Allspring Global Investments Holdings LLC Has $9.27 Million Stake in Matador Resources Company $MTDR

Key Points

• Allspring Global Investments Holdings LLC increased its stake in Matador Resources by 43.3% in Q2, holding 0.15% of the company worth approximately $9.27 million.
• Matador Resources announced a quarterly dividend increase from $0.31 to $0.375, reflecting an annualized yield of 3.5%.
• Analyst price targets for Matador Resources varied, with an average target of $66.36, indicating a consensus rating of "Moderate Buy".

Allspring Global Investments Holdings LLC boosted its holdings in Matador Resources Company (NYSE:MTDR - Free Report) by 43.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 187,253 shares of the energy company's stock after buying an additional 56,598 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.15% of Matador Resources worth $9,269,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. MCF Advisors LLC bought a new position in shares of Matador Resources during the first quarter valued at $26,000. MassMutual Private Wealth & Trust FSB increased its holdings in Matador Resources by 93.0% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 554 shares of the energy company's stock valued at $26,000 after purchasing an additional 267 shares during the period. Ameritas Advisory Services LLC bought a new position in Matador Resources during the 2nd quarter worth $29,000. Quarry LP lifted its holdings in Matador Resources by 70.8% during the 1st quarter. Quarry LP now owns 859 shares of the energy company's stock worth $44,000 after buying an additional 356 shares during the period. Finally, Geneos Wealth Management Inc. grew its position in shares of Matador Resources by 361.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 881 shares of the energy company's stock valued at $45,000 after buying an additional 690 shares during the last quarter. 91.98% of the stock is owned by institutional investors.

Insider Activity

In other news, COO Christopher P. Calvert bought 1,000 shares of the stock in a transaction dated Friday, September 12th. The shares were bought at an average cost of $47.77 per share, with a total value of $47,770.00. Following the completion of the transaction, the chief operating officer directly owned 37,500 shares of the company's stock, valued at $1,791,375. This trade represents a 2.74% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP William Thomas Elsener purchased 600 shares of Matador Resources stock in a transaction that occurred on Thursday, September 11th. The stock was acquired at an average cost of $48.46 per share, with a total value of $29,076.00. Following the transaction, the executive vice president owned 112,069 shares in the company, valued at $5,430,863.74. This trade represents a 0.54% increase in their position. The disclosure for this purchase can be found here. Insiders bought a total of 11,380 shares of company stock worth $549,188 over the last quarter. 5.80% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

MTDR has been the subject of a number of analyst reports. Mizuho lowered their price objective on Matador Resources from $69.00 to $67.00 and set an "outperform" rating for the company in a research report on Friday, October 10th. UBS Group decreased their target price on shares of Matador Resources from $49.00 to $48.00 and set a "neutral" rating for the company in a research report on Wednesday, August 20th. Raymond James Financial boosted their price target on shares of Matador Resources from $60.00 to $63.00 and gave the stock an "outperform" rating in a research report on Thursday, July 31st. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Matador Resources in a research note on Tuesday, October 14th. Finally, Bank of America lowered their target price on shares of Matador Resources from $56.00 to $55.00 and set a "buy" rating for the company in a research note on Thursday. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $66.36.

Matador Resources Stock Up 0.1%

Matador Resources stock opened at $43.00 on Friday. The company has a quick ratio of 0.81, a current ratio of 0.85 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $5.35 billion, a PE ratio of 6.30 and a beta of 1.41. The firm's fifty day moving average is $46.80 and its 200 day moving average is $46.14. Matador Resources Company has a 12-month low of $35.19 and a 12-month high of $64.04.

Matador Resources (NYSE:MTDR - Get Free Report) last announced its quarterly earnings data on Tuesday, July 22nd. The energy company reported $1.53 earnings per share for the quarter, beating the consensus estimate of $1.29 by $0.24. The firm had revenue of $895.31 million for the quarter, compared to analyst estimates of $892.86 million. Matador Resources had a net margin of 22.57% and a return on equity of 16.53%. The business's quarterly revenue was up 8.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.05 earnings per share. As a group, sell-side analysts predict that Matador Resources Company will post 8.53 EPS for the current fiscal year.

Matador Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 5th. Shareholders of record on Monday, November 10th will be paid a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a yield of 3.5%. This is a boost from Matador Resources's previous quarterly dividend of $0.31. The ex-dividend date of this dividend is Monday, November 10th. Matador Resources's payout ratio is 18.30%.

Matador Resources 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.

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