Empowered Funds LLC Has $1.76 Million Position in Matador Resources (NYSE:MTDR)

Empowered Funds LLC lessened its stake in Matador Resources (NYSE:MTDR) by 7.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 35,584 shares of the energy company’s stock after selling 3,060 shares during the quarter. Empowered Funds LLC’s holdings in Matador Resources were worth $1,759,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Securian Asset Management Inc. grew its stake in shares of Matador Resources by 1.9% in the second quarter. Securian Asset Management Inc. now owns 9,255 shares of the energy company’s stock valued at $552,000 after acquiring an additional 170 shares in the last quarter. Raymond James Trust N.A. lifted its stake in shares of Matador Resources by 3.6% in the 2nd quarter. Raymond James Trust N.A. now owns 5,714 shares of the energy company’s stock valued at $341,000 after acquiring an additional 198 shares during the last quarter. Covestor Ltd boosted its stake in shares of Matador Resources by 121.4% during the first quarter. Covestor Ltd now owns 414 shares of the energy company’s stock valued at $28,000 after purchasing an additional 227 shares in the last quarter. Fifth Third Bancorp grew its holdings in Matador Resources by 16.6% during the 2nd quarter. Fifth Third Bancorp now owns 1,709 shares of the energy company’s stock worth $102,000 after acquiring an additional 243 shares during the last quarter. Finally, Quarry LP increased its holdings in Matador Resources by 47.5% in the second quarter. Quarry LP now owns 779 shares of the energy company’s stock valued at $46,000 after purchasing an additional 251 shares during the period. Institutional investors own 91.98% of the company’s stock.

Insider Buying and Selling at Matador Resources

In other news, CAO Robert T. Macalik purchased 500 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The stock was bought at an average price of $50.25 per share, for a total transaction of $25,125.00. Following the completion of the purchase, the chief accounting officer now directly owns 29,800 shares of the company’s stock, valued at $1,497,450. The trade was a 1.71 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Brian J. Willey acquired 1,500 shares of the company’s stock in a transaction on Friday, September 6th. The stock was purchased at an average cost of $50.50 per share, for a total transaction of $75,750.00. Following the completion of the transaction, the chief financial officer now owns 1,500 shares in the company, valued at approximately $75,750. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders purchased a total of 11,105 shares of company stock worth $562,306 in the last three months. 6.10% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on MTDR. Truist Financial dropped their target price on shares of Matador Resources from $86.00 to $75.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. Wells Fargo & Company cut their target price on Matador Resources from $89.00 to $87.00 and set an “overweight” rating for the company in a research note on Tuesday, October 1st. Mizuho dropped their target price on shares of Matador Resources from $85.00 to $74.00 and set an “outperform” rating for the company in a research report on Monday, September 16th. Capital One Financial upgraded Matador Resources from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $80.00 to $84.00 in a research report on Thursday, July 25th. Finally, BMO Capital Markets lifted their price objective on Matador Resources from $75.00 to $78.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $74.92.

Matador Resources Stock Performance

Shares of MTDR stock opened at $59.19 on Thursday. The business’s fifty day simple moving average is $53.05 and its 200-day simple moving average is $56.86. Matador Resources has a 12-month low of $47.15 and a 12-month high of $71.08. The company has a market cap of $7.39 billion, a PE ratio of 7.84 and a beta of 3.26. The company has a current ratio of 0.88, a quick ratio of 0.84 and a debt-to-equity ratio of 0.71.

Matador Resources (NYSE:MTDR) last posted its earnings results on Tuesday, October 22nd. The energy company reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.78 by $0.11. The firm had revenue of $770.20 million during 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 business’s revenue was up 9.8% compared to the same quarter last year. During the same period in the previous year, the business posted $1.86 EPS. Analysts expect that Matador Resources will post 7.5 earnings per share for the current fiscal year.

Matador Resources Increases Dividend

The firm 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 is Friday, November 15th. This is a positive change from Matador Resources’s previous quarterly dividend of $0.20. This represents a $1.00 dividend on an annualized basis and a yield of 1.69%. Matador Resources’s payout ratio is presently 13.25%.

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.