Harvest Investment Services LLC lowered its stake in shares of Matador Resources (NYSE:MTDR – Get Rating) by 8.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 36,416 shares of the energy company's stock after selling 3,226 shares during the quarter. Matador Resources accounts for 1.3% of Harvest Investment Services LLC's investment portfolio, making the stock its 25th largest holding. Harvest Investment Services LLC's holdings in Matador Resources were worth $1,696,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Private Ocean LLC bought a new position in Matador Resources in the 1st quarter valued at $27,000. Exchange Traded Concepts LLC purchased a new position in Matador Resources in the first quarter valued at about $31,000. Van ECK Associates Corp bought a new position in shares of Matador Resources during the 1st quarter valued at approximately $67,000. Archer Investment Corp purchased a new stake in shares of Matador Resources during the 1st quarter worth approximately $74,000. Finally, Mark Sheptoff Financial Planning LLC bought a new stake in shares of Matador Resources in the 1st quarter worth approximately $98,000. 88.32% of the stock is owned by hedge funds and other institutional investors.
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Matador Resources Price Performance
Matador Resources stock traded up $0.19 during midday trading on Tuesday, reaching $45.60. 30,145 shares of the stock were exchanged, compared to its average volume of 1,141,023. Matador Resources has a 52 week low of $33.49 and a 52 week high of $67.78. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.29 and a current ratio of 1.31. The firm has a market cap of $5.39 billion, a PE ratio of 5.21 and a beta of 3.64. The company's fifty day moving average is $56.49 and its 200-day moving average is $54.27.
Matador Resources (NYSE:MTDR – Get Rating) last released its quarterly earnings results on Tuesday, July 26th. The energy company reported $3.47 EPS for the quarter, beating analysts' consensus estimates of $3.16 by $0.31. The firm had revenue of $943.93 million during the quarter, compared to analyst estimates of $829.21 million. Matador Resources had a net
margin of 40.86% and a return on equity of 43.58%. During the same period in the previous year, the business earned $1.02 EPS. On average, sell-side analysts forecast that Matador Resources will post 11.16 EPS for the current year.
Matador Resources Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 1st. Shareholders of record on Wednesday, August 17th were issued a $0.10 dividend. The ex-dividend date was Tuesday, August 16th. This represents a $0.40 annualized dividend and a dividend yield of 0.88%. This is a boost from Matador Resources's previous quarterly dividend of $0.05. Matador Resources's dividend payout ratio (DPR) is presently 4.59%.
Analysts Set New Price Targets
MTDR has been the subject of several research reports. KeyCorp assumed coverage on Matador Resources in a report on Monday, September 19th. They set an "overweight" rating and a $72.00 price objective for the company. MKM Partners reaffirmed a "buy" rating and set a $68.00 price objective on shares of Matador Resources in a report on Wednesday, September 21st. Finally, Raymond James reduced their target price on shares of Matador Resources from $70.00 to $60.00 and set an "outperform" rating for the company in a research note on Monday. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $62.22.
Matador Resources Company Profile
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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.
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