Matador Resources (NYSE:MTDR) Shares Sold by Silvercrest Asset Management Group LLC

Silvercrest Asset Management Group LLC reduced its stake in shares of Matador Resources (NYSE:MTDR) by 9.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,135,533 shares of the energy company’s stock after selling 210,316 shares during the period. Matador Resources accounts for about 0.8% of Silvercrest Asset Management Group LLC’s portfolio, making the stock its 19th largest holding. Silvercrest Asset Management Group LLC owned approximately 1.71% of Matador Resources worth $120,145,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Altshuler Shaham Ltd acquired a new position in Matador Resources in the fourth quarter valued at about $25,000. TCTC Holdings LLC boosted its holdings in Matador Resources by 53.8% in the fourth quarter. TCTC Holdings LLC now owns 500 shares of the energy company’s stock valued at $28,000 after purchasing an additional 175 shares during the period. EverSource Wealth Advisors LLC grew its position in shares of Matador Resources by 108.5% during the fourth quarter. EverSource Wealth Advisors LLC now owns 492 shares of the energy company’s stock worth $28,000 after buying an additional 256 shares in the last quarter. MassMutual Private Wealth & Trust FSB increased its stake in shares of Matador Resources by 68.3% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 510 shares of the energy company’s stock worth $29,000 after buying an additional 207 shares during the period. Finally, SRS Capital Advisors Inc. raised its holdings in Matador Resources by 359.5% in the fourth quarter. SRS Capital Advisors Inc. now owns 579 shares of the energy company’s stock valued at $33,000 after acquiring an additional 453 shares in the last quarter. 91.98% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Matador Resources

In other news, EVP William Thomas Elsener acquired 750 shares of Matador Resources stock in a transaction 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 acquisition, the executive vice president now owns 111,197 shares in the company, valued at $4,458,999.70. This represents a 0.68% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Robert T. Macalik bought 1,200 shares of the company’s stock in a transaction on Wednesday, March 5th. The shares were acquired at an average price of $47.98 per share, with a total value of $57,576.00. Following the transaction, the chief accounting officer now directly owns 31,000 shares in the company, valued at approximately $1,487,380. The trade was a 4.03% increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 36,200 shares of company stock valued at $1,701,872. 6.10% of the stock is currently owned by company insiders.

Matador Resources Trading Down 3.2%

Shares of MTDR stock opened at $44.42 on Friday. Matador Resources has a 12 month low of $35.19 and a 12 month high of $66.89. The business’s 50 day moving average is $44.29 and its two-hundred day moving average is $52.41. The company has a quick ratio of 0.84, a current ratio of 0.93 and a debt-to-equity ratio of 0.61. The company has a market cap of $5.56 billion, a PE ratio of 6.22 and a beta of 1.47.

Matador Resources (NYSE:MTDR) last posted its quarterly earnings data 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. 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 during the quarter, compared to analysts’ expectations of $980.87 million. During the same period in the prior year, the business earned $1.71 earnings per share. Matador Resources’s revenue for the quarter was up 28.7% compared to the same quarter last year. Equities analysts predict that Matador Resources will post 8.53 EPS for the current year.

Matador Resources announced that its board has initiated a stock repurchase 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 buy up to 7.8% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its stock is undervalued.

Matador Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 9th will be paid a dividend of $0.3125 per share. The ex-dividend date of this dividend is Friday, May 9th. This represents a $1.25 annualized dividend and a yield of 2.81%. Matador Resources’s dividend payout ratio is currently 16.78%.

Wall Street Analysts Forecast Growth

MTDR has been the subject of several recent analyst reports. JPMorgan Chase & Co. decreased their target price on Matador Resources from $65.00 to $61.00 and set an “overweight” rating for the company in a research note on Thursday, April 10th. Benchmark restated a “buy” rating and issued a $62.00 price objective on shares of Matador Resources in a research note on Friday, January 17th. Stephens reduced their target price on Matador Resources from $90.00 to $86.00 and set an “overweight” rating for the company in a report on Tuesday, April 15th. Royal Bank of Canada decreased their target price on Matador Resources from $70.00 to $62.00 and set an “outperform” rating for the company in a research report on Friday, April 11th. Finally, Morgan Stanley cut their price target on Matador Resources from $84.00 to $68.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 27th. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $70.33.

Matador Resources 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.