Congress Asset Management Co. Sells 1,046 Shares of Matador Resources (NYSE:MTDR)

Congress Asset Management Co. reduced its position in shares of Matador Resources (NYSE:MTDR) by 1.0% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 105,955 shares of the energy company’s stock after selling 1,046 shares during the quarter. Congress Asset Management Co.’s holdings in Matador Resources were worth $5,236,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Covestor Ltd grew its position in Matador Resources by 121.4% during the first quarter. Covestor Ltd now owns 414 shares of the energy company’s stock valued at $28,000 after buying an additional 227 shares during the period. Denver PWM LLC purchased a new position in shares of Matador Resources during the 2nd quarter worth $27,000. Advisors Asset Management Inc. grew its position in shares of Matador Resources by 191.8% during the 1st quarter. Advisors Asset Management Inc. now owns 709 shares of the energy company’s stock valued at $47,000 after acquiring an additional 466 shares during the period. Quarry LP increased its stake in shares of Matador Resources by 47.5% in the 2nd quarter. Quarry LP now owns 779 shares of the energy company’s stock worth $46,000 after purchasing an additional 251 shares in the last quarter. Finally, Fidelis Capital Partners LLC bought a new position in Matador Resources in the 1st quarter worth $73,000. 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 several recent research reports. BMO Capital Markets boosted their price target on Matador Resources from $75.00 to $78.00 and gave the company an “outperform” rating in a report on Friday, October 4th. KeyCorp cut their price objective on Matador Resources from $76.00 to $72.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. Capital One Financial upgraded shares of Matador Resources from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $80.00 to $84.00 in a research note on Thursday, July 25th. Wells Fargo & Company dropped their price target on shares of Matador Resources from $89.00 to $87.00 and set an “overweight” rating for the company in a research report on Tuesday, October 1st. Finally, TD Cowen raised their price objective on shares of Matador Resources from $85.00 to $87.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Two investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $74.92.

Matador Resources Stock Down 1.0 %

MTDR opened at $51.59 on Friday. Matador Resources has a 52 week low of $47.15 and a 52 week high of $71.08. 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 firm has a 50-day simple moving average of $52.34 and a two-hundred day simple moving average of $57.70. The company has a market capitalization of $6.44 billion, a PE ratio of 6.83 and a beta of 3.26.

Matador Resources (NYSE:MTDR) last announced its quarterly earnings results on Tuesday, October 22nd. The energy company reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.78 by $0.11. Matador Resources had a return on equity of 20.01% and a net margin of 27.45%. The company had revenue of $770.20 million during the quarter, compared to analyst estimates of $836.69 million. During the same period in the prior year, the company earned $1.86 earnings per share. The firm’s revenue was up 9.8% on a year-over-year basis. Analysts forecast that Matador Resources will post 7.45 earnings per share 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 boost from Matador Resources’s previous quarterly dividend of $0.20. Matador Resources’s payout ratio is currently 10.60%.

Insider Activity at Matador Resources

In other Matador Resources news, CAO Robert T. Macalik acquired 500 shares of the company’s stock in a transaction on Friday, September 6th. The stock was acquired at an average cost of $50.25 per share, with a total value of $25,125.00. Following the purchase, the chief accounting officer now directly owns 29,800 shares of the company’s stock, valued at approximately $1,497,450. This represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, EVP Glenn W. Stetson purchased 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The shares were bought at an average price of $51.33 per share, for a total transaction of $51,330.00. Following the acquisition, the executive vice president now owns 85,935 shares of the company’s stock, valued at approximately $4,411,043.55. This represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Robert T. Macalik acquired 500 shares of the company’s stock in a transaction on Friday, September 6th. The shares were purchased at an average cost 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 of the company’s stock, valued at $1,497,450. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired a total of 11,105 shares of company stock valued at $562,306 over the last 90 days. 6.10% of the stock is owned by corporate 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.