Retirement Systems of Alabama Sells 2,222 Shares of Matador Resources (NYSE:MTDR)

Retirement Systems of Alabama lowered its position in Matador Resources (NYSE:MTDR) by 1.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 141,007 shares of the energy company’s stock after selling 2,222 shares during the quarter. Retirement Systems of Alabama owned about 0.11% of Matador Resources worth $6,969,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in MTDR. Boston Trust Walden Corp purchased a new position in Matador Resources during the third quarter worth about $51,788,000. Yaupon Capital Management LP grew its holdings in shares of Matador Resources by 565.4% during the third quarter. Yaupon Capital Management LP now owns 744,037 shares of the energy company’s stock worth $36,770,000 after purchasing an additional 632,218 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Matador Resources by 8.1% in the second quarter. Dimensional Fund Advisors LP now owns 4,734,819 shares of the energy company’s stock worth $282,196,000 after purchasing an additional 356,506 shares during the last quarter. Los Angeles Capital Management LLC bought a new position in shares of Matador Resources in the second quarter worth approximately $18,747,000. Finally, FMR LLC raised its stake in Matador Resources by 162.9% in the third quarter. FMR LLC now owns 478,795 shares of the energy company’s stock valued at $23,662,000 after purchasing an additional 296,663 shares in the last quarter. Hedge funds and other institutional investors own 91.98% of the company’s stock.

Matador Resources Price Performance

Shares of NYSE MTDR opened at $55.69 on Wednesday. The firm has a market cap of $6.95 billion, a P/E ratio of 7.38 and a beta of 3.26. The company has a 50 day moving average of $55.53 and a 200 day moving average of $56.27. Matador Resources has a twelve month low of $47.15 and a twelve month high of $71.08. The company has a quick ratio of 0.84, a current ratio of 0.88 and a debt-to-equity ratio of 0.71.

Matador Resources (NYSE:MTDR) last issued its earnings results on Tuesday, October 22nd. The energy company reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.78 by $0.11. The company had revenue of $770.20 million for 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 firm’s quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter last year, the company posted $1.86 earnings per share. As a group, research analysts expect that Matador Resources will post 7.49 EPS for the current fiscal year.

Matador Resources Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Friday, November 15th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, November 15th. This represents a $1.00 annualized dividend and a dividend yield of 1.80%. This is a positive change from Matador Resources’s previous quarterly dividend of $0.20. Matador Resources’s dividend payout ratio is presently 13.25%.

Insider Transactions at Matador Resources

In related news, CEO Joseph Wm Foran purchased 2,000 shares of Matador Resources stock in a transaction on Friday, December 6th. The stock was acquired at an average price of $55.18 per share, for a total transaction of $110,360.00. Following the completion of the transaction, the chief executive officer now directly owns 42,251 shares in the company, valued at $2,331,410.18. This represents a 4.97 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP William Thomas Elsener purchased 800 shares of the stock in a transaction on Friday, December 13th. The shares were purchased at an average cost of $56.60 per share, for a total transaction of $45,280.00. Following the acquisition, the executive vice president now directly owns 102,964 shares of the company’s stock, valued at approximately $5,827,762.40. This represents a 0.78 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired 4,285 shares of company stock worth $232,849 in the last quarter. Company insiders own 6.10% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on MTDR shares. Stephens increased their price target on shares of Matador Resources from $78.00 to $80.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. Royal Bank of Canada reissued an “outperform” rating and issued a $70.00 target price on shares of Matador Resources in a research note on Friday, December 6th. Benchmark reaffirmed a “buy” rating and set a $62.00 price target on shares of Matador Resources in a research note on Wednesday, October 23rd. Mizuho reduced their price target on shares of Matador Resources from $74.00 to $73.00 and set an “outperform” rating on the stock in a research report on Monday. Finally, KeyCorp lowered their price target 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. Two investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $75.31.

Matador Resources Company 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.