Centiva Capital LP Decreases Stock Holdings in Matador Resources (NYSE:MTDR)

Centiva Capital LP reduced its holdings in shares of Matador Resources (NYSE:MTDR) by 85.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,831 shares of the energy company’s stock after selling 38,840 shares during the period. Centiva Capital LP’s holdings in Matador Resources were worth $384,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in MTDR. LSV Asset Management increased its position in Matador Resources by 262.0% during the 4th quarter. LSV Asset Management now owns 1,517,308 shares of the energy company’s stock valued at $85,364,000 after buying an additional 1,098,108 shares in the last quarter. Copeland Capital Management LLC increased its holdings in shares of Matador Resources by 145.2% in the fourth quarter. Copeland Capital Management LLC now owns 1,283,743 shares of the energy company’s stock valued at $72,223,000 after purchasing an additional 760,122 shares during the period. Webs Creek Capital Management LP acquired a new position in shares of Matador Resources in the fourth quarter valued at about $37,894,000. Alliancebernstein L.P. increased its holdings in shares of Matador Resources by 25.9% in the fourth quarter. Alliancebernstein L.P. now owns 2,698,606 shares of the energy company’s stock valued at $151,824,000 after purchasing an additional 555,245 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in shares of Matador Resources in the fourth quarter valued at about $22,509,000. 91.98% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP William Thomas Elsener bought 750 shares of the firm’s stock in a transaction dated Thursday, May 1st. The shares were acquired at an average price of $40.10 per share, for a total transaction of $30,075.00. Following the completion of the transaction, 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 position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Paul W. Harvey bought 600 shares of the firm’s stock in a transaction dated Friday, February 21st. The stock was purchased at an average price of $55.20 per share, for a total transaction of $33,120.00. Following the transaction, the director now owns 27,917 shares of the company’s stock, valued at approximately $1,541,018.40. This represents a 2.20% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought a total of 36,200 shares of company stock worth $1,701,872 over the last quarter. 6.10% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Wells Fargo & Company cut their price objective on Matador Resources from $86.00 to $80.00 and set an “overweight” rating on the stock in a report on Monday, April 28th. JPMorgan Chase & Co. cut their price objective on Matador Resources from $65.00 to $61.00 and set an “overweight” rating on the stock in a report on Thursday, April 10th. KeyCorp cut their price objective on Matador Resources from $72.00 to $60.00 and set an “overweight” rating on the stock in a report on Monday, April 21st. Benchmark reaffirmed a “buy” rating and set a $62.00 target price on shares of Matador Resources in a report on Friday, January 17th. Finally, Morgan Stanley dropped their target price on Matador Resources from $84.00 to $68.00 and set an “equal weight” rating on the stock in a report on Thursday, March 27th. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Matador Resources has a consensus rating of “Moderate Buy” and a consensus price target of $70.33.

Matador Resources Stock Up 0.1%

Shares of MTDR opened at $42.73 on Monday. 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 has a 12 month low of $35.19 and a 12 month high of $66.89. The stock’s 50 day moving average is $44.28 and its two-hundred day moving average is $52.59. The firm has a market cap of $5.35 billion, a P/E ratio of 5.98 and a beta of 1.47.

Matador Resources (NYSE:MTDR) last released its earnings results on Wednesday, April 23rd. The energy company reported $1.99 earnings per share for the quarter, beating the consensus estimate of $1.74 by $0.25. The business had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $980.87 million. Matador Resources had a return on equity of 18.52% and a net margin of 25.26%. The business’s quarterly revenue was up 28.7% compared to the same quarter last year. During the same quarter last year, the business posted $1.71 earnings per share. Analysts predict that Matador Resources will post 8.53 earnings per share for the current fiscal year.

Matador Resources declared that its Board of Directors has approved a share buyback program on Wednesday, April 23rd that authorizes the company to buyback $400.00 million in outstanding shares. This buyback authorization authorizes the energy company to reacquire up to 7.8% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board believes its stock is undervalued.

Matador Resources Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 9th will be given a $0.3125 dividend. The ex-dividend date is Friday, May 9th. This represents a $1.25 annualized dividend and a dividend yield of 2.93%. Matador Resources’s dividend payout ratio (DPR) is presently 16.78%.

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.