Ontario Teachers Pension Plan Board Has $1.60 Million Position in Matador Resources (NYSE:MTDR)

Ontario Teachers Pension Plan Board lessened its stake in shares of Matador Resources (NYSE:MTDR) by 32.9% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 32,356 shares of the energy company’s stock after selling 15,838 shares during the quarter. Ontario Teachers Pension Plan Board’s holdings in Matador Resources were worth $1,599,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Price T Rowe Associates Inc. MD lifted its position in Matador Resources by 5.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,104,791 shares of the energy company’s stock worth $73,768,000 after acquiring an additional 53,322 shares during the last quarter. Vanguard Group Inc. boosted its stake in Matador Resources by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 11,124,705 shares of the energy company’s stock valued at $742,797,000 after purchasing an additional 103,713 shares during the period. DekaBank Deutsche Girozentrale grew its holdings in Matador Resources by 304.1% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 13,288 shares of the energy company’s stock valued at $863,000 after buying an additional 10,000 shares in the last quarter. Amalgamated Bank grew its holdings in Matador Resources by 25.5% in the 2nd quarter. Amalgamated Bank now owns 73,025 shares of the energy company’s stock valued at $4,352,000 after buying an additional 14,850 shares in the last quarter. Finally, American Century Companies Inc. lifted its holdings in shares of Matador Resources by 2.9% during the second quarter. American Century Companies Inc. now owns 561,671 shares of the energy company’s stock worth $33,476,000 after buying an additional 15,835 shares in the last quarter. Institutional investors own 91.98% of the company’s stock.

Insider Activity

In other news, EVP Bryan A. Erman purchased 1,000 shares of the stock in a transaction dated Friday, September 6th. The shares were purchased at an average cost of $50.35 per share, with a total value of $50,350.00. Following the completion of the acquisition, the executive vice president now owns 2,750 shares in the company, valued at $138,462.50. This represents a 57.14 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CAO Robert T. Macalik purchased 500 shares of the business’s stock in a transaction on Friday, September 6th. The stock was purchased at an average cost of $50.25 per share, with a total value of $25,125.00. Following the completion of the acquisition, the chief accounting officer now owns 29,800 shares in the company, valued at approximately $1,497,450. This trade represents a 1.71 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought a total of 11,105 shares of company stock worth $562,306 over the last quarter. Insiders own 6.10% of the company’s stock.

Matador Resources Price Performance

MTDR stock opened at $59.19 on Thursday. Matador Resources has a 12-month low of $47.15 and a 12-month high of $71.08. 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 company’s fifty day simple moving average is $53.05 and its 200 day simple moving average is $56.86. The firm has a market cap of $7.39 billion, a price-to-earnings ratio of 7.84 and a beta of 3.26.

Matador Resources (NYSE:MTDR) last posted 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 firm had revenue of $770.20 million for the quarter, compared to analysts’ expectations of $836.69 million. Matador Resources had a return on equity of 20.01% and a net margin of 27.45%. The company’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period in the prior year, the business earned $1.86 EPS. On average, analysts expect 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. Investors of record on Friday, November 15th will be given a $0.25 dividend. This is a positive change from Matador Resources’s previous quarterly dividend of $0.20. This represents a $1.00 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date is Friday, November 15th. Matador Resources’s dividend payout ratio is presently 13.25%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on MTDR shares. Truist Financial decreased their price target 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. Capital One Financial raised shares of Matador Resources from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $80.00 to $84.00 in a report on Thursday, July 25th. Stephens boosted their price target on Matador Resources from $76.00 to $78.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. Benchmark reissued a “buy” rating and set a $62.00 price target on shares of Matador Resources in a research report on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. cut their target price on Matador Resources from $77.00 to $71.00 and set an “overweight” rating for the company in a research report on Wednesday, October 30th. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $74.92.

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.