Kingsview Wealth Management LLC Acquires Shares of 11,971 Matador Resources Company $MTDR

Kingsview Wealth Management LLC acquired a new stake in Matador Resources Company (NYSE:MTDR - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 11,971 shares of the energy company's stock, valued at approximately $571,000.

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Several other hedge funds and other institutional investors have also modified their holdings of the stock. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in Matador Resources by 298.5% in the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 534 shares of the energy company's stock valued at $25,000 after acquiring an additional 400 shares during the period. MassMutual Private Wealth & Trust FSB boosted its holdings in shares of Matador Resources by 93.0% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 554 shares of the energy company's stock worth $26,000 after acquiring an additional 267 shares during the period. Allworth Financial LP grew its position in shares of Matador Resources by 182.0% in the second quarter. Allworth Financial LP now owns 564 shares of the energy company's stock valued at $27,000 after purchasing an additional 364 shares during the last quarter. Ameritas Advisory Services LLC bought a new position in shares of Matador Resources during the second quarter worth approximately $29,000. Finally, Quarry LP lifted its holdings in Matador Resources by 70.8% during the 1st quarter. Quarry LP now owns 859 shares of the energy company's stock worth $44,000 after purchasing an additional 356 shares during the last quarter. Institutional investors own 91.98% of the company's stock.

Insiders Place Their Bets

In other news, EVP Robert T. Macalik acquired 1,500 shares of the stock in a transaction on Thursday, November 6th. The stock was acquired at an average cost of $38.25 per share, for a total transaction of $57,375.00. Following the completion of the transaction, the executive vice president directly owned 35,039 shares in the company, valued at approximately $1,340,241.75. This trade represents a 4.47% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Shelley F. Appel bought 1,784 shares of the business's stock in a transaction on Thursday, October 30th. The shares were acquired at an average price of $39.85 per share, with a total value of $71,092.40. Following the completion of the purchase, the director directly owned 1,784 shares of the company's stock, valued at approximately $71,092.40. The trade was a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders purchased a total of 41,726 shares of company stock valued at $1,674,234 over the last three months. 5.80% of the stock is owned by corporate insiders.

Matador Resources Stock Down 1.4%

• 5 Highly Rated Dividends With 50% Upside According to Analysts

Shares of NYSE MTDR opened at $40.45 on Friday. The stock has a market capitalization of $5.03 billion, a P/E ratio of 6.46 and a beta of 1.35. The stock's fifty day moving average is $42.84 and its 200 day moving average is $46.12. 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 0.55, a quick ratio of 0.69 and a current ratio of 0.73.

Matador Resources (NYSE:MTDR - Get Free Report) last posted its quarterly earnings data on Tuesday, October 21st. The energy company reported $1.36 earnings per share for the quarter, topping the consensus estimate of $1.22 by $0.14. Matador Resources had a net margin of 20.46% and a return on equity of 14.80%. The business had revenue of $915.12 million during the quarter, compared to analysts' expectations of $893.22 million. During the same quarter in the prior year, the business posted $1.89 earnings per share. Matador Resources's revenue was up 4.4% compared to the same quarter last year. Sell-side analysts forecast that Matador Resources Company will post 8.53 earnings per share for the current fiscal year.

Matador Resources Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 5th. Investors of record on Monday, November 10th will be given a dividend of $0.375 per share. The ex-dividend date is Monday, November 10th. This represents a $1.50 annualized dividend and a dividend yield of 3.7%. This is a positive change from Matador Resources's previous quarterly dividend of $0.31. Matador Resources's dividend payout ratio (DPR) is 23.96%.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Matador Resources in a report on Tuesday, October 14th. Raymond James Financial reissued an "outperform" rating and issued a $55.00 target price (down previously from $63.00) on shares of Matador Resources in a research report on Monday, October 20th. Bank of America decreased their price target on shares of Matador Resources from $55.00 to $50.00 and set a "buy" rating on the stock in a research note on Monday, November 3rd. William Blair started coverage on shares of Matador Resources in a research note on Monday, August 25th. They issued an "outperform" rating for the company. Finally, UBS Group dropped their price objective on shares of Matador Resources from $48.00 to $46.00 and set a "neutral" rating for the company in a research note on Thursday, October 23rd. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat, Matador Resources currently has an average rating of "Moderate Buy" and an average target price of $63.57.

Get Our Latest Stock Analysis on MTDR

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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