Wasatch Advisors LP Grows Stock Position in Matador Resources (NYSE:MTDR)

Wasatch Advisors LP increased its position in shares of Matador Resources (NYSE:MTDR) by 4.3% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,287,587 shares of the energy company’s stock after buying an additional 52,498 shares during the quarter. Wasatch Advisors LP owned about 1.03% of Matador Resources worth $63,633,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Denver PWM LLC purchased a new stake in shares of Matador Resources during the 2nd quarter valued at approximately $27,000. Advisors Asset Management Inc. raised its position in shares of Matador Resources by 191.8% during the 1st quarter. Advisors Asset Management Inc. now owns 709 shares of the energy company’s stock valued at $47,000 after buying an additional 466 shares during the period. Quarry LP raised its position in shares of Matador Resources by 47.5% during the 2nd quarter. Quarry LP now owns 779 shares of the energy company’s stock valued at $46,000 after buying an additional 251 shares during the period. Avior Wealth Management LLC raised its position in shares of Matador Resources by 329.0% during the 3rd quarter. Avior Wealth Management LLC now owns 828 shares of the energy company’s stock valued at $41,000 after buying an additional 635 shares during the period. Finally, Covestor Ltd increased its holdings in Matador Resources by 154.8% in the 3rd quarter. Covestor Ltd now owns 1,060 shares of the energy company’s stock valued at $52,000 after purchasing an additional 644 shares during the last quarter. Hedge funds and other institutional investors own 91.98% of the company’s stock.

Insider Activity at Matador Resources

In other Matador Resources news, EVP Bryan A. Erman bought 1,000 shares of Matador Resources stock in a transaction dated Friday, September 6th. The stock was acquired at an average cost of $50.35 per share, with a total value 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 represents a 57.14 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Brian J. Willey bought 1,500 shares of Matador Resources stock in a transaction dated 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 approximately $75,750. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders purchased a total of 11,105 shares of company stock valued at $562,306 over the last ninety days. Insiders own 6.10% of the company’s stock.

Matador Resources Stock Performance

Shares of MTDR stock opened at $60.01 on Friday. The company has a current ratio of 0.88, a quick ratio of 0.84 and a debt-to-equity ratio of 0.71. The firm has a fifty day moving average price of $54.25 and a 200 day moving average price of $56.70. The company has a market cap of $7.49 billion, a P/E ratio of 7.95 and a beta of 3.26. Matador Resources has a 12 month low of $47.15 and a 12 month high of $71.08.

Matador Resources (NYSE:MTDR) last issued its 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. Matador Resources had a net margin of 27.45% and a return on equity of 20.01%. The firm had revenue of $770.20 million during the quarter, compared to the consensus estimate of $836.69 million. During the same quarter in the previous year, the firm posted $1.86 earnings per share. The company’s revenue was up 9.8% compared to the same quarter last year. Sell-side analysts predict that Matador Resources will post 7.5 earnings per share for the current fiscal year.

Matador Resources Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 15th will be given a $0.25 dividend. The ex-dividend date is Friday, November 15th. This is a boost from Matador Resources’s previous quarterly dividend of $0.20. This represents a $1.00 dividend on an annualized basis and a yield of 1.67%. Matador Resources’s payout ratio is 13.25%.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Wells Fargo & Company dropped their target price on shares of Matador Resources from $89.00 to $87.00 and set an “overweight” rating for the company in a report on Tuesday, October 1st. KeyCorp dropped their target price on shares of Matador Resources from $76.00 to $72.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th. Stephens lifted their target price on shares of Matador Resources from $76.00 to $78.00 and gave the company an “overweight” rating in a report on Monday, October 21st. BMO Capital Markets lifted their target price on shares of Matador Resources from $75.00 to $78.00 and gave the company an “outperform” rating in a report on Friday, October 4th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $70.00 target price on shares of Matador Resources in a report on Thursday, October 24th. Two investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, Matador Resources has an average rating of “Moderate Buy” and an average price target of $74.92.

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.