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

Essex Investment Management Co. LLC lessened its holdings in shares of Matador Resources (NYSE:MTDR) by 9.1% during the 4th quarter, Holdings Channel reports. 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 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. MassMutual Private Wealth & Trust FSB increased its stake in Matador Resources by 68.3% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 510 shares of the energy company’s stock worth $29,000 after buying an additional 207 shares during the period. ClearAlpha Technologies LP grew its stake in shares of Matador Resources by 4.3% in the third quarter. ClearAlpha Technologies LP now owns 5,250 shares of the energy company’s stock worth $259,000 after acquiring an additional 218 shares in the last quarter. Atria Investments Inc grew its stake in shares of Matador Resources by 3.1% in the fourth quarter. Atria Investments Inc now owns 8,188 shares of the energy company’s stock worth $461,000 after acquiring an additional 249 shares in the last quarter. Arizona State Retirement System increased its position in shares of Matador Resources by 0.8% during the fourth quarter. Arizona State Retirement System now owns 34,413 shares of the energy company’s stock worth $1,936,000 after acquiring an additional 280 shares during the period. Finally, Denver PWM LLC raised its stake in shares of Matador Resources by 67.2% in the third quarter. Denver PWM LLC now owns 754 shares of the energy company’s stock valued at $37,000 after acquiring an additional 303 shares in the last quarter. Hedge funds and other institutional investors own 91.98% of the company’s stock.

Matador Resources Stock Performance

NYSE MTDR opened at $45.27 on Monday. The company has a fifty day moving average of $57.21 and a two-hundred day moving average of $55.34. The company has a market capitalization of $5.67 billion, a PE ratio of 6.34 and a beta of 3.17. Matador Resources has a 1 year low of $43.89 and a 1 year 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.

Matador Resources (NYSE:MTDR) last announced its earnings results on Tuesday, February 18th. The energy company reported $1.83 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.88 by ($0.05). The firm had revenue of $970.37 million during the quarter, compared to analyst estimates of $967.10 million. Matador Resources had a net margin of 25.26% and a return on equity of 18.52%. As a group, analysts expect that Matador Resources will post 8.53 earnings per share 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 issued a $0.3125 dividend. This represents a $1.25 dividend on an annualized basis and a dividend yield of 2.76%. This is a boost from Matador Resources’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Friday, February 28th. Matador Resources’s payout ratio is presently 17.51%.

Wall Street Analyst Weigh In

Several research firms recently commented on MTDR. Morgan Stanley assumed coverage on Matador Resources in a research note on Friday, January 10th. They set an “equal weight” rating and a $78.00 target price for the company. Wells Fargo & Company boosted their price objective on Matador Resources from $87.00 to $91.00 and gave the stock an “overweight” rating in a research 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 target price on the stock in a report on Friday, January 3rd. 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. Finally, Truist Financial increased their price objective on shares of Matador Resources from $75.00 to $80.00 and gave the company a “buy” rating in a research report on Monday, January 13th. One equities research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $75.14.

Insider Activity at Matador Resources

In related news, EVP William Thomas Elsener purchased 800 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The shares were purchased at an average price of $56.60 per share, for a total transaction of $45,280.00. Following the transaction, the executive vice president now directly owns 102,964 shares of the company’s stock, valued at approximately $5,827,762.40. The trade was a 0.78 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Timothy E. Parker acquired 2,000 shares of the firm’s stock in a transaction on Wednesday, March 5th. The shares were bought at an average cost of $44.67 per share, with a total value of $89,340.00. Following the completion of the transaction, the director now directly owns 83,790 shares in the company, valued at $3,742,899.30. This trade represents a 2.45 % increase in their position. The disclosure for this purchase can be found here. Insiders acquired a total of 21,530 shares of company stock worth $1,119,092 in the last 90 days. 6.10% of the stock is owned by insiders.

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.