King Luther Capital Management Corp Purchases 7,208 Shares of Matador Resources (NYSE:MTDR)

King Luther Capital Management Corp lifted its position in Matador Resources (NYSE:MTDR) by 180.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,208 shares of the energy company’s stock after purchasing an additional 7,208 shares during the quarter. King Luther Capital Management Corp’s holdings in Matador Resources were worth $554,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Commerce Bank grew its holdings in shares of Matador Resources by 9.7% during the 3rd quarter. Commerce Bank now owns 12,360 shares of the energy company’s stock valued at $611,000 after purchasing an additional 1,098 shares during the last quarter. Segall Bryant & Hamill LLC boosted its position in Matador Resources by 6.4% during the third quarter. Segall Bryant & Hamill LLC now owns 959,550 shares of the energy company’s stock valued at $47,421,000 after buying an additional 57,995 shares during the period. Avior Wealth Management LLC grew its stake in shares of Matador Resources by 329.0% during the third quarter. Avior Wealth Management LLC now owns 828 shares of the energy company’s stock valued at $41,000 after buying an additional 635 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of Matador Resources in the third quarter worth about $2,330,000. Finally, Pathstone Holdings LLC lifted its stake in shares of Matador Resources by 6.4% in the 3rd quarter. Pathstone Holdings LLC now owns 237,504 shares of the energy company’s stock valued at $11,737,000 after acquiring an additional 14,282 shares during the last quarter. 91.98% of the stock is currently owned by institutional investors.

Insider Transactions at Matador Resources

In other news, EVP Glenn W. Stetson bought 1,000 shares of the firm’s stock in a transaction on Wednesday, October 30th. The stock was acquired at an average cost of $51.33 per share, with a total value of $51,330.00. Following the completion of the acquisition, the executive vice president now owns 85,935 shares of the company’s stock, valued at approximately $4,411,043.55. This represents a 1.18 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Brian J. Willey purchased 1,500 shares of Matador Resources stock in a transaction that occurred on Friday, September 6th. The shares were purchased at an average cost 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 $75,750. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased a total of 11,105 shares of company stock valued at $562,306 in the last quarter. 6.10% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Wells Fargo & Company reduced their price target on Matador Resources from $89.00 to $87.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 1st. Benchmark reaffirmed a “buy” rating and issued a $62.00 target price on shares of Matador Resources in a research note on Wednesday, October 23rd. Mizuho lowered their price target on shares of Matador Resources from $85.00 to $74.00 and set an “outperform” rating for the company in a report on Monday, September 16th. BMO Capital Markets raised their price target on shares of Matador Resources from $75.00 to $78.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Matador Resources from $77.00 to $71.00 and set an “overweight” rating for the company in a research note on Wednesday, October 30th. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $74.92.

Matador Resources Stock Up 1.2 %

Shares of NYSE:MTDR opened at $60.91 on Friday. 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 $7.60 billion, a P/E ratio of 8.07 and a beta of 3.26. 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 stock has a 50 day moving average price of $53.48 and a 200-day moving average price of $56.81.

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 firm had revenue of $770.20 million for the quarter, compared to analysts’ expectations of $836.69 million. During the same period in the previous year, the firm posted $1.86 EPS. The business’s revenue for the quarter was up 9.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Matador Resources will post 7.5 EPS for the current fiscal year.

Matador Resources Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 15th will be issued a dividend of $0.25 per share. The ex-dividend date is Friday, November 15th. This is an increase from Matador Resources’s previous quarterly dividend of $0.20. This represents a $1.00 annualized dividend and a dividend yield of 1.64%. Matador Resources’s dividend payout ratio (DPR) 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.