Advisory Research Inc. Sells 10,310 Shares of Matador Resources (NYSE:MTDR)

Posted by Defense World Staff on Mar 15th, 2023

Advisory Research Inc. reduced its holdings in Matador Resources (NYSE:MTDR – Get Rating) by 23.8% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 32,934 shares of the energy company’s stock after selling 10,310 shares during the quarter. Advisory Research Inc.’s holdings in Matador Resources were worth $1,611,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Fifth Third Bancorp increased its position in shares of Matador Resources by 104.5% during the 3rd quarter. Fifth Third Bancorp now owns 677 shares of the energy company’s stock valued at $33,000 after purchasing an additional 346 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in shares of Matador Resources by 144.6% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 1,118 shares of the energy company’s stock valued at $55,000 after purchasing an additional 661 shares during the last quarter. Lazard Asset Management LLC bought a new position in shares of Matador Resources during the 2nd quarter valued at about $68,000. Signaturefd LLC increased its position in shares of Matador Resources by 22.7% during the 3rd quarter. Signaturefd LLC now owns 2,038 shares of the energy company’s stock valued at $100,000 after purchasing an additional 377 shares during the last quarter. Finally, Covestor Ltd increased its position in shares of Matador Resources by 1,275.9% during the 1st quarter. Covestor Ltd now owns 2,394 shares of the energy company’s stock valued at $127,000 after purchasing an additional 2,220 shares during the last quarter. 87.00% of the stock is currently owned by institutional investors.

Matador Resources Trading Down 1.0 %

NYSE MTDR opened at $48.42 on Wednesday. Matador Resources has a fifty-two week low of $41.17 and a fifty-two week high of $73.78. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.83 and a current ratio of 1.86. The stock has a 50 day simple moving average of $59.18 and a two-hundred day simple moving average of $60.30. The stock has a market cap of $5.77 billion, a P/E ratio of 4.78 and a beta of 3.55.

Matador Resources (NYSE:MTDR – Get Rating) last released its quarterly earnings data on Wednesday, February 22nd. The energy company reported $2.08 earnings per share for the quarter, topping the consensus estimate of $1.95 by $0.13. Matador Resources had a return on equity of 44.14% and a net margin of 39.71%. The business had revenue of $707.48 million during the quarter, compared to analysts’ expectations of $651.11 million. During the same quarter last year, the business posted $1.26 EPS. On average, analysts forecast that Matador Resources will post 8.72 earnings per share for the current year.

Matador Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 9th. Shareholders of record on Monday, February 27th were issued a $0.15 dividend. The ex-dividend date of this dividend was Friday, February 24th. This represents a $0.60 annualized dividend and a yield of 1.24%. This is a boost from Matador Resources’s previous quarterly dividend of $0.10. Matador Resources’s dividend payout ratio (DPR) is 5.92%.

Analyst Ratings Changes

MTDR has been the topic of several recent research reports. KeyCorp reduced their price objective on Matador Resources from $73.00 to $67.00 in a research report on Monday, February 27th. Truist Financial reduced their price target on Matador Resources from $79.00 to $68.00 and set a “buy” rating on the stock in a research report on Thursday, February 23rd. Royal Bank of Canada restated an “outperform” rating and set a $78.00 price target on shares of Matador Resources in a research report on Thursday, February 23rd. Roth Capital restated a “buy” rating on shares of Matador Resources in a research report on Friday, February 17th. Finally, Mizuho reduced their price target on Matador Resources from $72.00 to $66.00 in a research report on Friday, March 10th. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, Matador Resources presently has an average rating of “Moderate Buy” and an average price target of $71.25.

Matador Resources Company Profile

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Matador Resources Co is a holding company, which engages in the exploration, development, production, and acquisition of oil and natural gas resources. It operates through the following segments: Exploration and Production, Midstream, and Corporate. The Exploration and Production segment focuses on the exploration, development, production, and acquisition of oil and liquids-rich portion of the Wolfcamp and Bone Spring.