Pictet Asset Management SA Grows Stock Position in Matador Resources (NYSE:MTDR)

Pictet Asset Management SA raised its stake in shares of Matador Resources (NYSE:MTDRGet Rating) by 5.8% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 7,372 shares of the energy company’s stock after buying an additional 405 shares during the period. Pictet Asset Management SA’s holdings in Matador Resources were worth $343,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. CIBC Private Wealth Group LLC raised its stake in shares of Matador Resources by 0.4% during the 2nd quarter. CIBC Private Wealth Group LLC now owns 52,624 shares of the energy company’s stock valued at $2,452,000 after buying an additional 186 shares during the last quarter. Arizona State Retirement System increased its stake in shares of Matador Resources by 0.7% in the 1st quarter. Arizona State Retirement System now owns 31,718 shares of the energy company’s stock valued at $1,680,000 after purchasing an additional 232 shares in the last quarter. US Bancorp DE increased its stake in shares of Matador Resources by 2.1% in the 1st quarter. US Bancorp DE now owns 11,991 shares of the energy company’s stock valued at $635,000 after purchasing an additional 246 shares in the last quarter. Evergreen Capital Management LLC increased its stake in shares of Matador Resources by 3.5% in the 1st quarter. Evergreen Capital Management LLC now owns 8,189 shares of the energy company’s stock valued at $434,000 after purchasing an additional 276 shares in the last quarter. Finally, Crossmark Global Holdings Inc. increased its stake in shares of Matador Resources by 3.3% in the 2nd quarter. Crossmark Global Holdings Inc. now owns 8,960 shares of the energy company’s stock valued at $417,000 after purchasing an additional 290 shares in the last quarter. Hedge funds and other institutional investors own 88.32% of the company’s stock.

Wall Street Analysts Forecast Growth

MTDR has been the subject of several recent analyst reports. Raymond James lifted their price target on Matador Resources from $60.00 to $78.00 and gave the company an “outperform” rating in a research note on Monday, October 24th. JPMorgan Chase & Co. lowered their price objective on Matador Resources from $71.00 to $67.00 and set an “overweight” rating on the stock in a report on Friday, October 14th. MKM Partners reiterated a “buy” rating and issued a $68.00 price objective on shares of Matador Resources in a report on Wednesday, September 21st. StockNews.com initiated coverage on Matador Resources in a report on Wednesday, October 12th. They issued a “hold” rating on the stock. Finally, KeyCorp lifted their price objective on Matador Resources from $72.00 to $79.00 and gave the stock an “overweight” rating in a report on Thursday, October 27th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Matador Resources has a consensus rating of “Moderate Buy” and an average target price of $69.75.

Matador Resources Trading Down 3.2 %

Shares of Matador Resources stock opened at $66.74 on Thursday. The stock has a market cap of $7.89 billion, a P/E ratio of 6.80 and a beta of 3.58. The stock’s 50 day simple moving average is $62.40 and its 200-day simple moving average is $57.29. Matador Resources has a 1-year low of $33.49 and a 1-year high of $73.78. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.48 and a quick ratio of 1.46.

Matador Resources (NYSE:MTDRGet Rating) last issued its earnings results on Tuesday, October 25th. The energy company reported $2.68 earnings per share for the quarter, topping the consensus estimate of $2.63 by $0.05. The business had revenue of $751.40 million for the quarter, compared to analysts’ expectations of $740.23 million. Matador Resources had a return on equity of 45.40% and a net margin of 40.29%. The business’s revenue for the quarter was up 62.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.25 EPS. Analysts predict that Matador Resources will post 10.79 EPS for the current fiscal year.

Matador Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Thursday, November 10th will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.60%. The ex-dividend date is Wednesday, November 9th. Matador Resources’s dividend payout ratio is presently 4.07%.

About Matador Resources

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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.

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Institutional Ownership by Quarter for Matador Resources (NYSE:MTDR)

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