Oak Ridge Investments LLC Decreases Stock Holdings in Matador Resources (NYSE:MTDR)

Oak Ridge Investments LLC reduced its position in shares of Matador Resources (NYSE:MTDR) by 23.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 57,354 shares of the energy company’s stock after selling 17,691 shares during the period. Oak Ridge Investments LLC’s holdings in Matador Resources were worth $2,834,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Boston Trust Walden Corp bought a new position in Matador Resources during the 3rd quarter valued at approximately $51,788,000. Element Capital Management LLC purchased a new stake in Matador Resources in the first quarter worth $28,572,000. Dimensional Fund Advisors LP boosted its holdings in Matador Resources by 8.1% in the second quarter. Dimensional Fund Advisors LP now owns 4,734,819 shares of the energy company’s stock valued at $282,196,000 after acquiring an additional 356,506 shares in the last quarter. Los Angeles Capital Management LLC purchased a new position in Matador Resources during the 2nd quarter valued at $18,747,000. Finally, Yaupon Capital Management LP purchased a new position in Matador Resources during the 1st quarter valued at $17,874,000. 91.98% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MTDR has been the topic of a number of research reports. KeyCorp cut their target price 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. TD Cowen lifted their price objective on Matador Resources from $85.00 to $87.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. BMO Capital Markets increased their target price on Matador Resources from $75.00 to $78.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. Stephens lifted their price target on Matador Resources from $76.00 to $78.00 and gave the company an “overweight” rating in a research report on Monday, October 21st. Finally, Truist Financial reduced their price target on Matador Resources from $86.00 to $75.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $74.92.

Insider Buying and Selling

In related news, CEO Joseph Wm Foran acquired 2,500 shares of the stock in a transaction dated Monday, September 9th. The shares were purchased at an average cost of $49.97 per share, with a total value of $124,925.00. Following the transaction, the chief executive officer now directly owns 40,251 shares in the company, valued at approximately $2,011,342.47. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Director Robert Gaines Baty bought 500 shares of the business’s stock in a transaction dated Friday, September 13th. The shares were purchased at an average price of $50.58 per share, with a total value of $25,290.00. Following the transaction, the director now owns 67,617 shares in the company, valued at $3,420,067.86. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Joseph Wm Foran purchased 2,500 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The shares were purchased at an average price of $49.97 per share, for a total transaction of $124,925.00. Following the completion of the acquisition, the chief executive officer now directly owns 40,251 shares in the company, valued at $2,011,342.47. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 10,105 shares of company stock valued at $510,976. 6.10% of the stock is owned by company insiders.

Matador Resources Price Performance

Shares of MTDR opened at $52.09 on Friday. The firm has a fifty day simple moving average of $52.42 and a two-hundred day simple moving average of $57.74. The firm has a market cap of $6.50 billion, a PE ratio of 6.90 and a beta of 3.26. The company has a current ratio of 0.88, a quick ratio of 0.84 and a debt-to-equity ratio of 0.71. Matador Resources has a 1-year low of $47.15 and a 1-year high of $71.08.

Matador Resources (NYSE:MTDR) last announced its earnings results on Tuesday, October 22nd. The energy company reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.78 by $0.11. The business had revenue of $770.20 million for the quarter, compared to analysts’ expectations of $836.69 million. Matador Resources had a return on equity of 20.01% and a net margin of 27.45%. The business’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same period last year, the firm posted $1.86 earnings per share. On average, equities analysts anticipate that Matador Resources will post 7.45 EPS for the current year.

Matador Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 15th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.92%. 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 dividend payout ratio is 10.60%.

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.