Frontier Capital Management Co. LLC Lowers Position in Matador Resources (NYSE:MTDR)

Frontier Capital Management Co. LLC trimmed its position in shares of Matador Resources (NYSE:MTDR) by 0.8% in the 4th quarter, Holdings Channel.com reports. The firm owned 710,867 shares of the energy company’s stock after selling 6,022 shares during the period. Frontier Capital Management Co. LLC’s holdings in Matador Resources were worth $39,993,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the company. Crestline Management LP raised its holdings in Matador Resources by 477.6% in the 4th quarter. Crestline Management LP now owns 26,529 shares of the energy company’s stock worth $1,493,000 after purchasing an additional 21,936 shares during the period. Caption Management LLC purchased a new position in shares of Matador Resources during the 4th quarter valued at approximately $607,000. Cetera Investment Advisers grew its stake in Matador Resources by 24.0% in the 4th quarter. Cetera Investment Advisers now owns 8,070 shares of the energy company’s stock valued at $454,000 after acquiring an additional 1,562 shares during the period. Cercano Management LLC purchased a new stake in Matador Resources in the 4th quarter worth $3,183,000. Finally, BOKF NA raised its position in Matador Resources by 58,158.1% during the fourth quarter. BOKF NA now owns 50,102 shares of the energy company’s stock worth $3,069,000 after acquiring an additional 50,016 shares during the period. 91.98% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

MTDR has been the subject of a number of research reports. JPMorgan Chase & Co. cut their target price on shares of Matador Resources from $65.00 to $61.00 and set an “overweight” rating for the company in a research note on Thursday, April 10th. UBS Group initiated coverage on Matador Resources in a research note on Tuesday, April 22nd. They issued a “neutral” rating and a $47.00 price target on the stock. Truist Financial upped their target price on shares of Matador Resources from $75.00 to $80.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Wells Fargo & Company dropped their price objective on shares of Matador Resources from $86.00 to $80.00 and set an “overweight” rating for the company in a research note on Monday, April 28th. Finally, KeyCorp dropped their price target on Matador Resources from $72.00 to $60.00 and set an “overweight” rating for the company in a research report on Monday, April 21st. Two investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $70.33.

Insiders Place Their Bets

In other news, EVP William Thomas Elsener bought 750 shares of Matador Resources stock in a transaction that occurred on Thursday, May 1st. The shares were purchased at an average price of $40.10 per share, with a total value of $30,075.00. Following the completion of the acquisition, the executive vice president now directly owns 111,197 shares in the company, valued at $4,458,999.70. The trade was a 0.68 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Joseph Wm Foran acquired 2,500 shares of Matador Resources stock in a transaction dated Monday, May 5th. The stock was purchased at an average price of $39.93 per share, for a total transaction of $99,825.00. Following the completion of the acquisition, the chief executive officer now directly owns 58,256 shares in the company, valued at approximately $2,326,162.08. This represents a 4.48 % increase in their position. The disclosure for this purchase can be found here. Insiders have acquired a total of 33,400 shares of company stock worth $1,590,704 in the last ninety days. 6.10% of the stock is owned by corporate insiders.

Matador Resources Stock Down 0.8 %

Shares of MTDR opened at $40.01 on Thursday. The company’s 50-day moving average price is $44.46 and its 200 day moving average price is $52.69. The firm has a market cap of $5.01 billion, a P/E ratio of 5.60 and a beta of 1.47. Matador Resources has a 12-month low of $35.19 and a 12-month high of $66.89. The company has a current ratio of 0.93, a quick ratio of 0.84 and a debt-to-equity ratio of 0.61.

Matador Resources (NYSE:MTDR) last released its quarterly earnings results on Wednesday, April 23rd. The energy company reported $1.99 EPS for the quarter, topping analysts’ consensus estimates of $1.74 by $0.25. Matador Resources had a return on equity of 18.52% and a net margin of 25.26%. The company had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $980.87 million. During the same period in the prior year, the firm earned $1.71 earnings per share. The firm’s revenue was up 28.7% compared to the same quarter last year. On average, sell-side analysts forecast that Matador Resources will post 8.53 earnings per share for the current year.

Matador Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 9th will be paid a dividend of $0.3125 per share. This represents a $1.25 annualized dividend and a yield of 3.12%. The ex-dividend date is Friday, May 9th. Matador Resources’s payout ratio is currently 16.78%.

Matador Resources announced that its Board of Directors has initiated a share buyback program on Wednesday, April 23rd that allows the company to buyback $400.00 million in shares. This buyback authorization allows the energy company to purchase up to 7.8% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

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.