James Investment Research Inc. Trims Stock Holdings in Matador Resources (NYSE:MTDR)

James Investment Research Inc. decreased its stake in Matador Resources (NYSE:MTDR) by 14.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 57,759 shares of the energy company’s stock after selling 9,696 shares during the quarter. James Investment Research Inc.’s holdings in Matador Resources were worth $2,854,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Essex Investment Management Co. LLC increased its position in Matador Resources by 0.5% in the first quarter. Essex Investment Management Co. LLC now owns 37,532 shares of the energy company’s stock worth $2,506,000 after buying an additional 169 shares in the last quarter. Securian Asset Management Inc. increased its position in Matador Resources by 1.9% in the second quarter. Securian Asset Management Inc. now owns 9,255 shares of the energy company’s stock worth $552,000 after buying an additional 170 shares in the last quarter. Raymond James Trust N.A. increased its position in 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 buying an additional 198 shares in the last quarter. Covestor Ltd increased its position in 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. Finally, Fifth Third Bancorp increased its position in Matador Resources by 16.6% in the second quarter. Fifth Third Bancorp now owns 1,709 shares of the energy company’s stock worth $102,000 after buying an additional 243 shares in the last quarter. Hedge funds and other institutional investors own 91.98% of the company’s stock.

Matador Resources Price Performance

NYSE:MTDR opened at $51.59 on Friday. The firm has a market capitalization of $6.44 billion, a price-to-earnings ratio of 6.83 and a beta of 3.26. Matador Resources has a 1 year low of $47.15 and a 1 year high of $71.08. The business has a 50 day simple moving average of $52.34 and a 200-day simple moving average of $57.70. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.88 and a quick ratio of 0.84.

Matador Resources (NYSE:MTDR) last issued its quarterly earnings results on Tuesday, October 22nd. The energy company reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.78 by $0.11. Matador Resources had a return on equity of 20.01% and a net margin of 27.45%. The firm had revenue of $770.20 million for the quarter, compared to the consensus estimate of $836.69 million. During the same period in the prior year, the business posted $1.86 earnings per share. The company’s revenue for the quarter was up 9.8% on a year-over-year basis. Equities analysts forecast that Matador Resources will post 7.45 EPS for the current year.

Matador Resources Increases Dividend

The firm 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 $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.94%. This is an increase 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%.

Insider Buying and Selling at Matador Resources

In related news, CAO Robert T. Macalik acquired 500 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The stock was purchased at an average cost of $50.25 per share, for a total transaction of $25,125.00. Following the purchase, the chief accounting officer now directly owns 29,800 shares of the company’s stock, valued at $1,497,450. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. In other Matador Resources news, CAO Robert T. Macalik purchased 500 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was bought at an average cost of $50.25 per share, for a total transaction of $25,125.00. Following the completion of the purchase, the chief accounting officer now owns 29,800 shares in the company, valued at $1,497,450. This represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Bryan A. Erman purchased 1,000 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was acquired at an average price of $50.35 per share, with a total value of $50,350.00. Following the completion of the purchase, the executive vice president now owns 2,750 shares of the company’s stock, valued at $138,462.50. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders bought a total of 11,105 shares of company stock valued at $562,306 in the last ninety days. Corporate insiders own 6.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on MTDR. JPMorgan Chase & Co. dropped their price objective on Matador Resources from $77.00 to $71.00 and set an “overweight” rating for the company in a research note on Wednesday. Mizuho dropped their price objective on Matador Resources from $85.00 to $74.00 and set an “outperform” rating for the company in a research note on Monday, September 16th. Wells Fargo & Company dropped 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. TD Cowen upped their price objective on Matador Resources from $85.00 to $87.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Finally, Truist Financial dropped their price objective on Matador Resources from $86.00 to $75.00 and set a “buy” rating for the company in a research note on Monday, September 30th. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $74.92.

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.