Matador Resources (NYSE:MTDR) Stake Lessened by Meritage Portfolio Management

Meritage Portfolio Management lessened its stake in Matador Resources (NYSE:MTDR) by 1.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 80,990 shares of the energy company’s stock after selling 813 shares during the period. Meritage Portfolio Management owned about 0.07% of Matador Resources worth $4,605,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Bailard Inc. increased its stake in shares of Matador Resources by 6.0% in the fourth quarter. Bailard Inc. now owns 6,892 shares of the energy company’s stock worth $392,000 after buying an additional 392 shares during the last quarter. Atria Wealth Solutions Inc. increased its stake in Matador Resources by 5.3% during the fourth quarter. Atria Wealth Solutions Inc. now owns 3,880 shares of the energy company’s stock valued at $221,000 after purchasing an additional 195 shares during the last quarter. South Dakota Investment Council increased its stake in Matador Resources by 1.8% during the fourth quarter. South Dakota Investment Council now owns 100,168 shares of the energy company’s stock valued at $5,696,000 after purchasing an additional 1,762 shares during the last quarter. GAMMA Investing LLC bought a new stake in Matador Resources during the fourth quarter valued at $53,000. Finally, Wedge Capital Management L L P NC increased its stake in Matador Resources by 31.2% during the fourth quarter. Wedge Capital Management L L P NC now owns 92,100 shares of the energy company’s stock valued at $5,237,000 after purchasing an additional 21,924 shares during the last quarter. Institutional investors own 91.98% of the company’s stock.

Matador Resources Price Performance

NYSE MTDR traded up $0.29 on Thursday, reaching $65.58. The company’s stock had a trading volume of 1,270,088 shares, compared to its average volume of 1,405,425. Matador Resources has a twelve month low of $42.04 and a twelve month high of $71.08. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.98 and a current ratio of 1.04. The stock has a market cap of $7.84 billion, a PE ratio of 8.97 and a beta of 3.32. The firm’s 50 day moving average is $65.25 and its two-hundred day moving average is $60.16.

Matador Resources (NYSE:MTDR) last issued its quarterly earnings results on Tuesday, April 23rd. The energy company reported $1.71 earnings per share for the quarter, beating analysts’ consensus estimates of $1.39 by $0.32. Matador Resources had a net margin of 28.89% and a return on equity of 21.63%. The company had revenue of $787.70 million during the quarter, compared to the consensus estimate of $740.99 million. During the same period in the prior year, the company earned $1.50 EPS. Matador Resources’s revenue was up 40.6% on a year-over-year basis. As a group, sell-side analysts predict that Matador Resources will post 7.3 EPS for the current year.

Matador Resources Dividend Announcement

The company also recently disclosed 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 1.22%. The ex-dividend date is Thursday, May 16th. Matador Resources’s dividend payout ratio is presently 10.96%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. KeyCorp upped their price target on shares of Matador Resources from $71.00 to $76.00 and gave the stock an “overweight” rating in a research report on Monday. Roth Mkm restated a “buy” rating and set a $66.00 price target on shares of Matador Resources in a research report on Monday, March 25th. Raymond James lowered their price target on shares of Matador Resources from $76.00 to $70.00 and set an “outperform” rating for the company in a research report on Monday, January 8th. Benchmark lowered their price target on shares of Matador Resources from $71.00 to $62.00 and set a “buy” rating for the company in a research report on Tuesday. Finally, TD Cowen upped their price objective on shares of Matador Resources from $64.00 to $72.00 and gave the stock an “outperform” rating in a report on Monday, March 4th. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $74.10.

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.