Dynamic Technology Lab Private Ltd Boosts Stake in Matador Resources (NYSE:MTDR)

Dynamic Technology Lab Private Ltd increased its position in shares of Matador Resources (NYSE:MTDR) by 194.0% during the third quarter, HoldingsChannel reports. The institutional investor owned 16,534 shares of the energy company’s stock after buying an additional 10,910 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in Matador Resources were worth $817,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in the company. Denver PWM LLC purchased a new position in shares of Matador Resources during the second quarter worth approximately $27,000. Avior Wealth Management LLC raised its position in Matador Resources by 329.0% in the 3rd quarter. Avior Wealth Management LLC now owns 828 shares of the energy company’s stock valued at $41,000 after purchasing an additional 635 shares during the last quarter. Quarry LP boosted its stake in Matador Resources by 47.5% during the 2nd quarter. Quarry LP now owns 779 shares of the energy company’s stock worth $46,000 after purchasing an additional 251 shares during the period. Advisors Asset Management Inc. grew its position in Matador Resources by 191.8% during the 1st quarter. Advisors Asset Management Inc. now owns 709 shares of the energy company’s stock worth $47,000 after purchasing an additional 466 shares during the last quarter. Finally, Covestor Ltd increased its stake in Matador Resources by 154.8% in the third quarter. Covestor Ltd now owns 1,060 shares of the energy company’s stock valued at $52,000 after purchasing an additional 644 shares during the period. Institutional investors and hedge funds own 91.98% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on MTDR. Royal Bank of Canada reissued an “outperform” rating and set a $70.00 price target on shares of Matador Resources in a report on Thursday, October 24th. KeyCorp lowered their target price on Matador Resources from $76.00 to $72.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 16th. Mizuho cut their price target on Matador Resources from $85.00 to $74.00 and set an “outperform” rating for the company in a research note on Monday, September 16th. Truist Financial lowered their price objective on shares of Matador Resources from $86.00 to $75.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. Finally, Wells Fargo & Company reduced their target price on shares of Matador Resources from $89.00 to $87.00 and set an “overweight” rating for the company in a research note on Tuesday, October 1st. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $74.92.

Insider Activity at Matador Resources

In other news, CEO Joseph Wm Foran bought 2,500 shares of the stock in a transaction on Friday, September 6th. The stock was purchased at an average cost of $51.47 per share, with a total value of $128,675.00. Following the purchase, the chief executive officer now owns 37,751 shares of the company’s stock, valued at approximately $1,943,043.97. The trade was a 7.09 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, EVP Glenn W. Stetson purchased 1,000 shares of the business’s stock in a transaction on Wednesday, October 30th. The stock was acquired at an average price of $51.33 per share, with a total value 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. Insiders have purchased a total of 11,105 shares of company stock valued at $562,306 over the last quarter. Insiders own 6.10% of the company’s stock.

Matador Resources Price Performance

Shares of NYSE MTDR opened at $59.54 on Thursday. The company has a current ratio of 0.88, a quick ratio of 0.84 and a debt-to-equity ratio of 0.71. The company’s 50-day moving average price is $53.79 and its 200 day moving average price is $56.68. Matador Resources has a 52 week low of $47.15 and a 52 week high of $71.08. The stock has a market cap of $7.43 billion, a price-to-earnings ratio of 7.82 and a beta of 3.26.

Matador Resources (NYSE:MTDR) last released its quarterly earnings results 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 business had revenue of $770.20 million for 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 quarterly revenue was up 9.8% on a year-over-year basis. During the same period in the prior year, the business earned $1.86 earnings per share. As a group, research analysts forecast that Matador Resources will post 7.5 earnings per share for the current fiscal year.

Matador Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 15th will be given a $0.25 dividend. This is an increase from Matador Resources’s previous quarterly dividend of $0.20. This represents a $1.00 annualized dividend and a dividend yield of 1.68%. The ex-dividend date is Friday, November 15th. Matador Resources’s dividend payout ratio is currently 13.25%.

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.