Voya Investment Management LLC Sells 25,605 Shares of Matador Resources Company $MTDR

Key Points

• Voya Investment Management LLC reduced its holdings in Matador Resources by 25.3%, selling 25,605 shares and owning approximately 0.06% of the company with a value of $3.86 million.
• Several hedge funds made changes to their positions in Matador Resources, with institutional investors owning nearly 92% of the company's stock.
• Analysts have varying outlooks on Matador Resources, with one issuing a strong-buy rating; the stock has an average rating of Moderate Buy and a consensus price target of $67.27.

Voya Investment Management LLC lessened its holdings in shares of Matador Resources Company (NYSE:MTDR - Free Report) by 25.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 75,466 shares of the energy company's stock after selling 25,605 shares during the period. Voya Investment Management LLC owned about 0.06% of Matador Resources worth $3,856,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Concurrent Investment Advisors LLC raised its position in Matador Resources by 0.4% in the first quarter. Concurrent Investment Advisors LLC now owns 55,482 shares of the energy company's stock valued at $2,835,000 after purchasing an additional 244 shares during the last quarter. State of Wyoming lifted its stake in Matador Resources by 11.6% in the fourth quarter. State of Wyoming now owns 2,772 shares of the energy company's stock valued at $156,000 after buying an additional 288 shares during the period. State of Michigan Retirement System increased its stake in shares of Matador Resources by 1.1% in the 1st quarter. State of Michigan Retirement System now owns 27,800 shares of the energy company's stock valued at $1,420,000 after acquiring an additional 300 shares in the last quarter. Louisiana State Employees Retirement System boosted its position in shares of Matador Resources by 0.9% during the 1st quarter. Louisiana State Employees Retirement System now owns 32,500 shares of the energy company's stock worth $1,660,000 after purchasing an additional 300 shares in the last quarter. Finally, Janney Montgomery Scott LLC increased its holdings in shares of Matador Resources by 3.2% during the first quarter. Janney Montgomery Scott LLC now owns 10,868 shares of the energy company's stock valued at $555,000 after acquiring an additional 340 shares in the last quarter. Institutional investors own 91.98% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on MTDR shares. William Blair began coverage on Matador Resources in a research note on Monday, August 25th. They set an "outperform" rating on the stock. TD Cowen raised shares of Matador Resources to a "strong-buy" rating in a research note on Monday, July 7th. Wells Fargo & Company reduced their target price on Matador Resources from $80.00 to $74.00 and set an "overweight" rating on the stock in a research note on Monday, June 16th. UBS Group cut their price target 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. Finally, Mizuho decreased their price target on Matador Resources from $73.00 to $69.00 and set an "outperform" rating on the stock in a research note on Monday, September 15th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $67.27.

Matador Resources Stock Up 5.9%

Shares of MTDR traded up $2.71 on Tuesday, reaching $48.57. The stock had a trading volume of 189,146 shares, compared to its average volume of 1,669,756. The company has a 50-day simple moving average of $48.66 and a 200-day simple moving average of $46.85. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.81 and a current ratio of 0.85. The firm has a market capitalization of $6.05 billion, a price-to-earnings ratio of 7.12 and a beta of 1.49. 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 released its earnings results on Tuesday, July 22nd. The energy company reported $1.53 earnings per share for the quarter, topping analysts' consensus estimates of $1.29 by $0.24. Matador Resources had a net margin of 22.57% and a return on equity of 16.53%. The firm had revenue of $895.31 million for the quarter, compared to the consensus estimate of $892.86 million. During the same period in the prior year, the firm earned $2.05 EPS. The company's revenue was up 8.2% compared to the same quarter last year. Sell-side analysts predict that Matador Resources Company will post 8.53 EPS for the current year.

Matador Resources Dividend Announcement

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

Insider Activity at Matador Resources

In related news, CEO Joseph Wm Foran bought 5,000 shares of the business's stock in a transaction dated Friday, August 1st. The shares were purchased at an average cost of $49.17 per share, with a total value of $245,850.00. Following the completion of the purchase, the chief executive officer owned 6,606 shares in the company, valued at approximately $324,817.02. The trade was a 311.33% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Christopher P. Calvert bought 1,000 shares of the business's stock in a transaction on Friday, September 12th. The shares were acquired at an average price of $47.77 per share, for a total transaction of $47,770.00. Following the completion of the purchase, the chief operating officer owned 37,500 shares in the company, valued at approximately $1,791,375. The trade was a 2.74% increase in their position. The disclosure for this purchase can be found here. Insiders purchased a total of 11,380 shares of company stock valued at $549,188 in the last 90 days. Corporate insiders own 5.80% of the company's stock.

Matador Resources Company 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.