Matador Resources Company $MTDR Shares Sold by Beck Mack & Oliver LLC

Beck Mack & Oliver LLC reduced its position in Matador Resources Company (NYSE:MTDR) by 7.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,407,822 shares of the energy company’s stock after selling 107,106 shares during the quarter. Matador Resources comprises approximately 1.3% of Beck Mack & Oliver LLC’s portfolio, making the stock its 25th biggest position. Beck Mack & Oliver LLC owned approximately 1.13% of Matador Resources worth $67,181,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of MTDR. Dimensional Fund Advisors LP raised its position in Matador Resources by 0.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 5,464,857 shares of the energy company’s stock valued at $279,192,000 after purchasing an additional 20,134 shares during the last quarter. LSV Asset Management increased its stake in Matador Resources by 45.7% in the second quarter. LSV Asset Management now owns 3,334,775 shares of the energy company’s stock valued at $159,135,000 after purchasing an additional 1,045,396 shares during the period. Adage Capital Partners GP L.L.C. raised its holdings in shares of Matador Resources by 143.1% in the second quarter. Adage Capital Partners GP L.L.C. now owns 2,556,472 shares of the energy company’s stock valued at $121,995,000 after buying an additional 1,505,000 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of Matador Resources by 30.5% during the first quarter. Wellington Management Group LLP now owns 2,043,715 shares of the energy company’s stock worth $104,413,000 after buying an additional 477,236 shares during the period. Finally, AQR Capital Management LLC grew its holdings in shares of Matador Resources by 30.6% during the second quarter. AQR Capital Management LLC now owns 1,302,587 shares of the energy company’s stock worth $62,159,000 after buying an additional 305,352 shares during the last quarter. 91.98% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have commented on MTDR. William Blair started coverage on Matador Resources in a research note on Monday, August 25th. They set an “outperform” rating for the company. Mizuho upped their price target on Matador Resources from $67.00 to $70.00 and gave the stock an “outperform” rating in a research note on Friday. Citigroup initiated coverage on shares of Matador Resources in a research report on Monday, December 8th. They issued a “buy” rating and a $53.00 price objective on the stock. UBS Group raised their target price on shares of Matador Resources from $46.00 to $50.00 and gave the stock a “neutral” rating in a research note on Friday. Finally, Wells Fargo & Company dropped their price target on shares of Matador Resources from $71.00 to $61.00 and set an “overweight” rating on the stock in a research note on Friday, October 24th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Matador Resources has an average rating of “Moderate Buy” and an average price target of $63.33.

Insider Activity

In other news, EVP Robert T. Macalik purchased 1,500 shares of the business’s stock in a transaction dated Thursday, November 6th. The stock was acquired at an average price of $38.25 per share, with a total value of $57,375.00. Following the purchase, the executive vice president directly owned 35,039 shares of the company’s stock, valued at $1,340,241.75. This represents a 4.47% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Christopher P. Calvert acquired 2,500 shares of the stock in a transaction that occurred on Monday, November 3rd. The stock was acquired at an average cost of $39.44 per share, for a total transaction of $98,600.00. Following the completion of the purchase, the chief operating officer owned 40,000 shares in the company, valued at $1,577,600. The trade was a 6.67% increase in their position. The SEC filing for this purchase provides additional information. Insiders acquired a total of 37,346 shares of company stock valued at $1,463,396 in the last 90 days. Insiders own 5.80% of the company’s stock.

Matador Resources Stock Performance

NYSE:MTDR opened at $44.32 on Friday. The firm’s fifty day simple moving average is $41.85 and its 200-day simple moving average is $46.12. The company has a quick ratio of 0.69, a current ratio of 0.73 and a debt-to-equity ratio of 0.55. The stock has a market cap of $5.51 billion, a PE ratio of 7.08 and a beta of 1.11. Matador Resources Company has a fifty-two week low of $35.19 and a fifty-two week high of $64.04.

Matador Resources (NYSE:MTDR) last released its quarterly earnings data on Tuesday, October 21st. The energy company reported $1.36 EPS for the quarter, topping analysts’ consensus estimates of $1.22 by $0.14. Matador Resources had a net margin of 20.46% and a return on equity of 14.80%. The firm had revenue of $939.02 million for the quarter, compared to the consensus estimate of $893.22 million. During the same quarter in the previous year, the firm earned $1.89 earnings per share. The firm’s revenue was up 4.4% on a year-over-year basis. Analysts expect that Matador Resources Company will post 8.53 earnings per share for the current fiscal year.

Matador Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 5th. Investors of record on Monday, November 10th were paid a $0.375 dividend. This represents a $1.50 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend was Monday, November 10th. This is an increase from Matador Resources’s previous quarterly dividend of $0.31. Matador Resources’s dividend payout ratio (DPR) is 23.96%.

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.