Matador Resources (NYSE:MTDR) Shares Sold by Concurrent Investment Advisors LLC

Concurrent Investment Advisors LLC lowered its position in shares of Matador Resources (NYSE:MTDR) by 0.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 55,238 shares of the energy company’s stock after selling 236 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Matador Resources were worth $3,108,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the company. Victory Capital Management Inc. boosted its position in Matador Resources by 2.7% during the third quarter. Victory Capital Management Inc. now owns 2,752,102 shares of the energy company’s stock worth $136,009,000 after acquiring an additional 72,077 shares during the last quarter. Geode Capital Management LLC raised its stake in Matador Resources by 1.9% during the third quarter. Geode Capital Management LLC now owns 2,008,730 shares of the energy company’s stock worth $99,297,000 after purchasing an additional 36,921 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Matador Resources by 4.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,434,926 shares of the energy company’s stock worth $70,914,000 after purchasing an additional 57,254 shares during the period. Wasatch Advisors LP raised its stake in Matador Resources by 4.3% during the third quarter. Wasatch Advisors LP now owns 1,287,587 shares of the energy company’s stock worth $63,633,000 after purchasing an additional 52,498 shares during the period. Finally, Copeland Capital Management LLC raised its stake in Matador Resources by 145.2% during the fourth quarter. Copeland Capital Management LLC now owns 1,283,743 shares of the energy company’s stock worth $72,223,000 after purchasing an additional 760,122 shares during the period. Institutional investors and hedge funds own 91.98% of the company’s stock.

Matador Resources Trading Down 0.1 %

NYSE MTDR opened at $56.60 on Friday. Matador Resources has a one year low of $47.15 and a one year high of $71.08. The company has a 50-day simple moving average of $58.25 and a 200-day simple moving average of $55.79. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.84 and a current ratio of 0.88. The firm has a market capitalization of $7.06 billion, a PE ratio of 7.93 and a beta of 3.22.

Matador Resources (NYSE:MTDR) last posted its quarterly earnings results on Tuesday, February 18th. The energy company reported $1.83 EPS for the quarter, missing the consensus estimate of $1.88 by ($0.05). The business had revenue of $970.37 million during the quarter, compared to analyst estimates of $967.10 million. Matador Resources had a net margin of 25.26% and a return on equity of 19.08%. On average, equities analysts forecast that Matador Resources will post 8.53 earnings per share for the current year.

Matador Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be given a $0.3125 dividend. The ex-dividend date of this dividend is Friday, February 28th. This is an increase from Matador Resources’s previous quarterly dividend of $0.25. This represents a $1.25 annualized dividend and a yield of 2.21%. Matador Resources’s dividend payout ratio (DPR) is currently 14.01%.

Insider Activity at Matador Resources

In related news, CEO Joseph Wm Foran purchased 2,000 shares of the company’s stock in a transaction on Friday, December 6th. The shares were bought at an average cost of $55.18 per share, for a total transaction of $110,360.00. Following the transaction, the chief executive officer now owns 42,251 shares of the company’s stock, valued at $2,331,410.18. This represents a 4.97 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, EVP William Thomas Elsener purchased 800 shares of the company’s stock in a transaction on Friday, December 13th. The shares were bought at an average price of $56.60 per share, for a total transaction of $45,280.00. Following the completion of the transaction, the executive vice president now directly owns 102,964 shares in the company, valued at $5,827,762.40. This represents a 0.78 % increase in their position. The disclosure for this purchase can be found here. Insiders have bought a total of 2,980 shares of company stock worth $165,988 in the last ninety days. 6.10% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on MTDR. Benchmark reaffirmed a “buy” rating and set a $62.00 price target on shares of Matador Resources in a research note on Friday, January 17th. Mizuho cut their price target on shares of Matador Resources from $74.00 to $73.00 and set an “outperform” rating on the stock in a research note on Monday, December 16th. Wolfe Research raised shares of Matador Resources from a “peer perform” rating to an “outperform” rating and set a $72.00 price target on the stock in a research note on Friday, January 3rd. Truist Financial increased their price target on shares of Matador Resources from $75.00 to $80.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Finally, TD Cowen raised their target price on shares of Matador Resources from $74.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Two equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $75.14.

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.