Los Angeles Capital Management LLC Sells 293,614 Shares of Matador Resources (NYSE:MTDR)

Los Angeles Capital Management LLC reduced its stake in Matador Resources (NYSE:MTDR) by 93.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,925 shares of the energy company’s stock after selling 293,614 shares during the period. Los Angeles Capital Management LLC’s holdings in Matador Resources were worth $1,034,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of MTDR. Boston Trust Walden Corp bought a new position in shares of Matador Resources in the 3rd quarter worth approximately $51,788,000. Dimensional Fund Advisors LP raised its holdings in Matador Resources by 8.1% in the second quarter. Dimensional Fund Advisors LP now owns 4,734,819 shares of the energy company’s stock worth $282,196,000 after purchasing an additional 356,506 shares in the last quarter. Yaupon Capital Management LP purchased a new position in Matador Resources during the first quarter valued at $17,874,000. Clearbridge Investments LLC boosted its holdings in shares of Matador Resources by 11.8% during the 1st quarter. Clearbridge Investments LLC now owns 2,035,702 shares of the energy company’s stock valued at $135,924,000 after buying an additional 215,298 shares in the last quarter. Finally, AQR Capital Management LLC grew its position in shares of Matador Resources by 157.0% in the 2nd quarter. AQR Capital Management LLC now owns 334,646 shares of the energy company’s stock worth $19,945,000 after buying an additional 204,420 shares during the period. 91.98% of the stock is currently owned by hedge funds and other institutional investors.

Matador Resources Price Performance

NYSE MTDR opened at $58.99 on Friday. 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 company has a market capitalization of $7.36 billion, a price-to-earnings ratio of 7.81 and a beta of 3.26. The stock has a 50-day moving average of $52.36 and a 200 day moving average of $57.03. Matador Resources has a one year low of $47.15 and a one year high of $71.08.

Matador Resources (NYSE:MTDR) last released its quarterly earnings data on Tuesday, October 22nd. The energy company reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.78 by $0.11. The firm 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% on a year-over-year basis. During the same period in the previous year, the company earned $1.86 earnings per share. On average, sell-side analysts forecast that Matador Resources will post 7.5 EPS for the current year.

Matador Resources Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 15th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.70%. This is a boost from Matador Resources’s previous quarterly dividend of $0.20. The ex-dividend date is Friday, November 15th. Matador Resources’s dividend payout ratio is presently 10.60%.

Insider Transactions at Matador Resources

In other Matador Resources news, CAO Robert T. Macalik purchased 500 shares of Matador Resources stock in a transaction dated Friday, September 6th. The stock was purchased at an average price of $50.25 per share, with a total value of $25,125.00. Following the transaction, the chief accounting officer now directly owns 29,800 shares of the company’s stock, valued at $1,497,450. This trade represents a 1.71 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Glenn W. Stetson acquired 1,000 shares of the stock in a transaction dated Wednesday, October 30th. The stock was acquired at an average price of $51.33 per share, for a total transaction of $51,330.00. Following the purchase, the executive vice president now directly owns 85,935 shares in the company, valued at approximately $4,411,043.55. This trade represents a 1.18 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought a total of 11,105 shares of company stock worth $562,306 in the last ninety days. Insiders own 6.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Stephens lifted their price target on shares of Matador Resources from $76.00 to $78.00 and gave the company an “overweight” rating in a research report on Monday, October 21st. TD Cowen lifted their target price on shares of Matador Resources from $85.00 to $87.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Wolfe Research assumed coverage on Matador Resources in a research note on Thursday, July 18th. They issued a “peer perform” rating on the stock. Wells Fargo & Company lowered their price objective on Matador Resources from $89.00 to $87.00 and set an “overweight” rating for the company in a research note on Tuesday, October 1st. Finally, BMO Capital Markets boosted their target price on Matador Resources from $75.00 to $78.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. Two investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $74.92.

About Matador Resources

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.