Verdence Capital Advisors LLC Acquires 1,153 Shares of Matador Resources (NYSE:MTDR)

Verdence Capital Advisors LLC increased its position in Matador Resources (NYSE:MTDR) by 19.2% during the 3rd quarter, Holdings Channel reports. The firm owned 7,149 shares of the energy company’s stock after acquiring an additional 1,153 shares during the quarter. Verdence Capital Advisors LLC’s holdings in Matador Resources were worth $353,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in MTDR. Summit Global Investments purchased a new position in Matador Resources during the third quarter valued at approximately $906,000. QRG Capital Management Inc. lifted its stake in shares of Matador Resources by 13.2% during the third quarter. QRG Capital Management Inc. now owns 5,133 shares of the energy company’s stock worth $254,000 after buying an additional 598 shares during the period. Harbor Capital Advisors Inc. lifted its position in Matador Resources by 113.5% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 27,649 shares of the energy company’s stock worth $1,366,000 after acquiring an additional 14,696 shares during the period. Ceredex Value Advisors LLC boosted its position in Matador Resources by 19.3% in the third 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 last quarter. Finally, New York State Teachers Retirement System increased its stake in shares of Matador Resources by 7.0% in the third quarter. New York State Teachers Retirement System now owns 132,596 shares of the energy company’s stock worth $6,553,000 after acquiring an additional 8,732 shares during the period. Institutional investors own 91.98% of the company’s stock.

Matador Resources Price Performance

Matador Resources stock opened at $57.26 on Tuesday. The company has a quick ratio of 0.84, a current ratio of 0.88 and a debt-to-equity ratio of 0.71. Matador Resources has a 52-week low of $47.15 and a 52-week high of $71.08. The firm has a market cap of $7.14 billion, a PE ratio of 7.58 and a beta of 3.26. The company’s 50 day moving average is $52.02 and its two-hundred day moving average is $57.06.

Matador Resources (NYSE:MTDR) last released its earnings results on Tuesday, October 22nd. The energy company reported $1.89 earnings per share (EPS) 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 firm had revenue of $770.20 million during the quarter, compared to analyst estimates of $836.69 million. During the same period last year, the business posted $1.86 earnings per share. Matador Resources’s revenue was up 9.8% compared to the same quarter last year. On average, research analysts expect that Matador Resources will post 7.45 EPS for the current fiscal year.

Matador Resources Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 15th will be issued 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 is Friday, November 15th. This represents a $1.00 annualized dividend and a yield of 1.75%. Matador Resources’s dividend payout ratio (DPR) is 10.60%.

Insider Buying and Selling

In other news, EVP Bryan A. Erman acquired 1,000 shares of Matador Resources stock in a transaction dated Friday, September 6th. The shares were acquired at an average cost of $50.35 per share, for a total transaction of $50,350.00. Following the acquisition, the executive vice president now owns 2,750 shares of the company’s stock, valued at $138,462.50. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Matador Resources news, EVP Bryan A. Erman purchased 1,000 shares of the stock in a transaction that occurred on Friday, September 6th. The stock was purchased at an average cost of $50.35 per share, with a total value of $50,350.00. Following the completion of the acquisition, the executive vice president now directly owns 2,750 shares of the company’s stock, valued at $138,462.50. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robert Gaines Baty purchased 500 shares of the company’s stock in a transaction on Friday, September 13th. The stock was bought at an average price of $50.58 per share, for a total transaction of $25,290.00. Following the completion of the purchase, the director now directly owns 67,617 shares of the company’s stock, valued at $3,420,067.86. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought 11,105 shares of company stock worth $562,306 over the last 90 days. 6.10% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. BMO Capital Markets lifted their price target on Matador Resources from $75.00 to $78.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. Royal Bank of Canada reiterated an “outperform” rating and set a $70.00 price objective on shares of Matador Resources in a research note on Thursday, October 24th. Wells Fargo & Company reduced 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. Mizuho reduced their price objective on Matador Resources from $85.00 to $74.00 and set an “outperform” rating on the stock in a research report on Monday, September 16th. Finally, Truist Financial dropped their price target on shares of Matador Resources from $86.00 to $75.00 and set a “buy” rating for the company in a research note on Monday, September 30th. Two investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Matador Resources currently has a consensus rating of “Moderate Buy” and an average target price of $74.92.

About Matador Resources

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.