Raymond James Trust N.A. Grows Position in Matador Resources (NYSE:MTDR)

Raymond James Trust N.A. raised its holdings in Matador Resources (NYSE:MTDR) by 44.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,226 shares of the energy company’s stock after purchasing an additional 2,512 shares during the period. Raymond James Trust N.A.’s holdings in Matador Resources were worth $407,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Denver PWM LLC purchased a new position in Matador Resources in the 2nd quarter valued at approximately $27,000. Avior Wealth Management LLC boosted its holdings in shares of Matador Resources by 329.0% in the third quarter. Avior Wealth Management LLC now owns 828 shares of the energy company’s stock worth $41,000 after acquiring an additional 635 shares during the period. Quarry LP grew its position in shares of Matador Resources by 47.5% in 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. lifted its holdings in Matador Resources by 191.8% during the 1st quarter. Advisors Asset Management Inc. now owns 709 shares of the energy company’s stock worth $47,000 after purchasing an additional 466 shares in the last quarter. Finally, Covestor Ltd boosted its stake in Matador Resources by 154.8% in the 3rd quarter. Covestor Ltd now owns 1,060 shares of the energy company’s stock worth $52,000 after purchasing an additional 644 shares during the period. Institutional investors own 91.98% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on MTDR. JPMorgan Chase & Co. lowered their price target on shares of Matador Resources from $77.00 to $71.00 and set an “overweight” rating on the stock in a report on Wednesday, October 30th. Mizuho lowered their target price on shares of Matador Resources from $85.00 to $74.00 and set an “outperform” rating on the stock in a research note on Monday, September 16th. KeyCorp cut their price target on shares of Matador Resources from $76.00 to $72.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th. Truist Financial decreased 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. Finally, Stephens lifted their price objective on Matador Resources from $76.00 to $78.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $74.92.

Insider Activity

In other Matador Resources news, CFO Brian J. Willey purchased 1,500 shares of the stock in a transaction on Friday, September 6th. The stock was acquired at an average price of $50.50 per share, with a total value of $75,750.00. Following the transaction, the chief financial officer now directly owns 1,500 shares of the company’s stock, valued at approximately $75,750. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Joseph Wm Foran acquired 2,500 shares of the business’s stock in a transaction dated Friday, September 6th. The stock was acquired at an average price of $51.47 per share, for a total transaction of $128,675.00. Following the completion of the transaction, the chief executive officer now owns 37,751 shares in the company, valued at approximately $1,943,043.97. The trade was a 7.09 % increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 11,105 shares of company stock valued at $562,306. 6.10% of the stock is currently owned by company insiders.

Matador Resources Price Performance

Shares of Matador Resources stock opened at $58.85 on Wednesday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.84 and a current ratio of 0.88. Matador Resources has a 52-week low of $47.15 and a 52-week high of $71.08. The company has a fifty day moving average of $53.66 and a 200-day moving average of $56.71. The stock has a market capitalization of $7.34 billion, a price-to-earnings ratio of 7.79 and a beta of 3.26.

Matador Resources (NYSE:MTDR) last announced its quarterly earnings data on Tuesday, October 22nd. The energy company reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.78 by $0.11. The firm had revenue of $770.20 million for the quarter, compared to analysts’ expectations of $836.69 million. Matador Resources had a return on equity of 20.01% and a net margin of 27.45%. The company’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period last year, the firm earned $1.86 earnings per share. Equities research analysts expect that Matador Resources will post 7.5 EPS for the current year.

Matador Resources Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 15th will be paid a $0.25 dividend. This is a boost 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 payout ratio is 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.