Griffin Asset Management Inc. Sells 5,090 Shares of Matador Resources (NYSE:MTDR)

Griffin Asset Management Inc. lessened its stake in Matador Resources (NYSE:MTDR) by 6.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 68,534 shares of the energy company’s stock after selling 5,090 shares during the quarter. Griffin Asset Management Inc. owned about 0.06% of Matador Resources worth $3,897,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in MTDR. Algert Global LLC grew its stake in Matador Resources by 1,500.9% in the third quarter. Algert Global LLC now owns 71,240 shares of the energy company’s stock valued at $4,237,000 after acquiring an additional 66,790 shares during the period. Flputnam Investment Management Co. bought a new position in shares of Matador Resources during the third quarter worth approximately $204,000. Natixis Advisors L.P. increased its stake in shares of Matador Resources by 85.4% during the third quarter. Natixis Advisors L.P. now owns 134,903 shares of the energy company’s stock worth $8,024,000 after purchasing an additional 62,124 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Matador Resources by 2.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,428,877 shares of the energy company’s stock worth $84,990,000 after purchasing an additional 33,859 shares during the period. Finally, William Blair Investment Management LLC bought a new position in shares of Matador Resources during the third quarter worth approximately $33,720,000. Institutional investors own 91.98% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on MTDR. Mizuho increased their price target on Matador Resources from $67.00 to $76.00 and gave the stock a “buy” rating in a research report on Monday, March 18th. Wells Fargo & Company raised their target price on Matador Resources from $73.00 to $76.00 and gave the company an “overweight” rating in a report on Thursday, March 7th. StockNews.com raised Matador Resources from a “sell” rating to a “hold” rating in a report on Thursday, February 22nd. Roth Mkm reaffirmed a “buy” rating and issued a $66.00 target price on shares of Matador Resources in a report on Monday, March 25th. Finally, TD Cowen raised their target price on Matador Resources from $64.00 to $72.00 and gave the company an “outperform” rating in a report on Monday, March 4th. One analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, Matador Resources presently has a consensus rating of “Moderate Buy” and a consensus price target of $71.30.

Matador Resources Trading Up 2.1 %

NYSE MTDR opened at $66.77 on Friday. The company has a quick ratio of 0.98, a current ratio of 1.04 and a debt-to-equity ratio of 0.53. Matador Resources has a twelve month low of $42.04 and a twelve month high of $69.40. The company has a market cap of $7.98 billion, a price-to-earnings ratio of 9.47 and a beta of 3.33. The business’s fifty day moving average is $60.73 and its 200 day moving average is $59.07.

Matador Resources (NYSE:MTDR) last announced its earnings results on Wednesday, February 21st. The energy company reported $1.99 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.04 by ($0.05). The company had revenue of $836.13 million for the quarter, compared to the consensus estimate of $842.96 million. Matador Resources had a return on equity of 21.54% and a net margin of 30.14%. The firm’s revenue for the quarter was up 18.2% on a year-over-year basis. During the same period in the prior year, the business earned $2.08 earnings per share. As a group, sell-side analysts expect that Matador Resources will post 6.72 EPS for the current fiscal year.

Matador Resources Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 13th. Investors of record on Friday, February 23rd were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.20%. The ex-dividend date was Thursday, February 22nd. Matador Resources’s dividend payout ratio is currently 11.35%.

About Matador Resources

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.