Segall Bryant & Hamill LLC Purchases 57,995 Shares of Matador Resources (NYSE:MTDR)

Segall Bryant & Hamill LLC raised its position in shares of Matador Resources (NYSE:MTDR) by 6.4% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 959,550 shares of the energy company’s stock after purchasing an additional 57,995 shares during the period. Matador Resources comprises 0.6% of Segall Bryant & Hamill LLC’s portfolio, making the stock its 26th biggest position. Segall Bryant & Hamill LLC owned 0.77% of Matador Resources worth $47,421,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in MTDR. 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 purchasing an additional 635 shares during the period. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in Matador Resources during the third quarter worth $2,330,000. Pathstone Holdings LLC lifted its holdings in Matador Resources by 6.4% during the third quarter. Pathstone Holdings LLC now owns 237,504 shares of the energy company’s stock worth $11,737,000 after buying an additional 14,282 shares during the period. Lindenwold Advisors INC boosted its position in Matador Resources by 5.1% during the 3rd quarter. Lindenwold Advisors INC now owns 6,650 shares of the energy company’s stock valued at $329,000 after acquiring an additional 321 shares in the last quarter. Finally, Quest Partners LLC purchased a new position in shares of Matador Resources in the 3rd quarter valued at $1,286,000. 91.98% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Matador Resources

In related news, CFO Brian J. Willey acquired 1,500 shares of Matador Resources stock in a transaction on Friday, September 6th. The stock was bought at an average cost 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 of the company’s stock, valued at approximately $75,750. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Joseph Wm Foran purchased 2,500 shares of Matador Resources stock in a transaction that occurred on Friday, September 6th. The shares were bought at an average price of $51.47 per share, with a total value of $128,675.00. Following the transaction, the chief executive officer now owns 37,751 shares in the company, valued at approximately $1,943,043.97. The trade was a 7.09 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought a total of 11,105 shares of company stock worth $562,306 in the last three months. Company insiders own 6.10% of the company’s stock.

Analyst Upgrades and Downgrades

MTDR has been the subject of a number of analyst reports. KeyCorp decreased their price objective on Matador Resources from $76.00 to $72.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. Truist Financial lowered their price target on shares of Matador Resources from $86.00 to $75.00 and set a “buy” rating on the stock in a report on Monday, September 30th. Stephens boosted their price objective on shares of Matador Resources from $76.00 to $78.00 and gave the stock an “overweight” rating in a research note on Monday, October 21st. Benchmark restated a “buy” rating and issued a $62.00 target price on shares of Matador Resources in a research note on Wednesday, October 23rd. Finally, Capital One Financial raised Matador Resources from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $80.00 to $84.00 in a research report on Thursday, July 25th. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Matador Resources has a consensus rating of “Moderate Buy” and an average price target of $74.92.

Matador Resources Price Performance

NYSE:MTDR opened at $57.78 on Wednesday. The firm’s fifty day moving average is $52.85 and its two-hundred day moving average is $56.84. The firm has a market cap of $7.21 billion, a price-to-earnings ratio of 7.65 and a beta of 3.26. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.84 and a current ratio of 0.88. Matador Resources has a one year low of $47.15 and a one year high of $71.08.

Matador Resources (NYSE:MTDR) last issued its earnings results on Tuesday, October 22nd. The energy company reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.78 by $0.11. The firm had revenue of $770.20 million for the quarter, compared to the consensus estimate of $836.69 million. Matador Resources had a return on equity of 20.01% and a net margin of 27.45%. The company’s revenue was up 9.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.86 earnings per share. Research analysts expect that Matador Resources will post 7.5 EPS for the current year.

Matador Resources Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 15th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.73%. This is a positive change from Matador Resources’s previous quarterly dividend of $0.20. The ex-dividend date is Friday, November 15th. Matador Resources’s payout ratio is 13.25%.

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.