Avior Wealth Management LLC Boosts Stock Position in Matador Resources (NYSE:MTDR)

Avior Wealth Management LLC lifted its position in Matador Resources (NYSE:MTDR) by 329.0% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 828 shares of the energy company’s stock after buying an additional 635 shares during the period. Avior Wealth Management LLC’s holdings in Matador Resources were worth $41,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Denver PWM LLC purchased a new stake in shares of Matador Resources during the 2nd quarter valued at $27,000. Quarry LP raised its stake in 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 acquiring an additional 251 shares during the last quarter. Advisors Asset Management Inc. grew its stake in 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 purchasing an additional 466 shares during the last quarter. Covestor Ltd increased its holdings in shares of Matador Resources by 154.8% in the third quarter. Covestor Ltd now owns 1,060 shares of the energy company’s stock valued at $52,000 after purchasing an additional 644 shares during the period. Finally, GAMMA Investing LLC raised its stake in shares of Matador Resources by 28.7% in the third quarter. GAMMA Investing LLC now owns 1,403 shares of the energy company’s stock worth $69,000 after purchasing an additional 313 shares during the last quarter. Hedge funds and other institutional investors own 91.98% of the company’s stock.

Insiders Place Their Bets

In other Matador Resources news, CFO Brian J. Willey acquired 1,500 shares of the business’s stock in a transaction on Friday, September 6th. The stock was bought at an average price of $50.50 per share, for a total transaction of $75,750.00. Following the acquisition, the chief financial officer now owns 1,500 shares in the company, valued at approximately $75,750. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Robert T. Macalik bought 500 shares of the stock in a transaction dated Friday, September 6th. The shares were bought at an average price of $50.25 per share, for a total transaction of $25,125.00. Following the completion of the acquisition, the chief accounting officer now owns 29,800 shares in the company, valued at approximately $1,497,450. The trade was a 1.71 % 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 in the last 90 days. 6.10% of the stock is owned by insiders.

Analyst Ratings Changes

MTDR has been the topic of several research reports. 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. Royal Bank of Canada reissued an “outperform” rating and set a $70.00 target price on shares of Matador Resources in a report on Thursday, October 24th. Stephens upped their price target on shares of Matador Resources from $76.00 to $78.00 and gave the company an “overweight” rating in a report on Monday, October 21st. Benchmark reiterated a “buy” rating and set a $62.00 price objective on shares of Matador Resources in a research note on Wednesday, October 23rd. Finally, KeyCorp lowered their target price 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. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $74.92.

Matador Resources Stock Performance

MTDR opened at $59.19 on Tuesday. The company has a market cap of $7.39 billion, a price-to-earnings ratio of 7.84 and a beta of 3.26. The firm’s fifty day simple moving average is $53.66 and its two-hundred day simple moving average is $56.71. 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 52-week low of $47.15 and a 52-week high of $71.08.

Matador Resources (NYSE:MTDR) last posted its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $836.69 million. During the same period in the previous year, the firm posted $1.86 EPS. Matador Resources’s revenue was up 9.8% compared to the same quarter last year. Equities analysts anticipate that Matador Resources will post 7.5 earnings per share for the current fiscal year.

Matador Resources Increases Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.00 dividend on an annualized basis and a yield of 1.69%. This is a positive change from Matador Resources’s previous quarterly dividend of $0.20. Matador Resources’s dividend payout ratio (DPR) is presently 13.25%.

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.