Matador Resources (NYSE:MTDR) Holdings Cut by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS reduced its stake in shares of Matador Resources (NYSE:MTDR) by 17.5% during the 4th quarter, HoldingsChannel reports. The fund owned 164,990 shares of the energy company’s stock after selling 35,035 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Matador Resources were worth $9,381,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. Parkside Financial Bank & Trust increased its position in Matador Resources by 82.0% in the 3rd quarter. Parkside Financial Bank & Trust now owns 444 shares of the energy company’s stock worth $26,000 after purchasing an additional 200 shares during the last quarter. Oakworth Capital Inc. acquired a new stake in Matador Resources in the fourth quarter valued at approximately $31,000. Financial Management Professionals Inc. bought a new stake in Matador Resources in the fourth quarter worth approximately $34,000. McGlone Suttner Wealth Management Inc. bought a new position in shares of Matador Resources during the 4th quarter valued at $35,000. Finally, Money Concepts Capital Corp lifted its stake in shares of Matador Resources by 202.6% in the 4th quarter. Money Concepts Capital Corp now owns 690 shares of the energy company’s stock valued at $39,000 after purchasing an additional 462 shares during the last quarter. 91.98% of the stock is owned by institutional investors and hedge funds.

Matador Resources Stock Performance

MTDR stock traded down $0.13 during midday trading on Friday, hitting $64.61. The stock had a trading volume of 1,494,783 shares, compared to its average volume of 1,717,335. Matador Resources has a 52 week low of $42.04 and a 52 week high of $71.08. The company has a current ratio of 1.04, a quick ratio of 0.98 and a debt-to-equity ratio of 0.53. The stock has a 50-day simple moving average of $64.72 and a 200 day simple moving average of $59.91. The firm has a market capitalization of $7.72 billion, a price-to-earnings ratio of 9.17 and a beta of 3.32.

Matador Resources (NYSE:MTDR) last announced its quarterly earnings data on Wednesday, February 21st. The energy company reported $1.99 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.04 by ($0.05). The business had revenue of $836.13 million during the quarter, compared to analyst estimates of $842.96 million. Matador Resources had a net margin of 30.14% and a return on equity of 21.54%. The company’s quarterly revenue was up 18.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.08 EPS. As a group, equities research analysts anticipate that Matador Resources will post 7.04 earnings per share for the current year.

Matador Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Shareholders of record on Friday, May 17th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date is Thursday, May 16th. Matador Resources’s dividend payout ratio is 11.35%.

Analyst Upgrades and Downgrades

MTDR has been the topic of a number of analyst reports. TD Cowen increased their price objective on Matador Resources from $64.00 to $72.00 and gave the company an “outperform” rating in a report on Monday, March 4th. Mizuho raised their target price on shares of Matador Resources from $67.00 to $76.00 and gave the company a “buy” rating in a research note on Monday, April 1st. Royal Bank of Canada reissued an “outperform” rating and set a $70.00 target price on shares of Matador Resources in a research report on Tuesday, March 5th. Wells Fargo & Company raised their price target on Matador Resources from $76.00 to $85.00 and gave the company an “overweight” rating in a research report on Thursday. Finally, Benchmark dropped their price target on Matador Resources from $71.00 to $62.00 and set a “buy” rating on the stock in a research report on Thursday, January 25th. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Matador Resources presently has an average rating of “Moderate Buy” and an average target price of $73.40.

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.