Pitcairn Co. Lowers Position in Matador Resources (NYSE:MTDR)

Pitcairn Co. reduced its position in shares of Matador Resources (NYSE:MTDR) by 8.9% in the 3rd quarter, HoldingsChannel reports. The firm owned 8,124 shares of the energy company’s stock after selling 798 shares during the period. Pitcairn Co.’s holdings in Matador Resources were worth $401,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD boosted its position in shares of Matador Resources by 5.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,104,791 shares of the energy company’s stock worth $73,768,000 after purchasing an additional 53,322 shares in the last quarter. DekaBank Deutsche Girozentrale boosted 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 buying an additional 10,000 shares in the last quarter. 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. increased its holdings in Matador Resources by 2.9% in the second quarter. American Century Companies Inc. now owns 561,671 shares of the energy company’s stock valued at $33,476,000 after buying an additional 15,835 shares in the last quarter. Finally, Hsbc Holdings PLC lifted its position in shares of Matador Resources by 686.2% during the 2nd quarter. Hsbc Holdings PLC now owns 73,978 shares of the energy company’s stock valued at $4,432,000 after acquiring an additional 64,568 shares during the period. Institutional investors and hedge funds own 91.98% of the company’s stock.

Matador Resources Stock Performance

Matador Resources stock opened at $58.85 on Wednesday. The stock has a fifty day moving average price of $53.66 and a 200 day moving average price of $56.71. Matador Resources has a 52 week low of $47.15 and a 52 week high of $71.08. The firm has a market capitalization of $7.34 billion, a P/E ratio of 7.79 and a beta of 3.26. The company has a current ratio of 0.88, a quick ratio of 0.84 and a debt-to-equity ratio of 0.71.

Matador Resources (NYSE:MTDR) last posted its quarterly earnings data on Tuesday, October 22nd. The energy company reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.78 by $0.11. Matador Resources had a net margin of 27.45% and a return on equity of 20.01%. The company had revenue of $770.20 million during the quarter, compared to the consensus estimate of $836.69 million. During the same quarter in the prior year, the company posted $1.86 EPS. The company’s quarterly revenue was up 9.8% compared to the same quarter last year. Equities research analysts anticipate 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. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date is Friday, November 15th. This is a positive change from Matador Resources’s previous quarterly dividend of $0.20. Matador Resources’s dividend payout ratio (DPR) is 13.25%.

Insider Activity

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

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on MTDR. JPMorgan Chase & Co. dropped their price objective on Matador Resources from $77.00 to $71.00 and set an “overweight” rating for the company in a research note on Wednesday, October 30th. Benchmark reaffirmed a “buy” rating and set a $62.00 price target on shares of Matador Resources in a research note on Wednesday, October 23rd. BMO Capital Markets increased their price objective on shares of Matador Resources from $75.00 to $78.00 and gave the company an “outperform” rating in a research note on Friday, October 4th. Wells Fargo & Company cut their target price on shares of Matador Resources from $89.00 to $87.00 and set an “overweight” rating for the company in a research report on Tuesday, October 1st. Finally, Truist Financial lowered their price target 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. Two analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the stock currently 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.