Fisher Asset Management LLC Has $31.56 Million Stock Position in Matador Resources (NYSE:MTDR)

Fisher Asset Management LLC lessened its stake in shares of Matador Resources (NYSE:MTDR) by 2.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 638,688 shares of the energy company’s stock after selling 18,742 shares during the period. Fisher Asset Management LLC owned about 0.51% of Matador Resources worth $31,564,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Denver PWM LLC acquired a new stake in shares of Matador Resources during the second quarter valued at approximately $27,000. Advisors Asset Management Inc. grew its position in Matador Resources by 191.8% during the 1st quarter. Advisors Asset Management Inc. now owns 709 shares of the energy company’s stock worth $47,000 after purchasing an additional 466 shares in the last quarter. 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 valued at $46,000 after purchasing an additional 251 shares during the period. Avior Wealth Management LLC lifted its holdings in shares of Matador Resources by 329.0% in the third quarter. Avior Wealth Management LLC now owns 828 shares of the energy company’s stock valued at $41,000 after purchasing an additional 635 shares in the last quarter. Finally, Covestor Ltd boosted its position in shares of Matador Resources by 154.8% in the third quarter. Covestor Ltd now owns 1,060 shares of the energy company’s stock worth $52,000 after buying an additional 644 shares during the period. 91.98% of the stock is owned by hedge funds and other institutional investors.

Matador Resources Price Performance

NYSE MTDR opened at $58.85 on Wednesday. Matador Resources has a fifty-two week low of $47.15 and a fifty-two week high of $71.08. The stock’s 50-day moving average is $53.66 and its two-hundred day moving average is $56.71. The firm has a market cap of $7.34 billion, a P/E ratio of 7.79 and a beta of 3.26. 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 issued its quarterly earnings data on Tuesday, October 22nd. The energy company reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.78 by $0.11. The business had revenue of $770.20 million for 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 firm’s revenue was up 9.8% compared to the same quarter last year. During the same period last year, the business earned $1.86 EPS. On average, analysts anticipate 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. Investors of record on Friday, November 15th will be issued a dividend of $0.25 per share. 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 currently 13.25%.

Insider Activity at Matador Resources

In other Matador Resources news, CEO Joseph Wm Foran bought 2,500 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The stock was purchased at an average price of $51.47 per share, for a total transaction of $128,675.00. Following the purchase, the chief executive officer now directly owns 37,751 shares in the company, valued at $1,943,043.97. This trade represents a 7.09 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Glenn W. Stetson purchased 1,000 shares of the company’s stock in a transaction on Wednesday, October 30th. The stock was acquired at an average cost of $51.33 per share, for a total transaction of $51,330.00. Following the completion of the transaction, the executive vice president now owns 85,935 shares in the company, valued at approximately $4,411,043.55. This trade represents a 1.18 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have bought 11,105 shares of company stock worth $562,306. 6.10% of the stock is owned by insiders.

Wall Street Analyst Weigh In

MTDR has been the subject of several research analyst reports. BMO Capital Markets increased their price objective on Matador Resources from $75.00 to $78.00 and gave the stock an “outperform” rating in a research note on Friday, October 4th. Truist Financial reduced 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. Wells Fargo & Company lowered their price objective on shares of Matador Resources from $89.00 to $87.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 1st. Royal Bank of Canada reiterated an “outperform” rating and issued a $70.00 target price on shares of Matador Resources in a research report on Thursday, October 24th. Finally, Benchmark reissued a “buy” rating and set a $62.00 target price on shares of Matador Resources in a research note on Wednesday, October 23rd. Two investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, Matador Resources currently has a consensus 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.