Matador Resources (NYSE:MTDR) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. reduced its stake in Matador Resources (NYSE:MTDR - Free Report) by 18.4% during the third quarter, according to its most recent filing with the SEC. The fund owned 703,726 shares of the energy company's stock after selling 158,950 shares during the quarter. Principal Financial Group Inc. owned 0.56% of Matador Resources worth $34,778,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in MTDR. Janney Montgomery Scott LLC acquired a new position in Matador Resources during the 1st quarter worth approximately $828,000. Prevail Innovative Wealth Advisors LLC boosted its stake in shares of Matador Resources by 28.6% during the 1st quarter. Prevail Innovative Wealth Advisors LLC now owns 37,163 shares of the energy company's stock worth $2,481,000 after acquiring an additional 8,254 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Matador Resources by 5.1% during the 1st 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 period. Vanguard Group Inc. lifted its stake in shares of Matador Resources by 0.9% in the first quarter. Vanguard Group Inc. now owns 11,124,705 shares of the energy company's stock valued at $742,797,000 after buying an additional 103,713 shares during the period. Finally, SG Americas Securities LLC lifted its stake in Matador Resources by 1,166.1% during the first quarter. SG Americas Securities LLC now owns 31,172 shares of the energy company's stock worth $2,081,000 after purchasing an additional 28,710 shares during the period. 91.98% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Capital One Financial upgraded Matador Resources from an "equal weight" rating to an "overweight" rating and raised their price target for the stock from $80.00 to $84.00 in a research report on Thursday, July 25th. Stephens raised their price objective on shares of Matador Resources from $76.00 to $78.00 and gave the company an "overweight" rating in a research report on Monday, October 21st. BMO Capital Markets boosted their price objective on shares of Matador Resources from $75.00 to $78.00 and gave the company an "outperform" rating in a research report on Friday, October 4th. Truist Financial cut 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, Benchmark reiterated a "buy" rating and issued a $62.00 price objective on shares of Matador Resources in a report on Wednesday, October 23rd. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $74.92.

Matador Resources Price Performance

MTDR stock traded up $0.39 during mid-day trading on Tuesday, reaching $57.67. 762,585 shares of the company's stock were exchanged, compared to its average volume of 1,535,015. The company has a market cap of $7.20 billion, a price-to-earnings ratio of 7.66 and a beta of 3.26. The stock's 50 day moving average is $52.02 and its 200 day moving average is $57.06. 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 current ratio of 0.88 and a quick ratio of 0.84.

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 for the quarter, topping 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 for the quarter, compared to analysts' expectations of $836.69 million. During the same period in the prior year, the firm earned $1.86 earnings per share. The company's quarterly revenue was up 9.8% compared to the same quarter last year. On average, research analysts expect that Matador Resources will post 7.45 EPS for the current year.

Matador Resources Increases Dividend

The firm 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 $0.25 dividend. The ex-dividend date of this dividend is Friday, November 15th. This is a positive change from Matador Resources's previous quarterly dividend of $0.20. This represents a $1.00 annualized dividend and a yield of 1.73%. Matador Resources's dividend payout ratio (DPR) is 13.25%.

Insider Transactions at Matador Resources

In other news, CAO Robert T. Macalik acquired 500 shares of the firm's stock in a transaction on Friday, September 6th. The stock was purchased at an average price of $50.25 per share, for a total transaction of $25,125.00. Following the purchase, the chief accounting officer now owns 29,800 shares in the company, valued at approximately $1,497,450. 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 the SEC website. In other news, EVP Bryan A. Erman bought 1,000 shares of the company's stock in a transaction dated Friday, September 6th. The shares were purchased at an average price of $50.35 per share, for a total transaction of $50,350.00. Following the completion of the purchase, the executive vice president now owns 2,750 shares in the company, valued at approximately $138,462.50. This represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Robert T. Macalik bought 500 shares of the firm's stock in a transaction that occurred on Friday, September 6th. The stock was bought at an average cost of $50.25 per share, for a total transaction of $25,125.00. Following the completion of the acquisition, the chief accounting officer now owns 29,800 shares in the company, valued at $1,497,450. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 11,105 shares of company stock worth $562,306. Insiders own 6.10% of the company's stock.

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.