Envestnet Asset Management Inc. Purchases 24,323 Shares of Matador Resources Company $MTDR

Envestnet Asset Management Inc. grew its position in Matador Resources Company (NYSE:MTDR) by 8.0% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 329,226 shares of the energy company’s stock after purchasing an additional 24,323 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Matador Resources were worth $15,711,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. D.A. Davidson & CO. bought a new stake in Matador Resources during the first quarter valued at about $263,000. Teacher Retirement System of Texas bought a new position in Matador Resources in the first quarter worth about $885,000. OneDigital Investment Advisors LLC purchased a new stake in shares of Matador Resources during the first quarter valued at about $200,000. Penserra Capital Management LLC boosted its holdings in shares of Matador Resources by 89.9% in the 1st quarter. Penserra Capital Management LLC now owns 15,570 shares of the energy company’s stock valued at $795,000 after buying an additional 7,369 shares in the last quarter. Finally, M&T Bank Corp boosted its holdings in shares of Matador Resources by 27.7% in the 1st quarter. M&T Bank Corp now owns 14,341 shares of the energy company’s stock valued at $732,000 after buying an additional 3,107 shares in the last quarter. Hedge funds and other institutional investors own 91.98% of the company’s stock.

Matador Resources Trading Up 2.1%

NYSE MTDR opened at $37.96 on Friday. The company has a fifty day simple moving average of $44.58 and a two-hundred day simple moving average of $46.14. The stock has a market cap of $4.72 billion, a P/E ratio of 6.06 and a beta of 1.35. Matador Resources Company has a 12-month low of $35.19 and a 12-month high of $64.04. The company has a current ratio of 0.73, a quick ratio of 0.69 and a debt-to-equity ratio of 0.55.

Matador Resources (NYSE:MTDR) last announced its quarterly earnings data on Tuesday, October 21st. The energy company reported $1.36 earnings per share for the quarter, beating analysts’ consensus estimates of $1.22 by $0.14. Matador Resources had a net margin of 20.46% and a return on equity of 14.80%. The firm had revenue of $939.02 million for the quarter, compared to analyst estimates of $893.22 million. During the same period in the previous year, the company earned $1.89 earnings per share. The business’s quarterly revenue was up 4.4% compared to the same quarter last year. On average, analysts forecast that Matador Resources Company will post 8.53 earnings per share for the current year.

Matador Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 5th. Stockholders of record on Monday, November 10th will be issued a $0.375 dividend. This is a boost from Matador Resources’s previous quarterly dividend of $0.31. This represents a $1.50 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date of this dividend is Monday, November 10th. Matador Resources’s dividend payout ratio is currently 23.96%.

Insider Transactions at Matador Resources

In other Matador Resources news, Director Susan M. Ward purchased 5,000 shares of Matador Resources stock in a transaction on Monday, November 3rd. The stock was bought at an average cost of $39.04 per share, with a total value of $195,200.00. Following the transaction, the director owned 14,923 shares of the company’s stock, valued at $582,593.92. This represents a 50.39% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Joseph Wm Foran acquired 9,500 shares of the firm’s stock in a transaction on Thursday, October 30th. The shares were acquired at an average price of $39.78 per share, with a total value of $377,910.00. Following the completion of the purchase, the chief executive officer owned 17,525 shares in the company, valued at approximately $697,144.50. This trade represents a 118.38% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders have bought 40,726 shares of company stock valued at $1,652,079. 5.80% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms recently commented on MTDR. Morgan Stanley reduced their price objective on shares of Matador Resources from $62.00 to $61.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 14th. Wells Fargo & Company cut their price target on shares of Matador Resources from $71.00 to $61.00 and set an “overweight” rating on the stock in a report on Friday, October 24th. Bank of America decreased their price objective on Matador Resources from $55.00 to $50.00 and set a “buy” rating for the company in a report on Monday. Royal Bank Of Canada raised their price objective on Matador Resources from $60.00 to $62.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 8th. Finally, Raymond James Financial restated an “outperform” rating and set a $55.00 target price (down from $63.00) on shares of Matador Resources in a research note on Monday, October 20th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $63.57.

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.