Harbor Capital Advisors Inc. Purchases 7,354 Shares of Matador Resources (NYSE:MTDR)

Harbor Capital Advisors Inc. lifted its position in Matador Resources (NYSE:MTDR) by 26.6% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 35,003 shares of the energy company’s stock after purchasing an additional 7,354 shares during the period. Harbor Capital Advisors Inc.’s holdings in Matador Resources were worth $1,969,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. True Wealth Design LLC purchased a new position in Matador Resources in the third quarter worth about $37,000. Denver PWM LLC lifted its stake in shares of Matador Resources by 67.2% in the 3rd quarter. Denver PWM LLC now owns 754 shares of the energy company’s stock worth $37,000 after purchasing an additional 303 shares during the period. Avior Wealth Management LLC lifted its stake 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 purchasing an additional 635 shares during the period. Quarry LP boosted its holdings in shares of 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 buying an additional 251 shares during the last quarter. Finally, Covestor Ltd grew its position 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 during the period. Institutional investors own 91.98% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on MTDR. Stephens increased their price target on shares of Matador Resources from $78.00 to $80.00 and gave the stock an “overweight” rating in a research report on Friday, December 6th. Royal Bank of Canada reiterated an “outperform” rating and set a $70.00 target price on shares of Matador Resources in a research report on Friday, December 6th. KeyCorp cut their price target on Matador Resources from $76.00 to $72.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th. Morgan Stanley assumed coverage on Matador Resources in a research note on Friday. They issued an “equal weight” rating and a $78.00 price objective on the stock. Finally, Wells Fargo & Company boosted their price objective on Matador Resources from $87.00 to $91.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, Matador Resources has a consensus rating of “Moderate Buy” and a consensus price target of $74.79.

Insider Transactions at Matador Resources

In other Matador Resources news, EVP William Thomas Elsener purchased 800 shares of the stock in a transaction that occurred on Friday, December 13th. The stock was purchased at an average price of $56.60 per share, with a total value of $45,280.00. Following the acquisition, the executive vice president now owns 102,964 shares in the company, valued at approximately $5,827,762.40. The trade was a 0.78 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Glenn W. Stetson acquired 1,000 shares of Matador Resources stock in a transaction on Wednesday, October 30th. The shares were bought at an average cost of $51.33 per share, for a total transaction of $51,330.00. Following the completion of the purchase, the executive vice president now directly owns 85,935 shares of the company’s stock, valued at $4,411,043.55. The trade was a 1.18 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought 4,285 shares of company stock valued at $232,849 in the last ninety days. Corporate insiders own 6.10% of the company’s stock.

Matador Resources Stock Performance

MTDR opened at $61.40 on Friday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.84 and a current ratio of 0.88. The stock has a market capitalization of $7.66 billion, a price-to-earnings ratio of 8.13 and a beta of 3.24. The company has a fifty day moving average of $57.16 and a 200 day moving average of $56.01. 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 data on Tuesday, October 22nd. The energy company reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.78 by $0.11. The firm had revenue of $770.20 million during the quarter, compared to analyst estimates of $836.69 million. Matador Resources had a return on equity of 20.01% and a net margin of 27.45%. The business’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same quarter last year, the business posted $1.86 earnings per share. As a group, sell-side analysts forecast that Matador Resources will post 7.49 earnings per share for the current fiscal year.

Matador Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Friday, November 15th were paid a $0.25 dividend. This is an increase from Matador Resources’s previous quarterly dividend of $0.20. The ex-dividend date was Friday, November 15th. This represents a $1.00 dividend on an annualized basis and a yield of 1.63%. Matador Resources’s payout ratio is presently 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.