HITE Hedge Asset Management LLC Makes New $10.53 Million Investment in Matador Resources (NYSE:MTDR)

HITE Hedge Asset Management LLC bought a new position in Matador Resources (NYSE:MTDR) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 212,984 shares of the energy company’s stock, valued at approximately $10,526,000. HITE Hedge Asset Management LLC owned about 0.17% of Matador Resources as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MTDR. Securian Asset Management Inc. lifted its stake in Matador Resources by 1.9% in the second quarter. Securian Asset Management Inc. now owns 9,255 shares of the energy company’s stock valued at $552,000 after acquiring an additional 170 shares during the last quarter. Raymond James Trust N.A. lifted its holdings in shares of Matador Resources by 3.6% in the second quarter. Raymond James Trust N.A. now owns 5,714 shares of the energy company’s stock worth $341,000 after buying an additional 198 shares in the last quarter. ClearAlpha Technologies LP grew its holdings in shares of Matador Resources by 4.3% in the third quarter. ClearAlpha Technologies LP now owns 5,250 shares of the energy company’s stock worth $259,000 after purchasing an additional 218 shares during the last quarter. Fifth Third Bancorp lifted its position in Matador Resources by 16.6% during the second quarter. Fifth Third Bancorp now owns 1,709 shares of the energy company’s stock valued at $102,000 after buying an additional 243 shares during the period. Finally, Quarry LP raised its position 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 buying an additional 251 shares during the last quarter. Institutional investors and hedge funds own 91.98% of the company’s stock.

Matador Resources Stock Down 1.9 %

NYSE MTDR opened at $58.89 on Tuesday. The stock has a market capitalization of $7.35 billion, a PE ratio of 7.80 and a beta of 3.26. Matador Resources has a fifty-two week low of $47.15 and a fifty-two week high of $71.08. The business has a fifty day moving average price of $54.38 and a two-hundred day moving average price of $56.58. 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 announced its quarterly earnings data on Tuesday, October 22nd. The energy company reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.78 by $0.11. The business had revenue of $770.20 million for the quarter, compared to analysts’ expectations of $836.69 million. Matador Resources had a net margin of 27.45% and a return on equity of 20.01%. The business’s revenue was up 9.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.86 earnings per share. Equities analysts expect that Matador Resources will post 7.5 earnings per share for the current fiscal year.

Matador Resources Increases Dividend

The business 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 dividend of $0.25 per share. The ex-dividend date is Friday, November 15th. This represents a $1.00 dividend on an annualized basis and a yield of 1.70%. This is a boost from Matador Resources’s previous quarterly dividend of $0.20. Matador Resources’s dividend payout ratio (DPR) is presently 13.25%.

Analyst Ratings Changes

MTDR has been the topic of a number of recent research reports. KeyCorp dropped their price target on Matador Resources from $76.00 to $72.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 16th. Royal Bank of Canada reiterated an “outperform” rating and issued a $70.00 target price on shares of Matador Resources in a research note on Thursday, October 24th. Benchmark reissued a “buy” rating and set a $62.00 price target on shares of Matador Resources in a research report on Wednesday, October 23rd. BMO Capital Markets upped their price target on shares of Matador Resources from $75.00 to $78.00 and gave the company an “outperform” rating in a research note on Friday, October 4th. Finally, Wells Fargo & Company cut their price target on shares of Matador Resources from $89.00 to $87.00 and set an “overweight” rating on the stock in a report on Tuesday, October 1st. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $74.92.

Insiders Place Their Bets

In other news, CAO Robert T. Macalik acquired 500 shares of the firm’s stock in a transaction dated Friday, September 6th. The shares were bought at an average price of $50.25 per share, with a total value of $25,125.00. Following the acquisition, the chief accounting officer now owns 29,800 shares of the company’s stock, valued at $1,497,450. This trade represents a 1.71 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Bryan A. Erman bought 1,000 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was acquired at an average cost of $50.35 per share, with a total value of $50,350.00. Following the completion of the purchase, the executive vice president now owns 2,750 shares of the company’s stock, valued at approximately $138,462.50. This trade represents a 57.14 % increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 11,105 shares of company stock worth $562,306. Corporate insiders own 6.10% of the company’s stock.

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.