Wasatch Advisors LP Boosts Stock Holdings in Matador Resources (NYSE:MTDR)

Wasatch Advisors LP increased its position in shares of Matador Resources (NYSE:MTDR) by 4.3% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,287,587 shares of the energy company’s stock after purchasing an additional 52,498 shares during the period. Wasatch Advisors LP’s holdings in Matador Resources were worth $63,633,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. DekaBank Deutsche Girozentrale raised its holdings in Matador Resources by 304.1% during the first 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 in the last quarter. Loomis Sayles & Co. L P grew its position in Matador Resources by 16.8% during the third quarter. Loomis Sayles & Co. L P now owns 455,662 shares of the energy company’s stock worth $22,519,000 after buying an additional 65,487 shares during the period. Amalgamated Bank grew its position in Matador Resources by 25.5% during the second quarter. Amalgamated Bank now owns 73,025 shares of the energy company’s stock worth $4,352,000 after buying an additional 14,850 shares during the period. American Century Companies Inc. grew its position in Matador Resources by 2.9% during the second quarter. American Century Companies Inc. now owns 561,671 shares of the energy company’s stock worth $33,476,000 after buying an additional 15,835 shares during the period. Finally, Hsbc Holdings PLC grew its position in Matador Resources by 686.2% during the second quarter. Hsbc Holdings PLC now owns 73,978 shares of the energy company’s stock worth $4,432,000 after buying an additional 64,568 shares during the period. 91.98% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Robert Gaines Baty purchased 500 shares of the business’s stock in a transaction on Friday, September 13th. The shares were bought at an average price of $50.58 per share, with a total value of $25,290.00. Following the completion of the purchase, the director now directly owns 67,617 shares in the company, valued at approximately $3,420,067.86. This trade represents a 0.74 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Glenn W. Stetson purchased 1,000 shares of the business’s stock in a transaction on Wednesday, October 30th. The shares were bought at an average cost of $51.33 per share, for a total transaction of $51,330.00. Following the purchase, the executive vice president now owns 85,935 shares of the company’s stock, valued at $4,411,043.55. This trade represents a 1.18 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased a total of 11,105 shares of company stock valued at $562,306 over the last quarter. Company insiders own 6.10% of the company’s stock.

Matador Resources Stock Performance

Shares of MTDR opened at $60.01 on Friday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.84 and a current ratio of 0.88. The company has a market capitalization of $7.49 billion, a price-to-earnings ratio of 7.95 and a beta of 3.26. The company’s 50 day simple moving average is $54.25 and its 200 day simple moving average is $56.70. 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 quarterly earnings data on Tuesday, October 22nd. The energy company reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.78 by $0.11. The business had revenue of $770.20 million for 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%. The company’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.86 earnings per share. On average, sell-side analysts predict that Matador Resources will post 7.5 EPS for the current year.

Matador Resources Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 15th will be paid 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 yield of 1.67%. This is an increase from Matador Resources’s previous quarterly dividend of $0.20. Matador Resources’s dividend payout ratio (DPR) is currently 13.25%.

Analysts Set New Price Targets

Several brokerages have weighed in on MTDR. Truist Financial lowered their target price on shares of 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 set a $70.00 target price on shares of Matador Resources in a research report on Thursday, October 24th. BMO Capital Markets upped their target price on shares of Matador Resources from $75.00 to $78.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. Stephens upped their target price on shares of Matador Resources from $76.00 to $78.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. Finally, Mizuho lowered their price target on shares of Matador Resources from $85.00 to $74.00 and set an “outperform” rating on the stock in a research report on Monday, September 16th. Two investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $74.92.

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.