Matador Resources (NYSE:MTDR) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. reduced its holdings in shares of Matador Resources (NYSE:MTDR) by 4.0% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 1,878,150 shares of the energy company’s stock after selling 79,113 shares during the period. JPMorgan Chase & Co.’s holdings in Matador Resources were worth $92,818,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Denver PWM LLC acquired a new position in Matador Resources during the 2nd quarter worth $27,000. True Wealth Design LLC bought a new position in shares of Matador Resources during the third quarter worth about $37,000. Quarry LP grew its stake in Matador Resources by 47.5% in the second quarter. Quarry LP now owns 779 shares of the energy company’s stock worth $46,000 after purchasing an additional 251 shares in the last quarter. Avior Wealth Management LLC increased its holdings in Matador Resources by 329.0% in the third quarter. Avior Wealth Management LLC now owns 828 shares of the energy company’s stock valued at $41,000 after buying an additional 635 shares during the last quarter. Finally, Covestor Ltd raised its stake in Matador Resources by 154.8% during the third quarter. Covestor Ltd now owns 1,060 shares of the energy company’s stock valued at $52,000 after buying an additional 644 shares in the last quarter. Institutional investors and hedge funds own 91.98% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on MTDR. Royal Bank of Canada reissued an “outperform” rating and set a $70.00 price target on shares of Matador Resources in a research report on Friday, December 6th. Benchmark restated a “buy” rating and issued a $62.00 price target on shares of Matador Resources in a research report on Wednesday, October 23rd. BMO Capital Markets boosted their price objective on shares of Matador Resources from $75.00 to $78.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. Stephens raised their target price on shares of Matador Resources from $78.00 to $80.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. Finally, Truist Financial lowered their target price on Matador Resources from $86.00 to $75.00 and set a “buy” rating for the company in a report on Monday, September 30th. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $74.38.

Insider Transactions at Matador Resources

In other news, CEO Joseph Wm Foran bought 2,000 shares of the stock in a transaction that occurred on Friday, December 6th. The shares were purchased at an average cost of $55.18 per share, with a total value of $110,360.00. Following the completion of the acquisition, the chief executive officer now directly owns 42,251 shares in the company, valued at approximately $2,331,410.18. The trade was a 4.97 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP William Thomas Elsener purchased 800 shares of the business’s stock in a transaction on Friday, December 13th. The stock was acquired at an average cost of $56.60 per share, with a total value of $45,280.00. Following the completion of the acquisition, the executive vice president now directly owns 102,964 shares in the company, valued at $5,827,762.40. The trade was a 0.78 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 4,285 shares of company stock valued at $232,849. Corporate insiders own 6.10% of the company’s stock.

Matador Resources Price Performance

Shares of NYSE MTDR opened at $58.08 on Friday. The firm’s 50-day simple moving average is $56.16 and its 200 day simple moving average is $55.94. The stock has a market cap of $7.25 billion, a P/E ratio of 7.69 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 issued its quarterly earnings results on Tuesday, October 22nd. The energy company reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $836.69 million. During the same period in the prior year, the business posted $1.86 EPS. The business’s revenue for the quarter was up 9.8% compared to the same quarter last year. Equities analysts expect that Matador Resources will post 7.49 EPS for the current year.

Matador Resources Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Friday, November 15th were given a dividend of $0.25 per share. The ex-dividend date was 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 1.72%. Matador Resources’s dividend payout ratio (DPR) 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.