TimesSquare Capital Management LLC Lowers Holdings in Matador Resources (NYSE:MTDR)

TimesSquare Capital Management LLC trimmed its position in Matador Resources (NYSE:MTDR - Free Report) by 10.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 575,176 shares of the energy company's stock after selling 68,105 shares during the quarter. TimesSquare Capital Management LLC owned about 0.46% of Matador Resources worth $28,425,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Janney Montgomery Scott LLC acquired a new stake in shares of Matador Resources in the first quarter valued at about $828,000. Prevail Innovative Wealth Advisors LLC raised its stake in Matador Resources by 28.6% in the first quarter. Prevail Innovative Wealth Advisors LLC now owns 37,163 shares of the energy company's stock valued at $2,481,000 after buying an additional 8,254 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of 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 purchasing an additional 53,322 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of 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 acquiring an additional 103,713 shares during the period. Finally, SG Americas Securities LLC increased its stake in Matador Resources by 1,166.1% in the first quarter. SG Americas Securities LLC now owns 31,172 shares of the energy company's stock valued at $2,081,000 after purchasing an additional 28,710 shares during the period. 91.98% of the stock is currently owned by institutional investors and hedge funds.

Matador Resources Stock Up 0.1 %

MTDR traded up $0.04 during midday trading on Friday, hitting $56.58. The company had a trading volume of 938,828 shares, compared to its average volume of 1,835,815. The company has a market capitalization of $7.06 billion, a price-to-earnings ratio of 7.49 and a beta of 3.26. 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 52 week low of $47.15 and a 52 week high of $71.08. The stock's 50 day moving average price is $52.01 and its 200 day moving average price is $57.18.

Matador Resources (NYSE:MTDR - Get Free Report) last posted its earnings results on Tuesday, October 22nd. The energy company reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate 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 return on equity of 20.01% and a net margin of 27.45%. Matador Resources's quarterly revenue was up 9.8% on a year-over-year basis. During the same period last year, the firm earned $1.86 earnings per share. On average, research analysts anticipate that Matador Resources will post 7.45 earnings per share for the current fiscal year.

Matador Resources Increases Dividend

The business also recently disclosed 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. This represents a $1.00 dividend on an annualized basis and a yield of 1.77%. 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. Matador Resources's dividend payout ratio (DPR) is 10.60%.

Insiders Place Their Bets

In other news, EVP Glenn W. Stetson purchased 1,000 shares of the business's stock in a transaction dated Wednesday, October 30th. The shares were purchased at an average price of $51.33 per share, for a total transaction of $51,330.00. Following the completion of the acquisition, the executive vice president now directly owns 85,935 shares in the company, valued at $4,411,043.55. 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 this hyperlink. In other news, EVP Glenn W. Stetson acquired 1,000 shares of the company's stock in a transaction on Wednesday, October 30th. The stock was bought at an average cost of $51.33 per share, with a total value of $51,330.00. Following the completion of the purchase, the executive vice president now directly owns 85,935 shares of the company's stock, valued at $4,411,043.55. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Joseph Wm Foran purchased 2,500 shares of Matador Resources stock in a transaction that occurred on Monday, September 9th. The stock was bought at an average cost of $49.97 per share, for a total transaction of $124,925.00. Following the purchase, the chief executive officer now directly owns 40,251 shares in the company, valued at $2,011,342.47. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 11,105 shares of company stock valued at $562,306. 6.10% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. BMO Capital Markets raised their target price on shares of Matador Resources from $75.00 to $78.00 and gave the stock an "outperform" rating in a research note on Friday, October 4th. Mizuho cut their price target on Matador Resources from $85.00 to $74.00 and set an "outperform" rating for the company in a report on Monday, September 16th. Truist Financial cut their price target on shares of Matador Resources from $86.00 to $75.00 and set a "buy" rating on the stock in a report on Monday, September 30th. Wells Fargo & Company cut their price target on Matador Resources from $89.00 to $87.00 and set an "overweight" rating on the stock in a research note on Tuesday, October 1st. Finally, KeyCorp lowered their target price on shares of Matador Resources from $76.00 to $72.00 and set an "overweight" rating for the company in a research note on Wednesday, October 16th. Two investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $74.92.

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.