Allspring Global Investments Holdings LLC Sells 8,599 Shares of Matador Resources Company (NYSE:MTDR)

Allspring Global Investments Holdings LLC lowered its holdings in shares of Matador Resources Company (NYSE:MTDR - Free Report) by 6.2% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 130,655 shares of the energy company's stock after selling 8,599 shares during the period. Allspring Global Investments Holdings LLC owned 0.10% of Matador Resources worth $6,678,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. US Bancorp DE boosted its stake in shares of Matador Resources by 9.7% in the fourth quarter. US Bancorp DE now owns 14,457 shares of the energy company's stock valued at $813,000 after buying an additional 1,283 shares during the period. Smartleaf Asset Management LLC boosted its stake in shares of Matador Resources by 55.8% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,376 shares of the energy company's stock valued at $76,000 after buying an additional 493 shares during the period. SRS Capital Advisors Inc. boosted its stake in shares of Matador Resources by 359.5% in the fourth quarter. SRS Capital Advisors Inc. now owns 579 shares of the energy company's stock valued at $33,000 after buying an additional 453 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of Matador Resources by 3.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,491,570 shares of the energy company's stock valued at $83,916,000 after buying an additional 56,644 shares during the period. Finally, Atria Investments Inc boosted 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 valued at $461,000 after buying an additional 249 shares during the period. Institutional investors own 91.98% of the company's stock.

Matador Resources Price Performance

Shares of Matador Resources stock traded down $0.45 during trading on Friday, hitting $50.21. The stock had a trading volume of 655,820 shares, compared to its average volume of 1,562,817. The firm has a market cap of $6.29 billion, a price-to-earnings ratio of 6.74 and a beta of 1.46. Matador Resources Company has a 12 month low of $35.19 and a 12 month high of $66.89. The business's 50-day moving average is $45.77 and its 200 day moving average is $49.98. The company has a current ratio of 0.79, a quick ratio of 0.76 and a debt-to-equity ratio of 0.56.

Matador Resources (NYSE:MTDR - Get Free Report) last released its earnings results on Wednesday, April 23rd. The energy company reported $1.99 EPS for the quarter, beating analysts' consensus estimates of $1.74 by $0.25. The business had revenue of $1.01 billion for the quarter, compared to analysts' expectations of $980.87 million. Matador Resources had a return on equity of 18.45% and a net margin of 24.97%. The firm's revenue was up 28.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.71 earnings per share. As a group, sell-side analysts anticipate that Matador Resources Company will post 8.53 earnings per share for the current year.

Matador Resources announced that its Board of Directors has approved a stock buyback program on Wednesday, April 23rd that authorizes the company to repurchase $400.00 million in shares. This repurchase authorization authorizes the energy company to repurchase up to 7.8% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company's board of directors believes its stock is undervalued.

Matador Resources Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 6th. Shareholders of record on Friday, May 9th were given a dividend of $0.3125 per share. The ex-dividend date of this dividend was Friday, May 9th. This represents a $1.25 annualized dividend and a yield of 2.49%. Matador Resources's payout ratio is 16.78%.

Insider Buying and Selling at Matador Resources

In other news, EVP Glenn W. Stetson bought 1,000 shares of the company's stock in a transaction dated Monday, April 28th. The stock was bought at an average cost of $41.53 per share, for a total transaction of $41,530.00. Following the completion of the acquisition, the executive vice president owned 93,180 shares in the company, valued at approximately $3,869,765.40. This trade represents a 1.08% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO Christopher P. Calvert bought 1,500 shares of the company's stock in a transaction dated Thursday, May 1st. The shares were purchased at an average price of $41.13 per share, with a total value of $61,695.00. Following the completion of the acquisition, the chief operating officer owned 36,500 shares of the company's stock, valued at $1,501,245. This trade represents a 4.29% increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders bought 14,850 shares of company stock valued at $601,103. 5.80% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have weighed in on MTDR. Stephens cut their target price on Matador Resources from $90.00 to $86.00 and set an "overweight" rating for the company in a research note on Tuesday, April 15th. Royal Bank Of Canada cut 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. Raymond James Financial cut 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. Wells Fargo & Company cut their target price on Matador Resources from $80.00 to $74.00 and set an "overweight" rating for the company in a research note on Monday, June 16th. Finally, KeyCorp cut 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. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $69.06.

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.