Quest Partners LLC bought a new position in shares of Matador Resources (NYSE:MTDR - Free Report) in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 26,017 shares of the energy company's stock, valued at approximately $1,286,000.
Several other large investors have also made changes to their positions in MTDR. Vanguard Group Inc. raised its stake in Matador Resources by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 11,124,705 shares of the energy company's stock valued at $742,797,000 after purchasing an additional 103,713 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Matador Resources by 8.1% in 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 buying an additional 356,506 shares during the last quarter. Victory Capital Management Inc. raised its position in shares of Matador Resources by 2.7% in the third quarter. Victory Capital Management Inc. now owns 2,752,102 shares of the energy company's stock valued at $136,009,000 after buying an additional 72,077 shares during the last quarter. Clearbridge Investments LLC lifted its stake 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 worth $134,102,000 after buying an additional 214,334 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its position in Matador Resources by 5.1% during 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 acquiring an additional 53,322 shares during the last quarter. 91.98% of the stock is owned by institutional investors and hedge funds.
Insider Activity
In related news, CAO Robert T. Macalik purchased 500 shares of the business's stock in a transaction dated Friday, September 6th. The stock was acquired at an average price of $50.25 per share, for a total transaction of $25,125.00. Following the acquisition, the chief accounting officer now directly owns 29,800 shares of the company's stock, valued at $1,497,450. This trade represents a 1.71 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Joseph Wm Foran bought 2,500 shares of the stock in a transaction on Friday, September 6th. The shares were bought at an average price 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 $1,943,043.97. This trade represents a 7.09 % increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 11,105 shares of company stock valued at $562,306. Company insiders own 6.10% of the company's stock.
Analysts Set New Price Targets
Several analysts have issued reports on the company. Truist Financial dropped their target price on Matador Resources from $86.00 to $75.00 and set a "buy" rating for the company in a report on Monday, September 30th. Wells Fargo & Company reduced their target price on shares of Matador Resources from $89.00 to $87.00 and set an "overweight" rating on the stock in a research note on Tuesday, October 1st. Benchmark reissued a "buy" rating and issued a $62.00 price target on shares of Matador Resources in a research note on Wednesday, October 23rd. BMO Capital Markets lifted their price target 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. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and issued a $70.00 target price on shares of Matador Resources in a research report on Thursday, October 24th. 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 data from MarketBeat.com, Matador Resources currently has an average rating of "Moderate Buy" and a consensus target price of $74.92.
Read Our Latest Analysis on MTDR
Matador Resources Stock Up 2.5 %
Shares of MTDR stock traded up $1.42 during trading hours on Wednesday, reaching $59.19. 971,332 shares of the stock were exchanged, compared to its average volume of 1,530,651. Matador Resources has a 12-month low of $47.15 and a 12-month high of $71.08. The business's fifty day moving average is $52.85 and its two-hundred day moving average is $56.84. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.88 and a quick ratio of 0.84. The firm has a market capitalization of $7.39 billion, a P/E ratio of 7.65 and a beta of 3.26.
Matador Resources (NYSE:MTDR - Get Free Report) last released its quarterly earnings data 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. The company had revenue of $770.20 million for the quarter, compared to analysts' expectations of $836.69 million. Matador Resources had a net margin of 27.45% and a return on equity of 20.01%. The firm's revenue for the quarter was up 9.8% on a year-over-year basis. During the same quarter last year, the company earned $1.86 earnings per share. As a group, research analysts expect that Matador Resources will post 7.5 EPS 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 $0.25 dividend. This is an increase from Matador Resources's previous quarterly dividend of $0.20. This represents a $1.00 annualized dividend and a dividend yield of 1.69%. The ex-dividend date of this dividend is Friday, November 15th. Matador Resources's dividend payout ratio (DPR) is 13.25%.
Matador Resources Profile
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Free Report)
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.
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