Los Angeles Capital Management LLC Sells 293,614 Shares of Matador Resources (NYSE:MTDR)

Los Angeles Capital Management LLC decreased its holdings in Matador Resources (NYSE:MTDR) by 93.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,925 shares of the energy company’s stock after selling 293,614 shares during the period. Los Angeles Capital Management LLC’s holdings in Matador Resources were worth $1,034,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of MTDR. Janney Montgomery Scott LLC purchased a new stake in Matador Resources during the 1st quarter worth about $828,000. Prevail Innovative Wealth Advisors LLC lifted its holdings in shares of Matador Resources by 28.6% in the first quarter. Prevail Innovative Wealth Advisors LLC now owns 37,163 shares of the energy company’s stock worth $2,481,000 after buying an additional 8,254 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Matador Resources by 5.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,104,791 shares of the energy company’s stock worth $73,768,000 after buying an additional 53,322 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Matador Resources by 0.9% in the first quarter. Vanguard Group Inc. now owns 11,124,705 shares of the energy company’s stock valued at $742,797,000 after acquiring an additional 103,713 shares during the period. Finally, DekaBank Deutsche Girozentrale grew its stake in Matador Resources by 304.1% during the first quarter. DekaBank Deutsche Girozentrale now owns 13,288 shares of the energy company’s stock valued at $863,000 after acquiring an additional 10,000 shares in the last quarter. Institutional investors own 91.98% of the company’s stock.

Insider Activity

In other Matador Resources news, CFO Brian J. Willey purchased 1,500 shares of the stock in a transaction on Friday, September 6th. The stock was acquired at an average price of $50.50 per share, with a total value of $75,750.00. Following the transaction, the chief financial officer now directly owns 1,500 shares of the company’s stock, valued at approximately $75,750. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Joseph Wm Foran acquired 2,500 shares of the company’s stock in a transaction on Friday, September 6th. The stock was acquired at an average price of $51.47 per share, with a total value of $128,675.00. Following the acquisition, the chief executive officer now owns 37,751 shares in the company, valued at approximately $1,943,043.97. This trade represents a 7.09 % increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 11,105 shares of company stock valued at $562,306. 6.10% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have commented on MTDR shares. TD Cowen raised their price target on shares of Matador Resources from $85.00 to $87.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Royal Bank of Canada reissued an “outperform” rating and set a $70.00 price objective on shares of Matador Resources in a research note on Thursday, October 24th. Truist Financial decreased their target price on Matador Resources from $86.00 to $75.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. JPMorgan Chase & Co. dropped their price target on Matador Resources from $77.00 to $71.00 and set an “overweight” rating for the company in a research report on Wednesday, October 30th. Finally, Capital One Financial upgraded shares of Matador Resources from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $80.00 to $84.00 in a research report on Thursday, July 25th. Two equities research 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 a consensus target price of $74.92.

Matador Resources Price Performance

Shares of Matador Resources stock opened at $58.99 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. Matador Resources has a 52-week low of $47.15 and a 52-week high of $71.08. The company has a fifty day moving average of $52.36 and a 200-day moving average of $57.03. The stock has a market capitalization of $7.36 billion, a price-to-earnings ratio of 7.81 and a beta of 3.26.

Matador Resources (NYSE:MTDR) last posted its quarterly earnings results 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 during the quarter, compared to analyst estimates of $836.69 million. Matador Resources had a net margin of 27.45% and a return on equity of 20.01%. The company’s revenue was up 9.8% on a year-over-year basis. During the same period in the prior year, the business posted $1.86 earnings per share. Equities research analysts expect that Matador Resources will post 7.5 EPS for the current year.

Matador Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 15th will be given a $0.25 dividend. The ex-dividend date is Friday, November 15th. This represents a $1.00 annualized dividend and a yield of 1.70%. This is an increase from Matador Resources’s previous quarterly dividend of $0.20. Matador Resources’s payout ratio is presently 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.