Matador Resources (NYSE:MTDR) Position Cut by Man Group plc

Man Group plc lowered its stake in shares of Matador Resources (NYSE:MTDR - Free Report) by 33.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 231,697 shares of the energy company's stock after selling 116,625 shares during the period. Man Group plc owned about 0.19% of Matador Resources worth $13,035,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MTDR. TCTC Holdings LLC increased its stake in shares of Matador Resources by 53.8% during the 4th quarter. TCTC Holdings LLC now owns 500 shares of the energy company's stock worth $28,000 after purchasing an additional 175 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its stake in Matador Resources by 68.3% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 510 shares of the energy company's stock worth $29,000 after acquiring an additional 207 shares during the period. Atria Investments Inc increased its stake in 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 purchasing an additional 249 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in Matador Resources by 108.5% in the fourth quarter. EverSource Wealth Advisors LLC now owns 492 shares of the energy company's stock valued at $28,000 after purchasing an additional 256 shares during the last quarter. Finally, Arizona State Retirement System lifted its position in Matador Resources by 0.8% during the fourth quarter. Arizona State Retirement System now owns 34,413 shares of the energy company's stock worth $1,936,000 after buying an additional 280 shares during the period. 91.98% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have commented on MTDR. JPMorgan Chase & Co. lowered their price target on Matador Resources from $65.00 to $61.00 and set an "overweight" rating for the company in a report on Thursday, April 10th. Stephens lowered their target price on shares of Matador Resources from $90.00 to $86.00 and set an "overweight" rating for the company in a report on Tuesday, April 15th. Mizuho cut their price target on shares of Matador Resources from $74.00 to $73.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 13th. UBS Group began coverage on shares of Matador Resources in a report on Tuesday, April 22nd. They issued a "neutral" rating and a $47.00 price target on the stock. Finally, Raymond James lowered their price objective on shares of 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 investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, Matador Resources presently has an average rating of "Moderate Buy" and an average target price of $69.44.

Insider Transactions at Matador Resources

In other Matador Resources news, Director Susan M. Ward bought 2,000 shares of the stock in a transaction on Tuesday, February 25th. The stock was purchased at an average price of $52.81 per share, for a total transaction of $105,620.00. Following the completion of the purchase, the director now directly owns 5,844 shares in the company, valued at approximately $308,621.64. This trade represents a 52.03% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Van H. Singleton II purchased 1,000 shares of the firm's stock in a transaction dated Tuesday, February 25th. The stock was acquired at an average cost of $52.72 per share, with a total value of $52,720.00. Following the completion of the acquisition, the insider now directly owns 290,135 shares in the company, valued at approximately $15,295,917.20. This trade represents a 0.35% increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 25,300 shares of company stock valued at $1,113,911. Insiders own 6.10% of the company's stock.

Matador Resources Stock Down 0.8%

Shares of NYSE:MTDR traded down $0.35 during mid-day trading on Friday, hitting $43.25. 284,927 shares of the company traded hands, compared to its average volume of 1,625,774. The firm's 50 day simple moving average is $43.87 and its 200 day simple moving average is $52.14. The firm has a market cap of $5.42 billion, a P/E ratio of 6.07 and a beta of 1.47. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.84 and a current ratio of 0.93. Matador Resources has a 52-week low of $35.19 and a 52-week high of $66.89.

Matador Resources (NYSE:MTDR - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The energy company reported $1.99 EPS for the quarter, topping analysts' consensus estimates 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 25.26% and a return on equity of 18.52%. The firm's revenue was up 28.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.71 EPS. On average, equities analysts anticipate that Matador Resources will post 8.53 EPS for the current year.

Matador Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 9th will be paid a dividend of $0.3125 per share. The ex-dividend date is Friday, May 9th. This represents a $1.25 dividend on an annualized basis and a yield of 2.89%. Matador Resources's dividend payout ratio (DPR) is 16.78%.

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

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.