Royce & Associates LP Has $17.67 Million Position in Matador Resources (NYSE:MTDR)

Royce & Associates LP increased its holdings in shares of Matador Resources (NYSE:MTDR) by 21.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 357,563 shares of the energy company’s stock after purchasing an additional 62,784 shares during the period. Royce & Associates LP’s holdings in Matador Resources were worth $17,671,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. Securian Asset Management Inc. lifted its holdings in shares of Matador Resources by 1.9% during the 2nd quarter. Securian Asset Management Inc. now owns 9,255 shares of the energy company’s stock valued at $552,000 after purchasing an additional 170 shares in the last quarter. Raymond James Trust N.A. lifted its holdings in shares of Matador Resources by 3.6% during the 2nd quarter. Raymond James Trust N.A. now owns 5,714 shares of the energy company’s stock valued at $341,000 after purchasing an additional 198 shares in the last quarter. Covestor Ltd lifted its holdings in shares of Matador Resources by 121.4% during the 1st quarter. Covestor Ltd now owns 414 shares of the energy company’s stock valued at $28,000 after purchasing an additional 227 shares in the last quarter. Fifth Third Bancorp lifted its holdings in shares of Matador Resources by 16.6% during the 2nd quarter. Fifth Third Bancorp now owns 1,709 shares of the energy company’s stock valued at $102,000 after purchasing an additional 243 shares in the last quarter. Finally, Quarry LP lifted its holdings in shares of Matador Resources by 47.5% during the 2nd quarter. Quarry LP now owns 779 shares of the energy company’s stock valued at $46,000 after purchasing an additional 251 shares in the last quarter. Institutional investors own 91.98% of the company’s stock.

Matador Resources Trading Down 2.1 %

Shares of Matador Resources stock opened at $57.53 on Friday. Matador Resources has a 12-month low of $47.15 and a 12-month high of $71.08. The stock has a market cap of $7.18 billion, a P/E ratio of 7.62 and a beta of 3.26. 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 business’s 50 day moving average is $52.50 and its 200-day moving average is $56.97.

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

Matador Resources Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 15th will be issued a dividend of $0.25 per share. The ex-dividend date is Friday, November 15th. 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 dividend yield of 1.74%. Matador Resources’s payout ratio is presently 10.60%.

Insider Buying and Selling

In other news, CEO Joseph Wm Foran acquired 2,500 shares of the firm’s stock in a transaction on Friday, September 6th. The shares were purchased at an average cost of $51.47 per share, with a total value of $128,675.00. Following the acquisition, the chief executive officer now directly owns 37,751 shares in the company, valued at $1,943,043.97. This represents a 7.09 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Brian J. Willey acquired 1,500 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was purchased at an average cost of $50.50 per share, for a total transaction of $75,750.00. Following the completion of the acquisition, the chief financial officer now owns 1,500 shares in the company, valued at approximately $75,750. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 11,105 shares of company stock valued at $562,306. 6.10% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on MTDR. Wells Fargo & Company cut their price objective on Matador Resources from $89.00 to $87.00 and set an “overweight” rating on the stock in a report on Tuesday, October 1st. KeyCorp cut their target price on Matador Resources from $76.00 to $72.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 16th. Benchmark restated a “buy” rating and issued a $62.00 target price on shares of Matador Resources in a research note on Wednesday, October 23rd. Truist Financial cut their target price on Matador Resources from $86.00 to $75.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. Finally, BMO Capital Markets boosted their target price on Matador Resources from $75.00 to $78.00 and gave the company an “outperform” rating in a research note on Friday, October 4th. 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 MarketBeat.com, Matador Resources presently has a consensus rating of “Moderate Buy” and a consensus target price of $74.92.

Matador Resources Company 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.