Blue Trust Inc. Sells 6,420 Shares of Matador Resources (NYSE:MTDR)

Blue Trust Inc. decreased its stake in shares of Matador Resources (NYSE:MTDR) by 79.5% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,655 shares of the energy company’s stock after selling 6,420 shares during the quarter. Blue Trust Inc.’s holdings in Matador Resources were worth $82,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. State of Michigan Retirement System raised its stake in Matador Resources by 2.3% during the first quarter. State of Michigan Retirement System now owns 27,200 shares of the energy company’s stock valued at $1,816,000 after purchasing an additional 600 shares in the last quarter. Retirement Systems of Alabama raised its stake in Matador Resources by 0.3% during the first quarter. Retirement Systems of Alabama now owns 139,131 shares of the energy company’s stock valued at $9,290,000 after purchasing an additional 365 shares in the last quarter. Private Advisor Group LLC raised its stake in Matador Resources by 6.3% during the first quarter. Private Advisor Group LLC now owns 48,898 shares of the energy company’s stock valued at $3,265,000 after purchasing an additional 2,890 shares in the last quarter. Peterson Wealth Services raised its stake in Matador Resources by 50.1% during the first quarter. Peterson Wealth Services now owns 39,557 shares of the energy company’s stock valued at $2,641,000 after purchasing an additional 13,211 shares in the last quarter. Finally, Janney Montgomery Scott LLC purchased a new stake in Matador Resources during the first quarter valued at $828,000. Institutional investors own 91.98% of the company’s stock.

Insiders Place Their Bets

In other Matador Resources news, CEO Joseph Wm Foran bought 2,500 shares of the company’s stock in a transaction on Monday, September 9th. The shares were bought at an average cost of $49.97 per share, for a total transaction of $124,925.00. Following the acquisition, the chief executive officer now directly owns 40,251 shares in the company, valued at approximately $2,011,342.47. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CAO Robert T. Macalik purchased 500 shares of the stock in a transaction dated Friday, August 2nd. The shares were acquired at an average cost of $54.50 per share, for a total transaction of $27,250.00. Following the acquisition, the chief accounting officer now owns 29,300 shares of the company’s stock, valued at approximately $1,596,850. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Joseph Wm Foran purchased 2,500 shares of the stock in a transaction dated Monday, September 9th. The stock was purchased at an average price of $49.97 per share, for a total transaction of $124,925.00. Following the completion of the acquisition, the chief executive officer now directly owns 40,251 shares in the company, valued at approximately $2,011,342.47. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders have acquired a total of 12,300 shares of company stock worth $634,615 in the last three months. Corporate insiders own 6.10% of the company’s stock.

Wall Street Analysts Forecast Growth

MTDR has been the topic of a number of recent research reports. Wells Fargo & Company decreased their price target on shares of Matador Resources from $89.00 to $87.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 1st. JPMorgan Chase & Co. reduced their target price on shares of Matador Resources from $83.00 to $76.00 and set an “overweight” rating on the stock in a research note on Thursday, September 12th. Truist Financial reduced their target price on shares of Matador Resources from $86.00 to $75.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. Stephens increased their target price on shares of Matador Resources from $76.00 to $78.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. Finally, BMO Capital Markets increased their target price on shares of Matador Resources from $75.00 to $78.00 and gave the company an “outperform” rating in a research note 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 presently has an average rating of “Moderate Buy” and an average price target of $75.31.

Matador Resources Trading Down 0.4 %

NYSE MTDR opened at $50.50 on Wednesday. The company’s 50-day moving average price is $52.50 and its 200-day moving average price is $57.78. The company has a current ratio of 0.88, a quick ratio of 0.84 and a debt-to-equity ratio of 0.71. The stock has a market cap of $6.30 billion, a PE ratio of 6.69 and a beta of 3.26. Matador Resources has a 12 month low of $47.15 and a 12 month high of $71.08.

Matador Resources (NYSE:MTDR) last posted its quarterly earnings results on Tuesday, October 22nd. The energy company reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.78 by $0.11. Matador Resources had a net margin of 27.45% and a return on equity of 20.01%. The firm had revenue of $770.20 million for the quarter, compared to analysts’ expectations of $836.69 million. During the same period in the prior year, the business posted $1.86 earnings per share. The business’s revenue for the quarter was up 9.8% on a year-over-year basis. Equities research analysts forecast that Matador Resources will post 7.42 earnings per share for the current year.

Matador Resources Increases Dividend

The firm 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 annualized dividend and a yield of 1.98%. This is a boost from Matador Resources’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Friday, November 15th. Matador Resources’s dividend payout ratio is presently 10.60%.

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.