Matador Resources Company $MTDR Stock: Fulcrum Asset Management LLP Reduces Holdings

Fulcrum Asset Management LLP lowered its stake in shares of Matador Resources Company (NYSE:MTDR) by 34.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 20,530 shares of the energy company’s stock after selling 11,028 shares during the quarter. Fulcrum Asset Management LLP’s holdings in Matador Resources were worth $1,041,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the stock. Hsbc Holdings PLC grew its position in shares of Matador Resources by 935.4% during the second quarter. Hsbc Holdings PLC now owns 56,096 shares of the energy company’s stock worth $2,824,000 after buying an additional 50,678 shares in the last quarter. Great Lakes Advisors LLC purchased a new stake in shares of Matador Resources during the second quarter worth approximately $605,000. Quantbot Technologies LP purchased a new stake in shares of Matador Resources during the second quarter worth approximately $3,682,000. BlackRock Inc. purchased a new stake in shares of Matador Resources during the second quarter worth approximately $573,936,000. Finally, Morningstar Investment Management LLC acquired a new stake in Matador Resources in the first quarter valued at approximately $2,630,000. Hedge funds and other institutional investors own 91.98% of the company’s stock.

Analysts Set New Price Targets

MTDR has been the subject of a number of recent research reports. Morgan Stanley lifted their price target on shares of Matador Resources from $66.00 to $69.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 15th. Scotiabank began coverage on shares of Matador Resources in a research report on Thursday, October 15th. They issued a “sector perform” rating and a $59.00 price objective on the stock. Truist Financial increased their price objective on shares of Matador Resources from $65.00 to $66.00 and gave the company a “buy” rating in a research report on Thursday, November 5th. Wells Fargo & Company reduced their price objective on shares of Matador Resources from $77.00 to $76.00 and set an “overweight” rating on the stock in a report on Wednesday, October 14th. Finally, Wall Street Zen raised shares of Matador Resources from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 7th. Eleven research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, Matador Resources currently has an average rating of “Moderate Buy” and an average target price of $68.50.

Matador Resources Stock Performance

Shares of Matador Resources stock opened at $52.10 on Thursday. The firm has a market capitalization of $6.45 billion, a P/E ratio of 8.98 and a beta of 0.93. Matador Resources Company has a 52 week low of $39.55 and a 52 week high of $66.84. The company has a quick ratio of 0.53, a current ratio of 0.55 and a debt-to-equity ratio of 0.67. The firm’s 50 day moving average is $55.78 and its two-hundred day moving average is $54.62.

Matador Resources (NYSE:MTDR) last released its quarterly earnings data on Tuesday, November 3rd. The energy company reported $2.08 earnings per share for the quarter, topping analysts’ consensus estimates of $1.85 by $0.23. Matador Resources had a net margin of 18.60% and a return on equity of 14.32%. The company had revenue of $1.39 billion for the quarter, compared to analysts’ expectations of $1.12 billion. The firm’s revenue for the quarter was up 33.9% on a year-over-year basis. During the same quarter last year, the company earned $1.36 earnings per share. Research analysts forecast that Matador Resources Company will post 8.34 EPS for the current fiscal year.

Matador Resources Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 4th. Investors of record on Tuesday, November 10th will be given a $0.4375 dividend. This represents a $1.75 dividend on an annualized basis and a yield of 3.4%. This is a boost from Matador Resources’s previous quarterly dividend of $0.3750. The ex-dividend date of this dividend is Tuesday, November 10th. Matador Resources’s dividend payout ratio is presently 30.17%.

Insider Buying and Selling

In other news, CFO Christopher P. Calvert bought 2,500 shares of the business’s stock in a transaction dated Thursday, August 27th. The shares were acquired at an average price of $56.64 per share, for a total transaction of $141,600.00. Following the completion of the transaction, the chief financial officer owned 44,000 shares of the company’s stock, valued at approximately $2,492,160. This trade represents a 6.02% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP William Elsener bought 900 shares of the business’s stock in a transaction dated Thursday, November 5th. The shares were purchased at an average price of $51.48 per share, for a total transaction of $46,332.00. Following the transaction, the executive vice president directly owned 115,779 shares of the company’s stock, valued at approximately $5,960,302.92. This represents a 0.78% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have acquired a total of 14,705 shares of company stock valued at $772,016 over the last ninety days. Company insiders own 5.90% of the company’s stock.

Matador Resources Company Profile

Matador Resources Company is an independent energy company engaged in the exploration, development, production and acquisition of oil and natural gas. Its operations are focused primarily on the Delaware Basin in southeastern New Mexico and West Texas. Alongside its exploration and production business, Matador provides midstream services through its subsidiary San Mateo Midstream. These activities include gathering and processing natural gas and handling produced water, supporting the company’s operations and serving other producers in the region.