Zurcher Kantonalbank Zurich Cantonalbank Buys 2,578 Shares of Matador Resources (NYSE:MTDR)

Zurcher Kantonalbank Zurich Cantonalbank increased its position in Matador Resources (NYSE:MTDR) by 14.1% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 20,843 shares of the energy company’s stock after acquiring an additional 2,578 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Matador Resources were worth $1,030,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Securian Asset Management Inc. increased its position in Matador Resources by 1.9% in the 2nd 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 period. Raymond James Trust N.A. increased its holdings 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 purchasing an additional 198 shares during the period. Fifth Third Bancorp raised its position in Matador Resources by 16.6% during the 2nd quarter. Fifth Third Bancorp now owns 1,709 shares of the energy company’s stock worth $102,000 after purchasing an additional 243 shares during the last quarter. Quarry LP lifted its holdings in 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 buying an additional 251 shares during the period. Finally, Greenleaf Trust grew its position in shares of Matador Resources by 3.8% in the 3rd quarter. Greenleaf Trust now owns 7,086 shares of the energy company’s stock valued at $350,000 after buying an additional 260 shares during the last quarter. Institutional investors own 91.98% of the company’s stock.

Wall Street Analysts Forecast Growth

MTDR has been the topic of a number of recent analyst reports. BMO Capital Markets lifted their price objective on Matador Resources from $75.00 to $78.00 and gave the stock an “outperform” rating in a research note on Friday, October 4th. Wells Fargo & Company dropped their price target on shares of Matador Resources from $89.00 to $87.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 1st. Truist Financial decreased their price objective on shares of Matador Resources from $86.00 to $75.00 and set a “buy” rating for the company in a research report on Monday, September 30th. JPMorgan Chase & Co. dropped their target price on shares of Matador Resources from $77.00 to $71.00 and set an “overweight” rating on the stock in a report on Wednesday, October 30th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $70.00 price target on shares of Matador Resources in a report on Thursday, October 24th. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $74.92.

Insiders Place Their Bets

In other news, Director Robert Gaines Baty bought 500 shares of the stock in a transaction dated Friday, September 13th. The stock was bought at an average price of $50.58 per share, for a total transaction of $25,290.00. Following the completion of the acquisition, the director now directly owns 67,617 shares in the company, valued at approximately $3,420,067.86. This trade represents a 0.74 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Glenn W. Stetson purchased 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 30th. The shares were purchased at an average cost of $51.33 per share, for a total transaction of $51,330.00. Following the completion of the transaction, the executive vice president now directly owns 85,935 shares of the company’s stock, valued at $4,411,043.55. This represents a 1.18 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 5,605 shares of company stock valued at $282,406. Corporate insiders own 6.10% of the company’s stock.

Matador Resources Trading Up 1.0 %

NYSE MTDR opened at $58.11 on Friday. 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 52 week low of $47.15 and a 52 week high of $71.08. The business has a 50 day moving average price of $54.89 and a 200-day moving average price of $56.58. The company has a market cap of $7.25 billion, a price-to-earnings ratio of 7.70 and a beta of 3.26.

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, topping 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 firm had revenue of $770.20 million for the quarter, compared to the consensus estimate of $836.69 million. During the same quarter in the prior year, the company posted $1.86 earnings per share. The business’s revenue was up 9.8% on a year-over-year basis. As a group, equities analysts expect 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. Shareholders of record on Friday, November 15th will be paid a dividend of $0.25 per share. The ex-dividend date is Friday, November 15th. This represents a $1.00 dividend on an annualized basis and a yield of 1.72%. This is an increase from Matador Resources’s previous quarterly dividend of $0.20. Matador Resources’s payout ratio is 13.25%.

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.