Cornerstone Wealth Management LLC Cuts Stock Position in Matador Resources (NYSE:MTDR)

Cornerstone Wealth Management LLC cut its holdings in shares of Matador Resources (NYSE:MTDR) by 8.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,100 shares of the energy company’s stock after selling 500 shares during the quarter. Cornerstone Wealth Management LLC’s holdings in Matador Resources were worth $252,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Denver PWM LLC bought a new position in Matador Resources during the second quarter valued at about $27,000. Covestor Ltd grew its position in shares of Matador Resources by 121.4% during the 1st quarter. Covestor Ltd now owns 414 shares of the energy company’s stock valued at $28,000 after acquiring an additional 227 shares during the period. Quarry LP increased its stake in shares of 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 last quarter. Advisors Asset Management Inc. raised its holdings in shares of Matador Resources by 191.8% in 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. Finally, GAMMA Investing LLC grew its holdings in Matador Resources by 28.7% during the third quarter. GAMMA Investing LLC now owns 1,403 shares of the energy company’s stock valued at $69,000 after purchasing an additional 313 shares during the period. 91.98% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Matador Resources

In related news, CAO Robert T. Macalik acquired 500 shares of the stock in a transaction dated Friday, August 2nd. The shares were purchased at an average price of $54.50 per share, for a total transaction of $27,250.00. Following the transaction, the chief accounting officer now owns 29,300 shares in the company, valued at $1,596,850. This represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CEO Joseph Wm Foran bought 2,000 shares of the business’s stock in a transaction on Friday, August 2nd. The stock was acquired at an average price of $55.96 per share, with a total value of $111,920.00. Following the completion of the purchase, the chief executive officer now directly owns 35,251 shares in the company, valued at $1,972,645.96. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CAO Robert T. Macalik purchased 500 shares of Matador Resources stock in a transaction on Friday, August 2nd. The shares were acquired at an average price of $54.50 per share, for a total transaction of $27,250.00. Following the completion of the transaction, the chief accounting officer now directly owns 29,300 shares of the company’s stock, valued at approximately $1,596,850. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased a total of 12,300 shares of company stock worth $634,615 over the last three months. 6.10% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

MTDR has been the topic of a number of recent research reports. Wolfe Research started coverage on Matador Resources in a research report on Thursday, July 18th. They set a “peer perform” rating on the stock. Capital One Financial raised shares of Matador Resources from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $80.00 to $84.00 in a report on Thursday, July 25th. TD Cowen lifted their target price on shares of Matador Resources from $85.00 to $87.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. KeyCorp lowered 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 report on Wednesday. Finally, Stephens raised their price objective on shares of Matador Resources from $74.00 to $76.00 and gave the stock an “overweight” rating in a report on Friday, September 27th. Two investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, Matador Resources presently has a consensus rating of “Moderate Buy” and an average target price of $75.54.

Matador Resources Trading Down 1.8 %

Matador Resources stock opened at $51.54 on Friday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.82 and a current ratio of 0.86. Matador Resources has a fifty-two week low of $47.15 and a fifty-two week high of $71.08. The stock has a market cap of $6.43 billion, a P/E ratio of 7.06 and a beta of 3.26. The firm’s fifty day moving average price is $53.24 and its 200-day moving average price is $58.80.

Matador Resources (NYSE:MTDR) last posted its earnings results on Tuesday, July 23rd. The energy company reported $2.05 EPS for the quarter, topping the consensus estimate of $1.76 by $0.29. Matador Resources had a return on equity of 21.12% and a net margin of 29.01%. The business had revenue of $847.14 million during the quarter, compared to analysts’ expectations of $822.55 million. During the same period in the previous year, the business earned $1.42 earnings per share. The firm’s revenue was up 32.8% on a year-over-year basis. Equities research analysts forecast that Matador Resources will post 7.4 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. Investors of record on Friday, November 15th will be paid a $0.25 dividend. This is an increase from Matador Resources’s previous quarterly dividend of $0.20. This represents a $1.00 dividend on an annualized basis and a yield of 1.94%. The ex-dividend date of this dividend is Friday, November 15th. Matador Resources’s dividend payout ratio (DPR) is currently 13.70%.

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.