Cerity Partners LLC Sells 8,428 Shares of Matador Resources Company (NYSE:MTDR)

Cerity Partners LLC trimmed its position in shares of Matador Resources Company (NYSE:MTDR - Free Report) by 11.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 66,823 shares of the energy company's stock after selling 8,428 shares during the period. Cerity Partners LLC owned about 0.05% of Matador Resources worth $3,414,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of MTDR. HighTower Advisors LLC increased its position in shares of Matador Resources by 8.4% during the fourth quarter. HighTower Advisors LLC now owns 7,768 shares of the energy company's stock valued at $437,000 after buying an additional 604 shares during the period. EverSource Wealth Advisors LLC grew its holdings in Matador Resources by 108.5% in the fourth quarter. EverSource Wealth Advisors LLC now owns 492 shares of the energy company's stock worth $28,000 after purchasing an additional 256 shares during the period. Avantax Advisory Services Inc. purchased a new stake in Matador Resources in the fourth quarter worth about $515,000. Madison Investment Advisors LLC purchased a new stake in Matador Resources in the fourth quarter worth about $12,433,000. Finally, Envestnet Portfolio Solutions Inc. grew its holdings in Matador Resources by 8.1% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 9,630 shares of the energy company's stock worth $542,000 after purchasing an additional 723 shares during the period. 91.98% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. KeyCorp lowered their price objective on shares of Matador Resources from $72.00 to $60.00 and set an "overweight" rating on the stock in a research report on Monday, April 21st. TD Cowen upgraded shares of Matador Resources to a "strong-buy" rating in a research report on Monday, July 7th. UBS Group raised their target price on shares of Matador Resources from $46.00 to $48.00 and gave the stock a "neutral" rating in a report on Thursday, July 17th. Mizuho decreased their price objective on shares of Matador Resources from $74.00 to $73.00 and set an "outperform" rating for the company in a report on Tuesday, May 13th. Finally, Wells Fargo & Company cut their target price 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. Two investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $69.13.

Matador Resources Trading Up 2.0%

NYSE:MTDR traded up $1.02 on Tuesday, hitting $50.88. 2,609,685 shares of the stock were exchanged, compared to its average volume of 1,577,194. The stock has a market capitalization of $6.37 billion, a price-to-earnings ratio of 6.83 and a beta of 1.46. Matador Resources Company has a 52 week low of $35.19 and a 52 week high of $64.26. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.76 and a current ratio of 0.79. The company's 50-day moving average price is $47.85 and its 200 day moving average price is $49.69.

Matador Resources (NYSE:MTDR - Get Free Report) last issued its quarterly earnings data on Tuesday, July 22nd. The energy company reported $1.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.37 by $0.16. Matador Resources had a return on equity of 18.45% and a net margin of 24.97%. During the same period last year, the firm posted $2.05 earnings per share. Matador Resources's revenue was up 8.2% compared to the same quarter last year. On average, equities research analysts forecast that Matador Resources Company will post 8.53 earnings per share for the current year.

Matador Resources Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 5th. Shareholders of record on Friday, August 15th will be given a dividend of $0.3125 per share. This represents a $1.25 dividend on an annualized basis and a yield of 2.46%. The ex-dividend date of this dividend is Friday, August 15th. Matador Resources's dividend payout ratio (DPR) is currently 16.78%.

Matador Resources announced that its board has authorized a stock repurchase plan on Wednesday, April 23rd that allows the company to repurchase $400.00 million in outstanding shares. This repurchase authorization allows the energy company to purchase up to 7.8% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's leadership believes its stock is undervalued.

Insider Activity at Matador Resources

In other Matador Resources news, EVP William Thomas Elsener purchased 750 shares of the company's stock in a transaction that occurred on Thursday, May 1st. The shares were acquired at an average price of $40.10 per share, for a total transaction of $30,075.00. Following the purchase, the executive vice president owned 111,197 shares in the company, valued at approximately $4,458,999.70. The trade was a 0.68% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Glenn W. Stetson acquired 1,000 shares of the stock in a transaction on Monday, April 28th. The shares were purchased at an average price of $41.53 per share, for a total transaction of $41,530.00. Following the transaction, the executive vice president directly owned 93,180 shares in the company, valued at approximately $3,869,765.40. This trade represents a 1.08% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 14,850 shares of company stock worth $601,103. Insiders own 5.80% of the company's stock.

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.