Farther Finance Advisors LLC Decreases Stock Holdings in Matador Resources (NYSE:MTDR)

Farther Finance Advisors LLC decreased its position in Matador Resources (NYSE:MTDR) by 30.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund 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 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Securian Asset Management Inc. raised its holdings in shares of Matador Resources by 1.9% in the 2nd quarter. Securian Asset Management Inc. now owns 9,255 shares of the energy company’s stock valued at $552,000 after acquiring an additional 170 shares in the last quarter. Raymond James Trust N.A. grew its stake in shares of Matador Resources by 3.6% in the second quarter. Raymond James Trust N.A. now owns 5,714 shares of the energy company’s stock worth $341,000 after acquiring an additional 198 shares during the last quarter. Covestor Ltd lifted its stake in shares of Matador Resources by 121.4% in the first quarter. Covestor Ltd now owns 414 shares of the energy company’s stock worth $28,000 after buying an additional 227 shares in the last quarter. Fifth Third Bancorp lifted its holdings in shares of Matador Resources by 16.6% during the second quarter. Fifth Third Bancorp now owns 1,709 shares of the energy company’s stock valued at $102,000 after purchasing an additional 243 shares in the last quarter. Finally, Quarry LP grew its stake in shares of Matador Resources by 47.5% in the second quarter. Quarry LP now owns 779 shares of the energy company’s stock worth $46,000 after acquiring an additional 251 shares during the period. 91.98% of the stock is currently owned by institutional investors.

Matador Resources Price Performance

Shares of 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. Matador Resources has a fifty-two week low of $47.15 and a fifty-two week high of $71.08. The company has a market cap of $7.36 billion, a PE ratio of 7.81 and a beta of 3.26. The business has a 50-day simple moving average of $52.36 and a two-hundred day simple moving average of $57.03.

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, 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 analyst estimates of $836.69 million. During the same quarter in the prior year, the business earned $1.86 earnings per share. The business’s quarterly revenue was up 9.8% compared to the same quarter last year. As a group, equities analysts expect 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 will be paid on Friday, December 6th. Investors of record on Friday, November 15th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.70%. The ex-dividend date of this dividend is Friday, November 15th. This is a positive change from Matador Resources’s previous quarterly dividend of $0.20. Matador Resources’s payout ratio is currently 10.60%.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Wolfe Research began coverage on shares of Matador Resources in a research report on Thursday, July 18th. They set a “peer perform” rating for the company. Capital One Financial raised Matador Resources from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $80.00 to $84.00 in a research note on Thursday, July 25th. TD Cowen upped their price target 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. BMO Capital Markets upped their price target on shares of Matador Resources from $75.00 to $78.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. Finally, KeyCorp dropped their price target on Matador Resources from $76.00 to $72.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 16th. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Matador Resources has a consensus rating of “Moderate Buy” and a consensus target price of $74.92.

Insider Activity

In related news, CEO Joseph Wm Foran bought 2,500 shares of the stock in a transaction dated Monday, September 9th. The shares were acquired 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. This trade represents a 6.62 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Robert T. Macalik purchased 500 shares of the stock in a transaction dated Friday, September 6th. The shares were purchased at an average cost of $50.25 per share, for a total transaction of $25,125.00. Following the transaction, the chief accounting officer now owns 29,800 shares in the company, valued at approximately $1,497,450. The trade was a 1.71 % increase in their position. The disclosure for this purchase can be found here. Insiders have acquired 11,105 shares of company stock worth $562,306 in the last quarter. Corporate insiders own 6.10% of the company’s stock.

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.