Matador Resources (NYSE:MTDR) Shares Acquired by Covestor Ltd

Covestor Ltd increased its holdings in shares of Matador Resources (NYSE:MTDR) by 154.8% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,060 shares of the energy company’s stock after purchasing an additional 644 shares during the quarter. Covestor Ltd’s holdings in Matador Resources were worth $52,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Janney Montgomery Scott LLC purchased a new stake in shares of Matador Resources during the 1st quarter valued at about $828,000. Prevail Innovative Wealth Advisors LLC raised its stake in shares of Matador Resources by 28.6% during the first quarter. Prevail Innovative Wealth Advisors LLC now owns 37,163 shares of the energy company’s stock valued at $2,481,000 after purchasing an additional 8,254 shares during the period. Price T Rowe Associates Inc. MD lifted its position in shares of Matador Resources by 5.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,104,791 shares of the energy company’s stock worth $73,768,000 after purchasing an additional 53,322 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Matador Resources by 0.9% during the first quarter. Vanguard Group Inc. now owns 11,124,705 shares of the energy company’s stock worth $742,797,000 after purchasing an additional 103,713 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale boosted its stake in shares of Matador Resources by 304.1% in the first quarter. DekaBank Deutsche Girozentrale now owns 13,288 shares of the energy company’s stock valued at $863,000 after purchasing an additional 10,000 shares during the period. 91.98% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Matador Resources

In other Matador Resources news, Director Robert Gaines Baty purchased 500 shares of the firm’s stock in a transaction on Friday, September 13th. The shares were purchased at an average price of $50.58 per share, for a total transaction of $25,290.00. Following the completion of the transaction, the director now owns 67,617 shares in the company, valued at $3,420,067.86. This represents a 0.74 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Bryan A. Erman acquired 1,000 shares of the business’s stock in a transaction dated Friday, September 6th. The shares were bought at an average price of $50.35 per share, with a total value of $50,350.00. Following the transaction, the executive vice president now directly owns 2,750 shares in the company, valued at approximately $138,462.50. The trade was a 57.14 % increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 11,105 shares of company stock valued at $562,306. 6.10% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. KeyCorp cut their price objective on shares of Matador Resources from $76.00 to $72.00 and set an “overweight” rating on the stock in a report on Wednesday, October 16th. Mizuho reduced their price target on Matador Resources from $85.00 to $74.00 and set an “outperform” rating for the company in a report on Monday, September 16th. JPMorgan Chase & Co. dropped their price target on shares of Matador Resources from $77.00 to $71.00 and set an “overweight” rating for the company in a research note on Wednesday, October 30th. 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, Benchmark reissued a “buy” rating and issued a $62.00 price objective on shares of Matador Resources in a report on Wednesday, October 23rd. 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 company presently has a consensus rating of “Moderate Buy” and a consensus price target of $74.92.

Matador Resources Price Performance

Shares of MTDR opened at $58.99 on Friday. Matador Resources has a one year low of $47.15 and a one year high of $71.08. The stock’s fifty day moving average is $52.36 and its 200-day moving average is $57.03. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.84 and a current ratio of 0.88. The firm has a market capitalization of $7.36 billion, a price-to-earnings ratio of 7.81 and a beta of 3.26.

Matador Resources (NYSE:MTDR) last released its earnings results on Tuesday, October 22nd. The energy company reported $1.89 EPS for the quarter, beating the consensus estimate of $1.78 by $0.11. The firm had revenue of $770.20 million for 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%. Matador Resources’s quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter last year, the company earned $1.86 EPS. Equities analysts anticipate that Matador Resources will post 7.5 EPS for the current year.

Matador Resources Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 15th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.70%. This is an increase from Matador Resources’s previous quarterly dividend of $0.20. The ex-dividend date is Friday, November 15th. Matador Resources’s dividend payout ratio is 10.60%.

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.