Matador Resources (NYSE:MTDR) Shares Purchased by Dynamic Technology Lab Private Ltd

Dynamic Technology Lab Private Ltd boosted its stake in shares of Matador Resources (NYSE:MTDR) by 194.0% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 16,534 shares of the energy company’s stock after acquiring an additional 10,910 shares during the period. Dynamic Technology Lab Private Ltd’s holdings in Matador Resources were worth $817,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the stock. Boston Trust Walden Corp acquired a new position in shares of Matador Resources during the 3rd quarter worth about $51,788,000. Dimensional Fund Advisors LP lifted its position in shares of 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 valued at $282,196,000 after acquiring an additional 356,506 shares in the last quarter. Los Angeles Capital Management LLC acquired a new stake in shares of Matador Resources in the second quarter worth approximately $18,747,000. Clearbridge Investments LLC increased its position 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 worth $134,102,000 after purchasing an additional 214,334 shares in the last quarter. Finally, AQR Capital Management LLC raised its stake in Matador Resources by 157.0% in the 2nd quarter. AQR Capital Management LLC now owns 334,646 shares of the energy company’s stock valued at $19,945,000 after purchasing an additional 204,420 shares during the last quarter. 91.98% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently issued reports on MTDR. Truist Financial dropped their target price on shares of Matador Resources from $86.00 to $75.00 and set a “buy” rating for the company in a report on Monday, September 30th. BMO Capital Markets upped their price objective on shares of Matador Resources from $75.00 to $78.00 and gave the company an “outperform” rating in a research note on Friday, October 4th. Stephens raised their target price on shares of Matador Resources from $76.00 to $78.00 and gave the stock an “overweight” rating in a research note on Monday, October 21st. Benchmark restated a “buy” rating and set a $62.00 target price on shares of Matador Resources in a report on Wednesday, October 23rd. Finally, KeyCorp cut their price target on Matador Resources from $76.00 to $72.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th. Two equities research 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, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $74.92.

Insiders Place Their Bets

In related news, CFO Brian J. Willey bought 1,500 shares of the stock in a transaction that occurred on Friday, September 6th. The stock was purchased at an average cost of $50.50 per share, with a total value of $75,750.00. Following the purchase, the chief financial officer now directly owns 1,500 shares of the company’s stock, valued at $75,750. This trade represents a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Glenn W. Stetson bought 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The shares were purchased at an average price of $51.33 per share, for a total transaction of $51,330.00. Following the completion of the purchase, the executive vice president now directly owns 85,935 shares of the company’s stock, valued at approximately $4,411,043.55. This trade represents a 1.18 % 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 over the last three months. Company insiders own 6.10% of the company’s stock.

Matador Resources Stock Performance

Shares of MTDR stock opened at $59.54 on Thursday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.84 and a current ratio of 0.88. The firm has a market cap of $7.43 billion, a P/E ratio of 7.82 and a beta of 3.26. The firm’s 50 day moving average price is $53.79 and its 200-day moving average price is $56.68. Matador Resources has a one year low of $47.15 and a one year high of $71.08.

Matador Resources (NYSE:MTDR) last released its quarterly earnings results on Tuesday, October 22nd. The energy company reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.78 by $0.11. Matador Resources had a return on equity of 20.01% and a net margin of 27.45%. The company 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 earned $1.86 earnings per share. The firm’s revenue was up 9.8% compared to the same quarter last year. As a group, equities research analysts predict that Matador Resources will post 7.5 EPS for the current year.

Matador Resources Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 15th will be given a $0.25 dividend. This is an increase from Matador Resources’s previous quarterly dividend of $0.20. This represents a $1.00 annualized dividend and a yield of 1.68%. The ex-dividend date is Friday, November 15th. Matador Resources’s payout ratio is currently 13.25%.

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.