Zurcher Kantonalbank Zurich Cantonalbank Has $1.03 Million Stock Position in Matador Resources (NYSE:MTDR)

Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Matador Resources (NYSE:MTDR) by 14.1% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 20,843 shares of the energy company’s stock after purchasing an additional 2,578 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Matador Resources were worth $1,030,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in MTDR. Bridgewater Associates LP increased its stake in Matador Resources by 93.8% in the 3rd quarter. Bridgewater Associates LP now owns 91,969 shares of the energy company’s stock valued at $4,545,000 after buying an additional 44,508 shares during the last quarter. BNP Paribas Financial Markets increased its position in shares of Matador Resources by 71.3% in the third quarter. BNP Paribas Financial Markets now owns 26,959 shares of the energy company’s stock valued at $1,332,000 after acquiring an additional 11,218 shares during the last quarter. Millrace Asset Group Inc. bought a new stake in Matador Resources during the third quarter worth about $861,000. Quantbot Technologies LP acquired a new position in Matador Resources during the third quarter valued at approximately $891,000. Finally, FMR LLC grew its stake in Matador Resources by 162.9% in the third quarter. FMR LLC now owns 478,795 shares of the energy company’s stock valued at $23,662,000 after purchasing an additional 296,663 shares in the last quarter. Institutional investors own 91.98% of the company’s stock.

Matador Resources Trading Up 1.0 %

Shares of Matador Resources stock opened at $58.11 on Friday. 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 50-day moving average of $54.89 and a 200-day moving average of $56.58. Matador Resources has a 52-week low of $47.15 and a 52-week high of $71.08. The stock has a market cap of $7.25 billion, a PE ratio of 7.70 and a beta of 3.26.

Matador Resources (NYSE:MTDR) last issued its quarterly earnings data 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. Matador Resources had a net margin of 27.45% and a return on equity of 20.01%. The business had revenue of $770.20 million during the quarter, compared to analysts’ expectations of $836.69 million. During the same quarter in the previous year, the company earned $1.86 EPS. The business’s revenue was up 9.8% on a year-over-year basis. As a group, sell-side analysts forecast that Matador Resources will post 7.5 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. 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 represents a $1.00 dividend on an annualized basis and a yield of 1.72%. This is an increase from Matador Resources’s previous quarterly dividend of $0.20. Matador Resources’s dividend payout ratio is currently 13.25%.

Insiders Place Their Bets

In other news, EVP Glenn W. Stetson acquired 1,000 shares of Matador Resources stock in a transaction on Wednesday, October 30th. The shares were purchased at an average cost of $51.33 per share, for a total transaction of $51,330.00. Following the completion of the purchase, the executive vice president now directly owns 85,935 shares of the company’s stock, valued at approximately $4,411,043.55. This represents a 1.18 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Robert Gaines Baty bought 500 shares of the company’s stock in a transaction dated Friday, September 13th. The stock was purchased at an average price of $50.58 per share, with a total value of $25,290.00. Following the completion of the transaction, the director now directly owns 67,617 shares in the company, valued at approximately $3,420,067.86. This represents a 0.74 % increase in their position. The disclosure for this purchase can be found here. Insiders have purchased a total of 5,605 shares of company stock worth $282,406 in the last 90 days. Company insiders own 6.10% of the company’s stock.

Analyst Upgrades and Downgrades

MTDR has been the subject of several recent analyst reports. Stephens increased their price objective on Matador Resources from $76.00 to $78.00 and gave the company an “overweight” rating in a report on Monday, October 21st. JPMorgan Chase & Co. cut 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. Mizuho lowered their price objective on shares of Matador Resources from $85.00 to $74.00 and set an “outperform” rating on the stock in a research note on Monday, September 16th. Benchmark reiterated a “buy” rating and issued a $62.00 target price on shares of Matador Resources in a research note on Wednesday, October 23rd. Finally, Wells Fargo & Company lowered their price target on Matador Resources from $89.00 to $87.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 1st. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $74.92.

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.