Matador Resources (NYSE:MTDR) Shares Bought by Crestline Management LP

Crestline Management LP raised its holdings in Matador Resources (NYSE:MTDR - Free Report) by 477.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 26,529 shares of the energy company's stock after purchasing an additional 21,936 shares during the quarter. Crestline Management LP's holdings in Matador Resources were worth $1,493,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in shares of Matador Resources by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 12,555,553 shares of the energy company's stock valued at $706,375,000 after buying an additional 187,633 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Matador Resources by 0.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 5,444,723 shares of the energy company's stock valued at $306,313,000 after buying an additional 30,184 shares during the period. Alliancebernstein L.P. raised its holdings in shares of Matador Resources by 25.9% in the 4th quarter. Alliancebernstein L.P. now owns 2,698,606 shares of the energy company's stock valued at $151,824,000 after buying an additional 555,245 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in shares of Matador Resources by 18.4% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,669,957 shares of the energy company's stock valued at $93,952,000 after buying an additional 258,958 shares during the period. Finally, LSV Asset Management raised its holdings in shares of Matador Resources by 262.0% in the 4th quarter. LSV Asset Management now owns 1,517,308 shares of the energy company's stock valued at $85,364,000 after buying an additional 1,098,108 shares during the period. Hedge funds and other institutional investors own 91.98% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. JPMorgan Chase & Co. cut their price objective on Matador Resources from $65.00 to $61.00 and set an "overweight" rating on the stock in a report on Thursday, April 10th. KeyCorp lowered their target price on Matador Resources from $72.00 to $60.00 and set an "overweight" rating for the company in a research note on Monday, April 21st. Royal Bank of Canada lowered their target price on Matador Resources from $70.00 to $62.00 and set an "outperform" rating for the company in a research note on Friday, April 11th. Truist Financial boosted their target price on Matador Resources from $75.00 to $80.00 and gave the stock a "buy" rating in a research note on Monday, January 13th. Finally, Raymond James lowered their target price on Matador Resources from $77.00 to $67.00 and set an "outperform" rating for the company in a research note on Monday, March 10th. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $70.33.

Matador Resources Stock Up 0.1%

Shares of MTDR traded up $0.06 during mid-day trading on Friday, reaching $42.73. The company's stock had a trading volume of 1,702,564 shares, compared to its average volume of 1,617,681. Matador Resources has a 12-month low of $35.19 and a 12-month high of $66.89. The stock has a market cap of $5.35 billion, a PE ratio of 5.98 and a beta of 1.47. 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 company's 50 day moving average is $44.28 and its 200 day moving average is $52.59.

Matador Resources (NYSE:MTDR - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The energy company reported $1.99 EPS for the quarter, beating analysts' consensus estimates of $1.74 by $0.25. Matador Resources had a return on equity of 18.52% and a net margin of 25.26%. The business had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $980.87 million. During the same quarter in the prior year, the business posted $1.71 EPS. The business's revenue for the quarter was up 28.7% on a year-over-year basis. Equities analysts anticipate that Matador Resources will post 8.53 EPS for the current fiscal year.

Matador Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 9th will be issued a $0.3125 dividend. The ex-dividend date of this dividend is Friday, May 9th. This represents a $1.25 dividend on an annualized basis and a dividend yield of 2.93%. Matador Resources's payout ratio is currently 16.78%.

Matador Resources announced that its Board of Directors has initiated a share repurchase plan on Wednesday, April 23rd that permits the company to repurchase $400.00 million in shares. This repurchase authorization permits the energy company to repurchase up to 7.8% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's leadership believes its shares are undervalued.

Insider Activity

In other news, insider Van H. Singleton II bought 2,000 shares of the firm's stock in a transaction that occurred on Friday, February 21st. The stock was purchased at an average cost of $53.21 per share, with a total value of $106,420.00. Following the transaction, the insider now directly owns 289,135 shares in the company, valued at $15,384,873.35. This trade represents a 0.70% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Joseph Wm Foran bought 2,500 shares of the firm's stock in a transaction that occurred on Wednesday, May 7th. The stock was purchased at an average cost of $39.63 per share, with a total value of $99,075.00. Following the completion of the transaction, the chief executive officer now owns 60,756 shares in the company, valued at approximately $2,407,760.28. This trade represents a 4.29% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 36,200 shares of company stock worth $1,701,872. 6.10% of the stock is currently owned by 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.