Millrace Asset Group Inc. Takes Position in Matador Resources (NYSE:MTDR)

Millrace Asset Group Inc. purchased a new position in Matador Resources (NYSE:MTDR) during the third quarter, Holdings Channel.com reports. The firm purchased 17,416 shares of the energy company’s stock, valued at approximately $861,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD boosted its position in shares of Matador Resources by 5.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,104,791 shares of the energy company’s stock worth $73,768,000 after buying an additional 53,322 shares during the period. DekaBank Deutsche Girozentrale increased its position in Matador Resources by 304.1% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 13,288 shares of the energy company’s stock worth $863,000 after purchasing an additional 10,000 shares during the last quarter. Amalgamated Bank raised its stake in shares of Matador Resources by 25.5% during the 2nd quarter. Amalgamated Bank now owns 73,025 shares of the energy company’s stock worth $4,352,000 after purchasing an additional 14,850 shares in the last quarter. American Century Companies Inc. raised its stake in shares of Matador Resources by 2.9% during the 2nd quarter. American Century Companies Inc. now owns 561,671 shares of the energy company’s stock worth $33,476,000 after purchasing an additional 15,835 shares in the last quarter. Finally, Hsbc Holdings PLC lifted its holdings in shares of Matador Resources by 686.2% during the 2nd quarter. Hsbc Holdings PLC now owns 73,978 shares of the energy company’s stock valued at $4,432,000 after buying an additional 64,568 shares during the last quarter. Institutional investors and hedge funds own 91.98% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on MTDR shares. KeyCorp lowered their target price on shares of Matador Resources from $76.00 to $72.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 16th. Benchmark reissued a “buy” rating and set a $62.00 price objective on shares of Matador Resources in a report on Wednesday, October 23rd. Wells Fargo & Company reduced their target price on Matador Resources from $89.00 to $87.00 and set an “overweight” rating for the company in a report on Tuesday, October 1st. JPMorgan Chase & Co. lowered their price target on Matador Resources from $77.00 to $71.00 and set an “overweight” rating on the stock in a report on Wednesday, October 30th. Finally, BMO Capital Markets boosted their price objective on shares of Matador Resources from $75.00 to $78.00 and gave the stock an “outperform” rating in a research note on Friday, October 4th. Two investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $74.92.

Insider Activity at Matador Resources

In other Matador Resources news, EVP Bryan A. Erman bought 1,000 shares of the firm’s stock in a transaction dated Friday, September 6th. The shares were bought at an average price of $50.35 per share, for a total transaction of $50,350.00. Following the completion of the acquisition, the executive vice president now owns 2,750 shares of the company’s stock, valued at approximately $138,462.50. This trade represents a 57.14 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Brian J. Willey purchased 1,500 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The stock was acquired at an average cost of $50.50 per share, with a total value of $75,750.00. Following the completion of the acquisition, the chief financial officer now directly owns 1,500 shares of the company’s stock, valued at $75,750. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought 11,105 shares of company stock valued at $562,306 in the last ninety days. Insiders own 6.10% of the company’s stock.

Matador Resources Trading Down 2.8 %

Shares of MTDR stock opened at $59.19 on Tuesday. The firm has a fifty day moving average of $53.66 and a 200-day moving average of $56.71. The stock has a market cap of $7.39 billion, a price-to-earnings ratio of 7.84 and a beta of 3.26. Matador Resources has a 52-week low of $47.15 and a 52-week high of $71.08. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.84 and a current ratio of 0.88.

Matador Resources (NYSE:MTDR) last announced its quarterly earnings results on Tuesday, October 22nd. The energy company reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.78 by $0.11. The firm had revenue of $770.20 million during the quarter, compared to analysts’ expectations of $836.69 million. Matador Resources had a net margin of 27.45% and a return on equity of 20.01%. The company’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same quarter last year, the company earned $1.86 earnings per share. On average, equities research analysts forecast that Matador Resources will post 7.5 earnings per share for the current fiscal year.

Matador Resources Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 15th will be given a dividend of $0.25 per share. The ex-dividend date is Friday, November 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.69%. This is a boost from Matador Resources’s previous quarterly dividend of $0.20. Matador Resources’s dividend payout ratio (DPR) is 13.25%.

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.