Kornitzer Capital Management Inc. KS Has $4.05 Million Stock Holdings in Matador Resources Company $MTDR

Key Points

• Kornitzer Capital Management Inc. reduced its stake in Matador Resources by 29.8% in Q2, owning 84,935 shares worth approximately $4.05 million.
• Matador Resources reported a Q3 EPS of $1.36, exceeding analyst estimates, with revenues of $939.02 million, which is a 4.4% increase from last year.
• The company declared a quarterly dividend increase to $0.375 per share, representing an annualized dividend of $1.50 and a yield of 3.8%.

Kornitzer Capital Management Inc. KS lessened its position in shares of Matador Resources Company (NYSE:MTDR - Free Report) by 29.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 84,935 shares of the energy company's stock after selling 36,010 shares during the quarter. Kornitzer Capital Management Inc. KS owned about 0.07% of Matador Resources worth $4,053,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. Shaker Investments LLC OH lifted its stake in shares of Matador Resources by 51.0% during the second quarter. Shaker Investments LLC OH now owns 14,639 shares of the energy company's stock valued at $699,000 after acquiring an additional 4,943 shares during the period. State of New Jersey Common Pension Fund D lifted its stake in shares of Matador Resources by 19.2% during the second quarter. State of New Jersey Common Pension Fund D now owns 43,198 shares of the energy company's stock valued at $2,061,000 after acquiring an additional 6,971 shares during the period. Peterson Wealth Services lifted its stake in shares of Matador Resources by 3.4% during the second quarter. Peterson Wealth Services now owns 62,154 shares of the energy company's stock valued at $2,966,000 after acquiring an additional 2,029 shares during the period. Ethic Inc. acquired a new position in Matador Resources in the second quarter valued at about $284,000. Finally, Burford Brothers Inc. lifted its stake in Matador Resources by 7.7% in the second quarter. Burford Brothers Inc. now owns 27,543 shares of the energy company's stock valued at $1,314,000 after buying an additional 1,959 shares during the period. Institutional investors and hedge funds own 91.98% of the company's stock.

Matador Resources Trading Down 3.0%

NYSE MTDR opened at $39.27 on Friday. The firm has a market cap of $4.89 billion, a P/E ratio of 6.27 and a beta of 1.41. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.73 and a quick ratio of 0.81. The stock's 50-day moving average is $46.21 and its 200-day moving average is $46.23. Matador Resources Company has a one year low of $35.19 and a one year high of $64.04.

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

Matador Resources Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 5th. Stockholders of record on Monday, November 10th will be given 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 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date of this dividend is Monday, November 10th. Matador Resources's payout ratio is 19.97%.

Wall Street Analyst Weigh In

Several research firms have weighed in on MTDR. UBS Group cut their target price on Matador Resources from $48.00 to $46.00 and set a "neutral" rating on the stock in a research note on Thursday. William Blair began coverage on Matador Resources in a research note on Monday, August 25th. They issued an "outperform" rating on the stock. Morgan Stanley cut their target price on Matador Resources from $62.00 to $61.00 and set an "equal weight" rating on the stock in a research note on Tuesday, October 14th. Royal Bank Of Canada increased their target price on Matador Resources from $60.00 to $62.00 and gave the company an "outperform" rating in a research note on Wednesday, October 8th. Finally, TD Cowen raised Matador Resources to a "strong-buy" rating in a research note on Monday, July 7th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $63.93.

Insider Transactions at Matador Resources

In other news, CEO Joseph Wm Foran acquired 2,000 shares of the firm's stock in a transaction that occurred on Friday, September 12th. The stock was acquired at an average cost of $48.15 per share, for a total transaction of $96,300.00. Following the completion of the acquisition, the chief executive officer owned 8,025 shares in the company, valued at $386,403.75. This represents a 33.20% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP William Thomas Elsener bought 600 shares of the company's stock in a transaction that occurred on Thursday, September 11th. The stock was purchased at an average cost of $48.46 per share, for a total transaction of $29,076.00. Following the transaction, the executive vice president owned 112,069 shares in the company, valued at $5,430,863.74. The trade was a 0.54% increase in their position. The disclosure for this purchase can be found here. Insiders have acquired a total of 11,380 shares of company stock valued at $549,188 over the last 90 days. 5.80% of the stock is owned by company insiders.

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.

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