Pitcairn Co. Increases Holdings in Matador Resources (NYSE:MTDR)

Pitcairn Co. grew its holdings in Matador Resources (NYSE:MTDR) by 9.0% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 8,853 shares of the energy company’s stock after buying an additional 729 shares during the quarter. Pitcairn Co.’s holdings in Matador Resources were worth $498,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Matador Resources by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 12,555,553 shares of the energy company’s stock valued at $706,375,000 after purchasing an additional 187,633 shares in the last quarter. Alliancebernstein L.P. lifted its holdings in Matador Resources by 25.9% in the fourth quarter. Alliancebernstein L.P. now owns 2,698,606 shares of the energy company’s stock worth $151,824,000 after buying an additional 555,245 shares during the period. Geode Capital Management LLC boosted its position in Matador Resources by 1.9% during the 3rd quarter. Geode Capital Management LLC now owns 2,008,730 shares of the energy company’s stock valued at $99,297,000 after acquiring an additional 36,921 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of Matador Resources by 18.4% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,669,957 shares of the energy company’s stock worth $93,952,000 after acquiring an additional 258,958 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Matador Resources by 3.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,491,570 shares of the energy company’s stock worth $83,916,000 after acquiring an additional 56,644 shares in the last quarter. 91.98% of the stock is currently owned by institutional investors.

Insider Activity

In other news, insider Van H. Singleton II acquired 2,000 shares of Matador Resources stock in a transaction that occurred on Friday, February 21st. The stock was bought at an average price of $53.21 per share, for a total transaction of $106,420.00. Following the completion of the transaction, the insider now owns 289,135 shares in the company, valued at $15,384,873.35. The trade was a 0.70 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Christopher P. Calvert bought 1,300 shares of the company’s stock in a transaction on Friday, February 21st. The stock was purchased at an average cost 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 of the company’s stock, valued at approximately $1,875,780. The trade was a 3.98 % increase in their position. The disclosure for this purchase can be found here. Insiders have purchased a total of 21,350 shares of company stock valued at $1,100,769 in the last 90 days. 6.10% of the stock is currently owned by insiders.

Matador Resources Price Performance

Shares of NYSE MTDR opened at $38.21 on Friday. The firm has a market cap of $4.78 billion, a P/E ratio of 5.35 and a beta of 3.17. Matador Resources has a twelve month low of $37.98 and a twelve month high of $71.08. 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 company has a 50 day moving average of $52.76 and a 200 day moving average of $54.78.

Matador Resources (NYSE:MTDR) last posted 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). The business had revenue of $970.37 million during 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%. As a group, research analysts expect that Matador Resources will post 8.53 EPS for the current fiscal year.

Matador Resources Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were paid a dividend of $0.3125 per share. The ex-dividend date was Friday, February 28th. This represents a $1.25 annualized dividend and a yield of 3.27%. This is a boost from Matador Resources’s previous quarterly dividend of $0.25. Matador Resources’s dividend payout ratio is currently 17.51%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on MTDR shares. Royal Bank of Canada restated an “outperform” rating and set a $70.00 price target on shares of Matador Resources in a research report on Wednesday, January 15th. Morgan Stanley dropped their target price on shares of Matador Resources from $84.00 to $68.00 and set an “equal weight” rating on the stock in a report on Thursday, March 27th. Benchmark reiterated a “buy” rating and issued a $62.00 price target on shares of Matador Resources in a research note on Friday, January 17th. Truist Financial boosted their price objective on shares of Matador Resources from $75.00 to $80.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Finally, TD Cowen upped their price objective on shares of Matador Resources from $74.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. One analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, Matador Resources presently has an average rating of “Moderate Buy” and an average target price of $73.79.

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.