Man Group plc Sells 116,625 Shares of Matador Resources (NYSE:MTDR)

Man Group plc trimmed its position in shares of Matador Resources (NYSE:MTDR - Free Report) by 33.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 231,697 shares of the energy company's stock after selling 116,625 shares during the quarter. Man Group plc owned approximately 0.19% of Matador Resources worth $13,035,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of MTDR. Nomura Holdings Inc. acquired a new stake in shares of Matador Resources during the fourth quarter worth approximately $866,000. Merewether Investment Management LP acquired a new position in shares of Matador Resources during the 4th quarter worth $15,701,000. Jacobs Levy Equity Management Inc. grew its stake in shares of Matador Resources by 114.7% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 24,412 shares of the energy company's stock worth $1,373,000 after purchasing an additional 13,040 shares during the last quarter. GeoSphere Capital Management LLC bought a new stake in shares of Matador Resources in the 4th quarter valued at $2,138,000. Finally, Crestline Management LP lifted its holdings in shares of Matador Resources by 477.6% in the fourth quarter. Crestline Management LP now owns 26,529 shares of the energy company's stock valued at $1,493,000 after purchasing an additional 21,936 shares in the last quarter. 91.98% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Raymond James lowered their price target on Matador Resources from $77.00 to $67.00 and set an "outperform" rating on the stock in a research report on Monday, March 10th. JPMorgan Chase & Co. dropped their price objective on shares of Matador Resources from $65.00 to $61.00 and set an "overweight" rating for the company in a research note on Thursday, April 10th. Mizuho cut their price objective on shares of Matador Resources from $74.00 to $73.00 and set an "outperform" rating on the stock in a report on Tuesday, May 13th. Morgan Stanley decreased their price target on shares of Matador Resources from $84.00 to $68.00 and set an "equal weight" rating on the stock in a research note on Thursday, March 27th. Finally, Stephens cut their price objective 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. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $69.44.

Insider Activity at Matador Resources

In other Matador Resources news, CAO Robert T. Macalik purchased 1,200 shares of the company's stock in a transaction dated Wednesday, March 5th. The shares were bought at an average price of $47.98 per share, for a total transaction of $57,576.00. Following the purchase, the chief accounting officer now directly owns 31,000 shares in the company, valued at $1,487,380. This trade represents a 4.03% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Paul W. Harvey bought 600 shares of the business's stock in a transaction on Friday, February 21st. The shares were bought at an average price of $55.20 per share, for a total transaction of $33,120.00. Following the completion of the acquisition, the director now owns 27,917 shares of the company's stock, valued at approximately $1,541,018.40. This represents a 2.20% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought a total of 36,200 shares of company stock valued at $1,701,872 over the last three months. 6.10% of the stock is owned by insiders.

Matador Resources Price Performance

Shares of MTDR stock traded down $0.04 during mid-day trading on Tuesday, reaching $44.25. The stock had a trading volume of 1,394,936 shares, compared to its average volume of 1,629,305. Matador Resources has a 12-month low of $35.19 and a 12-month high of $66.89. The company has a market cap of $5.54 billion, a P/E ratio of 6.20 and a beta of 1.47. The company has a current ratio of 0.93, a quick ratio of 0.84 and a debt-to-equity ratio of 0.61. The business has a 50-day simple moving average of $44.10 and a 200 day simple moving average of $52.27.

Matador Resources (NYSE:MTDR - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The energy company reported $1.99 earnings per share for the quarter, beating analysts' consensus estimates of $1.74 by $0.25. The company 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%. Matador Resources's revenue for the quarter was up 28.7% on a year-over-year basis. During the same quarter last year, the business earned $1.71 EPS. On average, sell-side analysts anticipate that Matador Resources will post 8.53 earnings per share 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 of this dividend is Friday, May 9th. This represents a $1.25 dividend on an annualized basis and a yield of 2.82%. Matador Resources's dividend payout ratio (DPR) is 16.78%.

Matador Resources declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, April 23rd that permits the company to buyback $400.00 million in outstanding shares. This buyback authorization permits the energy company to repurchase up to 7.8% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's leadership believes its stock is undervalued.

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.