Axiom Investors LLC DE Sells 47,720 Shares of Matador Resources (NYSE:MTDR)

Axiom Investors LLC DE decreased its position in shares of Matador Resources (NYSE:MTDR) by 51.6% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 44,715 shares of the energy company’s stock after selling 47,720 shares during the period. Axiom Investors LLC DE’s holdings in Matador Resources were worth $2,339,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Raymond James Financial Services Advisors Inc. grew its holdings in Matador Resources by 5.4% during 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 buying an additional 738 shares in the last quarter. US Bancorp DE grew its holdings in Matador Resources by 2.1% during the 1st quarter. US Bancorp DE now owns 11,991 shares of the energy company’s stock valued at $635,000 after buying an additional 246 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in Matador Resources by 28.6% during the 1st quarter. PNC Financial Services Group Inc. now owns 15,155 shares of the energy company’s stock valued at $804,000 after buying an additional 3,373 shares in the last quarter. MetLife Investment Management LLC grew its holdings in Matador Resources by 53.9% during the 1st quarter. MetLife Investment Management LLC now owns 59,058 shares of the energy company’s stock valued at $3,129,000 after buying an additional 20,684 shares in the last quarter. Finally, Panagora Asset Management Inc. purchased a new stake in Matador Resources during the 1st quarter valued at approximately $214,000. Institutional investors own 87.23% of the company’s stock.

Matador Resources Price Performance

MTDR opened at $58.39 on Tuesday. The business’s 50-day moving average is $59.96 and its two-hundred day moving average is $55.59. Matador Resources has a 1 year low of $42.04 and a 1 year high of $69.41. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.98 and a quick ratio of 0.94. The firm has a market capitalization of $6.96 billion, a PE ratio of 8.29 and a beta of 3.53.

Matador Resources (NYSE:MTDR) last issued its quarterly earnings results on Tuesday, October 24th. The energy company reported $1.86 earnings per share for the quarter, topping analysts’ consensus estimates of $1.59 by $0.27. Matador Resources had a return on equity of 23.09% and a net margin of 31.56%. The business had revenue of $772.29 million for the quarter, compared to analyst estimates of $697.33 million. Research analysts anticipate that Matador Resources will post 7.04 earnings per share for the current fiscal year.

Matador Resources Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Friday, November 10th will be given a $0.20 dividend. The ex-dividend date of this dividend is Thursday, November 9th. This represents a $0.80 dividend on an annualized basis and a yield of 1.37%. This is a positive change from Matador Resources’s previous quarterly dividend of $0.15. Matador Resources’s dividend payout ratio is currently 11.36%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on MTDR. Wells Fargo & Company began coverage on shares of Matador Resources in a report on Wednesday, November 15th. They issued an “overweight” rating and a $73.00 target price for the company. Raymond James raised their target price on shares of Matador Resources from $61.00 to $62.00 and gave the company an “outperform” rating in a report on Monday, July 24th. KeyCorp raised their target price on shares of Matador Resources from $70.00 to $76.00 and gave the company an “overweight” rating in a report on Tuesday, October 17th. Truist Financial raised their target price on shares of Matador Resources from $70.00 to $76.00 in a report on Thursday, July 27th. Finally, StockNews.com raised shares of Matador Resources from a “sell” rating to a “hold” rating in a research note on Wednesday, October 25th. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $73.67.

Matador Resources Company Profile

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.