Vanguard Group Inc. Sells 19,119 Shares of Matador Resources Company $MTDR

Vanguard Group Inc. trimmed its position in Matador Resources Company (NYSE:MTDR) by 0.1% during the fourth quarter, Holdings Channel reports. The institutional investor owned 14,761,769 shares of the energy company’s stock after selling 19,119 shares during the quarter. Vanguard Group Inc. owned approximately 0.12% of Matador Resources worth $626,489,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Concurrent Investment Advisors LLC boosted its position in shares of Matador Resources by 16.1% in the 4th quarter. Concurrent Investment Advisors LLC now owns 64,794 shares of the energy company’s stock worth $2,750,000 after purchasing an additional 8,973 shares during the last quarter. Copeland Capital Management LLC raised its stake in Matador Resources by 19.6% during the 4th quarter. Copeland Capital Management LLC now owns 1,426,505 shares of the energy company’s stock worth $60,541,000 after buying an additional 233,423 shares during the period. M&T Bank Corp raised its stake in shares of Matador Resources by 19.7% in the 4th quarter. M&T Bank Corp now owns 10,173 shares of the energy company’s stock valued at $432,000 after purchasing an additional 1,672 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH raised its stake in shares of Matador Resources by 17.9% in the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 233,212 shares of the energy company’s stock valued at $9,898,000 after purchasing an additional 35,366 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Matador Resources by 4.6% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 35,284 shares of the energy company’s stock valued at $1,497,000 after purchasing an additional 1,551 shares during the period. 91.98% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on MTDR. Zacks Research raised Matador Resources from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, April 8th. BMO Capital Markets lifted their price target on Matador Resources from $65.00 to $72.00 and gave the stock an “outperform” rating in a report on Monday, April 6th. Weiss Ratings upgraded Matador Resources from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, April 27th. Citigroup boosted their price objective on Matador Resources from $62.00 to $77.00 and gave the stock a “buy” rating in a report on Tuesday, March 31st. Finally, TD Cowen lifted their price target on shares of Matador Resources from $60.00 to $65.00 and gave the company a “buy” rating in a research report on Tuesday, March 17th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $62.62.

Matador Resources Stock Down 0.0%

Shares of NYSE:MTDR opened at $62.34 on Monday. The company has a fifty day moving average of $58.26 and a 200-day moving average of $48.23. The company has a market capitalization of $7.75 billion, a PE ratio of 10.22, a price-to-earnings-growth ratio of 1.93 and a beta of 0.81. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.75 and a current ratio of 0.79. Matador Resources Company has a 52-week low of $37.14 and a 52-week high of $66.84.

Matador Resources (NYSE:MTDR) last announced its quarterly earnings results on Tuesday, February 24th. The energy company reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.16. The company had revenue of $809.55 million during the quarter, compared to the consensus estimate of $811.13 million. Matador Resources had a net margin of 20.54% and a return on equity of 12.36%. The company’s revenue for the quarter was down 15.7% compared to the same quarter last year. During the same period in the prior year, the business earned $1.83 earnings per share. On average, equities analysts predict that Matador Resources Company will post 7.33 EPS for the current fiscal year.

Matador Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 5th. Investors of record on Friday, May 8th will be issued a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date is Friday, May 8th. Matador Resources’s dividend payout ratio is presently 24.59%.

Matador Resources Company Profile

Matador Resources Company is an independent energy firm primarily engaged in the exploration, development and production of oil, natural gas liquids (NGLs) and natural gas. The company focuses on upstream operations, utilizing horizontal drilling and hydraulic fracturing techniques to unlock hydrocarbons from key reservoirs. Its asset base includes both operated and non‐operated positions, with a particular emphasis on the Permian Basin, one of the most prolific oil-producing regions in North America.

Matador’s core operations are concentrated in the Delaware Basin segment of the Permian Basin, where it holds substantial acreage in both Reeves and Culberson counties in West Texas and Eddy and Lea counties in New Mexico.