Burford Brothers Inc. Trims Stock Position in Matador Resources (NYSE:MTDR)

Burford Brothers Inc. trimmed its holdings in shares of Matador Resources (NYSE:MTDR) by 4.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,626 shares of the energy company’s stock after selling 1,262 shares during the period. Burford Brothers Inc.’s holdings in Matador Resources were worth $1,266,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the stock. Denver PWM LLC acquired a new stake in shares of Matador Resources during the 2nd quarter worth about $27,000. Covestor Ltd boosted its holdings in shares of Matador Resources by 121.4% during the first quarter. Covestor Ltd now owns 414 shares of the energy company’s stock worth $28,000 after purchasing an additional 227 shares during the last quarter. Quarry LP increased its stake in Matador Resources by 47.5% in the second quarter. Quarry LP now owns 779 shares of the energy company’s stock valued at $46,000 after purchasing an additional 251 shares during the last quarter. Advisors Asset Management Inc. lifted its position in Matador Resources by 191.8% during the first 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. Finally, GAMMA Investing LLC boosted its stake 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 last quarter. 91.98% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

MTDR has been the subject of several research reports. Capital One Financial raised shares of Matador Resources from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $80.00 to $84.00 in a research note on Thursday, July 25th. JPMorgan Chase & Co. cut their price objective on Matador Resources from $83.00 to $76.00 and set an “overweight” rating on the stock in a report on Thursday, September 12th. Stephens raised their price target on shares of Matador Resources from $76.00 to $78.00 and gave the company an “overweight” rating in a report on Monday, October 21st. KeyCorp reduced their price target on shares of Matador Resources from $76.00 to $72.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 16th. Finally, Wolfe Research started coverage on Matador Resources in a report on Thursday, July 18th. They issued a “peer perform” rating for the company. Two equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $75.31.

Matador Resources Stock Performance

Shares of MTDR opened at $51.81 on Friday. The firm has a market cap of $6.47 billion, a price-to-earnings ratio of 6.86 and a beta of 3.26. The company has a quick ratio of 0.82, a current ratio of 0.86 and a debt-to-equity ratio of 0.41. The business’s 50 day moving average is $52.74 and its two-hundred day moving average is $58.20. Matador Resources has a 52-week low of $47.15 and a 52-week high of $71.08.

Matador Resources (NYSE:MTDR) last announced 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 20.63%. The company had revenue of $770.20 million during the quarter, compared to analyst estimates of $836.69 million. During the same period last year, the business earned $1.86 EPS. The firm’s revenue for the quarter was up 9.8% compared to the same quarter last year. Analysts forecast that Matador Resources will post 7.41 EPS for the current fiscal year.

Matador Resources Increases Dividend

The business also recently disclosed 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 of this dividend is Friday, November 15th. This represents a $1.00 dividend on an annualized basis and a yield of 1.93%. This is a positive change from Matador Resources’s previous quarterly dividend of $0.20. Matador Resources’s payout ratio is currently 10.60%.

Insider Buying and Selling

In related news, CAO Robert T. Macalik acquired 500 shares of the stock in a transaction that occurred 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 completion of the purchase, the chief accounting officer now directly owns 29,300 shares of the company’s stock, valued at $1,596,850. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Matador Resources news, CEO Joseph Wm Foran purchased 2,000 shares of the firm’s stock in a transaction on Friday, August 2nd. The shares were purchased at an average price of $55.96 per share, for a total transaction of $111,920.00. Following the completion of the transaction, 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 available through the SEC website. Also, CAO Robert T. Macalik purchased 500 shares of the company’s stock in a transaction on Friday, August 2nd. The stock was bought at an average cost of $54.50 per share, for a total transaction of $27,250.00. Following the acquisition, the chief accounting officer now directly owns 29,300 shares of the company’s stock, valued at $1,596,850. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders purchased a total of 12,300 shares of company stock worth $634,615 in the last three months. 6.10% of the stock is owned by insiders.

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.