Covestor Ltd Has $52,000 Holdings in Matador Resources (NYSE:MTDR)

Covestor Ltd increased its position in Matador Resources (NYSE:MTDR) by 154.8% in the third quarter, HoldingsChannel reports. The firm owned 1,060 shares of the energy company’s stock after acquiring an additional 644 shares during the period. Covestor Ltd’s holdings in Matador Resources were worth $52,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MTDR. Verdence Capital Advisors LLC grew its stake in Matador Resources by 19.2% during the 3rd quarter. Verdence Capital Advisors LLC now owns 7,149 shares of the energy company’s stock valued at $353,000 after acquiring an additional 1,153 shares in the last quarter. Summit Global Investments purchased a new position in Matador Resources during the third quarter valued at approximately $906,000. QRG Capital Management Inc. increased its stake in Matador Resources by 13.2% in the 3rd quarter. QRG Capital Management Inc. now owns 5,133 shares of the energy company’s stock valued at $254,000 after buying an additional 598 shares during the period. Harbor Capital Advisors Inc. lifted its position in Matador Resources by 113.5% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 27,649 shares of the energy company’s stock worth $1,366,000 after buying an additional 14,696 shares in the last quarter. Finally, Ceredex Value Advisors LLC boosted its stake in shares of Matador Resources by 19.3% during the 3rd quarter. Ceredex Value Advisors LLC now owns 324,301 shares of the energy company’s stock valued at $16,027,000 after buying an additional 52,450 shares during the period. 91.98% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CAO Robert T. Macalik bought 500 shares of Matador Resources stock in a transaction that occurred on Friday, September 6th. The stock was purchased at an average cost of $50.25 per share, with a total value of $25,125.00. Following the completion of the transaction, the chief accounting officer now directly owns 29,800 shares in the company, valued at $1,497,450. This trade represents a 1.71 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Brian J. Willey purchased 1,500 shares of the firm’s stock in a transaction on Friday, September 6th. The shares were acquired at an average price of $50.50 per share, for a total transaction of $75,750.00. Following the purchase, the chief financial officer now directly owns 1,500 shares of the company’s stock, valued at approximately $75,750. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased 11,105 shares of company stock worth $562,306 in the last ninety days. Insiders own 6.10% of the company’s stock.

Analyst Ratings Changes

MTDR has been the topic of a number of research reports. Wells Fargo & Company cut their price objective on Matador Resources from $89.00 to $87.00 and set an “overweight” rating for the company in a report on Tuesday, October 1st. Truist Financial cut their price target on Matador Resources from $86.00 to $75.00 and set a “buy” rating for the company in a research note on Monday, September 30th. KeyCorp lowered their price target on Matador Resources from $76.00 to $72.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. BMO Capital Markets raised their price objective on shares of Matador Resources from $75.00 to $78.00 and gave the company an “outperform” rating in a research 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 research note on Thursday, October 24th. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $74.92.

Matador Resources Trading Up 1.7 %

Matador Resources stock opened at $58.99 on Friday. Matador Resources has a 52 week low of $47.15 and a 52 week high of $71.08. 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 firm has a market capitalization of $7.36 billion, a PE ratio of 7.81 and a beta of 3.26. The business’s 50-day simple moving average is $52.36 and its 200-day simple moving average is $57.03.

Matador Resources (NYSE:MTDR) last issued its quarterly 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 return on equity of 20.01% and a net margin of 27.45%. The company had revenue of $770.20 million during the quarter, compared to analyst estimates of $836.69 million. The company’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same period in the previous year, the company earned $1.86 earnings per share. Equities research analysts forecast that Matador Resources will post 7.5 earnings per share 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 issued a $0.25 dividend. The ex-dividend date of this dividend is Friday, November 15th. This is an increase from Matador Resources’s previous quarterly dividend of $0.20. This represents a $1.00 dividend on an annualized basis and a yield of 1.70%. Matador Resources’s dividend payout ratio is 10.60%.

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.