Van ECK Associates Corp Has $80,000 Stock Position in Matador Resources (NYSE:MTDR)

Van ECK Associates Corp lowered its position in shares of Matador Resources (NYSE:MTDRGet Rating) by 14.8% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,629 shares of the energy company’s stock after selling 284 shares during the quarter. Van ECK Associates Corp’s holdings in Matador Resources were worth $80,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in MTDR. Raymond James Financial Services Advisors Inc. increased its position in Matador Resources by 5.4% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 14,398 shares of the energy company’s stock valued at $763,000 after acquiring an additional 738 shares in the last quarter. US Bancorp DE increased its position in Matador Resources by 2.1% in the 1st quarter. US Bancorp DE now owns 11,991 shares of the energy company’s stock valued at $635,000 after acquiring an additional 246 shares in the last quarter. PNC Financial Services Group Inc. increased its position in Matador Resources by 28.6% in the 1st quarter. PNC Financial Services Group Inc. now owns 15,155 shares of the energy company’s stock valued at $804,000 after acquiring an additional 3,373 shares in the last quarter. MetLife Investment Management LLC increased its position in Matador Resources by 53.9% in the 1st quarter. MetLife Investment Management LLC now owns 59,058 shares of the energy company’s stock valued at $3,129,000 after acquiring an additional 20,684 shares in the last quarter. Finally, Panagora Asset Management Inc. acquired a new stake in Matador Resources in the 1st quarter valued at about $214,000. Institutional investors and hedge funds own 87.00% of the company’s stock.

Matador Resources Stock Up 1.9 %

Matador Resources stock opened at $61.67 on Friday. The company’s 50 day simple moving average is $60.26 and its 200 day simple moving average is $58.53. Matador Resources has a fifty-two week low of $37.50 and a fifty-two week high of $73.78. The firm has a market capitalization of $7.29 billion, a price-to-earnings ratio of 6.28 and a beta of 3.50. 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 (NYSE:MTDRGet Rating) last released its quarterly earnings data on Tuesday, October 25th. The energy company reported $2.68 earnings per share for the quarter, topping the consensus estimate of $2.47 by $0.21. Matador Resources had a net margin of 40.29% and a return on equity of 45.40%. The business had revenue of $751.40 million for the quarter, compared to analyst estimates of $740.23 million. During the same quarter last year, the firm earned $1.25 EPS. Matador Resources’s quarterly revenue was up 62.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Matador Resources will post 10.62 EPS for the current year.

Matador Resources Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 1st. Shareholders of record on Thursday, November 10th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.65%. The ex-dividend date of this dividend was Wednesday, November 9th. Matador Resources’s payout ratio is currently 4.07%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on MTDR shares. KeyCorp lowered their price objective on shares of Matador Resources from $79.00 to $73.00 and set an “overweight” rating for the company in a research report on Thursday, December 8th. StockNews.com initiated coverage on shares of Matador Resources in a research report on Wednesday, October 12th. They set a “hold” rating for the company. Raymond James lifted their price target on shares of Matador Resources from $60.00 to $78.00 and gave the stock an “outperform” rating in a research report on Monday, October 24th. JPMorgan Chase & Co. lowered their price target on shares of Matador Resources from $71.00 to $67.00 and set an “overweight” rating for the company in a research report on Friday, October 14th. Finally, Mizuho initiated coverage on shares of Matador Resources in a research report on Monday, January 9th. They set a “neutral” rating and a $70.00 price target for the company. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $69.11.

About Matador Resources

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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.

See Also

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

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