Rafferty Asset Management LLC Sells 23,455 Shares of Matador Resources Company $MTDR

Rafferty Asset Management LLC lessened its position in Matador Resources Company (NYSE:MTDR) by 20.6% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 90,300 shares of the energy company’s stock after selling 23,455 shares during the quarter. Rafferty Asset Management LLC owned approximately 0.07% of Matador Resources worth $4,057,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MTDR. Aster Capital Management DIFC Ltd bought a new position in Matador Resources in the third quarter worth $375,000. Choreo LLC purchased a new stake in shares of Matador Resources in the 3rd quarter worth about $217,000. US Bancorp DE increased its stake in shares of Matador Resources by 5.2% in the 3rd quarter. US Bancorp DE now owns 13,919 shares of the energy company’s stock worth $625,000 after acquiring an additional 692 shares in the last quarter. AXQ Capital LP purchased a new position in Matador Resources during the 3rd quarter valued at about $1,108,000. Finally, Dana Investment Advisors Inc. lifted its position in Matador Resources by 5.2% during the 3rd quarter. Dana Investment Advisors Inc. now owns 10,381 shares of the energy company’s stock valued at $466,000 after acquiring an additional 512 shares during the period. 91.98% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Mizuho upped their price objective on shares of Matador Resources from $67.00 to $70.00 and gave the stock an “outperform” rating in a report on Friday, December 12th. KeyCorp reissued an “overweight” rating on shares of Matador Resources in a research report on Friday, December 19th. UBS Group raised their price objective on Matador Resources from $46.00 to $50.00 and gave the company a “neutral” rating in a research report on Friday, December 12th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Matador Resources in a research note on Friday, January 9th. Finally, Royal Bank Of Canada cut their target price on Matador Resources from $62.00 to $60.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 13th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, Matador Resources currently has a consensus rating of “Moderate Buy” and a consensus target price of $57.82.

Matador Resources Price Performance

Shares of NYSE MTDR opened at $53.56 on Wednesday. The firm has a market cap of $6.65 billion, a P/E ratio of 8.78 and a beta of 1.07. Matador Resources Company has a twelve month low of $35.19 and a twelve month high of $55.29. The company has a quick ratio of 0.75, a current ratio of 0.79 and a debt-to-equity ratio of 0.57. The company has a 50 day moving average of $45.40 and a 200 day moving average of $44.52.

Matador Resources (NYSE:MTDR) last posted its earnings results on Tuesday, February 24th. The energy company reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.16. Matador Resources had a return on equity of 12.36% and a net margin of 20.54%.The business had revenue of $847.99 million during the quarter, compared to analyst estimates of $811.13 million. During the same quarter last year, the company earned $1.83 EPS. The company’s quarterly revenue was down 15.7% compared to the same quarter last year. As a group, research analysts expect that Matador Resources Company will post 8.53 EPS for the current fiscal year.

Matador Resources Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Shareholders of record on Friday, February 27th will be given a $0.375 dividend. The ex-dividend date of this dividend is Friday, February 27th. This represents a $1.50 dividend on an annualized basis and a yield of 2.8%. Matador Resources’s payout ratio is 24.59%.

About Matador Resources

Matador Resources Company is an independent energy firm primarily engaged in the exploration, development and production of oil, natural gas liquids (NGLs) and natural gas. The company focuses on upstream operations, utilizing horizontal drilling and hydraulic fracturing techniques to unlock hydrocarbons from key reservoirs. Its asset base includes both operated and non‐operated positions, with a particular emphasis on the Permian Basin, one of the most prolific oil-producing regions in North America.

Matador’s core operations are concentrated in the Delaware Basin segment of the Permian Basin, where it holds substantial acreage in both Reeves and Culberson counties in West Texas and Eddy and Lea counties in New Mexico.