MetLife Investment Management LLC Sells 1,120 Shares of Matador Resources (NYSE:MTDR)

MetLife Investment Management LLC decreased its holdings in shares of Matador Resources (NYSE:MTDR) by 1.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 60,427 shares of the energy company’s stock after selling 1,120 shares during the period. MetLife Investment Management LLC’s holdings in Matador Resources were worth $2,986,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of MTDR. Denver PWM LLC bought a new stake in shares of Matador Resources during the 2nd quarter valued at $27,000. Avior Wealth Management LLC grew its position in shares of Matador Resources by 329.0% during the 3rd quarter. Avior Wealth Management LLC now owns 828 shares of the energy company’s stock valued at $41,000 after acquiring an additional 635 shares during the period. Quarry LP grew its position 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 acquiring an additional 251 shares during the period. Covestor Ltd grew its position in shares of Matador Resources by 154.8% during the 3rd quarter. Covestor Ltd now owns 1,060 shares of the energy company’s stock valued at $52,000 after acquiring an additional 644 shares during the period. Finally, GAMMA Investing LLC grew its position in shares of Matador Resources by 28.7% during the 3rd quarter. GAMMA Investing LLC now owns 1,403 shares of the energy company’s stock valued at $69,000 after acquiring an additional 313 shares during the period. Institutional investors own 91.98% of the company’s stock.

Matador Resources Stock Up 0.9 %

Shares of NYSE MTDR opened at $59.43 on Wednesday. The firm’s 50-day moving average price is $54.38 and its 200-day moving average price is $56.58. 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 has a market capitalization of $7.42 billion, a price-to-earnings ratio of 7.87 and a beta of 3.26. Matador Resources has a 12-month low of $47.15 and a 12-month high of $71.08.

Matador Resources (NYSE:MTDR) last announced its earnings results 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. The firm had revenue of $770.20 million for 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 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. On average, equities research analysts anticipate that Matador Resources will post 7.5 EPS 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. Stockholders of record on Friday, November 15th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.68%. 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 dividend payout ratio is currently 13.25%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Benchmark reaffirmed a “buy” rating and issued a $62.00 target price on shares of Matador Resources in a report on Wednesday, October 23rd. KeyCorp dropped their target price on shares of Matador Resources from $76.00 to $72.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th. 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. Wells Fargo & Company dropped their target price on shares of Matador Resources from $89.00 to $87.00 and set an “overweight” rating for the company in a report on Tuesday, October 1st. Finally, Stephens upped their target price on shares of Matador Resources from $76.00 to $78.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $74.92.

Insider Activity

In other news, CAO Robert T. Macalik acquired 500 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was acquired at an average price of $50.25 per share, with a total value of $25,125.00. Following the completion of the purchase, the chief accounting officer now directly owns 29,800 shares in the company, valued at approximately $1,497,450. This trade represents a 1.71 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 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, with a total value of $75,750.00. Following the purchase, the chief financial officer now owns 1,500 shares of the company’s stock, valued at $75,750. The trade was 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 worth $562,306. 6.10% of the stock is currently owned by corporate insiders.

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.