Matador Resources Company (NYSE:MTDR) Shares Sold by Cerity Partners LLC

Cerity Partners LLC reduced its stake in shares of Matador Resources Company (NYSE:MTDR - Free Report) by 11.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 66,823 shares of the energy company's stock after selling 8,428 shares during the quarter. Cerity Partners LLC owned about 0.05% of Matador Resources worth $3,414,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. LSV Asset Management grew its position in Matador Resources by 262.0% during the 4th quarter. LSV Asset Management now owns 1,517,308 shares of the energy company's stock worth $85,364,000 after purchasing an additional 1,098,108 shares during the period. Webs Creek Capital Management LP purchased a new stake in shares of Matador Resources during the 4th quarter valued at approximately $37,894,000. Alliancebernstein L.P. increased its holdings in 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 purchasing an additional 555,245 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Matador Resources in the 4th quarter valued at approximately $22,509,000. Finally, Balyasny Asset Management L.P. grew its stake in shares of Matador Resources by 101.7% in the fourth quarter. Balyasny Asset Management L.P. now owns 734,626 shares of the energy company's stock worth $41,330,000 after acquiring an additional 370,388 shares in the last quarter. Institutional investors own 91.98% of the company's stock.

Insider Buying and Selling

In other Matador Resources news, insider Van H. Singleton II bought 1,000 shares of the company's stock in a transaction dated Thursday, May 1st. The shares were purchased at an average price of $40.72 per share, for a total transaction of $40,720.00. Following the acquisition, the insider owned 291,135 shares in the company, valued at approximately $11,855,017.20. This represents a 0.34% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Christopher P. Calvert bought 1,500 shares of the stock in a transaction on Thursday, May 1st. The shares were bought at an average price of $41.13 per share, for a total transaction of $61,695.00. Following the purchase, the chief operating officer directly owned 36,500 shares in the company, valued at approximately $1,501,245. This trade represents a 4.29% increase in their position. The disclosure for this purchase can be found here. Insiders have bought a total of 14,850 shares of company stock valued at $601,103 over the last 90 days. 5.80% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. UBS Group upped their target price on shares of Matador Resources from $46.00 to $48.00 and gave the stock a "neutral" rating in a research report on Thursday. Morgan Stanley decreased their price objective on shares of Matador Resources from $84.00 to $68.00 and set an "equal weight" rating for the company in a report on Thursday, March 27th. Wells Fargo & Company cut their price objective on shares of Matador Resources from $80.00 to $74.00 and set an "overweight" rating on the stock in a research report on Monday, June 16th. Bank of America assumed coverage on shares of Matador Resources in a research report on Monday, May 19th. They set a "buy" rating and a $56.00 price target on the stock. Finally, Stephens dropped their target price on shares of Matador Resources from $90.00 to $86.00 and set an "overweight" rating on the stock in a report on Tuesday, April 15th. Two equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $69.13.

Matador Resources Stock Performance

Shares of MTDR traded down $0.43 during trading hours on Friday, reaching $51.33. 1,933,233 shares of the company traded hands, compared to its average volume of 1,567,874. The stock's fifty day moving average is $47.85 and its 200 day moving average is $49.74. The stock has a market cap of $6.43 billion, a P/E ratio of 6.89 and a beta of 1.46. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.76 and a current ratio of 0.79. Matador Resources Company has a 1-year low of $35.19 and a 1-year high of $64.26.

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

Matador Resources announced that its board has authorized a stock repurchase program on Wednesday, April 23rd that allows the company to buyback $400.00 million in shares. This buyback authorization allows the energy company to purchase up to 7.8% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's management believes its shares are undervalued.

Matador Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 5th. Shareholders of record on Friday, August 15th will be paid a $0.3125 dividend. This represents a $1.25 dividend on an annualized basis and a dividend yield of 2.44%. The ex-dividend date of this dividend is Friday, August 15th. Matador Resources's dividend payout ratio (DPR) is 16.78%.

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.