Meritage Portfolio Management Lowers Holdings in Matador Resources (NYSE:MTDR)

Meritage Portfolio Management lowered its holdings in shares of Matador Resources (NYSE:MTDR) by 1.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 109,075 shares of the energy company’s stock after selling 1,776 shares during the quarter. Meritage Portfolio Management’s holdings in Matador Resources were worth $5,390,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Janney Montgomery Scott LLC purchased a new stake in Matador Resources in the 1st quarter worth $828,000. GSA Capital Partners LLP increased its stake in Matador Resources by 107.7% in the 1st quarter. GSA Capital Partners LLP now owns 7,328 shares of the energy company’s stock worth $489,000 after acquiring an additional 3,799 shares during the last quarter. Duality Advisers LP bought a new stake in Matador Resources in the 1st quarter worth approximately $267,000. Envestnet Portfolio Solutions Inc. raised its holdings in shares of Matador Resources by 4.6% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 11,233 shares of the energy company’s stock worth $750,000 after acquiring an additional 489 shares in the last quarter. Finally, SG Americas Securities LLC boosted its position in shares of Matador Resources by 1,166.1% during the 1st quarter. SG Americas Securities LLC now owns 31,172 shares of the energy company’s stock valued at $2,081,000 after acquiring an additional 28,710 shares during the last quarter. Institutional investors own 91.98% of the company’s stock.

Insider Activity at Matador Resources

In related news, CAO Robert T. Macalik purchased 500 shares of Matador Resources stock in a transaction dated Friday, September 6th. The stock was purchased at an average cost of $50.25 per share, with a total value of $25,125.00. Following the transaction, the chief accounting officer now owns 29,800 shares in the company, valued at approximately $1,497,450. The trade was a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Matador Resources news, CFO Brian J. Willey purchased 1,500 shares of Matador Resources stock in a transaction dated Friday, September 6th. The shares were acquired at an average cost of $50.50 per share, with a total value of $75,750.00. Following the completion of the transaction, the chief financial officer now owns 1,500 shares in the company, valued at approximately $75,750. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Robert T. Macalik bought 500 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The shares were acquired at an average price of $50.25 per share, for a total transaction of $25,125.00. Following the completion of the purchase, the chief accounting officer now owns 29,800 shares in the company, valued at $1,497,450. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired a total of 11,105 shares of company stock valued at $562,306 over the last ninety days. 6.10% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Capital One Financial upgraded shares of Matador Resources from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $80.00 to $84.00 in a research report on Thursday, July 25th. BMO Capital Markets increased their price target on shares of Matador Resources from $75.00 to $78.00 and gave the company an “outperform” rating in a report on Friday, October 4th. Mizuho dropped their price target on Matador Resources from $85.00 to $74.00 and set an “outperform” rating for the company in a research report on Monday, September 16th. KeyCorp dropped their target price on Matador Resources from $76.00 to $72.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th. Finally, Truist Financial lowered their price target on Matador Resources from $86.00 to $75.00 and set a “buy” rating for the company in a research report on Monday, September 30th. Two equities research 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, the stock has an average rating of “Moderate Buy” and a consensus price target of $74.92.

Matador Resources Trading Up 0.1 %

Shares of NYSE MTDR traded up $0.04 during trading hours on Friday, reaching $56.58. The stock had a trading volume of 938,828 shares, compared to its average volume of 1,835,815. The business’s fifty day moving average price is $52.01 and its two-hundred day moving average price is $57.18. The firm has a market cap of $7.06 billion, a price-to-earnings ratio of 7.49 and a beta of 3.26. Matador Resources has a 52-week low of $47.15 and a 52-week high of $71.08. 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 announced its quarterly earnings results on Tuesday, October 22nd. The energy company reported $1.89 EPS for the quarter, beating the consensus estimate 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 analyst estimates of $836.69 million. During the same quarter last year, the firm posted $1.86 earnings per share. The business’s revenue for the quarter was up 9.8% on a year-over-year basis. Analysts expect that Matador Resources will post 7.45 EPS for the current fiscal year.

Matador Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 15th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, November 15th. This is an increase from Matador Resources’s previous quarterly dividend of $0.20. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.77%. Matador Resources’s dividend payout ratio (DPR) is currently 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.