Swiss National Bank Reduces Position in Matador Resources (NYSE:MTDR)

Swiss National Bank trimmed its holdings in Matador Resources (NYSE:MTDR) by 0.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 231,502 shares of the energy company’s stock after selling 1,800 shares during the quarter. Swiss National Bank owned approximately 0.19% of Matador Resources worth $11,441,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of MTDR. Thrivent Financial for Lutherans increased its stake in Matador Resources by 0.5% in the third quarter. Thrivent Financial for Lutherans now owns 984,223 shares of the energy company’s stock worth $48,641,000 after purchasing an additional 4,572 shares during the period. Royce & Associates LP increased its stake in Matador Resources by 21.3% in the 3rd quarter. Royce & Associates LP now owns 357,563 shares of the energy company’s stock worth $17,671,000 after buying an additional 62,784 shares during the period. Lummis Asset Management LP lifted its holdings in Matador Resources by 24.7% during the 3rd quarter. Lummis Asset Management LP now owns 191,102 shares of the energy company’s stock valued at $9,444,000 after buying an additional 37,893 shares in the last quarter. KBC Group NV boosted its position in Matador Resources by 14.5% in the 3rd quarter. KBC Group NV now owns 3,453 shares of the energy company’s stock valued at $171,000 after buying an additional 436 shares during the period. Finally, Victory Capital Management Inc. increased its position in shares of Matador Resources by 2.7% during the third quarter. Victory Capital Management Inc. now owns 2,752,102 shares of the energy company’s stock worth $136,009,000 after acquiring an additional 72,077 shares during the period. 91.98% of the stock is owned by institutional investors.

Insider Activity at Matador Resources

In related news, EVP Bryan A. Erman acquired 1,000 shares of the company’s stock in a transaction dated Friday, September 6th. The shares were purchased at an average cost of $50.35 per share, with a total value of $50,350.00. Following the completion of the acquisition, the executive vice president now directly owns 2,750 shares of the company’s stock, valued at $138,462.50. This represents a 57.14 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Robert T. Macalik bought 500 shares of Matador Resources stock in a transaction that occurred on Friday, September 6th. The stock was purchased at an average price of $50.25 per share, with a total value of $25,125.00. Following the purchase, the chief accounting officer now directly owns 29,800 shares in the company, valued at $1,497,450. The trade was a 1.71 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased 11,105 shares of company stock valued at $562,306 in the last three months. 6.10% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of analysts recently issued reports on MTDR shares. BMO Capital Markets boosted their price target on Matador Resources from $75.00 to $78.00 and gave the company an “outperform” rating in a report on Friday, October 4th. Benchmark reiterated a “buy” rating and issued a $62.00 target price on shares of Matador Resources in a report on Wednesday, October 23rd. Stephens raised their price target on Matador Resources from $76.00 to $78.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. Wells Fargo & Company lowered their price objective on shares of Matador Resources from $89.00 to $87.00 and set an “overweight” rating for the company in a research note on Tuesday, October 1st. Finally, JPMorgan Chase & Co. cut their target price on shares of Matador Resources from $77.00 to $71.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 30th. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $74.92.

Matador Resources Price Performance

Shares of MTDR opened at $60.91 on Friday. The company has a 50 day moving average of $53.48 and a two-hundred day moving average of $56.81. 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 twelve month low of $47.15 and a twelve month high of $71.08. The company has a market cap of $7.60 billion, a price-to-earnings ratio of 8.07 and a beta of 3.26.

Matador Resources (NYSE:MTDR) last posted 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. Matador Resources had a return on equity of 20.01% and a net margin of 27.45%. The firm had revenue of $770.20 million during the quarter, compared to analysts’ expectations of $836.69 million. During the same quarter last year, the firm earned $1.86 EPS. The business’s quarterly revenue was up 9.8% on a year-over-year basis. As a group, analysts predict that Matador Resources will post 7.5 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. Stockholders of record on Friday, November 15th will be issued a dividend of $0.25 per share. The ex-dividend date is Friday, November 15th. This represents a $1.00 annualized dividend and a dividend yield of 1.64%. This is an increase from Matador Resources’s previous quarterly dividend of $0.20. Matador Resources’s dividend payout ratio is 13.25%.

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.