Mutual of America Capital Management LLC Sells 3,704 Shares of Matador Resources (NYSE:MTDR)

Mutual of America Capital Management LLC lowered its stake in shares of Matador Resources (NYSE:MTDR) by 5.6% in the third quarter, Holdings Channel reports. The firm owned 62,736 shares of the energy company’s stock after selling 3,704 shares during the period. Mutual of America Capital Management LLC’s holdings in Matador Resources were worth $3,100,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Covestor Ltd boosted its holdings in shares of Matador Resources by 121.4% during the 1st quarter. Covestor Ltd now owns 414 shares of the energy company’s stock worth $28,000 after buying an additional 227 shares during the period. Denver PWM LLC acquired a new stake in shares of Matador Resources in the second quarter valued at about $27,000. Advisors Asset Management Inc. grew its position in shares of 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 purchasing an additional 466 shares during the last quarter. Quarry LP lifted its position in shares of 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 purchasing an additional 251 shares during the last quarter. Finally, GAMMA Investing LLC boosted its stake in Matador Resources by 28.7% during the 3rd quarter. GAMMA Investing LLC now owns 1,403 shares of the energy company’s stock valued at $69,000 after purchasing an additional 313 shares during the period. Institutional investors and hedge funds own 91.98% of the company’s stock.

Matador Resources Price Performance

Matador Resources stock opened at $60.92 on Friday. The business has a 50 day simple moving average of $53.26 and a 200 day simple moving average of $56.88. 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 market capitalization of $7.60 billion, a PE ratio of 8.07 and a beta of 3.26. Matador Resources has a one year low of $47.15 and a one year high of $71.08.

Matador Resources (NYSE:MTDR) last issued its earnings results on Tuesday, October 22nd. The energy company reported $1.89 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 company had revenue of $770.20 million for the quarter, compared to the consensus estimate of $836.69 million. During the same quarter in the previous year, the company earned $1.86 EPS. The firm’s revenue for the quarter was up 9.8% compared to the same quarter last year. On average, sell-side analysts forecast that Matador Resources will post 7.5 EPS 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. Shareholders of record on Friday, November 15th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.64%. This is a boost from Matador Resources’s previous quarterly dividend of $0.20. The ex-dividend date is Friday, November 15th. Matador Resources’s dividend payout ratio is currently 13.25%.

Insider Transactions at Matador Resources

In related news, CAO Robert T. Macalik acquired 500 shares of the firm’s stock in a transaction on Friday, September 6th. The shares were purchased at an average price of $50.25 per share, with a total value of $25,125.00. Following the acquisition, the chief accounting officer now directly owns 29,800 shares in the company, valued at $1,497,450. The trade was a 1.71 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, CEO Joseph Wm Foran bought 2,500 shares of the company’s stock in a transaction on Friday, September 6th. The stock was bought at an average cost of $51.47 per share, with a total value of $128,675.00. Following the completion of the purchase, the chief executive officer now owns 37,751 shares of the company’s stock, valued at approximately $1,943,043.97. The trade was a 7.09 % increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 11,105 shares of company stock valued at $562,306. Corporate insiders own 6.10% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on MTDR shares. Stephens upped their price target on Matador Resources from $76.00 to $78.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. Wells Fargo & Company cut their target price on shares of Matador Resources from $89.00 to $87.00 and set an “overweight” rating for the company in a research note on Tuesday, October 1st. BMO Capital Markets increased their price target on shares of Matador Resources from $75.00 to $78.00 and gave the company an “outperform” rating in a report on Friday, October 4th. Mizuho dropped their price objective on shares of Matador Resources from $85.00 to $74.00 and set an “outperform” rating on the stock in a report on Monday, September 16th. Finally, KeyCorp reduced their target price on shares of Matador Resources from $76.00 to $72.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus 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.