Retirement Systems of Alabama Decreases Stake in Matador Resources (NYSE:MTDR)

Retirement Systems of Alabama lessened its position in shares of Matador Resources (NYSE:MTDR) by 1.6% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 141,007 shares of the energy company’s stock after selling 2,222 shares during the quarter. Retirement Systems of Alabama’s holdings in Matador Resources were worth $6,969,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Boston Trust Walden Corp bought a new stake in Matador Resources in the third quarter worth $51,788,000. Yaupon Capital Management LP raised its position in shares of Matador Resources by 565.4% during the 3rd quarter. Yaupon Capital Management LP now owns 744,037 shares of the energy company’s stock valued at $36,770,000 after buying an additional 632,218 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Matador Resources by 8.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,734,819 shares of the energy company’s stock valued at $282,196,000 after acquiring an additional 356,506 shares during the last quarter. Los Angeles Capital Management LLC purchased a new position in Matador Resources in the second quarter worth about $18,747,000. Finally, FMR LLC increased its stake in Matador Resources by 162.9% during the third quarter. FMR LLC now owns 478,795 shares of the energy company’s stock worth $23,662,000 after acquiring an additional 296,663 shares during the last quarter. Institutional investors own 91.98% of the company’s stock.

Matador Resources Price Performance

Shares of MTDR stock opened at $55.69 on Wednesday. The company 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 debt-to-equity ratio of 0.71, a current ratio of 0.88 and a quick ratio of 0.84. The stock’s 50-day moving average is $55.53 and its 200 day moving average is $56.27. Matador Resources has a 1-year low of $47.15 and a 1-year high of $71.08.

Matador Resources (NYSE:MTDR) last announced its earnings results on Tuesday, October 22nd. The energy company reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.78 by $0.11. The company had revenue of $770.20 million during the quarter, compared to the consensus estimate of $836.69 million. Matador Resources had a net margin of 27.45% and a return on equity of 20.01%. Matador Resources’s revenue was up 9.8% compared to the same quarter last year. During the same period last year, the firm earned $1.86 earnings per share. Research analysts predict that Matador Resources will post 7.49 earnings per share for the current fiscal year.

Matador Resources Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Friday, November 15th were paid a $0.25 dividend. The ex-dividend date of this dividend was 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 1.80%. Matador Resources’s dividend payout ratio (DPR) is 13.25%.

Insiders Place Their Bets

In other news, EVP Glenn W. Stetson purchased 1,000 shares of the stock in a transaction on Wednesday, October 30th. The stock was bought at an average price of $51.33 per share, with a total value of $51,330.00. Following the transaction, the executive vice president now owns 85,935 shares in the company, valued at $4,411,043.55. The trade was a 1.18 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Joseph Wm Foran acquired 2,000 shares of Matador Resources stock in a transaction dated Friday, December 6th. The stock was purchased at an average price of $55.18 per share, with a total value of $110,360.00. Following the completion of the purchase, the chief executive officer now owns 42,251 shares of the company’s stock, valued at approximately $2,331,410.18. The trade was a 4.97 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 4,285 shares of company stock valued at $232,849. 6.10% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on MTDR shares. Truist Financial cut their target price on Matador Resources from $86.00 to $75.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. Royal Bank of Canada restated an “outperform” rating and issued a $70.00 target price on shares of Matador Resources in a report on Friday, December 6th. Benchmark reiterated a “buy” rating and set a $62.00 price target on shares of Matador Resources in a report on Wednesday, October 23rd. Mizuho dropped their target price on Matador Resources from $74.00 to $73.00 and set an “outperform” rating for the company in a research report on Monday. Finally, BMO Capital Markets increased their price target on Matador Resources from $75.00 to $78.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus 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.