First Eagle Investment Management LLC Has $13.47 Million Holdings in Matador Resources Company $MTDR

First Eagle Investment Management LLC trimmed its stake in shares of Matador Resources Company (NYSE:MTDR) by 12.6% during the second quarter, Holdings Channel.com reports. The firm owned 282,290 shares of the energy company’s stock after selling 40,545 shares during the period. First Eagle Investment Management LLC’s holdings in Matador Resources were worth $13,471,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. MassMutual Private Wealth & Trust FSB raised its position in Matador Resources by 93.0% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 554 shares of the energy company’s stock worth $26,000 after purchasing an additional 267 shares during the last quarter. Huntington National Bank increased its stake in shares of Matador Resources by 16.5% in the 2nd quarter. Huntington National Bank now owns 1,939 shares of the energy company’s stock valued at $93,000 after buying an additional 274 shares during the period. Concurrent Investment Advisors LLC raised its position in shares of Matador Resources by 0.5% during the second quarter. Concurrent Investment Advisors LLC now owns 55,776 shares of the energy company’s stock worth $2,662,000 after acquiring an additional 294 shares during the last quarter. State of Michigan Retirement System raised its position in shares of Matador Resources by 1.1% during the first quarter. State of Michigan Retirement System now owns 27,800 shares of the energy company’s stock worth $1,420,000 after acquiring an additional 300 shares during the last quarter. Finally, Louisiana State Employees Retirement System lifted its stake in shares of Matador Resources by 0.9% during the first quarter. Louisiana State Employees Retirement System now owns 32,500 shares of the energy company’s stock valued at $1,660,000 after acquiring an additional 300 shares during the period. 91.98% of the stock is owned by institutional investors.

Matador Resources Price Performance

Shares of MTDR stock opened at $37.96 on Friday. The company has a quick ratio of 0.69, a current ratio of 0.73 and a debt-to-equity ratio of 0.55. Matador Resources Company has a 12-month low of $35.19 and a 12-month high of $64.04. The firm has a fifty day moving average of $44.58 and a 200-day moving average of $46.14. The firm has a market capitalization of $4.72 billion, a price-to-earnings ratio of 6.06 and a beta of 1.35.

Matador Resources (NYSE:MTDR) last posted its earnings results 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 return on equity of 14.80% and a net margin of 20.46%.The firm had revenue of $939.02 million for the quarter, compared to analyst estimates of $893.22 million. During the same period in the previous year, the company posted $1.89 earnings per share. The company’s revenue for the quarter was up 4.4% on a year-over-year basis. On average, equities research analysts forecast that Matador Resources Company will post 8.53 earnings per share for the current year.

Matador Resources Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 5th. Investors of record on Monday, November 10th will be paid a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date of this dividend is Monday, November 10th. This is a positive change from Matador Resources’s previous quarterly dividend of $0.31. Matador Resources’s dividend payout ratio (DPR) is currently 23.96%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on MTDR shares. Royal Bank Of Canada lifted their price objective on Matador Resources from $60.00 to $62.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 8th. UBS Group lowered their price target on shares of Matador Resources from $48.00 to $46.00 and set a “neutral” rating for the company in a research report on Thursday, October 23rd. William Blair began coverage on shares of Matador Resources in a research note on Monday, August 25th. They set an “outperform” rating for the company. Wells Fargo & Company cut their price objective on shares of Matador Resources from $71.00 to $61.00 and set an “overweight” rating on the stock in a report on Friday, October 24th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Matador Resources in a report on Tuesday, October 14th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, Matador Resources presently has an average rating of “Moderate Buy” and an average price target of $63.57.

Insider Activity

In related news, CEO Joseph Wm Foran bought 4,000 shares of Matador Resources stock in a transaction that occurred on Tuesday, November 4th. The stock was purchased at an average cost of $38.44 per share, with a total value of $153,760.00. Following the purchase, the chief executive officer owned 22,867 shares in the company, valued at approximately $879,007.48. This trade represents a 21.20% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Van H. Singleton II bought 1,000 shares of the stock in a transaction on Monday, November 3rd. The shares were purchased at an average price of $39.46 per share, with a total value of $39,460.00. Following the acquisition, the insider owned 292,418 shares in the company, valued at approximately $11,538,814.28. This represents a 0.34% increase in their position. The SEC filing for this purchase provides additional information. In the last ninety days, insiders acquired 40,726 shares of company stock worth $1,652,079. 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.