Matador Resources Company $MTDR Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans reduced its stake in Matador Resources Company (NYSE:MTDR) by 22.8% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 994,713 shares of the energy company’s stock after selling 294,420 shares during the period. Thrivent Financial for Lutherans’ holdings in Matador Resources were worth $47,468,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of MTDR. Adage Capital Partners GP L.L.C. boosted its holdings in shares of Matador Resources by 143.1% in the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 2,556,472 shares of the energy company’s stock valued at $121,995,000 after buying an additional 1,505,000 shares in the last quarter. LSV Asset Management lifted its position in Matador Resources by 45.7% in the second quarter. LSV Asset Management now owns 3,334,775 shares of the energy company’s stock valued at $159,135,000 after acquiring an additional 1,045,396 shares during the last quarter. Encompass Capital Advisors LLC acquired a new position in Matador Resources in the second quarter valued at $37,194,000. Wellington Management Group LLP boosted its stake in Matador Resources by 30.5% in the first quarter. Wellington Management Group LLP now owns 2,043,715 shares of the energy company’s stock valued at $104,413,000 after acquiring an additional 477,236 shares in the last quarter. Finally, Balyasny Asset Management L.P. grew its holdings in shares of Matador Resources by 488.5% during the second quarter. Balyasny Asset Management L.P. now owns 477,218 shares of the energy company’s stock worth $22,773,000 after purchasing an additional 396,129 shares during the last quarter. Hedge funds and other institutional investors own 91.98% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on MTDR. William Blair initiated coverage on Matador Resources in a research report on Monday, August 25th. They issued an “outperform” rating for the company. Morgan Stanley reduced their price objective on Matador Resources from $62.00 to $61.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 14th. Wells Fargo & Company lowered their target price on shares of Matador Resources from $71.00 to $61.00 and set an “overweight” rating on the stock in a research report on Friday, October 24th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Matador Resources in a report on Tuesday, October 14th. Finally, UBS Group increased their price target on shares of Matador Resources from $46.00 to $50.00 and gave the stock a “neutral” rating in a research note on Friday. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $63.33.

Insider Buying and Selling

In other Matador Resources news, Director Shelley F. Appel acquired 1,389 shares of the stock in a transaction on Thursday, November 6th. The shares were bought at an average price of $38.01 per share, with a total value of $52,795.89. Following the acquisition, the director owned 5,084 shares of the company’s stock, valued at $193,242.84. This trade represents a 37.59% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Joseph Wm Foran bought 1,000 shares of the business’s stock in a transaction dated Thursday, November 6th. The shares were acquired at an average cost of $38.14 per share, with a total value of $38,140.00. Following the completion of the purchase, the chief executive officer owned 23,867 shares in the company, valued at approximately $910,287.38. This represents a 4.37% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have bought 37,346 shares of company stock worth $1,463,396 in the last three months. Company insiders own 5.80% of the company’s stock.

Matador Resources Trading Down 2.3%

NYSE:MTDR opened at $43.23 on Tuesday. The company has a current ratio of 0.73, a quick ratio of 0.69 and a debt-to-equity ratio of 0.55. The stock’s 50 day simple moving average is $41.81 and its 200-day simple moving average is $46.14. Matador Resources Company has a 12-month low of $35.19 and a 12-month high of $64.04. The firm has a market cap of $5.37 billion, a P/E ratio of 6.91 and a beta of 1.11.

Matador Resources (NYSE:MTDR) last posted its quarterly earnings data on Tuesday, October 21st. The energy company reported $1.36 earnings per share for the quarter, beating analysts’ consensus estimates of $1.22 by $0.14. The firm had revenue of $939.02 million for the quarter, compared to analyst estimates of $893.22 million. Matador Resources had a net margin of 20.46% and a return on equity of 14.80%. Matador Resources’s quarterly revenue was up 4.4% on a year-over-year basis. During the same period last year, the firm posted $1.89 EPS. Equities analysts anticipate that Matador Resources Company will post 8.53 EPS for the current year.

Matador Resources Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 5th. Investors of record on Monday, November 10th were issued a dividend of $0.375 per share. This is an increase from Matador Resources’s previous quarterly dividend of $0.31. This represents a $1.50 annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend was Monday, November 10th. Matador Resources’s dividend payout ratio is currently 23.96%.

About Matador Resources

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.