True Wealth Design LLC Purchases New Position in Matador Resources (NYSE:MTDR)

True Wealth Design LLC purchased a new position in Matador Resources (NYSE:MTDR) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 749 shares of the energy company’s stock, valued at approximately $37,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Denver PWM LLC bought a new position in shares of Matador Resources in the 2nd quarter worth approximately $27,000. Avior Wealth Management LLC grew its stake in Matador Resources by 329.0% in the third quarter. Avior Wealth Management LLC now owns 828 shares of the energy company’s stock worth $41,000 after purchasing an additional 635 shares during the period. Quarry LP grew its stake in Matador Resources by 47.5% in the second quarter. Quarry LP now owns 779 shares of the energy company’s stock worth $46,000 after purchasing an additional 251 shares during the period. Covestor Ltd raised its holdings in Matador Resources by 154.8% in the third quarter. Covestor Ltd now owns 1,060 shares of the energy company’s stock worth $52,000 after purchasing an additional 644 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in Matador Resources by 28.7% during the third quarter. GAMMA Investing LLC now owns 1,403 shares of the energy company’s stock valued at $69,000 after buying an additional 313 shares during the period. 91.98% of the stock is currently owned by hedge funds and other institutional investors.

Matador Resources Stock Up 0.8 %

Matador Resources stock opened at $60.01 on Monday. Matador Resources has a one year low of $47.15 and a one year high of $71.08. The stock has a fifty day moving average of $54.25 and a 200 day moving average of $56.65. 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 stock has a market cap of $7.49 billion, a PE ratio of 7.95 and a beta of 3.26.

Matador Resources (NYSE:MTDR) last released its quarterly 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. Matador Resources had a net margin of 27.45% and a return on equity of 20.01%. The firm had revenue of $770.20 million during the quarter, compared to analyst estimates of $836.69 million. During the same quarter in the prior year, the firm earned $1.86 EPS. The business’s revenue for the quarter was up 9.8% compared to the same quarter last year. As a group, sell-side analysts predict that Matador Resources will post 7.5 EPS for the current year.

Matador Resources Increases Dividend

The firm also recently declared 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. The ex-dividend date of this dividend is Friday, November 15th. 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 1.67%. Matador Resources’s dividend payout ratio (DPR) is presently 13.25%.

Insider Transactions at Matador Resources

In other news, CAO Robert T. Macalik bought 500 shares of the firm’s stock in a transaction on Friday, September 6th. The shares were bought at an average price of $50.25 per share, for a total transaction of $25,125.00. Following the purchase, the chief accounting officer now owns 29,800 shares in the company, valued at approximately $1,497,450. The trade was a 1.71 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Bryan A. Erman purchased 1,000 shares of the company’s stock in a transaction on Friday, September 6th. The stock was purchased at an average price of $50.35 per share, with a total value 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 disclosure for this purchase can be found here. Insiders have acquired 11,105 shares of company stock worth $562,306 in the last 90 days. 6.10% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

MTDR has been the subject of several research reports. Mizuho decreased 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 note on Monday, September 16th. JPMorgan Chase & Co. decreased their target price on shares of 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 dropped their price target on Matador Resources from $86.00 to $75.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. 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. Finally, BMO Capital Markets raised 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. Two investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $74.92.

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.