Harbor Capital Advisors Inc. Raises Position in Matador Resources (NYSE:MTDR)

Harbor Capital Advisors Inc. raised its holdings in shares of Matador Resources (NYSE:MTDR) by 26.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 35,003 shares of the energy company’s stock after buying an additional 7,354 shares during the period. Harbor Capital Advisors Inc.’s holdings in Matador Resources were worth $1,969,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of MTDR. True Wealth Design LLC bought a new position in Matador Resources during the 3rd quarter worth approximately $37,000. Denver PWM LLC boosted its stake in shares of Matador Resources by 67.2% during the third quarter. Denver PWM LLC now owns 754 shares of the energy company’s stock valued at $37,000 after purchasing an additional 303 shares during the period. Avior Wealth Management LLC grew its holdings in shares of Matador Resources by 329.0% in the third quarter. Avior Wealth Management LLC now owns 828 shares of the energy company’s stock worth $41,000 after purchasing an additional 635 shares during the last quarter. Quarry LP increased its stake in shares of Matador Resources by 47.5% in the second quarter. Quarry LP now owns 779 shares of the energy company’s stock worth $46,000 after buying an additional 251 shares during the period. Finally, Covestor Ltd raised its holdings in Matador Resources by 154.8% during the 3rd quarter. Covestor Ltd now owns 1,060 shares of the energy company’s stock valued at $52,000 after buying an additional 644 shares during the last quarter. 91.98% of the stock is owned by institutional investors.

Insider Activity at Matador Resources

In other Matador Resources news, EVP Glenn W. Stetson acquired 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 30th. The shares were bought at an average cost of $51.33 per share, with a total value of $51,330.00. Following the completion of the transaction, the executive vice president now directly owns 85,935 shares of the company’s stock, valued at approximately $4,411,043.55. This represents a 1.18 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP William Thomas Elsener acquired 800 shares of Matador Resources stock in a transaction that occurred on Friday, December 13th. The stock was acquired at an average price of $56.60 per share, with a total value of $45,280.00. Following the completion of the acquisition, the executive vice president now directly owns 102,964 shares in the company, valued at $5,827,762.40. This represents a 0.78 % increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 4,285 shares of company stock valued at $232,849. 6.10% of the stock is owned by insiders.

Analyst Ratings Changes

MTDR has been the topic of a number of analyst reports. JPMorgan Chase & Co. decreased their price objective on shares of Matador Resources from $77.00 to $71.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 30th. BMO Capital Markets increased their price objective on Matador Resources from $75.00 to $78.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. Truist Financial cut their price objective 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 reaffirmed an “outperform” rating and issued a $70.00 price target on shares of Matador Resources in a research note on Friday, December 6th. Finally, Morgan Stanley started coverage on shares of Matador Resources in a research report on Friday. They set an “equal weight” rating and a $78.00 price objective on the stock. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $74.79.

Matador Resources Price Performance

Shares of NYSE MTDR opened at $61.40 on Friday. The company has a 50 day simple moving average of $57.16 and a two-hundred day simple moving average of $56.01. Matador Resources has a fifty-two week low of $47.15 and a fifty-two week high of $71.08. The company has a market capitalization of $7.66 billion, a price-to-earnings ratio of 8.13 and a beta of 3.24. 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 (NYSE:MTDR) last posted its quarterly earnings data on Tuesday, October 22nd. The energy company reported $1.89 earnings per share for the quarter, beating 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. During the same quarter last year, the company earned $1.86 EPS. The firm’s revenue for the quarter was up 9.8% on a year-over-year basis. Analysts expect that Matador Resources will post 7.49 EPS for the current fiscal year.

Matador Resources Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Friday, November 15th were paid a $0.25 dividend. This is a boost from Matador Resources’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Friday, November 15th. This represents a $1.00 dividend on an annualized basis and a yield of 1.63%. Matador Resources’s payout ratio is presently 13.25%.

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.