Pictet Asset Management SA Increases Position in Matador Resources (NYSE:MTDR)

Pictet Asset Management SA raised its position in Matador Resources (NYSE:MTDRGet Rating) by 5.8% during the second quarter, Holdings Channel reports. The firm owned 7,372 shares of the energy company’s stock after buying an additional 405 shares during the quarter. Pictet Asset Management SA’s holdings in Matador Resources were worth $343,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Invesco Ltd. increased its position in shares of Matador Resources by 82.9% during the first quarter. Invesco Ltd. now owns 4,367,715 shares of the energy company’s stock worth $231,403,000 after acquiring an additional 1,979,904 shares during the period. JPMorgan Chase & Co. increased its position in shares of Matador Resources by 132.7% during the first quarter. JPMorgan Chase & Co. now owns 2,820,665 shares of the energy company’s stock worth $149,439,000 after acquiring an additional 1,608,468 shares during the period. TimesSquare Capital Management LLC purchased a new stake in shares of Matador Resources during the first quarter worth $47,475,000. BlackRock Inc. increased its position in shares of Matador Resources by 5.2% during the first quarter. BlackRock Inc. now owns 17,970,538 shares of the energy company’s stock worth $952,080,000 after acquiring an additional 884,810 shares during the period. Finally, Vanguard Group Inc. increased its position in shares of Matador Resources by 4.8% during the first quarter. Vanguard Group Inc. now owns 12,422,915 shares of the energy company’s stock worth $658,165,000 after acquiring an additional 567,557 shares during the period. Hedge funds and other institutional investors own 88.32% of the company’s stock.

Matador Resources Stock Performance

NYSE MTDR opened at $66.74 on Thursday. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.48 and a quick ratio of 1.46. Matador Resources has a 1 year low of $33.49 and a 1 year high of $73.78. The company has a market capitalization of $7.89 billion, a PE ratio of 6.80 and a beta of 3.58. The company has a fifty day moving average of $62.40 and a two-hundred day moving average of $57.29.

Matador Resources (NYSE:MTDRGet Rating) last released its quarterly earnings data on Tuesday, October 25th. The energy company reported $2.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.63 by $0.05. Matador Resources had a net margin of 40.29% and a return on equity of 45.40%. The company had revenue of $751.40 million during the quarter, compared to the consensus estimate of $740.23 million. During the same quarter in the prior year, the firm posted $1.25 earnings per share. Matador Resources’s revenue for the quarter was up 62.8% on a year-over-year basis. As a group, analysts expect that Matador Resources will post 10.79 earnings per share for the current year.

Matador Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Thursday, November 10th will be paid a $0.10 dividend. The ex-dividend date is Wednesday, November 9th. This represents a $0.40 annualized dividend and a yield of 0.60%. Matador Resources’s dividend payout ratio is presently 4.07%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on MTDR shares. JPMorgan Chase & Co. cut their price objective on Matador Resources from $71.00 to $67.00 and set an “overweight” rating on the stock in a research report on Friday, October 14th. StockNews.com initiated coverage on Matador Resources in a report on Wednesday, October 12th. They issued a “hold” rating on the stock. MKM Partners reissued a “buy” rating and issued a $68.00 target price on shares of Matador Resources in a report on Wednesday, September 21st. Raymond James increased their target price on Matador Resources from $60.00 to $78.00 and gave the company an “outperform” rating in a report on Monday, October 24th. Finally, KeyCorp increased their target price on Matador Resources from $72.00 to $79.00 and gave the company an “overweight” rating in a report on Thursday, October 27th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $69.75.

Matador Resources 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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Institutional Ownership by Quarter for Matador Resources (NYSE:MTDR)

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