MQS Management LLC Reduces Position in Matador Resources (NYSE:MTDR)

MQS Management LLC trimmed its holdings in Matador Resources (NYSE:MTDR) by 30.4% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,433 shares of the energy company’s stock after selling 2,374 shares during the period. MQS Management LLC’s holdings in Matador Resources were worth $268,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Victory Capital Management Inc. lifted its stake in Matador Resources by 2.7% in the 3rd quarter. Victory Capital Management Inc. now owns 2,752,102 shares of the energy company’s stock worth $136,009,000 after purchasing an additional 72,077 shares in the last quarter. GSA Capital Partners LLP increased its holdings in shares of Matador Resources by 176.1% in the third quarter. GSA Capital Partners LLP now owns 9,620 shares of the energy company’s stock valued at $475,000 after purchasing an additional 6,136 shares during the last quarter. Covestor Ltd lifted its position in Matador Resources by 154.8% during the third quarter. Covestor Ltd now owns 1,060 shares of the energy company’s stock worth $52,000 after buying an additional 644 shares in the last quarter. Verdence Capital Advisors LLC boosted its stake in Matador Resources by 19.2% during the third quarter. Verdence Capital Advisors LLC now owns 7,149 shares of the energy company’s stock worth $353,000 after buying an additional 1,153 shares during the last quarter. Finally, Summit Global Investments purchased a new stake in Matador Resources in the 3rd quarter valued at $906,000. 91.98% of the stock is currently owned by institutional investors and hedge funds.

Matador Resources Price Performance

MTDR stock opened at $58.99 on Friday. The business’s fifty day moving average price is $52.36 and its 200 day moving average price is $57.03. Matador Resources has a 12-month low of $47.15 and a 12-month high of $71.08. The company has a market capitalization of $7.36 billion, a PE ratio of 7.81 and a beta of 3.26. The company has a current ratio of 0.88, a quick ratio of 0.84 and a debt-to-equity ratio of 0.71.

Matador Resources (NYSE:MTDR) last issued its quarterly earnings results on Tuesday, October 22nd. The energy company reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.78 by $0.11. Matador Resources had a net margin of 27.45% and a return on equity of 20.01%. The company had revenue of $770.20 million for the quarter, compared to analyst estimates of $836.69 million. During the same period in the prior year, the firm earned $1.86 earnings per share. The business’s revenue for the quarter was up 9.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Matador Resources will post 7.5 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 given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.70%. The ex-dividend date is Friday, November 15th. This is a boost from Matador Resources’s previous quarterly dividend of $0.20. Matador Resources’s dividend payout ratio (DPR) is currently 10.60%.

Insiders Place Their Bets

In related news, CAO Robert T. Macalik acquired 500 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was acquired at an average price of $50.25 per share, for a total transaction of $25,125.00. Following the purchase, the chief accounting officer now owns 29,800 shares of the company’s stock, valued at $1,497,450. This represents a 1.71 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Glenn W. Stetson acquired 1,000 shares of the stock in a transaction dated Wednesday, October 30th. The shares were bought at an average cost of $51.33 per share, with a total value of $51,330.00. Following the completion of the transaction, the executive vice president now 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 disclosure for this purchase can be found here. Insiders acquired a total of 11,105 shares of company stock worth $562,306 over the last 90 days. Corporate insiders own 6.10% of the company’s stock.

Wall Street Analysts Forecast Growth

MTDR has been the topic of several recent research reports. Capital One Financial raised 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. JPMorgan Chase & Co. decreased their target price on shares of Matador Resources from $77.00 to $71.00 and set an “overweight” rating on the stock in a report on Wednesday, October 30th. Wolfe Research initiated coverage on shares of Matador Resources in a report on Thursday, July 18th. They set a “peer perform” rating for the company. Royal Bank of Canada reaffirmed an “outperform” rating and set a $70.00 price target on shares of Matador Resources in a research report on Thursday, October 24th. Finally, TD Cowen increased their price objective on Matador Resources from $85.00 to $87.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Matador Resources has a consensus rating of “Moderate Buy” and a consensus 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.