Castleark Management LLC Reduces Stock Position in Matador Resources Company $MTDR

Castleark Management LLC lessened its holdings in Matador Resources Company (NYSE:MTDR) by 69.5% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 8,350 shares of the energy company’s stock after selling 19,000 shares during the quarter. Castleark Management LLC’s holdings in Matador Resources were worth $398,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Matador Resources by 298.5% during the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 534 shares of the energy company’s stock valued at $25,000 after purchasing an additional 400 shares during the period. MassMutual Private Wealth & Trust FSB boosted its position in Matador Resources by 93.0% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 554 shares of the energy company’s stock valued at $26,000 after buying an additional 267 shares during the period. Allworth Financial LP grew its stake in Matador Resources by 182.0% in the 2nd quarter. Allworth Financial LP now owns 564 shares of the energy company’s stock worth $27,000 after acquiring an additional 364 shares in the last quarter. Ameritas Advisory Services LLC bought a new position in Matador Resources in the 2nd quarter worth about $29,000. Finally, Quarry LP increased its position in shares of Matador Resources by 70.8% during the first quarter. Quarry LP now owns 859 shares of the energy company’s stock worth $44,000 after acquiring an additional 356 shares during the period. 91.98% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Matador Resources news, EVP Robert T. Macalik bought 1,500 shares of the company’s stock in a transaction that occurred on Thursday, November 6th. The shares were purchased at an average cost of $38.25 per share, for a total transaction of $57,375.00. Following the purchase, the executive vice president directly owned 35,039 shares in the company, valued at $1,340,241.75. This represents a 4.47% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Christopher P. Calvert bought 2,500 shares of Matador Resources stock in a transaction that occurred on Monday, November 3rd. The shares were acquired at an average cost of $39.44 per share, for a total transaction of $98,600.00. Following the completion of the transaction, the chief operating officer directly owned 40,000 shares in the company, valued at $1,577,600. This represents a 6.67% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders bought 37,346 shares of company stock valued at $1,463,396. 5.80% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Mizuho increased their price objective on Matador Resources from $67.00 to $70.00 and gave the stock an “outperform” rating in a research note on Friday. Royal Bank Of Canada increased their price target on Matador Resources from $60.00 to $62.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 8th. Morgan Stanley cut their price target on Matador Resources from $62.00 to $61.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 14th. William Blair assumed coverage on shares of Matador Resources in a research note on Monday, August 25th. They issued an “outperform” rating for the company. Finally, KeyCorp cut their target price on shares of Matador Resources from $61.00 to $52.00 and set an “overweight” rating on the stock in a research report on Friday, October 24th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $63.33.

Matador Resources Price Performance

Shares of MTDR stock opened at $44.32 on Monday. The stock’s 50-day moving average is $41.85 and its 200 day moving average is $46.15. Matador Resources Company has a 1-year low of $35.19 and a 1-year high of $64.04. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.73 and a quick ratio of 0.69. The company has a market cap of $5.51 billion, a P/E ratio of 7.08 and a beta of 1.11.

Matador Resources (NYSE:MTDR) last released its quarterly earnings results on Tuesday, October 21st. The energy company reported $1.36 EPS for the quarter, beating the consensus estimate of $1.22 by $0.14. Matador Resources had a net margin of 20.46% and a return on equity of 14.80%. The business had revenue of $939.02 million during the quarter, compared to analyst estimates of $893.22 million. During the same period in the prior year, the firm posted $1.89 earnings per share. The company’s quarterly revenue was up 4.4% on a year-over-year basis. Research analysts predict that Matador Resources Company will post 8.53 earnings per share for the current fiscal year.

Matador Resources Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 5th. Shareholders of record on Monday, November 10th were paid a $0.375 dividend. This represents a $1.50 annualized dividend and a yield of 3.4%. This is a positive change from Matador Resources’s previous quarterly dividend of $0.31. The ex-dividend date was Monday, November 10th. Matador Resources’s payout ratio is 23.96%.

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.