Matador Resources (NYSE:MTDR) Shares Sold by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA lowered its stake in Matador Resources (NYSE:MTDR) by 11.0% in the 3rd quarter, Holdings Channel.com reports. The firm owned 1,410,999 shares of the energy company’s stock after selling 173,665 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Matador Resources were worth $69,732,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Denver PWM LLC bought a new position in Matador Resources during the second quarter worth $27,000. Advisors Asset Management Inc. raised its holdings in shares of Matador Resources by 191.8% during the first quarter. Advisors Asset Management Inc. now owns 709 shares of the energy company’s stock worth $47,000 after purchasing an additional 466 shares during the period. Quarry LP raised its holdings in shares of Matador Resources by 47.5% during the second quarter. Quarry LP now owns 779 shares of the energy company’s stock worth $46,000 after purchasing an additional 251 shares during the period. Avior Wealth Management LLC lifted its position in shares of Matador Resources by 329.0% in the 3rd quarter. Avior Wealth Management LLC now owns 828 shares of the energy company’s stock worth $41,000 after buying an additional 635 shares during the last quarter. Finally, Covestor Ltd boosted its holdings in shares of Matador Resources by 154.8% in the 3rd quarter. Covestor Ltd now owns 1,060 shares of the energy company’s stock valued at $52,000 after buying an additional 644 shares during the period. Institutional investors and hedge funds own 91.98% of the company’s stock.

Matador Resources Stock Performance

MTDR stock opened at $60.91 on Monday. The company has a 50-day simple moving average of $53.48 and a 200 day simple moving average of $56.75. The company has a market capitalization of $7.60 billion, a P/E ratio of 8.07 and a beta of 3.26. The company has a quick ratio of 0.84, a current ratio of 0.88 and a debt-to-equity ratio of 0.71. Matador Resources has a fifty-two week low of $47.15 and a fifty-two week high of $71.08.

Matador Resources (NYSE:MTDR) last posted its quarterly earnings data on Tuesday, October 22nd. The energy company reported $1.89 earnings per share (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 business had revenue of $770.20 million during the quarter, compared to analysts’ expectations of $836.69 million. During the same period last year, the firm posted $1.86 earnings per share. The business’s revenue was up 9.8% on a year-over-year basis. Sell-side analysts predict that Matador Resources will post 7.5 earnings per share for the current fiscal year.

Matador Resources Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 15th will be given a dividend of $0.25 per share. The ex-dividend date 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 dividend yield of 1.64%. Matador Resources’s dividend payout ratio (DPR) is 13.25%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. KeyCorp dropped their price objective on shares of Matador Resources from $76.00 to $72.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 16th. Benchmark reiterated a “buy” rating and set a $62.00 price target on shares of Matador Resources in a research report on Wednesday, October 23rd. Stephens boosted their price objective on Matador Resources from $76.00 to $78.00 and gave the company an “overweight” rating in a research report on Monday, October 21st. Royal Bank of Canada restated an “outperform” rating and set a $70.00 price objective on shares of Matador Resources in a research note on Thursday, October 24th. Finally, JPMorgan Chase & Co. cut their target price on Matador Resources from $77.00 to $71.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 30th. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Matador Resources has a consensus rating of “Moderate Buy” and a consensus target price of $74.92.

Insider Activity

In other Matador Resources news, CFO Brian J. Willey purchased 1,500 shares of the firm’s stock in a transaction on Friday, September 6th. The shares were purchased at an average price of $50.50 per share, for a total transaction of $75,750.00. Following the completion of the transaction, the chief financial officer now owns 1,500 shares in the company, valued at $75,750. This represents a ? increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Bryan A. Erman acquired 1,000 shares of the business’s stock in a transaction dated 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 directly owns 2,750 shares in the company, valued at approximately $138,462.50. The trade was a 57.14 % increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 11,105 shares of company stock worth $562,306. 6.10% of the stock is owned by company insiders.

Matador Resources Company 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.