Smith Group Asset Management LLC Buys Shares of 10,752 Matador Resources (NYSE:MTDR)

Smith Group Asset Management LLC purchased a new position in shares of Matador Resources (NYSE:MTDR) in the third quarter, according to its most recent disclosure with the SEC. The firm purchased 10,752 shares of the energy company’s stock, valued at approximately $531,000.

Several other institutional investors have also made changes to their positions in MTDR. Janney Montgomery Scott LLC bought a new position in Matador Resources during the first quarter valued at approximately $828,000. Prevail Innovative Wealth Advisors LLC grew its position in Matador Resources by 28.6% in the first quarter. Prevail Innovative Wealth Advisors LLC now owns 37,163 shares of the energy company’s stock worth $2,481,000 after acquiring an additional 8,254 shares in the last quarter. Capstone Investment Advisors LLC grew its position in Matador Resources by 1,029.1% in the first quarter. Capstone Investment Advisors LLC now owns 76,032 shares of the energy company’s stock worth $5,077,000 after acquiring an additional 69,298 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in Matador Resources by 5.1% in 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 in the last quarter. Finally, Vanguard Group Inc. grew its position in Matador Resources by 0.9% in the first quarter. Vanguard Group Inc. now owns 11,124,705 shares of the energy company’s stock worth $742,797,000 after acquiring an additional 103,713 shares in the last quarter. 91.98% of the stock is currently owned by institutional investors and hedge funds.

Matador Resources Price Performance

NYSE:MTDR opened at $50.69 on Tuesday. The stock has a market cap of $6.33 billion, a P/E ratio of 6.71 and a beta of 3.26. Matador Resources has a one year low of $47.15 and a one year high of $71.08. The company has a fifty day moving average price of $52.61 and a 200 day moving average price of $57.91. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.88 and a quick ratio of 0.84.

Matador Resources (NYSE:MTDR) last released its earnings results on Tuesday, October 22nd. The energy company reported $1.89 EPS for the quarter, beating the consensus estimate of $1.78 by $0.11. The firm had revenue of $770.20 million during the quarter, compared to analysts’ expectations of $836.69 million. Matador Resources had a net margin of 27.45% and a return on equity of 20.01%. The business’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same period in the prior year, the company earned $1.86 EPS. Analysts anticipate that Matador Resources will post 7.42 earnings per share for the current year.

Matador Resources Increases Dividend

The firm also recently disclosed 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. This is a boost from Matador Resources’s previous quarterly dividend of $0.20. The ex-dividend date is Friday, November 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.97%. Matador Resources’s dividend payout ratio is currently 10.60%.

Insider Activity

In other Matador Resources news, CAO Robert T. Macalik acquired 500 shares of the company’s stock in a transaction dated Friday, August 2nd. The stock was bought at an average price of $54.50 per share, for a total transaction of $27,250.00. Following the purchase, the chief accounting officer now owns 29,300 shares in the company, valued at $1,596,850. This represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Matador Resources news, CAO Robert T. Macalik acquired 500 shares of the company’s stock in a transaction dated Friday, August 2nd. The stock was bought at an average price of $54.50 per share, for a total transaction of $27,250.00. Following the purchase, the chief accounting officer now owns 29,300 shares in the company, valued at $1,596,850. This represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Joseph Wm Foran acquired 2,000 shares of the company’s stock in a transaction dated Friday, August 2nd. The stock was acquired at an average price of $55.96 per share, with a total value of $111,920.00. Following the purchase, the chief executive officer now owns 35,251 shares in the company, valued at approximately $1,972,645.96. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 12,300 shares of company stock worth $634,615. 6.10% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have commented on MTDR shares. Wolfe Research started coverage on shares of Matador Resources in a research report on Thursday, July 18th. They issued a “peer perform” rating for the company. KeyCorp decreased 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. Truist Financial reduced their price objective on shares of Matador Resources from $86.00 to $75.00 and set a “buy” rating for the company in a research note on Monday, September 30th. BMO Capital Markets boosted their price objective on shares of Matador Resources from $75.00 to $78.00 and gave the stock an “outperform” rating in a research note on Friday, October 4th. Finally, TD Cowen boosted their price objective on shares of Matador Resources from $85.00 to $87.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Two equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $75.31.

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.