Louisiana State Employees Retirement System Lowers Stake in Matador Resources (NYSE:MTDR)

Louisiana State Employees Retirement System lowered its holdings in shares of Matador Resources (NYSE:MTDR) by 1.8% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 32,200 shares of the energy company’s stock after selling 600 shares during the period. Louisiana State Employees Retirement System’s holdings in Matador Resources were worth $1,591,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Covestor Ltd grew 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 valued at $28,000 after purchasing an additional 227 shares during the last quarter. Denver PWM LLC bought a new position in shares of Matador Resources during the 2nd quarter valued at $27,000. Advisors Asset Management Inc. grew its holdings in Matador Resources by 191.8% in the 1st quarter. Advisors Asset Management Inc. now owns 709 shares of the energy company’s stock worth $47,000 after acquiring an additional 466 shares during the last quarter. Quarry LP grew its holdings in Matador Resources by 47.5% in the 2nd quarter. Quarry LP now owns 779 shares of the energy company’s stock worth $46,000 after acquiring an additional 251 shares during the last quarter. Finally, Fidelis Capital Partners LLC bought a new stake in Matador Resources in the 1st quarter worth $73,000. Institutional investors own 91.98% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Joseph Wm Foran bought 2,500 shares of the firm’s stock in a transaction on Monday, September 9th. The stock was acquired at an average cost of $49.97 per share, with a total value of $124,925.00. Following the completion of the acquisition, the chief executive officer now owns 40,251 shares of the company’s stock, valued at approximately $2,011,342.47. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Bryan A. Erman purchased 1,000 shares of Matador Resources stock in a transaction dated Friday, September 6th. The stock was purchased at an average cost of $50.35 per share, for a total transaction of $50,350.00. Following the completion of the purchase, the executive vice president now directly owns 2,750 shares of the company’s stock, valued at $138,462.50. The trade was a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Joseph Wm Foran purchased 2,500 shares of Matador Resources stock in a transaction dated Monday, September 9th. The stock was bought at an average price of $49.97 per share, with a total value of $124,925.00. Following the completion of the purchase, the chief executive officer now directly owns 40,251 shares of the company’s stock, valued at approximately $2,011,342.47. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 10,105 shares of company stock valued at $510,976. Insiders own 6.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. JPMorgan Chase & Co. cut their price target on shares of Matador Resources from $77.00 to $71.00 and set an “overweight” rating on the stock in a report on Wednesday. TD Cowen raised their price target on shares of Matador Resources from $85.00 to $87.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. BMO Capital Markets raised their price target 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. Stephens raised their price target on shares of Matador Resources from $76.00 to $78.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. Finally, Mizuho dropped their target price on shares of Matador Resources from $85.00 to $74.00 and set an “outperform” rating for the company in a research report on Monday, September 16th. Two analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $74.92.

Matador Resources Trading Up 0.7 %

Shares of NYSE MTDR opened at $52.09 on Friday. Matador Resources has a 1 year low of $47.15 and a 1 year high of $71.08. The stock has a market cap of $6.50 billion, a P/E ratio of 6.90 and a beta of 3.26. The firm has a 50-day moving average of $52.42 and a 200 day moving average of $57.74. 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 earnings results on Tuesday, October 22nd. The energy company reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.78 by $0.11. The business had revenue of $770.20 million during the quarter, compared to analysts’ expectations of $836.69 million. Matador Resources had a net margin of 27.45% and a return on equity of 20.01%. The business’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period in the previous year, the company earned $1.86 earnings per share. As a group, sell-side analysts expect that Matador Resources will post 7.42 EPS for the current fiscal year.

Matador Resources Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 15th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Friday, November 15th. This is a boost from Matador Resources’s previous quarterly dividend of $0.20. This represents a $1.00 annualized dividend and a yield of 1.92%. Matador Resources’s payout ratio is 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.