Shell Asset Management Co. Sells 223 Shares of Matador Resources (NYSE:MTDR)

Shell Asset Management Co. reduced its position in shares of Matador Resources (NYSE:MTDR) by 3.3% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,565 shares of the energy company’s stock after selling 223 shares during the quarter. Shell Asset Management Co.’s holdings in Matador Resources were worth $438,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. Bessemer Group Inc. raised its position in Matador Resources by 7.1% during the 1st quarter. Bessemer Group Inc. now owns 283,272 shares of the energy company’s stock valued at $18,914,000 after purchasing an additional 18,770 shares during the last quarter. Clearbridge Investments LLC increased its position in Matador Resources by 11.8% during the 1st quarter. Clearbridge Investments LLC now owns 2,035,702 shares of the energy company’s stock valued at $135,924,000 after purchasing an additional 215,298 shares during the period. Covestor Ltd lifted its position in shares of Matador Resources by 121.4% in the 1st quarter. Covestor Ltd now owns 414 shares of the energy company’s stock worth $28,000 after purchasing an additional 227 shares during the period. Cynosure Group LLC bought a new stake in shares of Matador Resources during the 1st quarter valued at about $322,000. Finally, Vanguard Group Inc. increased its position in shares of Matador Resources by 0.9% during the first quarter. Vanguard Group Inc. now owns 11,124,705 shares of the energy company’s stock valued at $742,797,000 after buying an additional 103,713 shares during the period. Hedge funds and other institutional investors own 91.98% of the company’s stock.

Insider Buying and Selling

In other news, EVP Bryan A. Erman bought 1,750 shares of the company’s stock in a transaction on Friday, June 14th. The shares were acquired at an average cost of $55.90 per share, with a total value of $97,825.00. Following the completion of the transaction, the executive vice president now owns 1,750 shares of the company’s stock, valued at approximately $97,825. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 6.10% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have weighed in on MTDR shares. TD Cowen lifted their price objective on Matador Resources from $85.00 to $87.00 and gave the company a “buy” rating in a research report on Wednesday. Stephens dropped their price target on Matador Resources from $83.00 to $81.00 and set an “overweight” rating on the stock in a research report on Wednesday. Wells Fargo & Company increased their price objective on Matador Resources from $85.00 to $88.00 and gave the stock an “overweight” rating in a report on Wednesday, July 17th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $75.00 target price on shares of Matador Resources in a research report on Thursday. Finally, Capital One Financial raised shares of Matador Resources from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $80.00 to $84.00 in a research report on Thursday. Two research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, Matador Resources currently has an average rating of “Moderate Buy” and a consensus price target of $78.08.

Matador Resources Stock Down 0.4 %

MTDR stock opened at $61.44 on Friday. The stock has a market capitalization of $7.67 billion, a P/E ratio of 8.42 and a beta of 3.29. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.86 and a quick ratio of 0.84. Matador Resources has a 1-year low of $51.72 and a 1-year high of $71.08. The business has a fifty day moving average price of $60.27 and a 200-day moving average price of $61.29.

Matador Resources (NYSE:MTDR) last announced its quarterly earnings results on Tuesday, July 23rd. The energy company reported $2.05 EPS for the quarter, topping analysts’ consensus estimates of $1.76 by $0.29. The firm had revenue of $847.14 million during the quarter, compared to analyst estimates of $822.55 million. Matador Resources had a net margin of 29.01% and a return on equity of 21.12%. The business’s revenue for the quarter was up 32.8% on a year-over-year basis. During the same period in the previous year, the business posted $1.42 earnings per share. Equities analysts forecast that Matador Resources will post 7.74 earnings per share for the current fiscal year.

Matador Resources Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 5th. Stockholders of record on Thursday, August 15th will be paid a $0.20 dividend. The ex-dividend date is Thursday, August 15th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.30%. Matador Resources’s dividend payout ratio (DPR) is currently 10.96%.

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.