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

QRG Capital Management Inc. lifted its stake in shares of Matador Resources (NYSE:MTDR) by 13.2% in the 3rd quarter, HoldingsChannel reports. The firm owned 5,133 shares of the energy company’s stock after buying an additional 598 shares during the quarter. QRG Capital Management Inc.’s holdings in Matador Resources were worth $254,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Covestor Ltd boosted its holdings in Matador Resources by 121.4% in the 1st quarter. Covestor Ltd now owns 414 shares of the energy company’s stock worth $28,000 after buying an additional 227 shares during the period. Denver PWM LLC bought a new position in Matador Resources in the 2nd quarter worth approximately $27,000. Advisors Asset Management Inc. boosted its holdings in Matador Resources by 191.8% in the 1st quarter. Advisors Asset Management Inc. now owns 709 shares of the energy company’s stock worth $47,000 after buying an additional 466 shares during the period. Quarry LP boosted its holdings in Matador Resources by 47.5% in the 2nd quarter. Quarry LP now owns 779 shares of the energy company’s stock worth $46,000 after buying an additional 251 shares during the period. Finally, GAMMA Investing LLC boosted its holdings in Matador Resources by 28.7% in the 3rd 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. Hedge funds and other institutional investors own 91.98% of the company’s stock.

Insiders Place Their Bets

In other news, CAO Robert T. Macalik acquired 500 shares of the stock in a transaction dated Friday, September 6th. The stock was purchased at an average cost of $50.25 per share, with a total value of $25,125.00. Following the completion of the purchase, the chief accounting officer now owns 29,800 shares in the company, valued at approximately $1,497,450. The trade was a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CAO Robert T. Macalik acquired 500 shares of the stock in a transaction dated Friday, September 6th. The stock was purchased at an average cost of $50.25 per share, with a total value of $25,125.00. Following the completion of the purchase, the chief accounting officer now owns 29,800 shares in the company, valued at approximately $1,497,450. The trade was a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Joseph Wm Foran acquired 2,500 shares of the stock in a transaction dated Friday, September 6th. The shares were purchased at an average cost of $51.47 per share, with a total value of $128,675.00. Following the completion of the purchase, the chief executive officer now owns 37,751 shares of the company’s stock, valued at approximately $1,943,043.97. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders acquired 11,105 shares of company stock valued at $562,306 over the last three months. Insiders own 6.10% of the company’s stock.

Analyst Ratings Changes

MTDR has been the subject of several analyst reports. Stephens raised their price objective on shares of Matador Resources from $76.00 to $78.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. Mizuho reduced their price target 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 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 research report on Thursday, July 25th. Benchmark restated a “buy” rating and set a $62.00 price target on shares of Matador Resources in a research report on Wednesday, October 23rd. Finally, Truist Financial reduced their price target on shares of Matador Resources from $86.00 to $75.00 and set a “buy” rating for the company in a research report on Monday, September 30th. Two equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $74.92.

Matador Resources Stock Performance

Matador Resources stock opened at $57.26 on Tuesday. The company has a quick ratio of 0.84, a current ratio of 0.88 and a debt-to-equity ratio of 0.71. The company has a market capitalization of $7.14 billion, a PE ratio of 7.58 and a beta of 3.26. The firm has a fifty day simple moving average of $52.02 and a two-hundred day simple moving average of $57.06. Matador Resources has a twelve month low of $47.15 and a twelve month high of $71.08.

Matador Resources (NYSE:MTDR) last posted its quarterly earnings results on Tuesday, October 22nd. The energy company reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.78 by $0.11. The business had revenue of $770.20 million during the quarter, compared to the consensus estimate of $836.69 million. Matador Resources had a net margin of 27.45% and a return on equity of 20.01%. The firm’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same period in the previous year, the firm posted $1.86 earnings per share. Research analysts expect that Matador Resources will post 7.45 EPS for the current year.

Matador Resources Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 15th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Friday, November 15th. 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 1.75%. Matador Resources’s payout ratio is currently 10.60%.

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.