17,416 Shares in Matador Resources (NYSE:MTDR) Acquired by Millrace Asset Group Inc.

Millrace Asset Group Inc. purchased a new stake in Matador Resources (NYSE:MTDR) in the 3rd quarter, according to its most recent filing with the SEC. The fund purchased 17,416 shares of the energy company’s stock, valued at approximately $861,000.

Other large investors also recently made changes to their positions in the company. Securian Asset Management Inc. grew its holdings in Matador Resources by 1.9% in the second quarter. Securian Asset Management Inc. now owns 9,255 shares of the energy company’s stock valued at $552,000 after purchasing an additional 170 shares during the period. Raymond James Trust N.A. boosted its holdings in shares of Matador Resources by 3.6% in the 2nd 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 last quarter. Fifth Third Bancorp grew its stake in shares of Matador Resources by 16.6% during the 2nd quarter. Fifth Third Bancorp now owns 1,709 shares of the energy company’s stock valued at $102,000 after buying an additional 243 shares during the period. Quarry LP increased its holdings in shares of 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 last quarter. Finally, Greenleaf Trust raised 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 worth $350,000 after buying an additional 260 shares during the period. Hedge funds and other institutional investors own 91.98% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on MTDR. Truist Financial cut 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. Royal Bank of Canada restated an “outperform” rating and set a $70.00 target price on shares of Matador Resources in a report on Thursday, October 24th. Stephens increased their price target on Matador Resources from $76.00 to $78.00 and gave the company an “overweight” rating in a report on Monday, October 21st. BMO Capital Markets boosted 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. Finally, Mizuho lowered their target price on Matador Resources from $85.00 to $74.00 and set an “outperform” rating for the company in a research note on Monday, September 16th. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $74.92.

Insider Activity at Matador Resources

In related news, EVP Bryan A. Erman bought 1,000 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The stock was purchased at an average price of $50.35 per share, for a total transaction of $50,350.00. Following the transaction, the executive vice president now directly owns 2,750 shares of the company’s stock, valued at approximately $138,462.50. This represents a 57.14 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert Gaines Baty purchased 500 shares of Matador Resources stock in a transaction dated Friday, September 13th. The stock was bought at an average cost of $50.58 per share, with a total value of $25,290.00. Following the completion of the purchase, the director now 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 disclosure for this purchase can be found here. Insiders purchased 11,105 shares of company stock worth $562,306 in the last 90 days. 6.10% of the stock is currently owned by company insiders.

Matador Resources Stock Performance

Shares of MTDR opened at $59.19 on Tuesday. Matador Resources has a 52-week low of $47.15 and a 52-week high of $71.08. The company has a quick ratio of 0.84, a current ratio of 0.88 and a debt-to-equity ratio of 0.71. The firm has a market cap of $7.39 billion, a price-to-earnings ratio of 7.84 and a beta of 3.26. The business’s 50 day moving average is $53.66 and its two-hundred day moving average is $56.71.

Matador Resources (NYSE:MTDR) last announced its quarterly earnings data on Tuesday, October 22nd. The energy company reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.78 by $0.11. The firm 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%. Matador Resources’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.86 earnings per share. Analysts forecast that Matador Resources will post 7.5 EPS 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. Investors of record on Friday, November 15th will be issued a $0.25 dividend. This is an increase from Matador Resources’s previous quarterly dividend of $0.20. The ex-dividend date is Friday, November 15th. This represents a $1.00 annualized dividend and a dividend yield of 1.69%. Matador Resources’s dividend payout ratio (DPR) 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.