Rafferty Asset Management LLC Decreases Stock Holdings in Matador Resources (NYSE:MTDR)

Rafferty Asset Management LLC decreased its holdings in shares of Matador Resources (NYSE:MTDR) by 4.1% during the fourth quarter, Holdings Channel.com reports. The fund owned 115,289 shares of the energy company’s stock after selling 4,892 shares during the period. Rafferty Asset Management LLC’s holdings in Matador Resources were worth $6,486,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Barclays PLC lifted its holdings in Matador Resources by 16.1% in the third quarter. Barclays PLC now owns 190,035 shares of the energy company’s stock valued at $9,391,000 after acquiring an additional 26,289 shares during the period. Park Avenue Securities LLC raised its stake in Matador Resources by 35.1% in the 4th quarter. Park Avenue Securities LLC now owns 8,118 shares of the energy company’s stock valued at $457,000 after purchasing an additional 2,108 shares during the last quarter. Merit Financial Group LLC acquired a new position in Matador Resources in the 4th quarter valued at $251,000. Spring Capital Management LLC increased its stake in shares of Matador Resources by 89.5% in the 4th quarter. Spring Capital Management LLC now owns 50,827 shares of the energy company’s stock worth $2,860,000 after acquiring an additional 24,000 shares during the last quarter. Finally, Value Holdings Management CO. LLC increased its stake in shares of Matador Resources by 2.1% in the 4th quarter. Value Holdings Management CO. LLC now owns 684,008 shares of the energy company’s stock worth $38,483,000 after acquiring an additional 14,000 shares during the last quarter. Hedge funds and other institutional investors own 91.98% of the company’s stock.

Insider Buying and Selling at Matador Resources

In other news, Director Paul W. Harvey bought 600 shares of the firm’s stock in a transaction on Friday, February 21st. The shares were bought at an average cost of $55.20 per share, for a total transaction of $33,120.00. Following the completion of the transaction, the director now owns 27,917 shares in the company, valued at $1,541,018.40. This trade represents a 2.20% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Joseph Wm Foran bought 2,500 shares of the firm’s stock in a transaction on Wednesday, May 7th. The shares were purchased at an average price of $39.63 per share, for a total transaction of $99,075.00. Following the completion of the transaction, the chief executive officer now owns 60,756 shares of the company’s stock, valued at $2,407,760.28. This represents a 4.29% increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 36,200 shares of company stock worth $1,701,872. 6.10% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

MTDR has been the subject of a number of recent research reports. Stephens cut their target price on Matador Resources from $90.00 to $86.00 and set an “overweight” rating for the company in a research note on Tuesday, April 15th. Raymond James lowered their target price on Matador Resources from $77.00 to $67.00 and set an “outperform” rating for the company in a report on Monday, March 10th. JPMorgan Chase & Co. reduced their price target on Matador Resources from $65.00 to $61.00 and set an “overweight” rating on the stock in a research report on Thursday, April 10th. UBS Group initiated coverage on Matador Resources in a research report on Tuesday, April 22nd. They issued a “neutral” rating and a $47.00 price target on the stock. Finally, Mizuho cut their target price on Matador Resources from $74.00 to $73.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 13th. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $70.33.

Matador Resources Trading Down 0.2%

MTDR opened at $44.49 on Friday. The firm has a market cap of $5.57 billion, a price-to-earnings ratio of 6.23 and a beta of 1.47. Matador Resources has a 52 week low of $35.19 and a 52 week high of $66.89. The business’s 50 day moving average is $44.24 and its two-hundred day moving average is $52.37. The company has a quick ratio of 0.84, a current ratio of 0.93 and a debt-to-equity ratio of 0.61.

Matador Resources (NYSE:MTDR) last announced 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. 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 the consensus estimate of $980.87 million. During the same period last year, the business posted $1.71 EPS. The company’s revenue was up 28.7% on a year-over-year basis. On average, research analysts predict that Matador Resources will post 8.53 EPS for the current year.

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

Matador Resources Announces Dividend

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