BNP Paribas Financial Markets Increases Stake in Matador Resources (NYSE:MTDR)

BNP Paribas Financial Markets increased its position in shares of Matador Resources (NYSE:MTDR) by 71.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 26,959 shares of the energy company’s stock after purchasing an additional 11,218 shares during the period. BNP Paribas Financial Markets’ holdings in Matador Resources were worth $1,332,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Denver PWM LLC purchased a new stake in shares of Matador Resources in the second quarter worth approximately $27,000. Quarry LP increased its stake in Matador Resources by 47.5% in the 2nd quarter. Quarry LP now owns 779 shares of the energy company’s stock worth $46,000 after buying an additional 251 shares during the period. Avior Wealth Management LLC lifted its holdings in Matador Resources by 329.0% during the 3rd quarter. Avior Wealth Management LLC now owns 828 shares of the energy company’s stock valued at $41,000 after buying an additional 635 shares in the last quarter. Covestor Ltd boosted its position in Matador Resources by 154.8% in the 3rd quarter. Covestor Ltd now owns 1,060 shares of the energy company’s stock valued at $52,000 after buying an additional 644 shares during the period. Finally, GAMMA Investing LLC boosted its position in Matador Resources by 28.7% in the 3rd quarter. GAMMA Investing LLC now owns 1,403 shares of the energy company’s stock valued at $69,000 after buying an additional 313 shares during the period. 91.98% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

MTDR has been the subject of several research analyst reports. JPMorgan Chase & Co. decreased their price target on shares of Matador Resources from $77.00 to $71.00 and set an “overweight” rating for the company in a research note on Wednesday, October 30th. Wells Fargo & Company lowered their target price on Matador Resources from $89.00 to $87.00 and set an “overweight” rating for the company in a report on Tuesday, October 1st. Stephens increased their price target on Matador Resources from $78.00 to $80.00 and gave the stock an “overweight” rating in a research report on Friday. KeyCorp decreased their price objective on Matador Resources from $76.00 to $72.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $70.00 target price on shares of Matador Resources in a report on Friday. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $75.08.

Insider Transactions at Matador Resources

In other news, Director Robert Gaines Baty bought 500 shares of Matador Resources stock in a transaction that occurred on Friday, September 13th. The stock was bought at an average price of $50.58 per share, for a total transaction of $25,290.00. Following the purchase, the director now directly owns 67,617 shares of the company’s stock, valued at approximately $3,420,067.86. The trade was a 0.74 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Glenn W. Stetson purchased 1,000 shares of the company’s stock in a transaction on Wednesday, October 30th. The shares were purchased 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 owns 85,935 shares in the company, valued at approximately $4,411,043.55. The trade was a 1.18 % increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 1,805 shares of company stock worth $92,151. Insiders own 6.10% of the company’s stock.

Matador Resources Trading Up 2.0 %

NYSE MTDR opened at $56.42 on Tuesday. Matador Resources has a 52 week low of $47.15 and a 52 week high of $71.08. The company has a 50 day moving average price of $55.15 and a 200 day moving average price of $56.44. The company has a quick ratio of 0.84, a current ratio of 0.88 and a debt-to-equity ratio of 0.71. The firm has a market cap of $7.04 billion, a PE ratio of 7.47 and a beta of 3.26.

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

Matador Resources Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Friday, November 15th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.77%. The ex-dividend date was Friday, November 15th. This is an increase from Matador Resources’s previous quarterly dividend of $0.20. Matador Resources’s dividend payout ratio (DPR) is currently 13.25%.

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.