Point72 Hong Kong Ltd Acquires Shares of 46,919 Matador Resources (NYSE:MTDR)

Point72 Hong Kong Ltd bought a new position in shares of Matador Resources (NYSE:MTDR) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 46,919 shares of the energy company’s stock, valued at approximately $2,319,000.

Several other hedge funds and other institutional investors also recently modified their holdings of MTDR. Tidal Investments LLC grew its holdings in shares of Matador Resources by 21.2% during the 1st quarter. Tidal Investments LLC now owns 4,583 shares of the energy company’s stock valued at $306,000 after purchasing an additional 802 shares during the last quarter. Virtu Financial LLC acquired a new stake in shares of Matador Resources during the 1st quarter valued at $200,000. DekaBank Deutsche Girozentrale grew its position in Matador Resources by 304.1% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 13,288 shares of the energy company’s stock worth $863,000 after acquiring an additional 10,000 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in Matador Resources by 38.6% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,451 shares of the energy company’s stock worth $90,000 after purchasing an additional 404 shares in the last quarter. Finally, First Hawaiian Bank increased its holdings in Matador Resources by 2.5% in the 2nd quarter. First Hawaiian Bank now owns 11,769 shares of the energy company’s stock worth $701,000 after purchasing an additional 283 shares in the last quarter. Institutional investors own 91.98% of the company’s stock.

Insider Activity at Matador Resources

In related news, CEO Joseph Wm Foran purchased 2,500 shares of the business’s stock in a transaction dated Monday, September 9th. The stock was purchased at an average cost of $49.97 per share, with a total value of $124,925.00. Following the completion of the acquisition, the chief executive officer now directly owns 40,251 shares of the company’s stock, valued at approximately $2,011,342.47. The trade was a 6.62 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Bryan A. Erman bought 1,000 shares of the business’s stock in a transaction on Friday, September 6th. The stock was bought at an average price of $50.35 per share, with a total value of $50,350.00. Following the purchase, the executive vice president now owns 2,750 shares in the company, valued at $138,462.50. This trade represents a 57.14 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 11,105 shares of company stock worth $562,306. Insiders own 6.10% of the company’s stock.

Analysts Set New Price Targets

MTDR has been the topic of several research reports. 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 report on Monday, September 30th. Royal Bank of Canada reiterated an “outperform” rating and set a $70.00 price target on shares of Matador Resources in a report on Thursday, October 24th. Mizuho decreased their price objective on Matador Resources from $85.00 to $74.00 and set an “outperform” rating for the company in a report on Monday, September 16th. KeyCorp lowered their price objective on Matador Resources from $76.00 to $72.00 and set an “overweight” rating for the company in a research report on Wednesday, October 16th. Finally, Benchmark reiterated a “buy” rating and issued a $62.00 target price on shares of Matador Resources in a report on Wednesday, October 23rd. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $74.92.

Matador Resources Stock Performance

NYSE MTDR opened at $60.01 on Monday. The company has a market cap of $7.49 billion, a P/E ratio of 7.95 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 12-month low of $47.15 and a 12-month high of $71.08. The company has a fifty day simple moving average of $54.25 and a 200 day simple moving average of $56.65.

Matador Resources (NYSE:MTDR) last posted its quarterly earnings data on Tuesday, October 22nd. The energy company reported $1.89 EPS for the quarter, beating the consensus estimate of $1.78 by $0.11. The firm had revenue of $770.20 million during the quarter, compared to analyst estimates of $836.69 million. Matador Resources had a net margin of 27.45% and a return on equity of 20.01%. The company’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same quarter last year, the business posted $1.86 EPS. Sell-side analysts predict that Matador Resources will post 7.5 earnings per share 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 represents a $1.00 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date is Friday, November 15th. This is a boost from Matador Resources’s previous quarterly dividend of $0.20. Matador Resources’s payout ratio 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.