Harbour Capital Advisors LLC Sells 1,375 Shares of Matador Resources (NYSE:MTDR)

Harbour Capital Advisors LLC lessened its stake in Matador Resources (NYSE:MTDR) by 12.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,680 shares of the energy company’s stock after selling 1,375 shares during the quarter. Harbour Capital Advisors LLC’s holdings in Matador Resources were worth $514,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Element Capital Management LLC bought a new stake in shares of Matador Resources in the 1st quarter valued at about $28,572,000. Dimensional Fund Advisors LP grew its holdings in Matador Resources by 8.1% during the second quarter. Dimensional Fund Advisors LP now owns 4,734,819 shares of the energy company’s stock valued at $282,196,000 after purchasing an additional 356,506 shares during the period. Wellington Management Group LLP increased its stake in Matador Resources by 44.8% in the fourth quarter. Wellington Management Group LLP now owns 1,065,291 shares of the energy company’s stock valued at $60,572,000 after purchasing an additional 329,522 shares in the last quarter. Los Angeles Capital Management LLC acquired a new stake in Matador Resources in the second quarter worth $18,747,000. Finally, Principal Financial Group Inc. boosted its position in shares of Matador Resources by 38.5% during the first quarter. Principal Financial Group Inc. now owns 1,028,997 shares of the energy company’s stock worth $68,706,000 after purchasing an additional 285,954 shares in the last quarter. Institutional investors and hedge funds own 91.98% of the company’s stock.

Analyst Ratings Changes

MTDR has been the topic of several research analyst reports. JPMorgan Chase & Co. dropped their price objective on Matador Resources from $83.00 to $76.00 and set an “overweight” rating on the stock in a research note on Thursday, September 12th. Royal Bank of Canada reiterated an “outperform” rating and issued a $75.00 price target on shares of Matador Resources in a report on Friday, September 27th. Wells Fargo & Company dropped their price objective on shares of Matador Resources from $89.00 to $87.00 and set an “overweight” rating on the stock in a report on Tuesday, October 1st. TD Cowen upped their target price 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. Finally, Mizuho cut their price target on Matador Resources from $85.00 to $74.00 and set an “outperform” rating on the stock in a report on Monday, September 16th. Two analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, Matador Resources presently has an average rating of “Moderate Buy” and a consensus price target of $75.54.

Insider Buying and Selling

In other Matador Resources news, CEO Joseph Wm Foran purchased 2,000 shares of the business’s stock in a transaction on Friday, August 2nd. The stock was acquired at an average price of $55.96 per share, with a total value of $111,920.00. Following the acquisition, the chief executive officer now directly owns 35,251 shares of the company’s stock, valued at $1,972,645.96. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, CEO Joseph Wm Foran bought 2,000 shares of the business’s stock in a transaction dated Friday, August 2nd. The stock was bought at an average price of $55.96 per share, for a total transaction of $111,920.00. Following the purchase, the chief executive officer now owns 35,251 shares in the company, valued at $1,972,645.96. This represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Brian J. Willey bought 1,500 shares of Matador Resources stock in a transaction that occurred on Friday, September 6th. The shares were bought at an average cost of $50.50 per share, with a total value of $75,750.00. Following the acquisition, the chief financial officer now directly owns 1,500 shares in the company, valued at $75,750. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 12,300 shares of company stock valued at $634,615. 6.10% of the stock is owned by insiders.

Matador Resources Price Performance

Shares of MTDR opened at $52.46 on Friday. The company has a market cap of $6.55 billion, a price-to-earnings ratio of 7.19 and a beta of 3.26. The company has a current ratio of 0.86, a quick ratio of 0.82 and a debt-to-equity ratio of 0.41. The company’s fifty day simple moving average is $53.32 and its 200 day simple moving average is $58.91. Matador Resources has a 1-year low of $47.15 and a 1-year high of $71.08.

Matador Resources (NYSE:MTDR) last issued its earnings results on Tuesday, July 23rd. The energy company reported $2.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.76 by $0.29. Matador Resources had a net margin of 29.01% and a return on equity of 21.12%. The company had revenue of $847.14 million for the quarter, compared to analysts’ expectations of $822.55 million. During the same period in the prior year, the firm earned $1.42 EPS. Matador Resources’s quarterly revenue was up 32.8% compared to the same quarter last year. On average, research analysts forecast that Matador Resources will post 7.4 earnings per share for the current fiscal year.

Matador Resources Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 15th will be paid 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 dividend yield of 1.91%. The ex-dividend date is Friday, November 15th. Matador Resources’s payout ratio is currently 10.96%.

Matador Resources Company 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.