GW&K Investment Management LLC Sells 124,604 Shares of Matador Resources (NYSE:MTDR)

GW&K Investment Management LLC lessened its stake in Matador Resources (NYSE:MTDR) by 6.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,767,985 shares of the energy company’s stock after selling 124,604 shares during the period. Matador Resources comprises 0.8% of GW&K Investment Management LLC’s portfolio, making the stock its 14th biggest holding. GW&K Investment Management LLC’s holdings in Matador Resources were worth $99,467,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in 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 valued at $29,000 after acquiring an additional 207 shares in the last quarter. True Wealth Design LLC acquired a new position in shares of Matador Resources in the 3rd quarter valued at $37,000. Denver PWM LLC raised its stake in shares of 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 buying an additional 303 shares in the last quarter. Avior Wealth Management LLC lifted its holdings in shares of Matador Resources by 329.0% during 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 during the period. Finally, First Horizon Advisors Inc. boosted its position in shares of Matador Resources by 90.2% during the 4th quarter. First Horizon Advisors Inc. now owns 858 shares of the energy company’s stock valued at $48,000 after acquiring an additional 407 shares in the last quarter. 91.98% of the stock is owned by institutional investors and hedge funds.

Matador Resources Stock Performance

MTDR stock opened at $52.48 on Friday. The company has a 50 day moving average price of $58.02 and a 200 day moving average price of $55.74. Matador Resources has a fifty-two week low of $47.15 and a fifty-two week high of $71.08. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.93 and a quick ratio of 0.84. The stock has a market capitalization of $6.55 billion, a PE ratio of 7.35 and a beta of 3.22.

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

Matador Resources Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be paid a $0.3125 dividend. This represents a $1.25 annualized dividend and a dividend yield of 2.38%. The ex-dividend date is Friday, February 28th. This is a positive change from Matador Resources’s previous quarterly dividend of $0.25. Matador Resources’s dividend payout ratio (DPR) is 17.51%.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Wolfe Research upgraded shares of Matador Resources from a “peer perform” rating to an “outperform” rating and set a $72.00 price target for the company in a research note on Friday, January 3rd. TD Cowen raised their target price on Matador Resources from $74.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $70.00 price target on shares of Matador Resources in a research note on Wednesday, January 15th. Morgan Stanley began coverage on Matador Resources in a research note on Friday, January 10th. They set an “equal weight” rating and a $78.00 price objective for the company. Finally, Mizuho reduced their target price on shares of Matador Resources from $74.00 to $73.00 and set an “outperform” rating on the stock in a research note on Monday, December 16th. One analyst has rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, Matador Resources has a consensus rating of “Moderate Buy” and a consensus target price of $75.14.

Insider Transactions at Matador Resources

In related news, CEO Joseph Wm Foran purchased 2,000 shares of the stock in a transaction dated Friday, December 6th. The stock was bought at an average cost of $55.18 per share, with a total value of $110,360.00. Following the purchase, the chief executive officer now directly owns 42,251 shares in the company, valued at $2,331,410.18. The trade was a 4.97 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, COO Christopher P. Calvert purchased 1,300 shares of the business’s stock in a transaction that occurred on Friday, February 21st. The stock was purchased at an average price of $55.17 per share, for a total transaction of $71,721.00. Following the completion of the transaction, the chief operating officer now directly owns 34,000 shares in the company, valued at $1,875,780. This trade represents a 3.98 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired a total of 17,330 shares of company stock worth $936,166 in the last quarter. 6.10% of the stock is owned by company insiders.

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.