PDT Partners LLC Cuts Stock Holdings in Matador Resources (NYSE:MTDR)

PDT Partners LLC reduced its position in shares of Matador Resources (NYSE:MTDR - Free Report) by 32.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 50,278 shares of the energy company's stock after selling 24,306 shares during the period. PDT Partners LLC's holdings in Matador Resources were worth $2,485,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in MTDR. Boston Trust Walden Corp purchased a new position in shares of Matador Resources during the 3rd quarter valued at $51,788,000. Dimensional Fund Advisors LP lifted its holdings in shares of Matador Resources by 8.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,734,819 shares of the energy company's stock worth $282,196,000 after acquiring an additional 356,506 shares during the last quarter. Los Angeles Capital Management LLC bought a new stake in shares of Matador Resources during the 2nd quarter worth $18,747,000. FMR LLC lifted its holdings in shares of Matador Resources by 162.9% during the 3rd quarter. FMR LLC now owns 478,795 shares of the energy company's stock worth $23,662,000 after acquiring an additional 296,663 shares during the last quarter. Finally, Clearbridge Investments LLC lifted its holdings in shares of Matador Resources by 10.5% during the 2nd quarter. Clearbridge Investments LLC now owns 2,250,036 shares of the energy company's stock worth $134,102,000 after acquiring an additional 214,334 shares during the last quarter. 91.98% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on MTDR. KeyCorp dropped their price objective on shares of Matador Resources from $76.00 to $72.00 and set an "overweight" rating for the company in a report on Wednesday, October 16th. Mizuho dropped their price objective on shares of Matador Resources from $85.00 to $74.00 and set an "outperform" rating for the company in a report on Monday, September 16th. Benchmark reaffirmed a "buy" rating and set a $62.00 price objective on shares of Matador Resources in a report on Wednesday, October 23rd. BMO Capital Markets lifted 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. Finally, Truist Financial dropped their price objective on shares of Matador Resources from $86.00 to $75.00 and set a "buy" rating for the company in a report on Monday, September 30th. Two equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $74.92.

Matador Resources Trading Up 0.8 %

Shares of NYSE:MTDR traded up $0.45 during midday trading on Friday, hitting $60.01. 589,683 shares of the stock traded hands, compared to its average volume of 1,240,708. The stock has a market capitalization of $7.49 billion, a PE ratio of 7.95 and a beta of 3.26. The business's 50 day moving average is $54.25 and its two-hundred day moving average is $56.65. The company has a quick ratio of 0.84, a current ratio of 0.88 and a debt-to-equity ratio of 0.71. Matador Resources has a one year low of $47.15 and a one year high of $71.08.

Matador Resources (NYSE:MTDR - Get Free Report) last issued its quarterly earnings data on Tuesday, October 22nd. The energy company reported $1.89 EPS for the quarter, beating the consensus estimate of $1.78 by $0.11. Matador Resources had a net margin of 27.45% and a return on equity of 20.01%. The firm had revenue of $770.20 million during the quarter, compared to the consensus estimate of $836.69 million. During the same period in the prior year, the firm posted $1.86 earnings per share. The company's quarterly revenue was up 9.8% compared to the same quarter last year. As a group, research analysts forecast that Matador Resources will post 7.5 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. Investors of record on Friday, November 15th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.00 annualized dividend and a dividend yield of 1.67%. This is a boost from Matador Resources's previous quarterly dividend of $0.20. Matador Resources's payout ratio is currently 13.25%.

Insider Activity at Matador Resources

In other Matador Resources news, CFO Brian J. Willey acquired 1,500 shares of the business's stock in a transaction on Friday, September 6th. The shares were acquired at an average price of $50.50 per share, for a total transaction of $75,750.00. Following the completion of the acquisition, the chief financial officer now owns 1,500 shares in the company, valued at $75,750. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Bryan A. Erman acquired 1,000 shares of the business's stock in a transaction on Friday, September 6th. The stock was acquired at an average price of $50.35 per share, for a total transaction of $50,350.00. Following the acquisition, the executive vice president now owns 2,750 shares of the company's stock, valued at approximately $138,462.50. This trade represents a 57.14 % increase in their position. The disclosure for this purchase can be found here. Insiders have purchased 11,105 shares of company stock worth $562,306 over the last 90 days. 6.10% of the stock is owned by company insiders.

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.