Oak Ridge Investments LLC Has $2.83 Million Stake in Matador Resources (NYSE:MTDR)

Oak Ridge Investments LLC lessened its holdings in shares of Matador Resources (NYSE:MTDR - Free Report) by 23.6% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 57,354 shares of the energy company's stock after selling 17,691 shares during the quarter. Oak Ridge Investments LLC's holdings in Matador Resources were worth $2,834,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Matador Resources by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 11,124,705 shares of the energy company's stock worth $742,797,000 after acquiring an additional 103,713 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Matador Resources by 8.1% during the second quarter. Dimensional Fund Advisors LP now owns 4,734,819 shares of the energy company's stock valued at $282,196,000 after purchasing an additional 356,506 shares during the last quarter. Clearbridge Investments LLC raised its position in shares of Matador Resources by 10.5% in the second quarter. Clearbridge Investments LLC now owns 2,250,036 shares of the energy company's stock valued at $134,102,000 after purchasing an additional 214,334 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of Matador Resources by 5.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,104,791 shares of the energy company's stock worth $73,768,000 after buying an additional 53,322 shares during the last quarter. Finally, Boston Trust Walden Corp bought a new stake in shares of Matador Resources during the 3rd quarter worth $51,788,000. 91.98% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

MTDR has been the subject of a number of recent analyst reports. Wolfe Research assumed coverage on shares of Matador Resources in a report on Thursday, July 18th. They set a "peer perform" rating for the company. BMO Capital Markets raised their target price on Matador Resources from $75.00 to $78.00 and gave the company an "outperform" rating in a report on Friday, October 4th. Wells Fargo & Company cut their price target on Matador Resources from $89.00 to $87.00 and set an "overweight" rating for the company in a report on Tuesday, October 1st. Truist Financial lowered their price objective 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, Mizuho decreased their price target on shares of Matador Resources from $85.00 to $74.00 and set an "outperform" rating on the stock in a research report on Monday, September 16th. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, Matador Resources presently has an average rating of "Moderate Buy" and a consensus price target of $74.92.

Matador Resources Price Performance

Shares of NYSE MTDR traded down $0.52 during midday trading on Friday, reaching $51.59. 1,630,578 shares of the company traded hands, compared to its average volume of 1,541,472. Matador Resources has a 12 month low of $47.15 and a 12 month high of $71.08. 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's 50-day simple moving average is $52.34 and its 200-day simple moving average is $57.70. The firm has a market cap of $6.44 billion, a PE ratio of 6.83 and a beta of 3.26.

Matador Resources (NYSE:MTDR - Get Free Report) last released its quarterly 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 firm had revenue of $770.20 million for the quarter, compared to analyst estimates of $836.69 million. Matador Resources had a net margin of 27.45% and a return on equity of 20.01%. The company's revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period in the previous year, the business earned $1.86 earnings per share. As a group, equities analysts anticipate that Matador Resources will post 7.45 earnings per share for the current fiscal year.

Matador Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 15th will be given a $0.25 dividend. This is an increase 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 annualized dividend and a yield of 1.94%. Matador Resources's payout ratio is presently 10.60%.

Insiders Place Their Bets

In related news, EVP Bryan A. Erman acquired 1,000 shares of the firm's stock in a transaction on Friday, September 6th. The shares were purchased at an average price of $50.35 per share, with a total value of $50,350.00. Following the acquisition, the executive vice president now directly owns 2,750 shares in the company, valued at $138,462.50. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. In other news, EVP Bryan A. Erman acquired 1,000 shares of Matador Resources stock in a transaction on Friday, September 6th. The shares were purchased at an average price of $50.35 per share, with a total value of $50,350.00. Following the acquisition, the executive vice president now owns 2,750 shares in the company, valued at $138,462.50. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Joseph Wm Foran bought 2,500 shares of the company'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 of the company's stock, valued at $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 quarter, insiders have acquired 11,105 shares of company stock valued at $562,306. 6.10% of the stock is currently owned by corporate 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.