ClearAlpha Technologies LP Purchases 218 Shares of Matador Resources (NYSE:MTDR)

ClearAlpha Technologies LP lifted its position in shares of Matador Resources (NYSE:MTDR) by 4.3% during the 3rd quarter, HoldingsChannel reports. The fund owned 5,250 shares of the energy company’s stock after purchasing an additional 218 shares during the period. ClearAlpha Technologies LP’s holdings in Matador Resources were worth $259,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of MTDR. Securian Asset Management Inc. boosted its stake in shares of Matador Resources by 1.9% during the second quarter. Securian Asset Management Inc. now owns 9,255 shares of the energy company’s stock valued at $552,000 after purchasing an additional 170 shares in the last quarter. Raymond James Trust N.A. boosted 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 during the period. Fifth Third Bancorp boosted its position in Matador Resources by 16.6% during the 2nd quarter. Fifth Third Bancorp now owns 1,709 shares of the energy company’s stock worth $102,000 after buying an additional 243 shares during the period. Quarry LP grew its holdings in Matador Resources by 47.5% during the 2nd quarter. Quarry LP now owns 779 shares of the energy company’s stock worth $46,000 after acquiring an additional 251 shares during the last quarter. Finally, Greenleaf Trust increased its position in Matador Resources by 3.8% in the 3rd quarter. Greenleaf Trust now owns 7,086 shares of the energy company’s stock valued at $350,000 after acquiring an additional 260 shares during the period. Institutional investors own 91.98% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on MTDR shares. Truist Financial cut their price target on shares of Matador Resources from $86.00 to $75.00 and set a “buy” rating on the stock in a report on Monday, September 30th. Wells Fargo & Company cut their target price on Matador Resources from $89.00 to $87.00 and set an “overweight” rating on the stock in a report on Tuesday, October 1st. JPMorgan Chase & Co. decreased their price target on Matador Resources from $77.00 to $71.00 and set an “overweight” rating for the company in a research note on Wednesday, October 30th. Stephens lifted their price objective on Matador Resources from $76.00 to $78.00 and gave the stock an “overweight” rating in a research note on Monday, October 21st. Finally, BMO Capital Markets increased their target price on shares of Matador Resources from $75.00 to $78.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. Two equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Matador Resources presently has an average rating of “Moderate Buy” and a consensus target price of $74.92.

Insiders Place Their Bets

In other Matador Resources news, CFO Brian J. Willey bought 1,500 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was bought at an average cost of $50.50 per share, with a total value of $75,750.00. Following the completion of the transaction, the chief financial officer now directly owns 1,500 shares in the company, valued at approximately $75,750. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Bryan A. Erman purchased 1,000 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The stock was acquired at an average cost of $50.35 per share, for a total transaction of $50,350.00. Following the transaction, the executive vice president now owns 2,750 shares in the company, valued at $138,462.50. This represents a 57.14 % increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 11,105 shares of company stock worth $562,306. Corporate insiders own 6.10% of the company’s stock.

Matador Resources Stock Performance

NYSE:MTDR opened at $58.89 on Tuesday. The company has a quick ratio of 0.84, a current ratio of 0.88 and a debt-to-equity ratio of 0.71. Matador Resources has a twelve month low of $47.15 and a twelve month high of $71.08. The company has a fifty day moving average of $54.25 and a 200-day moving average of $56.60. The firm has a market capitalization of $7.35 billion, a P/E ratio of 7.80 and a beta of 3.26.

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, beating the consensus estimate of $1.78 by $0.11. The firm had revenue of $770.20 million during the quarter, compared to the consensus estimate 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 previous year, the firm posted $1.86 earnings per share. As a group, sell-side analysts anticipate that Matador Resources will post 7.5 EPS for the current year.

Matador Resources Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 15th will be paid a dividend of $0.25 per share. This is an increase from Matador Resources’s previous quarterly dividend of $0.20. This represents a $1.00 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date is Friday, November 15th. Matador Resources’s dividend payout ratio is 13.25%.

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.