Allspring Global Investments Holdings LLC Sells 133,376 Shares of Matador Resources (NYSE:MTDR)

Posted by Defense World Staff on Nov 3rd, 2023

Allspring Global Investments Holdings LLC reduced its holdings in shares of Matador Resources (NYSE:MTDR – Free Report) by 50.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 130,940 shares of the energy company’s stock after selling 133,376 shares during the period. Allspring Global Investments Holdings LLC owned about 0.11% of Matador Resources worth $6,851,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. New Mexico Educational Retirement Board grew its position in Matador Resources by 12.8% during the second quarter. New Mexico Educational Retirement Board now owns 22,900 shares of the energy company’s stock valued at $1,198,000 after acquiring an additional 2,600 shares during the last quarter. Oppenheimer Asset Management Inc. grew its position in Matador Resources by 253.8% during the first quarter. Oppenheimer Asset Management Inc. now owns 19,423 shares of the energy company’s stock valued at $926,000 after acquiring an additional 13,933 shares during the last quarter. Prudential PLC grew its position in Matador Resources by 35.7% during the first quarter. Prudential PLC now owns 19,911 shares of the energy company’s stock valued at $949,000 after acquiring an additional 5,239 shares during the last quarter. Ontario Teachers Pension Plan Board grew its position in Matador Resources by 15.8% during the first quarter. Ontario Teachers Pension Plan Board now owns 10,055 shares of the energy company’s stock valued at $479,000 after acquiring an additional 1,369 shares during the last quarter. Finally, GW&K Investment Management LLC grew its position in Matador Resources by 57.9% during the first quarter. GW&K Investment Management LLC now owns 2,097,915 shares of the energy company’s stock valued at $99,966,000 after acquiring an additional 769,130 shares during the last quarter. 87.23% of the stock is currently owned by institutional investors.

Matador Resources Stock Performance

Shares of MTDR stock opened at $63.22 on Friday. The company has a quick ratio of 0.94, a current ratio of 0.98 and a debt-to-equity ratio of 0.56. The firm has a market capitalization of $7.53 billion, a price-to-earnings ratio of 8.98 and a beta of 3.52. The stock has a fifty day moving average of $61.13 and a 200 day moving average of $54.68. Matador Resources has a 52 week low of $42.04 and a 52 week high of $73.78.

Matador Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Friday, November 10th will be given a dividend of $0.20 per share. The ex-dividend date is Thursday, November 9th. This represents a $0.80 annualized dividend and a yield of 1.27%. This is a positive change from Matador Resources’s previous quarterly dividend of $0.15. Matador Resources’s dividend payout ratio (DPR) is currently 8.52%.

Wall Street Analyst Weigh In

A number of research analysts have commented on MTDR shares. Benchmark reiterated a “buy” rating and set a $71.00 price target on shares of Matador Resources in a research report on Friday, July 21st. Truist Financial increased their price objective on Matador Resources from $70.00 to $76.00 in a research note on Thursday, July 27th. StockNews.com raised Matador Resources from a “sell” rating to a “hold” rating in a research note on Wednesday, October 25th. Royal Bank of Canada dropped their price objective on Matador Resources from $74.00 to $70.00 in a research note on Wednesday, July 12th. Finally, KeyCorp raised their price target on Matador Resources from $70.00 to $76.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 17th. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, Matador Resources currently has an average rating of “Moderate Buy” and a consensus price target of $73.75.

Read Our Latest Report on Matador Resources

Matador Resources Profile

(Free Report)

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.