Fmr LLC Grows Stock Position in Matador Resources (NYSE:MTDR)

Fmr LLC increased its position in shares of Matador Resources (NYSE:MTDR) by 162.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 478,795 shares of the energy company’s stock after purchasing an additional 296,663 shares during the period. Fmr LLC owned 0.38% of Matador Resources worth $23,662,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Denver PWM LLC purchased a new position in shares of Matador Resources during the second quarter worth about $27,000. Quarry LP grew its stake in Matador Resources by 47.5% during the 2nd quarter. Quarry LP now owns 779 shares of the energy company’s stock worth $46,000 after buying an additional 251 shares during the last quarter. Avior Wealth Management LLC increased its position in Matador Resources by 329.0% during the third quarter. Avior Wealth Management LLC now owns 828 shares of the energy company’s stock worth $41,000 after buying an additional 635 shares during the period. Covestor Ltd lifted its stake in Matador Resources by 154.8% in the third quarter. Covestor Ltd now owns 1,060 shares of the energy company’s stock valued at $52,000 after buying an additional 644 shares during the last quarter. Finally, GAMMA Investing LLC boosted its holdings in shares of Matador Resources by 28.7% in the third quarter. GAMMA Investing LLC now owns 1,403 shares of the energy company’s stock valued at $69,000 after acquiring an additional 313 shares during the period. Institutional investors and hedge funds own 91.98% of the company’s stock.

Matador Resources Price Performance

Shares of NYSE:MTDR opened at $56.42 on Tuesday. The firm has a market capitalization of $7.04 billion, a price-to-earnings ratio of 7.47 and a beta of 3.26. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.88 and a quick ratio of 0.84. The business’s 50 day simple moving average is $55.15 and its 200-day simple moving average is $56.44. Matador Resources has a 12 month low of $47.15 and a 12 month high of $71.08.

Matador Resources (NYSE:MTDR) last posted its earnings results on Tuesday, October 22nd. The energy company reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.78 by $0.11. Matador Resources had a return on equity of 20.01% and a net margin of 27.45%. The company had revenue of $770.20 million for the quarter, compared to analyst estimates of $836.69 million. Matador Resources’s revenue was up 9.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.86 earnings per share. As a group, equities analysts forecast that Matador Resources will post 7.5 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. Investors 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 dividend yield of 1.77%. This is a positive change from Matador Resources’s previous quarterly dividend of $0.20. Matador Resources’s dividend payout ratio (DPR) is presently 13.25%.

Insider Buying and Selling at Matador Resources

In other news, EVP Glenn W. Stetson bought 1,000 shares of Matador Resources stock in a transaction that occurred on Wednesday, October 30th. The shares were purchased at an average price of $51.33 per share, for a total transaction of $51,330.00. Following the completion of the acquisition, the executive vice president now owns 85,935 shares of the company’s stock, valued at $4,411,043.55. The trade was a 1.18 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert Gaines Baty bought 500 shares of the firm’s stock in a transaction dated Friday, September 13th. The shares were purchased at an average price of $50.58 per share, with a total value of $25,290.00. Following the acquisition, the director now directly owns 67,617 shares in the company, valued at approximately $3,420,067.86. This trade represents a 0.74 % increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 1,805 shares of company stock worth $92,151. Corporate insiders own 6.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Royal Bank of Canada reiterated an “outperform” rating and set a $70.00 price target on shares of Matador Resources in a research note on Friday. KeyCorp decreased their target price on shares of Matador Resources from $76.00 to $72.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. JPMorgan Chase & Co. dropped their price target on Matador Resources from $77.00 to $71.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 30th. BMO Capital Markets increased their price objective on Matador Resources from $75.00 to $78.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. Finally, 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 report on Monday, September 30th. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $75.08.

Matador Resources 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.