Massachusetts Financial Services Co. MA Reduces Position in Matador Resources (NYSE:MTDR)

Massachusetts Financial Services Co. MA lowered its position in Matador Resources (NYSE:MTDR) by 11.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,410,999 shares of the energy company’s stock after selling 173,665 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 1.13% of Matador Resources worth $69,732,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of MTDR. Advisors Asset Management Inc. boosted its stake 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 period. Price T Rowe Associates Inc. MD grew its holdings in shares of Matador Resources by 5.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,104,791 shares of the energy company’s stock worth $73,768,000 after buying an additional 53,322 shares during the last quarter. Paloma Partners Management Co acquired a new position in Matador Resources in the 1st quarter valued at about $245,000. Janus Henderson Group PLC raised its stake in Matador Resources by 54.9% during the 1st quarter. Janus Henderson Group PLC now owns 123,742 shares of the energy company’s stock valued at $8,259,000 after acquiring an additional 43,860 shares during the last quarter. Finally, Tidal Investments LLC lifted its position in Matador Resources by 21.2% during the 1st quarter. Tidal Investments LLC now owns 4,583 shares of the energy company’s stock worth $306,000 after acquiring an additional 802 shares during the period. 91.98% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MTDR has been the subject of several analyst reports. Royal Bank of Canada restated an “outperform” rating and set a $70.00 price target on shares of Matador Resources in a research note on Thursday, October 24th. Mizuho reduced their target price on shares of Matador Resources from $85.00 to $74.00 and set an “outperform” rating for the company in a research note on Monday, September 16th. KeyCorp dropped their price target on shares of Matador Resources from $76.00 to $72.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 16th. Benchmark restated a “buy” rating and issued a $62.00 price objective on shares of Matador Resources in a research report on Wednesday, October 23rd. Finally, Wells Fargo & Company dropped their target price on Matador Resources from $89.00 to $87.00 and set an “overweight” rating on the stock in a research report 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’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $74.92.

Insiders Place Their Bets

In other news, EVP Glenn W. Stetson purchased 1,000 shares of the stock in a transaction dated Wednesday, October 30th. The stock was acquired at an average cost 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. This represents a 1.18 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Robert T. Macalik acquired 500 shares of the business’s stock in a transaction dated Friday, September 6th. The stock was purchased at an average cost of $50.25 per share, with a total value of $25,125.00. Following the transaction, the chief accounting officer now owns 29,800 shares of the company’s stock, valued at approximately $1,497,450. The trade was a 1.71 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 11,105 shares of company stock valued at $562,306. Corporate insiders own 6.10% of the company’s stock.

Matador Resources Trading Up 1.2 %

Shares of MTDR stock opened at $60.91 on Monday. The stock has a market cap of $7.60 billion, a P/E ratio of 8.07 and a beta of 3.26. The company has a quick ratio of 0.84, a current ratio of 0.88 and a debt-to-equity ratio of 0.71. Matador Resources has a fifty-two week low of $47.15 and a fifty-two week high of $71.08. The business has a fifty day simple moving average of $53.48 and a 200-day simple moving average of $56.75.

Matador Resources (NYSE:MTDR) last announced its earnings results on Tuesday, October 22nd. The energy company reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.78 by $0.11. The company had revenue of $770.20 million during the quarter, compared to analysts’ expectations of $836.69 million. Matador Resources had a net margin of 27.45% and a return on equity of 20.01%. The firm’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.86 earnings per share. On average, 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 announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 15th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.64%. The ex-dividend date of this dividend is Friday, November 15th. This is a boost from Matador Resources’s previous quarterly dividend of $0.20. Matador Resources’s dividend 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.