Private Advisor Group LLC Trims Stock Holdings in Matador Resources (NYSE:MTDR)

Private Advisor Group LLC reduced its stake in shares of Matador Resources (NYSE:MTDR) by 0.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 48,525 shares of the energy company’s stock after selling 341 shares during the period. Private Advisor Group LLC’s holdings in Matador Resources were worth $2,730,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Venturi Wealth Management LLC raised its stake in Matador Resources by 134.4% during the 4th quarter. Venturi Wealth Management LLC now owns 3,750 shares of the energy company’s stock worth $211,000 after acquiring an additional 2,150 shares during the period. CIBC Asset Management Inc purchased a new position in Matador Resources during the 4th quarter valued at approximately $209,000. Sanctuary Advisors LLC grew its holdings in shares of Matador Resources by 20.4% in the fourth quarter. Sanctuary Advisors LLC now owns 7,316 shares of the energy company’s stock valued at $436,000 after purchasing an additional 1,238 shares in the last quarter. James Investment Research Inc. grew its stake in shares of Matador Resources by 5.6% in the 4th quarter. James Investment Research Inc. now owns 60,985 shares of the energy company’s stock worth $3,431,000 after buying an additional 3,226 shares in the last quarter. Finally, Rhumbline Advisers raised its position in shares of Matador Resources by 1.9% during the 4th quarter. Rhumbline Advisers now owns 309,022 shares of the energy company’s stock valued at $17,386,000 after buying an additional 5,716 shares in the last quarter. 91.98% of the stock is currently owned by institutional investors.

Matador Resources Stock Up 0.5 %

Shares of MTDR stock opened at $53.38 on Tuesday. Matador Resources has a fifty-two week low of $47.15 and a fifty-two week high of $71.08. The stock’s 50-day simple moving average is $58.12 and its 200-day simple moving average is $55.81. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.84 and a current ratio of 0.93. The firm has a market capitalization of $6.66 billion, a PE ratio of 7.48 and a beta of 3.22.

Matador Resources (NYSE:MTDR) last issued its quarterly earnings data on Tuesday, February 18th. The energy company reported $1.83 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.88 by ($0.05). Matador Resources had a net margin of 25.26% and a return on equity of 18.52%. The company had revenue of $970.37 million during the quarter, compared to analyst estimates of $967.10 million. Equities analysts expect that Matador Resources 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, March 14th. Stockholders of record on Friday, February 28th will be given a dividend of $0.3125 per share. The ex-dividend date of this dividend is Friday, February 28th. This is a boost from Matador Resources’s previous quarterly dividend of $0.25. This represents a $1.25 dividend on an annualized basis and a dividend yield of 2.34%. Matador Resources’s dividend payout ratio (DPR) is 17.51%.

Insider Activity at Matador Resources

In related news, CEO Joseph Wm Foran bought 2,000 shares of the company’s stock in a transaction dated Friday, December 6th. The shares were acquired at an average price of $55.18 per share, for a total transaction of $110,360.00. Following the completion of the transaction, the chief executive officer now directly owns 42,251 shares in the company, valued at $2,331,410.18. This trade represents a 4.97 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP William Thomas Elsener acquired 800 shares of the business’s stock in a transaction on Friday, December 13th. The shares were purchased at an average price of $56.60 per share, with a total value of $45,280.00. Following the completion of the purchase, the executive vice president now 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 acquired a total of 11,280 shares of company stock worth $614,409 in the last 90 days. Corporate insiders own 6.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on MTDR shares. Royal Bank of Canada reissued an “outperform” rating and set a $70.00 target price on shares of Matador Resources in a research report on Wednesday, January 15th. TD Cowen lifted their price target on shares of Matador Resources from $74.00 to $75.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Truist Financial raised their price objective 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. JPMorgan Chase & Co. dropped their price objective on Matador Resources from $77.00 to $71.00 and set an “overweight” rating for the company in a report on Wednesday, October 30th. Finally, Stephens increased their target price on Matador Resources from $78.00 to $80.00 and gave the stock an “overweight” rating in a research note on Friday, December 6th. One research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target 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.