Lummis Asset Management LP Purchases 37,893 Shares of Matador Resources (NYSE:MTDR)

Lummis Asset Management LP increased its position in shares of Matador Resources (NYSE:MTDR) by 24.7% during the 3rd quarter, HoldingsChannel reports. The fund owned 191,102 shares of the energy company’s stock after acquiring an additional 37,893 shares during the quarter. Matador Resources comprises approximately 11.0% of Lummis Asset Management LP’s portfolio, making the stock its 2nd biggest holding. Lummis Asset Management LP’s holdings in Matador Resources were worth $9,444,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Covestor Ltd lifted its position in Matador Resources by 121.4% in the first quarter. Covestor Ltd now owns 414 shares of the energy company’s stock valued at $28,000 after buying an additional 227 shares during the last quarter. Denver PWM LLC acquired a new position in Matador Resources in the second quarter valued at about $27,000. Advisors Asset Management Inc. lifted its position in Matador Resources by 191.8% in the first quarter. Advisors Asset Management Inc. now owns 709 shares of the energy company’s stock valued at $47,000 after buying an additional 466 shares during the last quarter. Quarry LP increased its stake in Matador Resources by 47.5% during the second quarter. Quarry LP now owns 779 shares of the energy company’s stock worth $46,000 after purchasing an additional 251 shares during the period. Finally, GAMMA Investing LLC increased its stake in Matador Resources by 28.7% during the third quarter. GAMMA Investing LLC now owns 1,403 shares of the energy company’s stock worth $69,000 after purchasing an additional 313 shares during the period. Institutional investors and hedge funds own 91.98% of the company’s stock.

Insider Activity

In related news, CEO Joseph Wm Foran purchased 2,500 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The stock was purchased at an average cost of $51.47 per share, with a total value of $128,675.00. Following the completion of the acquisition, the chief executive officer now directly owns 37,751 shares in the company, valued at $1,943,043.97. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. In related news, CAO Robert T. Macalik purchased 500 shares of the firm’s stock in a transaction that occurred on 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 completion of the acquisition, the chief accounting officer now directly owns 29,800 shares in the company, valued at $1,497,450. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Joseph Wm Foran purchased 2,500 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The shares were bought at an average cost of $51.47 per share, with a total value of $128,675.00. Following the completion of the acquisition, the chief executive officer now owns 37,751 shares of the company’s stock, valued at approximately $1,943,043.97. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 11,105 shares of company stock valued at $562,306. 6.10% of the stock is currently owned by company insiders.

Matador Resources Stock Performance

Shares of MTDR stock traded up $0.85 during trading hours on Thursday, hitting $58.84. The stock had a trading volume of 74,842 shares, compared to its average volume of 1,531,148. The firm has a market capitalization of $7.34 billion, a PE ratio of 7.68 and a beta of 3.26. Matador Resources has a twelve month low of $47.15 and a twelve month high of $71.08. The stock’s 50 day moving average is $52.21 and its 200 day moving average is $57.01. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.88 and a quick ratio of 0.84.

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 the consensus estimate of $1.78 by $0.11. The business had revenue of $770.20 million during the quarter, compared to the consensus estimate of $836.69 million. Matador Resources had a return on equity of 20.01% and a net margin of 27.45%. The company’s revenue was up 9.8% compared to the same quarter last year. During the same period in the prior year, the company earned $1.86 earnings per share. As a group, research analysts forecast that Matador Resources will post 7.5 earnings per share for the current fiscal year.

Matador Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 15th will be issued a $0.25 dividend. 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 1.70%. The ex-dividend date of this dividend is Friday, November 15th. Matador Resources’s dividend payout ratio is presently 10.60%.

Analyst Upgrades and Downgrades

MTDR has been the topic of a number of recent research reports. TD Cowen boosted their price target on shares of Matador Resources from $85.00 to $87.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. BMO Capital Markets boosted their price target on shares of Matador Resources from $75.00 to $78.00 and gave the stock an “outperform” rating in a research note on Friday, October 4th. KeyCorp cut their price target on shares of Matador Resources from $76.00 to $72.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 16th. Wolfe Research initiated coverage on shares of Matador Resources in a research note on Thursday, July 18th. They set a “peer perform” rating on the stock. Finally, Mizuho cut their target price on shares of Matador Resources from $85.00 to $74.00 and set an “outperform” rating on the stock in a research note on Monday, September 16th. Two investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $74.92.

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.