Farther Finance Advisors LLC Cuts Stock Position in Matador Resources (NYSE:MTDR)

Farther Finance Advisors LLC cut its stake in Matador Resources (NYSE:MTDR) by 30.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 650 shares of the energy company’s stock after selling 282 shares during the period. Farther Finance Advisors LLC’s holdings in Matador Resources were worth $32,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC purchased a new position in shares of Matador Resources during the first quarter worth about $828,000. Prevail Innovative Wealth Advisors LLC boosted its position in shares of 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 worth $2,481,000 after acquiring an additional 8,254 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in 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 valued at $73,768,000 after acquiring an additional 53,322 shares during the period. Vanguard Group Inc. increased its position in Matador Resources by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 11,124,705 shares of the energy company’s stock worth $742,797,000 after purchasing an additional 103,713 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale lifted its holdings in shares of Matador Resources by 304.1% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 13,288 shares of the energy company’s stock valued at $863,000 after acquiring an additional 10,000 shares in the last quarter. Institutional investors and hedge funds own 91.98% of the company’s stock.

Matador Resources Stock Up 1.7 %

MTDR opened at $58.99 on Friday. Matador Resources has a twelve month low of $47.15 and a twelve month high of $71.08. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.84 and a current ratio of 0.88. The business has a 50 day moving average price of $52.36 and a 200 day moving average price of $57.03. The firm has a market cap of $7.36 billion, a P/E ratio of 7.81 and a beta of 3.26.

Matador Resources (NYSE:MTDR) last released its earnings results on Tuesday, October 22nd. The energy company reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.78 by $0.11. Matador Resources had a return on equity of 20.01% and a net margin of 27.45%. The firm had revenue of $770.20 million for the quarter, compared to analyst estimates of $836.69 million. During the same quarter last year, the firm posted $1.86 EPS. The company’s revenue was up 9.8% on a year-over-year basis. Research analysts forecast that Matador Resources will post 7.5 EPS for the current year.

Matador Resources Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 15th will be given a $0.25 dividend. This is a boost from Matador Resources’s previous quarterly dividend of $0.20. This represents a $1.00 annualized dividend and a yield of 1.70%. The ex-dividend date is Friday, November 15th. Matador Resources’s dividend payout ratio (DPR) is 10.60%.

Insider Activity at Matador Resources

In other Matador Resources news, EVP Glenn W. Stetson bought 1,000 shares of the firm’s stock in a transaction dated Wednesday, October 30th. The shares were bought at an average price of $51.33 per share, for a total transaction of $51,330.00. Following the completion of the acquisition, the executive vice president now owns 85,935 shares of the company’s stock, valued at approximately $4,411,043.55. This trade represents a 1.18 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Robert Gaines Baty purchased 500 shares of the firm’s stock in a transaction dated Friday, September 13th. The shares were bought at an average cost of $50.58 per share, for a total transaction of $25,290.00. Following the completion of the purchase, the director now directly owns 67,617 shares of the company’s stock, valued at $3,420,067.86. The trade was a 0.74 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired a total of 11,105 shares of company stock valued at $562,306 over the last quarter. 6.10% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on MTDR. 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 note on Wednesday, October 16th. Truist Financial reduced their target price on shares of Matador Resources from $86.00 to $75.00 and set a “buy” rating for the company in a research note on Monday, September 30th. BMO Capital Markets increased their price objective on shares of Matador Resources from $75.00 to $78.00 and gave the company an “outperform” rating in a report on Friday, October 4th. Royal Bank of Canada reissued an “outperform” rating and set a $70.00 target price on shares of Matador Resources in a research note on Thursday, October 24th. Finally, Wolfe Research started coverage on shares of Matador Resources in a research report on Thursday, July 18th. They issued a “peer perform” rating for the company. Two equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, Matador Resources presently has a consensus rating of “Moderate Buy” and an average price target of $74.92.

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.