Matador Resources (NYSE:MTDR) Shares Sold by Essex Investment Management Co. LLC

Essex Investment Management Co. LLC lowered its position in Matador Resources (NYSE:MTDR) by 9.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 40,235 shares of the energy company’s stock after selling 4,036 shares during the period. Essex Investment Management Co. LLC’s holdings in Matador Resources were worth $2,264,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. MassMutual Private Wealth & Trust FSB raised its holdings in Matador Resources by 68.3% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 510 shares of the energy company’s stock worth $29,000 after purchasing an additional 207 shares during the period. SRS Capital Advisors Inc. raised its stake in shares of Matador Resources by 359.5% during the 4th quarter. SRS Capital Advisors Inc. now owns 579 shares of the energy company’s stock worth $33,000 after buying an additional 453 shares during the period. True Wealth Design LLC purchased a new position in shares of Matador Resources during the 3rd quarter valued at approximately $37,000. Denver PWM LLC grew its stake in Matador Resources by 67.2% in the 3rd quarter. Denver PWM LLC now owns 754 shares of the energy company’s stock valued at $37,000 after acquiring an additional 303 shares during the period. Finally, Avior Wealth Management LLC increased its holdings in Matador Resources by 329.0% in the 3rd quarter. Avior Wealth Management LLC now owns 828 shares of the energy company’s stock worth $41,000 after acquiring an additional 635 shares in the last quarter. 91.98% of the stock is owned by hedge funds and other institutional investors.

Matador Resources Stock Up 1.1 %

NYSE MTDR opened at $45.27 on Monday. The business’s fifty day simple moving average is $57.21 and its 200-day simple moving average is $55.34. 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 firm has a market cap of $5.67 billion, a PE ratio of 6.34 and a beta of 3.17. Matador Resources has a 52 week low of $43.89 and a 52 week high of $71.08.

Matador Resources (NYSE:MTDR) last issued its earnings results on Tuesday, February 18th. The energy company reported $1.83 EPS for the quarter, missing analysts’ consensus estimates of $1.88 by ($0.05). Matador Resources had a return on equity of 18.52% and a net margin of 25.26%. The firm had revenue of $970.37 million for the quarter, compared to analysts’ expectations of $967.10 million. As a group, equities analysts anticipate that Matador Resources will post 8.53 earnings per share for the current year.

Matador Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be issued a $0.3125 dividend. The ex-dividend date 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 yield of 2.76%. Matador Resources’s dividend payout ratio is currently 17.51%.

Wall Street Analyst Weigh In

Several research firms have issued reports on MTDR. Wells Fargo & Company increased their price objective on shares of Matador Resources from $87.00 to $91.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Wolfe Research raised shares of Matador Resources from a “peer perform” rating to an “outperform” rating and set a $72.00 price target on the stock in a research note on Friday, January 3rd. Stephens lifted their price objective on Matador Resources from $78.00 to $80.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. Truist Financial increased their target price on Matador Resources from $75.00 to $80.00 and gave the company a “buy” rating in a report on Monday, January 13th. Finally, Morgan Stanley assumed coverage on Matador Resources in a research note on Friday, January 10th. They issued an “equal weight” rating and a $78.00 price target on the stock. One investment analyst has 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, the company has a consensus rating of “Moderate Buy” and a consensus target price of $75.14.

Insider Buying and Selling

In related news, CEO Joseph Wm Foran bought 6,000 shares of the firm’s stock in a transaction on Friday, February 21st. The shares were bought at an average price of $53.94 per share, with a total value of $323,640.00. Following the completion of the transaction, the chief executive officer now directly owns 39,379 shares of the company’s stock, valued at $2,124,103.26. This represents a 17.98 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Robert T. Macalik bought 1,200 shares of the stock in a transaction on Wednesday, March 5th. The shares were bought at an average cost of $47.98 per share, with a total value of $57,576.00. Following the purchase, the chief accounting officer now owns 31,000 shares of the company’s stock, valued at $1,487,380. This trade represents a 4.03 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 21,530 shares of company stock worth $1,119,092. Company insiders own 6.10% of the company’s stock.

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.