Matador Resources (NYSE:MTDR) Position Lessened by Harvey Capital Management Inc.

Harvey Capital Management Inc. cut its position in shares of Matador Resources (NYSE:MTDR) by 2.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,095 shares of the energy company’s stock after selling 1,000 shares during the period. Harvey Capital Management Inc.’s holdings in Matador Resources were worth $1,932,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Janney Montgomery Scott LLC acquired a new stake in Matador Resources in the first quarter valued at approximately $828,000. Prevail Innovative Wealth Advisors LLC raised its holdings in Matador Resources by 28.6% during the first quarter. Prevail Innovative Wealth Advisors LLC now owns 37,163 shares of the energy company’s stock valued at $2,481,000 after buying an additional 8,254 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of 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 buying an additional 53,322 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Matador Resources by 0.9% during the 1st 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. Finally, SG Americas Securities LLC increased its holdings in shares of Matador Resources by 1,166.1% during the 1st quarter. SG Americas Securities LLC now owns 31,172 shares of the energy company’s stock valued at $2,081,000 after acquiring an additional 28,710 shares during the last quarter. 91.98% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, EVP Bryan A. Erman acquired 1,000 shares of the firm’s stock in a transaction on Friday, September 6th. The shares were bought at an average cost of $50.35 per share, with a total value of $50,350.00. Following the completion of the acquisition, the executive vice president now owns 2,750 shares of the company’s stock, valued at $138,462.50. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, EVP Bryan A. Erman bought 1,000 shares of Matador Resources stock in a transaction dated Friday, September 6th. The shares were bought at an average price of $50.35 per share, for a total transaction of $50,350.00. Following the purchase, the executive vice president now owns 2,750 shares of the company’s stock, valued at approximately $138,462.50. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Joseph Wm Foran bought 2,500 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The shares were purchased at an average price of $51.47 per share, with a total value of $128,675.00. Following the transaction, the chief executive officer now directly owns 37,751 shares in the company, valued at $1,943,043.97. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired a total of 11,105 shares of company stock worth $562,306 over the last quarter. Company insiders own 6.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on MTDR. Royal Bank of Canada restated an “outperform” rating and issued a $70.00 target price on shares of Matador Resources in a report on Thursday, October 24th. JPMorgan Chase & Co. decreased their price objective on shares of Matador Resources from $77.00 to $71.00 and set an “overweight” rating for the company in a report on Wednesday. Stephens lifted 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. Truist Financial decreased their price target 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. Finally, Capital One Financial upgraded Matador Resources from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $80.00 to $84.00 in a research note on Thursday, July 25th. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $74.92.

Matador Resources Stock Performance

Shares of NYSE:MTDR traded down $0.52 during trading on Friday, hitting $51.59. 1,665,834 shares of the stock were exchanged, compared to its average volume of 1,825,418. The company has a market capitalization of $6.44 billion, a price-to-earnings ratio of 6.83 and a beta of 3.26. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.84 and a current ratio of 0.88. Matador Resources has a 1-year low of $47.15 and a 1-year high of $71.08. The company’s fifty day simple moving average is $52.23 and its 200-day simple moving average is $57.52.

Matador Resources (NYSE:MTDR) last posted its quarterly earnings results on Tuesday, October 22nd. The energy company reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $836.69 million. During the same quarter in the previous year, the company earned $1.86 earnings per share. The business’s revenue was up 9.8% compared to the same quarter last year. Sell-side analysts expect that Matador Resources will post 7.45 EPS for the current fiscal year.

Matador Resources Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 15th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.94%. The ex-dividend date of this dividend is Friday, November 15th. This is a positive change from Matador Resources’s previous quarterly dividend of $0.20. Matador Resources’s dividend payout ratio is 10.60%.

Matador Resources Company 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.