Matador Resources (NYSE:MTDR) Shares Sold by Spring Capital Management LLC

Spring Capital Management LLC trimmed its position in shares of Matador Resources (NYSE:MTDR) by 62.5% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,827 shares of the energy company’s stock after selling 44,773 shares during the period. Matador Resources makes up about 1.0% of Spring Capital Management LLC’s holdings, making the stock its 22nd largest holding. Spring Capital Management LLC’s holdings in Matador Resources were worth $1,326,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC acquired a new stake in shares of Matador Resources in the first quarter valued at $828,000. Prevail Innovative Wealth Advisors LLC increased its holdings in Matador Resources by 28.6% in the first quarter. Prevail Innovative Wealth Advisors LLC now owns 37,163 shares of the energy company’s stock valued at $2,481,000 after buying an additional 8,254 shares during the last quarter. Capstone Investment Advisors LLC increased its holdings in Matador Resources by 1,029.1% in the first quarter. Capstone Investment Advisors LLC now owns 76,032 shares of the energy company’s stock valued at $5,077,000 after buying an additional 69,298 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Matador Resources by 5.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,104,791 shares of the energy company’s stock valued at $73,768,000 after buying an additional 53,322 shares during the last quarter. Finally, Vanguard Group Inc. increased its holdings in Matador Resources by 0.9% in the first quarter. Vanguard Group Inc. now owns 11,124,705 shares of the energy company’s stock valued at $742,797,000 after buying an additional 103,713 shares during the last quarter. 91.98% of the stock is currently owned by institutional investors and hedge funds.

Matador Resources Stock Performance

MTDR traded up $0.09 during trading on Wednesday, reaching $50.42. The company’s stock had a trading volume of 191,974 shares, compared to its average volume of 1,496,810. Matador Resources has a 52-week low of $47.15 and a 52-week high of $71.08. The company’s fifty day moving average price is $53.03 and its 200-day moving average price is $58.41. The company has a market capitalization of $6.29 billion, a price-to-earnings ratio of 6.89 and a beta of 3.26. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.82 and a current ratio of 0.86.

Matador Resources (NYSE:MTDR) last announced its quarterly earnings data on Tuesday, October 22nd. The energy company reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.78 by $0.11. Matador Resources had a return on equity of 21.12% and a net margin of 29.01%. The company had revenue of $770.20 million for the quarter, compared to analyst estimates of $836.69 million. During the same quarter in the previous year, the company earned $1.86 EPS. The firm’s revenue for the quarter was up 9.8% compared to the same quarter last year. On average, equities analysts forecast that Matador Resources will post 7.4 earnings per share for the current fiscal year.

Matador Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Shareholders 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 yield of 1.98%. The ex-dividend date is Friday, November 15th. This is a positive change from Matador Resources’s previous quarterly dividend of $0.20. Matador Resources’s payout ratio is currently 13.70%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on MTDR shares. Royal Bank of Canada reissued an “outperform” rating and issued a $75.00 target price on shares of Matador Resources in a report on Friday, September 27th. KeyCorp dropped their price objective on Matador Resources from $76.00 to $72.00 and set an “overweight” rating on the stock in a report on Wednesday, October 16th. TD Cowen raised their price objective on Matador Resources from $85.00 to $87.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Stephens raised their price objective on Matador Resources from $76.00 to $78.00 and gave the stock an “overweight” rating in a report on Monday. Finally, Wells Fargo & Company dropped their price objective on Matador Resources from $89.00 to $87.00 and set an “overweight” rating on the stock in a report on Tuesday, October 1st. Two equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $75.69.

Insider Transactions at Matador Resources

In other news, CFO Brian J. Willey purchased 1,500 shares of the firm’s stock in a transaction dated Friday, September 6th. The shares were acquired at an average price of $50.50 per share, with a total value of $75,750.00. Following the purchase, the chief financial officer now directly owns 1,500 shares of the company’s stock, valued at $75,750. The purchase was disclosed in a legal filing with the SEC, which is available through this link. In other news, CFO Brian J. Willey purchased 1,500 shares of the firm’s stock in a transaction dated Friday, September 6th. The shares were acquired at an average price of $50.50 per share, with a total value of $75,750.00. Following the purchase, the chief financial officer now directly owns 1,500 shares of the company’s stock, valued at $75,750. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Robert T. Macalik purchased 500 shares of the firm’s stock in a transaction dated Friday, August 2nd. The shares were purchased at an average cost of $54.50 per share, for a total transaction of $27,250.00. Following the purchase, the chief accounting officer now directly owns 29,300 shares in the company, valued at approximately $1,596,850. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought 12,300 shares of company stock valued at $634,615 in the last quarter. 6.10% of the stock is currently owned by corporate insiders.

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.