Fisher Asset Management LLC Sells 18,742 Shares of Matador Resources (NYSE:MTDR)

Fisher Asset Management LLC lowered its position in Matador Resources (NYSE:MTDR) by 2.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 638,688 shares of the energy company’s stock after selling 18,742 shares during the quarter. Fisher Asset Management LLC’s holdings in Matador Resources were worth $31,564,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of MTDR. Dimensional Fund Advisors LP lifted its position in Matador Resources by 8.1% in the second quarter. Dimensional Fund Advisors LP now owns 4,734,819 shares of the energy company’s stock worth $282,196,000 after purchasing an additional 356,506 shares during the period. Victory Capital Management Inc. lifted its holdings in shares of Matador Resources by 2.7% during the 3rd quarter. Victory Capital Management Inc. now owns 2,752,102 shares of the energy company’s stock worth $136,009,000 after acquiring an additional 72,077 shares during the period. Clearbridge Investments LLC boosted its position in shares of Matador Resources by 10.5% during the 2nd quarter. Clearbridge Investments LLC now owns 2,250,036 shares of the energy company’s stock valued at $134,102,000 after acquiring an additional 214,334 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Matador Resources by 4.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,434,926 shares of the energy company’s stock valued at $70,914,000 after acquiring an additional 57,254 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of Matador Resources by 5.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,104,791 shares of the energy company’s stock valued at $73,768,000 after purchasing an additional 53,322 shares during the period. Institutional investors and hedge funds own 91.98% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on MTDR shares. KeyCorp dropped their target price on shares of Matador Resources from $76.00 to $72.00 and set an “overweight” rating for the company in a research report on Wednesday, October 16th. Stephens increased their price target on Matador Resources from $76.00 to $78.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. Mizuho cut their price objective on Matador Resources from $85.00 to $74.00 and set an “outperform” rating for the company in a research report on Monday, September 16th. Truist Financial decreased their target price on Matador Resources from $86.00 to $75.00 and set a “buy” rating on the stock in a report on Monday, September 30th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $70.00 target price on shares of Matador Resources in a research note on Thursday, October 24th. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $74.92.

Matador Resources Stock Performance

Matador Resources stock opened at $58.85 on Wednesday. The company has a market cap of $7.34 billion, a PE ratio of 7.79 and a beta of 3.26. The company has a current ratio of 0.88, a quick ratio of 0.84 and a debt-to-equity ratio of 0.71. Matador Resources has a 1 year low of $47.15 and a 1 year high of $71.08. The company’s 50-day moving average is $53.66 and its two-hundred day moving average is $56.71.

Matador Resources (NYSE:MTDR) last announced its quarterly earnings data on Tuesday, October 22nd. The energy company reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.78 by $0.11. Matador Resources had a net margin of 27.45% and a return on equity of 20.01%. The business had revenue of $770.20 million for the quarter, compared to analyst estimates of $836.69 million. During the same period in the prior year, the business posted $1.86 earnings per share. Matador Resources’s revenue was up 9.8% compared to the same quarter last year. Equities analysts anticipate that Matador Resources will post 7.5 earnings per share for the current year.

Matador Resources Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 15th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Friday, November 15th. This is a boost from Matador Resources’s previous quarterly dividend of $0.20. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.70%. Matador Resources’s dividend payout ratio is 13.25%.

Insider Buying and Selling at Matador Resources

In other news, CEO Joseph Wm Foran bought 2,500 shares of the business’s stock in a transaction on Monday, September 9th. The shares were purchased at an average price of $49.97 per share, for a total transaction of $124,925.00. Following the purchase, the chief executive officer now owns 40,251 shares of the company’s stock, valued at approximately $2,011,342.47. The trade was a 6.62 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Robert T. Macalik acquired 500 shares of the business’s stock in a transaction dated Friday, September 6th. The stock was acquired 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 of the company’s stock, valued at $1,497,450. This represents a 1.71 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 11,105 shares of company stock valued at $562,306. Corporate insiders own 6.10% of the company’s stock.

About Matador Resources

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.