Matador Resources (NYSE:MTDR) Shares Purchased by Geode Capital Management LLC

Geode Capital Management LLC raised its stake in Matador Resources (NYSE:MTDR) by 1.9% in the third quarter, HoldingsChannel reports. The fund owned 2,008,730 shares of the energy company’s stock after purchasing an additional 36,921 shares during the period. Geode Capital Management LLC’s holdings in Matador Resources were worth $99,297,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently bought and sold shares of MTDR. M&T Bank Corp grew its stake in shares of Matador Resources by 46.3% during the 3rd quarter. M&T Bank Corp now owns 10,426 shares of the energy company’s stock worth $515,000 after purchasing an additional 3,299 shares during the period. Barclays PLC boosted its holdings in Matador Resources by 16.1% during the third quarter. Barclays PLC now owns 190,035 shares of the energy company’s stock worth $9,391,000 after buying an additional 26,289 shares in the last quarter. Y Intercept Hong Kong Ltd grew its position in Matador Resources by 47.2% during the third quarter. Y Intercept Hong Kong Ltd now owns 62,606 shares of the energy company’s stock valued at $3,094,000 after buying an additional 20,064 shares during the period. Hodges Capital Management Inc. increased its holdings in Matador Resources by 0.6% in the third quarter. Hodges Capital Management Inc. now owns 884,762 shares of the energy company’s stock valued at $43,725,000 after buying an additional 5,510 shares in the last quarter. Finally, Yaupon Capital Management LP increased its holdings in Matador Resources by 565.4% in the third quarter. Yaupon Capital Management LP now owns 744,037 shares of the energy company’s stock valued at $36,770,000 after buying an additional 632,218 shares in the last quarter. 91.98% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on MTDR. Truist Financial dropped their target price on Matador Resources from $86.00 to $75.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. BMO Capital Markets raised their price objective on Matador Resources from $75.00 to $78.00 and gave the company an “outperform” rating in a report on Friday, October 4th. Mizuho reduced their target price on Matador Resources from $74.00 to $73.00 and set an “outperform” rating for the company in a research note on Monday. Benchmark reiterated a “buy” rating and set a $62.00 target price on shares of Matador Resources in a research report on Wednesday, October 23rd. Finally, Wells Fargo & Company boosted their price target on shares of Matador Resources from $87.00 to $91.00 and gave the stock an “overweight” rating in a report on Tuesday. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, Matador Resources currently has a consensus rating of “Moderate Buy” and an average price target of $75.31.

Matador Resources Stock Performance

NYSE:MTDR opened at $53.42 on Thursday. The company has a market cap of $6.67 billion, a P/E ratio of 7.08 and a beta of 3.26. Matador Resources has a twelve month low of $47.15 and a twelve month high of $71.08. The company’s 50-day moving average price is $55.59 and its 200-day moving average price is $56.19. 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 released its earnings results on Tuesday, October 22nd. The energy company reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.78 by $0.11. The business had revenue of $770.20 million for the quarter, compared to analyst estimates of $836.69 million. Matador Resources had a net margin of 27.45% and a return on equity of 20.01%. The business’s revenue was up 9.8% on a year-over-year basis. During the same period last year, the company posted $1.86 EPS. On average, sell-side analysts forecast that Matador Resources will post 7.49 earnings per share for the current fiscal year.

Matador Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Friday, November 15th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, November 15th. This represents a $1.00 dividend on an annualized basis and a yield of 1.87%. This is a positive change from Matador Resources’s previous quarterly dividend of $0.20. Matador Resources’s payout ratio is 13.25%.

Insider Buying and Selling at Matador Resources

In other news, EVP Glenn W. Stetson purchased 1,000 shares of the company’s stock in a transaction dated Wednesday, October 30th. The stock was acquired at an average price of $51.33 per share, with a total value of $51,330.00. Following the purchase, the executive vice president now directly owns 85,935 shares in the company, valued at approximately $4,411,043.55. This represents a 1.18 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Joseph Wm Foran purchased 2,000 shares of Matador Resources stock in a transaction dated Friday, December 6th. The shares were purchased at an average cost of $55.18 per share, for a total transaction of $110,360.00. Following the transaction, the chief executive officer now owns 42,251 shares in the company, valued at approximately $2,331,410.18. This trade represents a 4.97 % increase in their position. The disclosure for this purchase can be found here. Insiders purchased a total of 4,285 shares of company stock worth $232,849 in the last three months. 6.10% of the stock is owned by corporate 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.