EMC Capital Management Reduces Stock Holdings in Matador Resources Company $MTDR

EMC Capital Management lowered its stake in Matador Resources Company (NYSE:MTDR) by 24.1% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 5,347 shares of the energy company’s stock after selling 1,695 shares during the quarter. EMC Capital Management’s holdings in Matador Resources were worth $255,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Private Advisor Group LLC boosted its stake in shares of Matador Resources by 1.9% during the 1st quarter. Private Advisor Group LLC now owns 49,457 shares of the energy company’s stock valued at $2,527,000 after purchasing an additional 932 shares in the last quarter. Teachers Retirement System of The State of Kentucky boosted its position in Matador Resources by 2.3% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 71,950 shares of the energy company’s stock valued at $3,676,000 after acquiring an additional 1,619 shares in the last quarter. Allianz Asset Management GmbH grew its holdings in shares of Matador Resources by 71.7% during the 1st quarter. Allianz Asset Management GmbH now owns 10,300 shares of the energy company’s stock worth $526,000 after acquiring an additional 4,300 shares during the period. HighPoint Advisor Group LLC grew its holdings in shares of Matador Resources by 14.6% during the 1st quarter. HighPoint Advisor Group LLC now owns 8,728 shares of the energy company’s stock worth $446,000 after acquiring an additional 1,110 shares during the period. Finally, Y Intercept Hong Kong Ltd raised its position in shares of Matador Resources by 522.5% in the 1st quarter. Y Intercept Hong Kong Ltd now owns 32,954 shares of the energy company’s stock worth $1,684,000 after acquiring an additional 27,660 shares in the last quarter. 91.98% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Matador Resources

In other Matador Resources news, CEO Joseph Wm Foran bought 1,000 shares of Matador Resources stock in a transaction on Thursday, November 6th. The stock was acquired at an average price of $38.14 per share, with a total value of $38,140.00. Following the acquisition, the chief executive officer owned 23,867 shares in the company, valued at approximately $910,287.38. This trade represents a 4.37% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Robert T. Macalik purchased 1,500 shares of the stock in a transaction dated Thursday, November 6th. The shares were acquired at an average cost of $38.25 per share, for a total transaction of $57,375.00. Following the completion of the acquisition, the executive vice president owned 35,039 shares of the company’s stock, valued at approximately $1,340,241.75. This represents a 4.47% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last quarter, insiders bought 41,726 shares of company stock worth $1,674,234. Insiders own 5.80% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Weiss Ratings restated a “hold (c-)” rating on shares of Matador Resources in a research report on Tuesday, October 14th. Wells Fargo & Company reduced their target price on shares of Matador Resources from $71.00 to $61.00 and set an “overweight” rating on the stock in a research report on Friday, October 24th. William Blair assumed coverage on shares of Matador Resources in a research note on Monday, August 25th. They issued an “outperform” rating for the company. Mizuho dropped their price objective on shares of Matador Resources from $69.00 to $67.00 and set an “outperform” rating on the stock in a research note on Friday, October 10th. Finally, UBS Group decreased their target price on shares of Matador Resources from $48.00 to $46.00 and set a “neutral” rating for the company in a research note on Thursday, October 23rd. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, Matador Resources presently has an average rating of “Moderate Buy” and an average target price of $63.57.

Matador Resources Stock Performance

Shares of Matador Resources stock opened at $41.18 on Wednesday. Matador Resources Company has a 1 year low of $35.19 and a 1 year high of $64.04. The firm’s 50-day moving average is $43.17 and its 200 day moving average is $46.19. The stock has a market cap of $5.12 billion, a price-to-earnings ratio of 6.58 and a beta of 1.35. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.73 and a quick ratio of 0.69.

Matador Resources (NYSE:MTDR) last issued its earnings results on Tuesday, October 21st. The energy company reported $1.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.22 by $0.14. The business had revenue of $915.12 million during the quarter, compared to analysts’ expectations of $893.22 million. Matador Resources had a net margin of 20.46% and a return on equity of 14.80%. The business’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same period in the previous year, the company earned $1.89 earnings per share. Sell-side analysts anticipate that Matador Resources Company will post 8.53 EPS for the current fiscal year.

Matador Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 5th. Investors of record on Monday, November 10th will be given a $0.375 dividend. This is a boost from Matador Resources’s previous quarterly dividend of $0.31. The ex-dividend date of this dividend is Monday, November 10th. This represents a $1.50 annualized dividend and a yield of 3.6%. Matador Resources’s payout ratio is currently 23.96%.

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.