Castleark Management LLC Has $1.35 Million Stake in Matador Resources (NYSE:MTDR)

Castleark Management LLC cut its stake in Matador Resources (NYSE:MTDR) by 78.5% in the third quarter, Holdings Channel.com reports. The firm owned 27,350 shares of the energy company’s stock after selling 99,700 shares during the quarter. Castleark Management LLC’s holdings in Matador Resources were worth $1,352,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the company. Securian Asset Management Inc. lifted its position in shares of Matador Resources by 1.9% in the second quarter. Securian Asset Management Inc. now owns 9,255 shares of the energy company’s stock worth $552,000 after purchasing an additional 170 shares in the last quarter. Raymond James Trust N.A. lifted its position in 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 worth $341,000 after buying an additional 198 shares in the last quarter. ClearAlpha Technologies LP boosted its stake in shares of Matador Resources by 4.3% during the 3rd quarter. ClearAlpha Technologies LP now owns 5,250 shares of the energy company’s stock worth $259,000 after buying an additional 218 shares during the last quarter. Fifth Third Bancorp grew its holdings in shares of Matador Resources by 16.6% in the 2nd quarter. Fifth Third Bancorp now owns 1,709 shares of the energy company’s stock valued at $102,000 after acquiring an additional 243 shares in the last quarter. Finally, Quarry LP increased its position in shares of Matador Resources by 47.5% in the second 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 last quarter. Institutional investors own 91.98% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on MTDR shares. Truist Financial reduced their price target on Matador Resources from $86.00 to $75.00 and set a “buy” rating for the company in a research report on Monday, September 30th. KeyCorp cut their price objective on Matador Resources from $76.00 to $72.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th. Royal Bank of Canada restated an “outperform” rating and set a $70.00 target price on shares of Matador Resources in a report on Friday. Stephens increased their price target on shares of Matador Resources from $78.00 to $80.00 and gave the company an “overweight” rating in a research note on Friday. Finally, Wells Fargo & Company lowered their price objective on shares of Matador Resources from $89.00 to $87.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 1st. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $75.08.

Matador Resources Trading Down 4.8 %

Shares of NYSE:MTDR opened at $55.30 on Friday. Matador Resources has a 12-month low of $47.15 and a 12-month high of $71.08. The business has a 50 day moving average of $55.00 and a 200-day moving average of $56.49. 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 stock has a market cap of $6.90 billion, a PE ratio of 7.32 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 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.78 by $0.11. Matador Resources had a return on equity of 20.01% and a net margin of 27.45%. The business had revenue of $770.20 million during the quarter, compared to the consensus estimate of $836.69 million. The firm’s quarterly revenue was up 9.8% on a year-over-year basis. During the same period in the previous year, the company posted $1.86 EPS. As a group, equities research analysts forecast that Matador Resources will post 7.5 earnings per share for the current year.

Matador Resources Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Friday, November 15th were paid a $0.25 dividend. The ex-dividend date of this dividend was 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 dividend yield of 1.81%. Matador Resources’s dividend payout ratio is 13.25%.

Insider Buying and Selling

In related news, EVP Glenn W. Stetson purchased 1,000 shares of Matador Resources stock in a transaction that occurred on Wednesday, October 30th. The shares were acquired at an average price of $51.33 per share, with a total value of $51,330.00. Following the completion of the transaction, the executive vice president now directly owns 85,935 shares of the company’s stock, valued at $4,411,043.55. This represents a 1.18 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert Gaines Baty acquired 500 shares of the company’s stock in a transaction on Friday, September 13th. The stock was bought at an average cost of $50.58 per share, with a total value of $25,290.00. Following the completion of the acquisition, the director now directly owns 67,617 shares in the company, valued at approximately $3,420,067.86. This represents a 0.74 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 5,605 shares of company stock valued at $282,406. 6.10% of the stock is owned by company insiders.

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.