KBC Group NV Grows Holdings in Matador Resources (NYSE:MTDR)

KBC Group NV increased its position in shares of Matador Resources (NYSE:MTDR) by 14.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,453 shares of the energy company’s stock after purchasing an additional 436 shares during the quarter. KBC Group NV’s holdings in Matador Resources were worth $171,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Securian Asset Management Inc. boosted its stake in Matador Resources by 1.9% in the second quarter. Securian Asset Management Inc. now owns 9,255 shares of the energy company’s stock valued at $552,000 after acquiring an additional 170 shares during the last quarter. Raymond James Trust N.A. boosted its stake in Matador Resources by 3.6% in the second quarter. Raymond James Trust N.A. now owns 5,714 shares of the energy company’s stock valued at $341,000 after acquiring an additional 198 shares during the last quarter. Covestor Ltd boosted its stake 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 acquiring an additional 227 shares during the last quarter. Fifth Third Bancorp boosted its stake in Matador Resources by 16.6% in the second quarter. Fifth Third Bancorp now owns 1,709 shares of the energy company’s stock valued at $102,000 after acquiring an additional 243 shares during the last quarter. Finally, Quarry LP boosted its stake in Matador Resources by 47.5% in the second quarter. Quarry LP now owns 779 shares of the energy company’s stock valued at $46,000 after acquiring an additional 251 shares during the last quarter. 91.98% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CAO Robert T. Macalik purchased 500 shares of the company’s stock in a transaction on Friday, September 6th. The stock was acquired at an average cost of $50.25 per share, for a total transaction of $25,125.00. Following the completion of the transaction, the chief accounting officer now directly owns 29,800 shares in the company, valued at $1,497,450. This trade represents a 1.71 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Bryan A. Erman bought 1,000 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The shares were bought at an average price of $50.35 per share, with a total value of $50,350.00. Following the transaction, the executive vice president now owns 2,750 shares of the company’s stock, valued at $138,462.50. The trade was a 57.14 % increase in their position. The disclosure for this purchase can be found here. Insiders purchased 11,105 shares of company stock valued at $562,306 over the last three months. Insiders own 6.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on MTDR. Capital One Financial upgraded shares of Matador Resources from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $80.00 to $84.00 in a research note on Thursday, July 25th. Stephens upped their price target on shares of Matador Resources from $76.00 to $78.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. JPMorgan Chase & Co. dropped their price target on shares of Matador Resources from $77.00 to $71.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 30th. BMO Capital Markets upped their target price on shares of Matador Resources from $75.00 to $78.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. Finally, KeyCorp decreased their target price on shares of Matador Resources from $76.00 to $72.00 and set an “overweight” rating on the stock in a report on Wednesday, October 16th. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $74.92.

Matador Resources Stock Up 2.5 %

Shares of Matador Resources stock opened at $59.19 on Thursday. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.88 and a quick ratio of 0.84. The company has a 50-day moving average of $53.05 and a 200 day moving average of $56.86. The firm has a market cap of $7.39 billion, a price-to-earnings ratio of 7.84 and a beta of 3.26. Matador Resources has a 1 year low of $47.15 and a 1 year high of $71.08.

Matador Resources (NYSE:MTDR) last released 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 during the quarter, compared to analyst estimates of $836.69 million. Matador Resources had a net margin of 27.45% and a return on equity of 20.01%. Matador Resources’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. As a group, sell-side analysts anticipate that Matador Resources will post 7.5 earnings per share for the current fiscal year.

Matador Resources Increases Dividend

The business also recently declared 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 is Friday, November 15th. This is a positive change 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 1.69%. Matador Resources’s payout ratio is currently 13.25%.

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.