Victory Capital Management Inc. Raises Stock Position in Matador Resources (NYSE:MTDR)

Victory Capital Management Inc. boosted its stake in shares of Matador Resources (NYSE:MTDR - Free Report) by 2.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,752,102 shares of the energy company's stock after acquiring an additional 72,077 shares during the quarter. Victory Capital Management Inc. owned about 2.21% of Matador Resources worth $136,009,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Covestor Ltd boosted its stake in shares of Matador Resources by 121.4% during the 1st quarter. Covestor Ltd now owns 414 shares of the energy company's stock worth $28,000 after purchasing an additional 227 shares during the period. Denver PWM LLC purchased a new position in shares of Matador Resources during the second quarter valued at approximately $27,000. Advisors Asset Management Inc. boosted its position in shares of Matador Resources by 191.8% during the first quarter. Advisors Asset Management Inc. now owns 709 shares of the energy company's stock valued at $47,000 after buying an additional 466 shares during the period. Quarry LP grew its stake in shares of Matador Resources by 47.5% during the second quarter. Quarry LP now owns 779 shares of the energy company's stock valued at $46,000 after buying an additional 251 shares during the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of Matador Resources by 28.7% in the third quarter. GAMMA Investing LLC now owns 1,403 shares of the energy company's stock worth $69,000 after buying an additional 313 shares during the period. 91.98% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MTDR has been the topic of several research analyst reports. Capital One Financial raised Matador Resources from an "equal weight" rating to an "overweight" rating and upped their price objective for the company from $80.00 to $84.00 in a research report on Thursday, July 25th. Wells Fargo & Company cut their price target on shares of Matador Resources from $89.00 to $87.00 and set an "overweight" rating on the stock in a report on Tuesday, October 1st. Stephens lifted their price objective on shares of Matador Resources from $76.00 to $78.00 and gave the company an "overweight" rating in a report on Monday, October 21st. Wolfe Research began coverage on shares of Matador Resources in a research note on Thursday, July 18th. They issued a "peer perform" rating on the stock. Finally, 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 report on Friday, October 4th. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $74.92.

Insider Buying and Selling at Matador Resources

In other Matador Resources news, CAO Robert T. Macalik purchased 500 shares of the firm's stock in a transaction 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 purchase, the chief accounting officer now owns 29,800 shares in the company, valued at $1,497,450. This represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CAO Robert T. Macalik acquired 500 shares of the stock in a transaction dated Friday, September 6th. The stock was acquired at an average cost of $50.25 per share, for a total transaction of $25,125.00. Following the completion of the purchase, the chief accounting officer now owns 29,800 shares of the company's stock, valued at approximately $1,497,450. This represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Joseph Wm Foran bought 2,500 shares of Matador Resources stock in a transaction that occurred on Friday, September 6th. The stock was purchased at an average price of $51.47 per share, with a total value of $128,675.00. Following the purchase, the chief executive officer now directly owns 37,751 shares in the company, 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. Insiders bought a total of 11,105 shares of company stock worth $562,306 over the last three months. Corporate insiders own 6.10% of the company's stock.

Matador Resources Stock Up 1.3 %

Shares of MTDR traded up $0.74 during trading hours on Wednesday, hitting $57.98. The company had a trading volume of 1,565,516 shares, compared to its average volume of 1,537,768. The company has a current ratio of 0.88, a quick ratio of 0.84 and a debt-to-equity ratio of 0.71. The company has a market capitalization of $7.23 billion, a PE ratio of 7.68 and a beta of 3.26. Matador Resources has a one year low of $47.15 and a one year high of $71.08. The company's fifty day moving average price is $52.21 and its two-hundred day moving average price is $57.01.

Matador Resources (NYSE:MTDR - Get Free Report) last announced its earnings results on Tuesday, October 22nd. The energy company reported $1.89 EPS for the quarter, topping analysts' consensus estimates of $1.78 by $0.11. Matador Resources had a net margin of 27.45% and a return on equity of 20.01%. The business had revenue of $770.20 million during the quarter, compared to the consensus estimate of $836.69 million. During the same period in the previous year, the company posted $1.86 earnings per share. The firm's revenue was up 9.8% on a year-over-year basis. As a group, equities analysts forecast that Matador Resources will post 7.5 earnings per share for the current fiscal year.

Matador Resources Increases Dividend

The company also recently announced 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 is a boost 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 dividend on an annualized basis and a yield of 1.72%. Matador Resources's dividend payout ratio is presently 10.60%.

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.