Allspring Global Investments Holdings LLC Sells 27,547 Shares of Matador Resources (NYSE:MTDR)

Allspring Global Investments Holdings LLC cut its stake in Matador Resources (NYSE:MTDR) by 18.8% during the third quarter, HoldingsChannel reports. The firm owned 119,082 shares of the energy company’s stock after selling 27,547 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Matador Resources were worth $5,885,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Covestor Ltd raised its position in Matador Resources by 121.4% during the 1st 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. Denver PWM LLC purchased a new position in shares of Matador Resources during the second quarter valued at $27,000. Advisors Asset Management Inc. raised its holdings in shares of Matador Resources by 191.8% in the first quarter. Advisors Asset Management Inc. now owns 709 shares of the energy company’s stock valued at $47,000 after acquiring an additional 466 shares in the last quarter. Quarry LP lifted its stake in Matador Resources by 47.5% in the second quarter. Quarry LP now owns 779 shares of the energy company’s stock worth $46,000 after acquiring an additional 251 shares during the period. Finally, Fidelis Capital Partners LLC bought a new position in Matador Resources during the 1st quarter worth about $73,000. Hedge funds and other institutional investors own 91.98% of the company’s stock.

Insider Activity

In related news, CAO Robert T. Macalik acquired 500 shares of the stock in a transaction on Friday, August 2nd. The shares were acquired at an average price of $54.50 per share, for a total transaction of $27,250.00. Following the transaction, the chief accounting officer now owns 29,300 shares in the company, valued at approximately $1,596,850. This trade 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. In other news, CAO Robert T. Macalik acquired 500 shares of the firm’s stock in a transaction on Friday, August 2nd. The stock was acquired at an average price of $54.50 per share, for a total transaction of $27,250.00. Following the completion of the transaction, the chief accounting officer now owns 29,300 shares in the company, valued at approximately $1,596,850. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Brian J. Willey bought 1,500 shares of the stock in a transaction dated Friday, September 6th. The shares were purchased at an average cost of $50.50 per share, for a total transaction of $75,750.00. Following the completion of the purchase, the chief financial officer now owns 1,500 shares in the company, valued at approximately $75,750. The disclosure for this purchase can be found here. Insiders purchased a total of 12,300 shares of company stock valued at $634,615 in the last quarter. 6.10% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms have recently commented on MTDR. Capital One Financial upgraded shares of Matador Resources from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $80.00 to $84.00 in a report on Thursday, July 25th. TD Cowen boosted their price objective on shares of Matador Resources from $85.00 to $87.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. JPMorgan Chase & Co. dropped their target price on Matador Resources from $83.00 to $76.00 and set an “overweight” rating on the stock in a research report on Thursday, September 12th. 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 report on Tuesday, October 1st. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $70.00 price objective on shares of Matador Resources in a research report on Thursday. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $75.31.

Matador Resources Stock Down 1.1 %

Matador Resources stock opened at $51.83 on Monday. Matador Resources has a fifty-two week low of $47.15 and a fifty-two week high of $71.08. The company has a market cap of $6.47 billion, a PE ratio of 7.10 and a beta of 3.26. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.82 and a current ratio of 0.86. The business’s 50-day simple moving average is $52.74 and its two-hundred day simple moving average is $58.04.

Matador Resources (NYSE:MTDR) last posted its quarterly earnings results on Tuesday, October 22nd. The energy company reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.78 by $0.11. The company had revenue of $770.20 million during the quarter, compared to analyst estimates of $836.69 million. Matador Resources had a net margin of 27.45% and a return on equity of 20.63%. Matador Resources’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period last year, the firm posted $1.86 EPS. Equities analysts anticipate that Matador Resources will post 7.41 EPS for the current year.

Matador Resources Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 15th will be given a dividend of $0.25 per share. This is an increase from Matador Resources’s previous quarterly dividend of $0.20. This represents a $1.00 annualized dividend and a yield of 1.93%. The ex-dividend date is Friday, November 15th. Matador Resources’s dividend payout ratio (DPR) is currently 13.70%.

Matador Resources 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.