Point72 Hong Kong Ltd Makes New $2.32 Million Investment in Matador Resources (NYSE:MTDR)

Point72 Hong Kong Ltd bought a new stake in shares of Matador Resources (NYSE:MTDR) in the 3rd quarter, HoldingsChannel reports. The firm bought 46,919 shares of the energy company’s stock, valued at approximately $2,319,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Boston Trust Walden Corp bought a new stake in Matador Resources in the 3rd quarter worth approximately $51,788,000. Dimensional Fund Advisors LP grew its holdings in shares of Matador Resources by 8.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,734,819 shares of the energy company’s stock valued at $282,196,000 after purchasing an additional 356,506 shares during the last quarter. Los Angeles Capital Management LLC purchased a new position in Matador Resources in the 2nd quarter worth $18,747,000. FMR LLC boosted its position in Matador Resources by 162.9% during the third quarter. FMR LLC now owns 478,795 shares of the energy company’s stock valued at $23,662,000 after buying an additional 296,663 shares during the period. Finally, Clearbridge Investments LLC grew its stake in shares of Matador Resources by 10.5% during the second quarter. Clearbridge Investments LLC now owns 2,250,036 shares of the energy company’s stock valued at $134,102,000 after buying an additional 214,334 shares during the last quarter. Hedge funds and other institutional investors own 91.98% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. lowered their target price on Matador Resources from $77.00 to $71.00 and set an “overweight” rating for the company in a research note on Wednesday, October 30th. Truist Financial decreased their target price 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. Mizuho dropped their price target on shares of Matador Resources from $85.00 to $74.00 and set an “outperform” rating for the company in a research report on Monday, September 16th. KeyCorp decreased their price objective on shares of Matador Resources from $76.00 to $72.00 and set an “overweight” rating on the stock in a research 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 Thursday, October 24th. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Matador Resources currently has an average rating of “Moderate Buy” and an average target price of $74.92.

Insider Activity at Matador Resources

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

Matador Resources Trading Up 0.8 %

NYSE MTDR opened at $60.01 on Monday. Matador Resources has a 12 month low of $47.15 and a 12 month high of $71.08. The company has a current ratio of 0.88, a quick ratio of 0.84 and a debt-to-equity ratio of 0.71. The stock’s fifty day moving average price is $54.25 and its 200-day moving average price is $56.65. The stock has a market cap of $7.49 billion, a P/E ratio of 7.95 and a beta of 3.26.

Matador Resources (NYSE:MTDR) last released its quarterly earnings data on Tuesday, October 22nd. The energy company reported $1.89 earnings per share (EPS) for the quarter, beating 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 business had revenue of $770.20 million for the quarter, compared to analysts’ expectations of $836.69 million. During the same period in the prior year, the firm posted $1.86 EPS. The firm’s quarterly revenue was up 9.8% on a year-over-year basis. As a group, equities analysts forecast that Matador Resources will post 7.5 EPS for the current fiscal year.

Matador Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 15th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.67%. This is a boost from Matador Resources’s previous quarterly dividend of $0.20. The ex-dividend date is Friday, November 15th. Matador Resources’s payout ratio is presently 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.