William Blair Investment Management LLC Sells 41,163 Shares of Matador Resources Company $MTDR

Key Points

• William Blair Investment Management LLC has reduced its stake in Matador Resources by 7.8%, selling 41,163 shares to hold approximately 487,675 shares valued at $23.27 million.
• Institutional investors control about 91.98% of Matador Resources' shares, with notable increases in holdings from Vanguard Group, LSV Asset Management, and Wellington Management in the last quarter.
• Matador Resources will pay a quarterly dividend of $0.375 per share on December 5th, up from its previous dividend of $0.31, indicating a strong commitment to returning value to shareholders.

William Blair Investment Management LLC decreased its holdings in Matador Resources Company (NYSE:MTDR - Free Report) by 7.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 487,675 shares of the energy company's stock after selling 41,163 shares during the period. William Blair Investment Management LLC owned about 0.39% of Matador Resources worth $23,272,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. increased its holdings in shares of Matador Resources by 7.6% in the 1st quarter. Vanguard Group Inc. now owns 13,511,643 shares of the energy company's stock worth $690,310,000 after purchasing an additional 956,090 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Matador Resources by 0.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 5,464,857 shares of the energy company's stock worth $279,192,000 after purchasing an additional 20,134 shares in the last quarter. LSV Asset Management increased its holdings in shares of Matador Resources by 50.9% in the 1st quarter. LSV Asset Management now owns 2,289,379 shares of the energy company's stock worth $116,964,000 after purchasing an additional 772,071 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of Matador Resources by 30.5% in the 1st quarter. Wellington Management Group LLP now owns 2,043,715 shares of the energy company's stock worth $104,413,000 after purchasing an additional 477,236 shares in the last quarter. Finally, Beck Mack & Oliver LLC increased its holdings in shares of Matador Resources by 6.8% in the 1st quarter. Beck Mack & Oliver LLC now owns 1,514,928 shares of the energy company's stock worth $77,398,000 after purchasing an additional 96,562 shares in the last quarter. Institutional investors own 91.98% of the company's stock.

Insider Buying and Selling at Matador Resources

In related news, EVP William Thomas Elsener purchased 600 shares of the business's stock in a transaction on Thursday, September 11th. The stock was acquired at an average price of $48.46 per share, with a total value of $29,076.00. Following the completion of the acquisition, the executive vice president owned 112,069 shares of the company's stock, valued at approximately $5,430,863.74. This trade represents a 0.54% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, COO Christopher P. Calvert purchased 1,000 shares of the business's stock in a transaction on 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 acquisition, 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 position. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 11,380 shares of company stock valued at $549,188. Company insiders own 5.80% of the company's stock.

Analyst Upgrades and Downgrades

MTDR has been the subject of a number of research analyst reports. TD Cowen raised Matador Resources to a "strong-buy" rating in a report on Monday, July 7th. Wells Fargo & Company reduced their price objective on Matador Resources from $77.00 to $76.00 and set an "overweight" rating for the company in a research report on Monday, October 13th. Mizuho reduced 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. KeyCorp reduced their price objective on Matador Resources from $62.00 to $61.00 and set an "overweight" rating for the company in a research report on Wednesday, September 3rd. Finally, Royal Bank Of Canada upped their price objective on Matador Resources from $60.00 to $62.00 and gave the company an "outperform" rating in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $66.36.

Matador Resources Stock Performance

NYSE:MTDR opened at $43.00 on Monday. The stock has a 50-day simple moving average of $46.80 and a two-hundred day simple moving average of $46.15. Matador Resources Company has a 52-week low of $35.19 and a 52-week high of $64.04. 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 $5.35 billion, a PE ratio of 6.30 and a beta of 1.41.

Matador Resources (NYSE:MTDR - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The energy company reported $1.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.29 by $0.24. Matador Resources had a return on equity of 16.53% and a net margin of 22.57%.The business had revenue of $895.31 million during the quarter, compared to analyst estimates of $892.86 million. During the same quarter in the previous year, the company posted $2.05 earnings per share. Matador Resources's revenue for the quarter was up 8.2% on a year-over-year basis. Analysts forecast that Matador Resources Company will post 8.53 EPS for the current year.

Matador Resources Increases Dividend

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