Matador Resources (NYSE:MTDR) Shares Bought by Algert Global LLC

Algert Global LLC grew its position in shares of Matador Resources (NYSE:MTDR) by 1,150.4% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 149,316 shares of the energy company’s stock after purchasing an additional 137,375 shares during the quarter. Algert Global LLC’s holdings in Matador Resources were worth $7,379,000 as of its most recent filing with the SEC.

Several other institutional investors have also bought and sold shares of MTDR. Boston Trust Walden Corp bought a new stake in Matador Resources in the third quarter worth about $51,788,000. Dimensional Fund Advisors LP raised its holdings in 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 worth $282,196,000 after buying an additional 356,506 shares during the period. Los Angeles Capital Management LLC acquired a new stake in Matador Resources during the 2nd quarter worth about $18,747,000. Yaupon Capital Management LP acquired a new stake in Matador Resources during the 1st quarter worth about $17,874,000. Finally, Clearbridge Investments LLC boosted its position in shares of 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 buying an additional 214,334 shares during the period. Institutional investors and hedge funds own 91.98% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Glenn W. Stetson bought 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The stock was acquired at an average price of $51.33 per share, for a total transaction of $51,330.00. Following the transaction, the executive vice president now directly owns 85,935 shares of the company’s stock, valued at $4,411,043.55. This represents a 1.18 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Robert T. Macalik purchased 500 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The shares were acquired at an average cost of $50.25 per share, with a total value of $25,125.00. Following the completion of the acquisition, the chief accounting officer now directly owns 29,800 shares in the company, valued at approximately $1,497,450. This represents a 1.71 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders bought 11,105 shares of company stock worth $562,306. 6.10% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on MTDR. Wells Fargo & Company lowered their target price on Matador Resources from $89.00 to $87.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 1st. KeyCorp dropped their target price on Matador Resources from $76.00 to $72.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 16th. Mizuho dropped their target price on Matador Resources from $85.00 to $74.00 and set an “outperform” rating on the stock in a research report on Monday, September 16th. Benchmark reaffirmed a “buy” rating and issued a $62.00 target price on shares of Matador Resources in a research report on Wednesday, October 23rd. Finally, Stephens upped their target price on Matador Resources from $76.00 to $78.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $74.92.

Matador Resources Price Performance

Shares of MTDR stock opened at $60.91 on Friday. The stock has a 50 day moving average of $53.48 and a two-hundred day moving average of $56.81. 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 12 month low of $47.15 and a 12 month high of $71.08. The company has a market capitalization of $7.60 billion, a P/E ratio of 8.07 and a beta of 3.26.

Matador Resources (NYSE:MTDR) last announced its quarterly earnings data on Tuesday, October 22nd. The energy company reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.78 by $0.11. Matador Resources had a return on equity of 20.01% and a net margin of 27.45%. The company had revenue of $770.20 million during the quarter, compared to the consensus estimate of $836.69 million. During the same quarter last year, the company earned $1.86 EPS. The company’s quarterly revenue was up 9.8% on a year-over-year basis. As a group, equities analysts expect that Matador Resources will post 7.5 EPS for the current year.

Matador Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 15th will be given a $0.25 dividend. The ex-dividend date is Friday, November 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.64%. This is an increase from Matador Resources’s previous quarterly dividend of $0.20. Matador Resources’s dividend payout ratio (DPR) is currently 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.