True Wealth Design LLC Acquires Shares of 749 Matador Resources (NYSE:MTDR)

True Wealth Design LLC purchased a new stake in Matador Resources (NYSE:MTDR) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 749 shares of the energy company’s stock, valued at approximately $37,000.

Other institutional investors also recently modified their holdings of the company. Loomis Sayles & Co. L P raised its holdings in Matador Resources by 16.8% during the 3rd quarter. Loomis Sayles & Co. L P now owns 455,662 shares of the energy company’s stock valued at $22,519,000 after acquiring an additional 65,487 shares during the period. DekaBank Deutsche Girozentrale raised its stake in shares of Matador Resources by 304.1% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 13,288 shares of the energy company’s stock valued at $863,000 after purchasing an additional 10,000 shares during the period. Amalgamated Bank raised its stake in shares of Matador Resources by 25.5% during the 2nd quarter. Amalgamated Bank now owns 73,025 shares of the energy company’s stock valued at $4,352,000 after purchasing an additional 14,850 shares during the period. American Century Companies Inc. lifted its holdings in Matador Resources by 2.9% during the 2nd quarter. American Century Companies Inc. now owns 561,671 shares of the energy company’s stock worth $33,476,000 after purchasing an additional 15,835 shares in the last quarter. Finally, Hsbc Holdings PLC boosted its stake in Matador Resources by 686.2% in the 2nd quarter. Hsbc Holdings PLC now owns 73,978 shares of the energy company’s stock worth $4,432,000 after purchasing an additional 64,568 shares during the period. 91.98% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $70.00 price target on shares of Matador Resources in a report on Thursday, October 24th. Benchmark reissued a “buy” rating and issued a $62.00 price target on shares of Matador Resources in a report on Wednesday, October 23rd. Wells Fargo & Company reduced 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. Stephens increased their price objective on Matador Resources from $76.00 to $78.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. Finally, KeyCorp reduced their target price on Matador Resources from $76.00 to $72.00 and set an “overweight” rating for the company in a research report on Wednesday, October 16th. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, Matador Resources has a consensus rating of “Moderate Buy” and a consensus price target of $74.92.

Insider Activity at Matador Resources

In other news, CAO Robert T. Macalik purchased 500 shares of the company’s stock in a transaction on Friday, September 6th. The stock was acquired at an average price of $50.25 per share, with a total value of $25,125.00. Following the transaction, the chief accounting officer now directly owns 29,800 shares of the company’s stock, valued at approximately $1,497,450. This represents a 1.71 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Joseph Wm Foran purchased 2,500 shares of the business’s stock in a transaction on Friday, September 6th. The stock was purchased at an average cost of $51.47 per share, for a total transaction of $128,675.00. Following the acquisition, 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 ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased 11,105 shares of company stock worth $562,306 in the last ninety days. 6.10% of the stock is owned by company insiders.

Matador Resources Stock Up 0.8 %

Shares of NYSE MTDR opened at $60.01 on Monday. The stock has a market capitalization of $7.49 billion, a P/E ratio of 7.95 and a beta of 3.26. Matador Resources has a one year low of $47.15 and a one year high of $71.08. The firm’s 50 day simple moving average is $54.25 and its two-hundred day simple moving average is $56.65. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.88 and a quick ratio of 0.84.

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

Matador Resources Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 15th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date of this dividend is Friday, November 15th. This is a positive change from Matador Resources’s previous quarterly dividend of $0.20. 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.