Congress Asset Management Co. Sells 5,667 Shares of Matador Resources Company $MTDR

Key Points

• Congress Asset Management Co. reduced its stake in Matador Resources by 8.4%, selling 5,667 shares, bringing its total holdings to 61,865 shares valued at approximately $2.95 million.
• Matador Resources recently reported $1.53 earnings per share for the last quarter, surpassing estimates, along with a year-over-year revenue increase of 8.2%.
• The company announced a quarterly dividend of $0.3125 per share with a yield of 2.6%, reflecting a payout ratio of 18.30%.

Congress Asset Management Co. lowered its stake in shares of Matador Resources Company (NYSE:MTDR - Free Report) by 8.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 61,865 shares of the energy company's stock after selling 5,667 shares during the period. Congress Asset Management Co.'s holdings in Matador Resources were worth $2,952,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MTDR. D.A. Davidson & CO. bought a new position in shares of Matador Resources during the 1st quarter valued at about $263,000. GAMMA Investing LLC lifted its holdings in shares of Matador Resources by 42.8% during the 1st quarter. GAMMA Investing LLC now owns 2,698 shares of the energy company's stock valued at $138,000 after purchasing an additional 809 shares in the last quarter. Teacher Retirement System of Texas bought a new position in shares of Matador Resources during the 1st quarter valued at about $885,000. Delphi Management Inc. MA lifted its holdings in shares of Matador Resources by 118.6% during the 1st quarter. Delphi Management Inc. MA now owns 23,302 shares of the energy company's stock valued at $1,190,000 after purchasing an additional 12,642 shares in the last quarter. Finally, OneDigital Investment Advisors LLC bought a new position in shares of Matador Resources during the 1st quarter valued at about $200,000. Institutional investors own 91.98% of the company's stock.

Matador Resources Stock Up 1.8%

NYSE:MTDR opened at $48.94 on Friday. The firm has a market capitalization of $6.09 billion, a price-to-earnings ratio of 7.17 and a beta of 1.49. Matador Resources Company has a twelve month low of $35.19 and a twelve month high of $64.04. The stock's 50 day moving average price is $48.40 and its two-hundred day moving average price is $46.88. The company has a quick ratio of 0.81, a current ratio of 0.85 and a debt-to-equity ratio of 0.57.

Matador Resources (NYSE:MTDR - Get Free Report) last posted its quarterly earnings results on Tuesday, July 22nd. The energy company reported $1.53 earnings per share for the quarter, topping 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 return on equity of 16.53% and a net margin of 22.57%.The business's quarterly revenue was up 8.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.05 EPS. Equities research analysts expect that Matador Resources Company will post 8.53 earnings per share for the current fiscal year.

Matador Resources Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 5th. Investors of record on Friday, August 15th were issued a dividend of $0.3125 per share. The ex-dividend date of this dividend was Friday, August 15th. This represents a $1.25 dividend on an annualized basis and a dividend yield of 2.6%. Matador Resources's payout ratio is presently 18.30%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Mizuho cut their price objective on Matador Resources from $73.00 to $69.00 and set an "outperform" rating on the stock in a report on Monday, September 15th. UBS Group cut their price objective on Matador Resources from $49.00 to $48.00 and set a "neutral" rating on the stock in a report on Wednesday, August 20th. KeyCorp cut their price objective on Matador Resources from $62.00 to $61.00 and set an "overweight" rating on the stock in a report on Wednesday, September 3rd. TD Cowen raised Matador Resources to a "strong-buy" rating in a research report on Monday, July 7th. Finally, Raymond James Financial lifted their target price on Matador Resources from $60.00 to $63.00 and gave the company an "outperform" rating in a research report on Thursday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $67.27.

Insider Buying and Selling

In other Matador Resources news, CEO Joseph Wm Foran bought 5,000 shares of the firm's stock in a transaction that occurred on Friday, August 1st. The shares were acquired at an average cost of $49.17 per share, with a total value of $245,850.00. Following the acquisition, the chief executive officer owned 6,606 shares of the company's stock, valued at $324,817.02. The trade was a 311.33% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Christopher P. Calvert bought 1,000 shares of the firm's stock in a transaction that occurred on Friday, September 12th. The shares were acquired at an average cost of $47.77 per share, for a total transaction of $47,770.00. Following the completion of the acquisition, the chief operating officer directly owned 37,500 shares in the company, valued at $1,791,375. The trade was a 2.74% increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 11,380 shares of company stock valued at $549,188. 5.80% of the stock is owned by insiders.

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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