Massachusetts Financial Services Co. MA Reduces Holdings in Matador Resources (NYSE:MTDR)

Massachusetts Financial Services Co. MA decreased its position in shares of Matador Resources (NYSE:MTDR) by 5.2% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,584,664 shares of the energy company’s stock after selling 86,391 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 1.27% of Matador Resources worth $94,446,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Essex Investment Management Co. LLC grew its holdings in shares of Matador Resources by 0.5% during the first quarter. Essex Investment Management Co. LLC now owns 37,532 shares of the energy company’s stock worth $2,506,000 after purchasing an additional 169 shares during the last quarter. Securian Asset Management Inc. grew its holdings in shares of Matador Resources by 1.9% during the second quarter. Securian Asset Management Inc. now owns 9,255 shares of the energy company’s stock worth $552,000 after purchasing an additional 170 shares during the last quarter. Raymond James Trust N.A. grew its holdings in shares of Matador Resources by 3.6% during the second quarter. Raymond James Trust N.A. now owns 5,714 shares of the energy company’s stock worth $341,000 after buying an additional 198 shares during the last quarter. Covestor Ltd grew its holdings in shares of Matador Resources by 121.4% during the first quarter. Covestor Ltd now owns 414 shares of the energy company’s stock worth $28,000 after buying an additional 227 shares during the last quarter. Finally, Fifth Third Bancorp grew its holdings in shares of Matador Resources by 16.6% during the second quarter. Fifth Third Bancorp now owns 1,709 shares of the energy company’s stock worth $102,000 after buying an additional 243 shares during the last quarter. Hedge funds and other institutional investors own 91.98% of the company’s stock.

Matador Resources Price Performance

Shares of MTDR opened at $51.70 on Thursday. The stock’s 50 day moving average is $56.95 and its two-hundred day moving average is $60.96. Matador Resources has a twelve month low of $48.22 and a twelve month high of $71.08. The company has a current ratio of 0.86, a quick ratio of 0.82 and a debt-to-equity ratio of 0.41. The firm has a market capitalization of $6.45 billion, a PE ratio of 7.08 and a beta of 3.27.

Matador Resources (NYSE:MTDR) last posted its quarterly earnings results on Tuesday, July 23rd. The energy company reported $2.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.76 by $0.29. Matador Resources had a net margin of 29.01% and a return on equity of 21.12%. The company had revenue of $847.14 million during the quarter, compared to the consensus estimate of $822.55 million. During the same period last year, the firm earned $1.42 EPS. The company’s revenue for the quarter was up 32.8% on a year-over-year basis. Research analysts anticipate that Matador Resources will post 7.83 earnings per share for the current year.

Matador Resources Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Thursday, August 15th were given a dividend of $0.20 per share. The ex-dividend date was Thursday, August 15th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.55%. Matador Resources’s payout ratio is 10.96%.

Insider Activity

In related news, CAO Robert T. Macalik purchased 500 shares of Matador Resources stock in a transaction dated Friday, August 2nd. The stock was bought at an average cost of $54.50 per share, for a total transaction of $27,250.00. Following the transaction, the chief accounting officer now owns 29,300 shares in the company, valued at $1,596,850. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CAO Robert T. Macalik acquired 500 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The stock was purchased at an average cost of $54.50 per share, for a total transaction of $27,250.00. Following the transaction, the chief accounting officer now directly owns 29,300 shares of the company’s stock, valued at approximately $1,596,850. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Joseph Wm Foran acquired 2,000 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The shares were bought at an average price of $55.96 per share, with a total value of $111,920.00. Following the completion of the transaction, the chief executive officer now directly owns 35,251 shares in the company, valued at $1,972,645.96. The disclosure for this purchase can be found here. In the last three months, insiders purchased 12,300 shares of company stock worth $634,615. Company insiders own 6.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on MTDR. JPMorgan Chase & Co. lowered their price target on Matador Resources from $83.00 to $76.00 and set an “overweight” rating on the stock in a report on Thursday, September 12th. Benchmark reissued a “buy” rating and set a $62.00 price target on shares of Matador Resources in a report on Wednesday, July 24th. Wolfe Research began coverage on Matador Resources in a report on Thursday, July 18th. They set a “peer perform” rating on the stock. Stephens lowered their price target on Matador Resources from $83.00 to $81.00 and set an “overweight” rating on the stock in a report on Wednesday, July 24th. Finally, Capital One Financial raised Matador Resources from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $80.00 to $84.00 in a report on Thursday, July 25th. Two equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Matador Resources has a consensus rating of “Moderate Buy” and an average target price of $77.17.

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.