Oppenheimer Asset Management Inc. Sells 6,604 Shares of Matador Resources (NYSE:MTDR)

Oppenheimer Asset Management Inc. trimmed its position in shares of Matador Resources (NYSE:MTDR) by 26.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,070 shares of the energy company’s stock after selling 6,604 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Matador Resources were worth $893,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MTDR. Denver PWM LLC bought a new position in Matador Resources during the second quarter valued at about $27,000. Covestor Ltd increased its stake 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 acquiring an additional 227 shares during the period. Quarry LP boosted its holdings in Matador Resources by 47.5% during the second quarter. Quarry LP now owns 779 shares of the energy company’s stock valued at $46,000 after purchasing an additional 251 shares in the last quarter. Advisors Asset Management Inc. boosted its holdings in Matador Resources by 191.8% during the first quarter. Advisors Asset Management Inc. now owns 709 shares of the energy company’s stock valued at $47,000 after purchasing an additional 466 shares in the last quarter. Finally, GAMMA Investing LLC boosted its holdings in Matador Resources by 28.7% during the third quarter. GAMMA Investing LLC now owns 1,403 shares of the energy company’s stock valued at $69,000 after purchasing an additional 313 shares in the last quarter. 91.98% of the stock is currently owned by institutional investors.

Matador Resources Trading Up 2.3 %

NYSE MTDR opened at $58.84 on Tuesday. Matador Resources has a 12 month low of $47.15 and a 12 month high of $71.08. The stock has a 50-day simple moving average of $52.68 and a 200 day simple moving average of $56.88. The company has a market capitalization of $7.34 billion, a PE ratio of 7.79 and a beta of 3.26. The company has a current ratio of 0.88, a quick ratio of 0.84 and a debt-to-equity ratio of 0.71.

Matador Resources (NYSE:MTDR) last announced its quarterly earnings results on Tuesday, October 22nd. The energy company reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate 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 the consensus estimate of $836.69 million. During the same period in the prior year, the company earned $1.86 earnings per share. The company’s revenue for the quarter was up 9.8% compared to the same quarter last year. Research analysts forecast that Matador Resources will post 7.5 EPS for the current year.

Matador Resources Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 15th will be issued a $0.25 dividend. This is an increase from Matador Resources’s previous quarterly dividend of $0.20. This represents a $1.00 annualized dividend and a dividend yield of 1.70%. The ex-dividend date is Friday, November 15th. Matador Resources’s dividend payout ratio is 10.60%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on MTDR shares. JPMorgan Chase & Co. decreased their price objective on Matador Resources from $77.00 to $71.00 and set an “overweight” rating on the stock in a report on Wednesday, October 30th. Benchmark restated a “buy” rating and set a $62.00 price target on shares of Matador Resources in a research report on Wednesday, October 23rd. Wells Fargo & Company dropped their price target on Matador Resources from $89.00 to $87.00 and set an “overweight” rating for the company in a report on Tuesday, October 1st. KeyCorp reduced their price objective on Matador Resources from $76.00 to $72.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 16th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $70.00 price objective on shares of Matador Resources in a research note on Thursday, October 24th. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, Matador Resources presently has an average rating of “Moderate Buy” and an average price target of $74.92.

Insiders Place Their Bets

In other news, CFO Brian J. Willey acquired 1,500 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The stock was acquired at an average cost of $50.50 per share, for a total transaction of $75,750.00. Following the completion of the acquisition, the chief financial officer now owns 1,500 shares in the company, valued at $75,750. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Bryan A. Erman acquired 1,000 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The shares were purchased at an average price 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 represents a 57.14 % increase in their position. The disclosure for this purchase can be found here. Insiders acquired 11,105 shares of company stock worth $562,306 over the last ninety days. 6.10% of the stock is currently 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.