earnings per share for the current fiscal year.

Matador Resources Increases Dividend

The business also recently announced 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 a boost 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 1.98%. Matador Resources's dividend payout ratio (DPR) is presently 10.60%.

Wall Street Analyst Weigh In

MTDR has been the topic of a number of recent research reports. Benchmark reaffirmed a "buy" rating and set a $62.00 price target on shares of Matador Resources in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. decreased their price target on shares of Matador Resources from $83.00 to $76.00 and set an "overweight" rating for the company in a research report on Thursday, September 12th. Truist Financial cut their price objective on Matador Resources from $86.00 to $75.00 and set a "buy" rating on the stock in a research report on Monday, September 30th. Stephens upped their target price on Matador Resources from $76.00 to $78.00 and gave the stock an "overweight" rating in a research report on Monday, October 21st. Finally, Capital One Financial upgraded Matador Resources from an "equal weight" rating to an "overweight" rating and raised their target price for the company from $80.00 to $84.00 in a report on Thursday, July 25th. Two 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.com, Matador Resources currently has a consensus rating of "Moderate Buy" and an average price target of $75.31.

Insider Transactions at Matador Resources

In other news, CFO Brian J. Willey bought 1,500 shares of the company's stock in a transaction that occurred on Friday, September 6th. The shares were purchased at an average price of $50.50 per share, with a total value of $75,750.00. Following the completion of the acquisition, the chief financial officer now directly owns 1,500 shares in the company, valued at approximately $75,750. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Matador Resources news, CFO Brian J. Willey purchased 1,500 shares of the company's stock in a transaction on Friday, September 6th. The shares were purchased at an average cost of $50.50 per share, for a total transaction of $75,750.00. Following the completion of the transaction, the chief financial officer now owns 1,500 shares in the company, valued at $75,750. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Joseph Wm Foran purchased 2,500 shares of the business's stock in a transaction on Friday, September 6th. The stock was acquired at an average cost of $51.47 per share, with a total value of $128,675.00. Following the completion of the acquisition, the chief executive officer now directly owns 37,751 shares in the company, valued at $1,943,043.97. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders purchased 12,300 shares of company stock valued at $634,615. Company insiders own 6.10% of the company's stock.

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.