Wellington Management Group LLP Reduces Stock Holdings in Matador Resources (NYSE:MTDR)

Wellington Management Group LLP lowered its holdings in shares of Matador Resources (NYSE:MTDR) by 3.5% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,675,254 shares of the energy company’s stock after selling 61,402 shares during the quarter. Wellington Management Group LLP owned approximately 1.34% of Matador Resources worth $82,791,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Securian Asset Management Inc. lifted its position in Matador Resources by 1.9% during the second quarter. Securian Asset Management Inc. now owns 9,255 shares of the energy company’s stock valued at $552,000 after purchasing an additional 170 shares in the last quarter. Raymond James Trust N.A. lifted its position in shares of Matador Resources by 3.6% during the 2nd quarter. Raymond James Trust N.A. now owns 5,714 shares of the energy company’s stock valued at $341,000 after buying an additional 198 shares in the last quarter. ClearAlpha Technologies LP grew its stake in shares of Matador Resources by 4.3% during the 3rd quarter. ClearAlpha Technologies LP now owns 5,250 shares of the energy company’s stock valued at $259,000 after acquiring an additional 218 shares during the period. Fifth Third Bancorp increased its holdings in Matador Resources by 16.6% in the 2nd quarter. Fifth Third Bancorp now owns 1,709 shares of the energy company’s stock worth $102,000 after acquiring an additional 243 shares in the last quarter. Finally, Quarry LP raised its stake in Matador Resources by 47.5% during the 2nd quarter. Quarry LP now owns 779 shares of the energy company’s stock worth $46,000 after acquiring an additional 251 shares during the period. Hedge funds and other institutional investors own 91.98% of the company’s stock.

Matador Resources Price Performance

Matador Resources stock opened at $56.22 on Wednesday. Matador Resources has a 52-week low of $47.15 and a 52-week high of $71.08. The company has a market cap of $7.01 billion, a price-to-earnings ratio of 7.45 and a beta of 3.26. The firm’s fifty day moving average is $55.26 and its 200 day moving average is $56.41. 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 (NYSE:MTDR) last announced its earnings results on Tuesday, October 22nd. The energy company reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.78 by $0.11. Matador Resources had a net margin of 27.45% and a return on equity of 20.01%. 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 prior year, the company earned $1.86 EPS. The business’s revenue was up 9.8% compared to the same quarter last year. Sell-side analysts forecast that Matador Resources will post 7.5 EPS for the current fiscal year.

Matador Resources Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Friday, November 15th were 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 was Friday, November 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.78%. Matador Resources’s payout ratio is 13.25%.

Insider Activity at Matador Resources

In other Matador Resources news, CEO Joseph Wm Foran bought 2,000 shares of the business’s stock in a transaction dated Friday, December 6th. The shares were purchased at an average price of $55.18 per share, with a total value of $110,360.00. Following the completion of the purchase, the chief executive officer now owns 42,251 shares in the company, valued at $2,331,410.18. This represents a 4.97 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Robert Gaines Baty purchased 500 shares of Matador Resources stock in a transaction dated Friday, September 13th. The stock was acquired at an average price of $50.58 per share, for a total transaction of $25,290.00. Following the completion of the acquisition, the director now owns 67,617 shares of the company’s stock, valued at approximately $3,420,067.86. This trade represents a 0.74 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 3,805 shares of company stock worth $202,511. Company insiders own 6.10% of the company’s stock.

Analyst Ratings Changes

MTDR has been the subject of a number of recent analyst reports. 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 report on Monday, September 30th. KeyCorp cut their price target on Matador Resources from $76.00 to $72.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. BMO Capital Markets boosted their price objective on Matador Resources from $75.00 to $78.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. Stephens increased their target price on Matador Resources from $78.00 to $80.00 and gave the stock an “overweight” rating in a research report on Friday, December 6th. Finally, Benchmark reissued a “buy” rating and issued a $62.00 price target on shares of Matador Resources in a report on Wednesday, October 23rd. Two investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $75.08.

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.