Alliancebernstein L.P. Reduces Position in Matador Resources (NYSE:MTDR)

Alliancebernstein L.P. cut its holdings in shares of Matador Resources (NYSE:MTDR) by 14.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,042,187 shares of the energy company’s stock after selling 872,928 shares during the period. Alliancebernstein L.P. owned approximately 4.30% of Matador Resources worth $191,805,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in MTDR. Marshall Wace LLP purchased a new stake in shares of Matador Resources during the first quarter valued at $74,000. Envestnet Asset Management Inc. boosted its position in Matador Resources by 66.2% in the second quarter. Envestnet Asset Management Inc. now owns 76,964 shares of the energy company’s stock worth $2,771,000 after purchasing an additional 30,655 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in Matador Resources by 53.6% in the second quarter. PNC Financial Services Group Inc. now owns 9,861 shares of the energy company’s stock worth $356,000 after purchasing an additional 3,439 shares during the last quarter. HighTower Advisors LLC boosted its position in Matador Resources by 2.1% in the second quarter. HighTower Advisors LLC now owns 18,491 shares of the energy company’s stock worth $666,000 after purchasing an additional 375 shares during the last quarter. Finally, Citigroup Inc. boosted its position in Matador Resources by 48.2% in the second quarter. Citigroup Inc. now owns 230,376 shares of the energy company’s stock worth $8,296,000 after purchasing an additional 74,945 shares during the last quarter. 86.01% of the stock is currently owned by institutional investors.

Several research analysts have issued reports on the company. Wells Fargo & Company raised Matador Resources from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $46.00 to $53.00 in a research report on Friday, November 19th. Benchmark raised Matador Resources from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a research report on Wednesday, October 27th. Zacks Investment Research downgraded Matador Resources from a “buy” rating to a “hold” rating and set a $47.00 price objective on the stock. in a research note on Thursday, October 21st. Raymond James raised their price objective on Matador Resources from $40.00 to $57.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 26th. Finally, Truist raised their price objective on Matador Resources from $50.00 to $54.00 and gave the stock a “buy” rating in a research note on Thursday, October 7th. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, Matador Resources has an average rating of “Buy” and an average price target of $46.80.

Shares of MTDR opened at $45.32 on Friday. The business’s 50 day moving average is $40.31 and its 200 day moving average is $36.24. The company has a market capitalization of $5.32 billion, a PE ratio of 19.37 and a beta of 4.34. Matador Resources has a 12-month low of $13.90 and a 12-month high of $47.23. The company has a current ratio of 0.84, a quick ratio of 0.81 and a debt-to-equity ratio of 0.80.

Matador Resources (NYSE:MTDR) last issued its earnings results on Monday, October 25th. The energy company reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.02 by $0.23. The company had revenue of $461.47 million for the quarter, compared to the consensus estimate of $378.33 million. Matador Resources had a return on equity of 23.09% and a net margin of 21.25%. The firm’s quarterly revenue was up 144.0% on a year-over-year basis. During the same quarter last year, the company earned $0.10 EPS. Equities research analysts predict that Matador Resources will post 4.1 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 1st. Shareholders of record on Wednesday, November 10th were paid a $0.05 dividend. This is an increase from Matador Resources’s previous quarterly dividend of $0.03. The ex-dividend date of this dividend was Tuesday, November 9th. This represents a $0.20 dividend on an annualized basis and a yield of 0.44%. Matador Resources’s payout ratio is presently 8.55%.

In related news, COO Billy E. Goodwin bought 2,000 shares of the company’s stock in a transaction dated Monday, December 13th. The stock was purchased at an average price of $37.30 per share, for a total transaction of $74,600.00. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CAO Robert T. Macalik bought 1,500 shares of the company’s stock in a transaction dated Wednesday, December 15th. The stock was bought at an average price of $35.50 per share, with a total value of $53,250.00. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 7,230 shares of company stock worth $264,226. Corporate insiders own 6.80% of the company’s stock.

Matador Resources Profile

Matador Resources Co is a holding company, which engages in the exploration, development, production, and acquisition of oil and natural gas resources. It operates through the following segments: Exploration and Production, Midstream, and Corporate. The Exploration and Production segment focuses on the exploration, development, production, and acquisition of oil and liquids-rich portion of the Wolfcamp and Bone Spring.

Featured Article: Trading Strategy Examples and Plans

Institutional Ownership by Quarter for Matador Resources (NYSE:MTDR)

Receive News & Ratings for Matador Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Matador Resources and related companies with MarketBeat.com's FREE daily email newsletter.