Matador Resources Company $MTDR Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC trimmed its holdings in Matador Resources Company (NYSE:MTDR) by 33.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 124,770 shares of the energy company’s stock after selling 62,483 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.10% of Matador Resources worth $5,635,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MTDR. LSV Asset Management lifted its holdings in shares of Matador Resources by 45.7% in the 2nd quarter. LSV Asset Management now owns 3,334,775 shares of the energy company’s stock valued at $159,135,000 after buying an additional 1,045,396 shares during the period. Adage Capital Partners GP L.L.C. raised its position in Matador Resources by 143.1% during the second quarter. Adage Capital Partners GP L.L.C. now owns 2,556,472 shares of the energy company’s stock valued at $121,995,000 after acquiring an additional 1,505,000 shares in the last quarter. AQR Capital Management LLC lifted its holdings in Matador Resources by 30.6% in the second quarter. AQR Capital Management LLC now owns 1,302,587 shares of the energy company’s stock valued at $62,159,000 after acquiring an additional 305,352 shares during the period. Copeland Capital Management LLC lifted its holdings in Matador Resources by 1.6% in the second quarter. Copeland Capital Management LLC now owns 1,274,492 shares of the energy company’s stock valued at $60,819,000 after acquiring an additional 20,504 shares during the period. Finally, Boston Trust Walden Corp boosted its position in Matador Resources by 6.1% in the 2nd quarter. Boston Trust Walden Corp now owns 1,140,901 shares of the energy company’s stock worth $54,444,000 after purchasing an additional 65,290 shares in the last quarter. 91.98% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on MTDR shares. UBS Group upped their target price on Matador Resources from $46.00 to $50.00 and gave the stock a “neutral” rating in a research note on Friday, December 12th. Wells Fargo & Company reduced their price objective on shares of Matador Resources from $71.00 to $61.00 and set an “overweight” rating for the company in a research report on Friday, October 24th. Bank of America decreased their price objective on shares of Matador Resources from $55.00 to $50.00 and set a “buy” rating on the stock in a report on Monday, November 3rd. Weiss Ratings reissued a “hold (c-)” rating on shares of Matador Resources in a research note on Tuesday, October 14th. Finally, Mizuho upped their price target on shares of Matador Resources from $67.00 to $70.00 and gave the stock an “outperform” rating in a research report on Friday, December 12th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, Matador Resources presently has a consensus rating of “Moderate Buy” and an average price target of $61.77.

Matador Resources Price Performance

Shares of NYSE MTDR opened at $41.19 on Wednesday. The firm has a 50-day simple moving average of $41.67 and a 200-day simple moving average of $45.45. The company has a quick ratio of 0.69, a current ratio of 0.73 and a debt-to-equity ratio of 0.55. The stock has a market capitalization of $5.12 billion, a price-to-earnings ratio of 6.58 and a beta of 1.09. Matador Resources Company has a 52 week low of $35.19 and a 52 week high of $64.04.

Matador Resources (NYSE:MTDR) last issued its earnings results on Tuesday, October 21st. The energy company reported $1.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.22 by $0.14. Matador Resources had a return on equity of 14.80% and a net margin of 20.46%.The business had revenue of $939.02 million during the quarter, compared to the consensus estimate of $893.22 million. During the same period last year, the company earned $1.89 EPS. The company’s revenue for the quarter was up 4.4% on a year-over-year basis. On average, equities 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 disclosed a quarterly dividend, which was paid on Friday, December 5th. Investors of record on Monday, November 10th were given a dividend of $0.375 per share. The ex-dividend date was Monday, November 10th. This is an increase from Matador Resources’s previous quarterly dividend of $0.31. This represents a $1.50 annualized dividend and a yield of 3.6%. Matador Resources’s dividend payout ratio (DPR) is 23.96%.

Insider Activity at Matador Resources

In other Matador Resources news, Director Shelley F. Appel acquired 1,784 shares of the stock in a transaction that occurred on Thursday, October 30th. The stock was bought at an average cost of $39.85 per share, for a total transaction of $71,092.40. Following the completion of the transaction, the director owned 1,784 shares of the company’s stock, valued at approximately $71,092.40. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Susan M. Ward bought 5,000 shares of the business’s stock in a transaction on Monday, November 3rd. The stock was purchased at an average cost of $39.04 per share, for a total transaction of $195,200.00. Following the transaction, the director owned 14,923 shares of the company’s stock, valued at $582,593.92. This trade represents a 50.39% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders bought 37,346 shares of company stock valued at $1,463,396 over the last ninety days. Corporate insiders own 5.80% of the company’s stock.

Matador Resources Profile

Matador Resources Company is an independent energy firm primarily engaged in the exploration, development and production of oil, natural gas liquids (NGLs) and natural gas. The company focuses on upstream operations, utilizing horizontal drilling and hydraulic fracturing techniques to unlock hydrocarbons from key reservoirs. Its asset base includes both operated and non‐operated positions, with a particular emphasis on the Permian Basin, one of the most prolific oil-producing regions in North America.

Matador’s core operations are concentrated in the Delaware Basin segment of the Permian Basin, where it holds substantial acreage in both Reeves and Culberson counties in West Texas and Eddy and Lea counties in New Mexico.