King Luther Capital Management Corp Grows Stake in Matador Resources (NYSE:MTDR)

King Luther Capital Management Corp increased its position in Matador Resources (NYSE:MTDR) by 180.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 11,208 shares of the energy company’s stock after acquiring an additional 7,208 shares during the period. King Luther Capital Management Corp’s holdings in Matador Resources were worth $554,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Dimensional Fund Advisors LP grew its stake in shares of Matador Resources by 8.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,734,819 shares of the energy company’s stock valued at $282,196,000 after purchasing an additional 356,506 shares during the period. Victory Capital Management Inc. increased its holdings in Matador Resources by 2.7% during the third quarter. Victory Capital Management Inc. now owns 2,752,102 shares of the energy company’s stock valued at $136,009,000 after buying an additional 72,077 shares during the last quarter. Clearbridge Investments LLC raised its position in Matador Resources by 10.5% in the second quarter. Clearbridge Investments LLC now owns 2,250,036 shares of the energy company’s stock worth $134,102,000 after acquiring an additional 214,334 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in shares of Matador Resources by 5.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,104,791 shares of the energy company’s stock worth $73,768,000 after acquiring an additional 53,322 shares during the last quarter. Finally, Boston Trust Walden Corp purchased a new stake in shares of Matador Resources in the 3rd quarter worth $51,788,000. Hedge funds and other institutional investors own 91.98% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on MTDR shares. BMO Capital Markets lifted their target price on Matador Resources from $75.00 to $78.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. Wells Fargo & Company decreased their target price on shares of Matador Resources from $89.00 to $87.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 1st. Royal Bank of Canada reiterated an “outperform” rating and issued a $70.00 price target on shares of Matador Resources in a research report on Thursday, October 24th. Benchmark restated a “buy” rating and set a $62.00 price objective on shares of Matador Resources in a research report on Wednesday, October 23rd. Finally, Truist Financial dropped their target price on shares of Matador Resources from $86.00 to $75.00 and set a “buy” rating for the company in a report on Monday, September 30th. 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, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $74.92.

Insider Buying and Selling

In other news, CEO Joseph Wm Foran bought 2,500 shares of the stock in a transaction dated Monday, September 9th. The stock was purchased at an average price of $49.97 per share, for a total transaction of $124,925.00. Following the acquisition, the chief executive officer now owns 40,251 shares of the company’s stock, valued at $2,011,342.47. The trade was a 6.62 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Glenn W. Stetson purchased 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The shares were purchased at an average price of $51.33 per share, for a total transaction of $51,330.00. Following the completion of the acquisition, the executive vice president now directly owns 85,935 shares in the company, valued at $4,411,043.55. The trade was a 1.18 % increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 11,105 shares of company stock worth $562,306. Corporate insiders own 6.10% of the company’s stock.

Matador Resources Stock Performance

NYSE:MTDR opened at $60.91 on Friday. The company has a market cap of $7.60 billion, a price-to-earnings ratio of 8.07 and a beta of 3.26. Matador Resources has a 1 year low of $47.15 and a 1 year high of $71.08. The stock’s 50 day simple moving average is $53.48 and its two-hundred day simple moving average is $56.81. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.88 and a quick ratio of 0.84.

Matador Resources (NYSE:MTDR) last announced its quarterly earnings results on Tuesday, October 22nd. The energy company reported $1.89 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $836.69 million. During the same quarter in the previous year, the business posted $1.86 earnings per share. Matador Resources’s quarterly revenue was up 9.8% on a year-over-year basis. As a group, equities analysts anticipate that Matador Resources will post 7.5 earnings per share for the current fiscal year.

Matador Resources Increases Dividend

The firm 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 of this dividend is Friday, November 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.64%. Matador Resources’s dividend payout ratio (DPR) 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.