Integrated Investment Consultants LLC Purchases New Shares in Matador Resources (NYSE:MTDR)

Integrated Investment Consultants LLC purchased a new stake in Matador Resources (NYSE:MTDR) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 14,006 shares of the energy company’s stock, valued at approximately $692,000.

A number of other hedge funds and other institutional investors have also modified their holdings of MTDR. Vanguard Group Inc. boosted its position in Matador Resources by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 11,124,705 shares of the energy company’s stock worth $742,797,000 after acquiring an additional 103,713 shares during the period. Dimensional Fund Advisors LP boosted its position in Matador Resources by 8.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,734,819 shares of the energy company’s stock worth $282,196,000 after acquiring an additional 356,506 shares during the period. Victory Capital Management Inc. boosted its position in Matador Resources by 2.7% during the 3rd quarter. Victory Capital Management Inc. now owns 2,752,102 shares of the energy company’s stock worth $136,009,000 after acquiring an additional 72,077 shares during the period. Clearbridge Investments LLC boosted its position in Matador Resources by 10.5% during the 2nd quarter. Clearbridge Investments LLC now owns 2,250,036 shares of the energy company’s stock worth $134,102,000 after acquiring an additional 214,334 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its position in Matador Resources by 5.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,104,791 shares of the energy company’s stock worth $73,768,000 after acquiring an additional 53,322 shares during the period. Institutional investors and hedge funds own 91.98% of the company’s stock.

Matador Resources Stock Up 1.8 %

Shares of NYSE:MTDR opened at $60.24 on Friday. The firm has a market cap of $7.52 billion, a P/E ratio of 7.98 and a beta of 3.26. 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 12-month low of $47.15 and a 12-month high of $71.08. The business has a fifty day simple moving average of $53.26 and a 200 day simple moving average of $56.88.

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, topping 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 during the quarter, compared to analyst estimates of $836.69 million. During the same period last year, the company posted $1.86 EPS. The business’s quarterly revenue was up 9.8% on a year-over-year basis. Analysts predict that Matador Resources will post 7.5 earnings per share for the current year.

Matador Resources Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 15th will be paid a $0.25 dividend. 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 annualized dividend and a dividend yield of 1.66%. Matador Resources’s dividend payout ratio (DPR) is currently 13.25%.

Insider Activity

In other Matador Resources news, CAO Robert T. Macalik bought 500 shares of the business’s stock in a transaction dated Friday, September 6th. The shares were purchased at an average price of $50.25 per share, for a total transaction of $25,125.00. Following the purchase, the chief accounting officer now directly owns 29,800 shares of the company’s stock, valued at approximately $1,497,450. This represents a 1.71 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Bryan A. Erman bought 1,000 shares of the business’s stock in a transaction dated Friday, September 6th. The stock was acquired at an average price of $50.35 per share, for a total transaction of $50,350.00. Following the purchase, the executive vice president now directly owns 2,750 shares in the company, valued at approximately $138,462.50. The trade was a 57.14 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought a total of 11,105 shares of company stock worth $562,306 in the last three months. Company insiders own 6.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on MTDR. 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. Mizuho cut their price objective on Matador Resources from $85.00 to $74.00 and set an “outperform” rating on the stock in a research note on Monday, September 16th. JPMorgan Chase & Co. cut their price objective on Matador Resources from $77.00 to $71.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 30th. Stephens raised their price objective on Matador Resources from $76.00 to $78.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. Finally, Benchmark reissued a “buy” rating and issued a $62.00 price objective on shares of Matador Resources in a research note on Wednesday, October 23rd. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target 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.