Quest Partners LLC Makes New Investment in Matador Resources (NYSE:MTDR)

Quest Partners LLC purchased a new stake in shares of Matador Resources (NYSE:MTDR) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 26,017 shares of the energy company’s stock, valued at approximately $1,286,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Thrivent Financial for Lutherans boosted its stake in Matador Resources by 0.5% during the 3rd quarter. Thrivent Financial for Lutherans now owns 984,223 shares of the energy company’s stock valued at $48,641,000 after purchasing an additional 4,572 shares during the period. Royce & Associates LP grew its position in Matador Resources by 21.3% in the 3rd quarter. Royce & Associates LP now owns 357,563 shares of the energy company’s stock worth $17,671,000 after purchasing an additional 62,784 shares during the last quarter. Lummis Asset Management LP grew its position in Matador Resources by 24.7% in the 3rd quarter. Lummis Asset Management LP now owns 191,102 shares of the energy company’s stock worth $9,444,000 after purchasing an additional 37,893 shares during the last quarter. KBC Group NV grew its position in Matador Resources by 14.5% in the 3rd quarter. KBC Group NV now owns 3,453 shares of the energy company’s stock worth $171,000 after purchasing an additional 436 shares during the last quarter. Finally, Victory Capital Management Inc. grew its position in Matador Resources by 2.7% in the 3rd quarter. Victory Capital Management Inc. now owns 2,752,102 shares of the energy company’s stock worth $136,009,000 after purchasing an additional 72,077 shares during the last quarter. Institutional investors and hedge funds own 91.98% of the company’s stock.

Insider Activity

In related news, EVP Bryan A. Erman purchased 1,000 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was bought at an average price of $50.35 per share, for a total transaction of $50,350.00. Following the purchase, the executive vice president now owns 2,750 shares in the company, valued at $138,462.50. The trade was a 57.14 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Brian J. Willey acquired 1,500 shares of the business’s stock in a transaction that occurred 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 purchase, the chief financial officer now directly owns 1,500 shares in the company, valued at $75,750. This represents a ∞ increase in their position. 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. 6.10% of the stock is owned by insiders.

Matador Resources Price Performance

Shares of MTDR opened at $57.78 on Wednesday. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.88 and a quick ratio of 0.84. The company has a market capitalization of $7.21 billion, a price-to-earnings ratio of 7.65 and a beta of 3.26. The business’s 50-day moving average is $52.85 and its 200-day moving average is $56.84. 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 earnings results on Tuesday, October 22nd. The energy company reported $1.89 earnings per share (EPS) for the quarter, beating 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 quarter last year, the business posted $1.86 EPS. The company’s revenue for the quarter was up 9.8% on a year-over-year basis. Equities research analysts expect that Matador Resources will post 7.5 EPS for the current fiscal year.

Matador Resources Increases Dividend

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

Wall Street Analyst Weigh In

MTDR has been the topic of a number of recent analyst reports. Mizuho cut their price objective on shares of Matador Resources from $85.00 to $74.00 and set an “outperform” rating on the stock in a research note on Monday, September 16th. KeyCorp cut their price objective 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. JPMorgan Chase & Co. decreased their price target on Matador Resources from $77.00 to $71.00 and set an “overweight” rating for the company in a research note on Wednesday, October 30th. Wells Fargo & Company decreased their price target on Matador Resources from $89.00 to $87.00 and set an “overweight” rating for the company in a research note on Tuesday, October 1st. Finally, Truist Financial decreased their price target on Matador Resources from $86.00 to $75.00 and set a “buy” rating for the company in a research note on Monday, September 30th. Two investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $74.92.

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.