Massachusetts Financial Services Co. MA Has $71.13 Million Position in Matador Resources Company (NYSE:MTDR)

Massachusetts Financial Services Co. MA cut its stake in shares of Matador Resources Company (NYSE:MTDR - Free Report) by 16.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,392,301 shares of the energy company's stock after selling 277,656 shares during the period. Massachusetts Financial Services Co. MA owned approximately 1.11% of Matador Resources worth $71,133,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. grew its stake in shares of Matador Resources by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 12,555,553 shares of the energy company's stock worth $706,375,000 after purchasing an additional 187,633 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Matador Resources by 0.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 5,444,723 shares of the energy company's stock worth $306,313,000 after purchasing an additional 30,184 shares during the period. Alliancebernstein L.P. grew its stake in shares of Matador Resources by 25.9% during the fourth quarter. Alliancebernstein L.P. now owns 2,698,606 shares of the energy company's stock worth $151,824,000 after purchasing an additional 555,245 shares during the period. LSV Asset Management grew its stake in Matador Resources by 262.0% in the fourth quarter. LSV Asset Management now owns 1,517,308 shares of the energy company's stock valued at $85,364,000 after acquiring an additional 1,098,108 shares during the period. Finally, Beck Mack & Oliver LLC grew its stake in Matador Resources by 6.9% in the fourth quarter. Beck Mack & Oliver LLC now owns 1,418,366 shares of the energy company's stock valued at $79,797,000 after acquiring an additional 91,686 shares during the period. 91.98% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Matador Resources news, insider Van H. Singleton II purchased 1,000 shares of the stock in a transaction on Thursday, May 1st. The shares were purchased at an average price of $40.72 per share, with a total value of $40,720.00. Following the completion of the transaction, the insider directly owned 291,135 shares in the company, valued at $11,855,017.20. This represents a 0.34% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Glenn W. Stetson bought 1,000 shares of the firm's stock in a transaction dated Monday, April 28th. The stock was purchased at an average cost 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 of the company's stock, valued at $3,869,765.40. The trade was a 1.08% increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 14,850 shares of company stock valued at $601,103. 5.80% of the stock is owned by insiders.

Matador Resources Stock Up 3.3%

MTDR traded up $1.66 on Thursday, hitting $51.75. 1,818,061 shares of the company were exchanged, compared to its average volume of 1,566,212. Matador Resources Company has a 12 month low of $35.19 and a 12 month high of $66.03. The company has a market cap of $6.48 billion, a PE ratio of 6.95 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. The stock's fifty day moving average is $47.68 and its 200-day moving average is $49.82.

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

Matador Resources declared that its board has approved a stock repurchase plan on Wednesday, April 23rd that permits the company to repurchase $400.00 million in outstanding shares. This repurchase authorization permits the energy company to buy up to 7.8% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's management believes its shares are undervalued.

Matador Resources Announces Dividend

The firm 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 2.42%. The ex-dividend date of this dividend is Friday, August 15th. Matador Resources's dividend payout ratio (DPR) is presently 16.78%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. TD Cowen raised Matador Resources to a "strong-buy" rating in a research note on Monday, July 7th. UBS Group boosted their target price on Matador Resources from $46.00 to $48.00 and gave the company a "neutral" rating in a research note on Thursday. Stephens decreased 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. Bank of America assumed coverage on Matador Resources in a research note on Monday, May 19th. They issued a "buy" rating and a $56.00 target price for the company. Finally, Morgan Stanley decreased their target price on Matador Resources from $84.00 to $68.00 and set an "equal weight" rating for the company in a research note on Thursday, March 27th. Two analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Matador Resources currently has an average rating of "Moderate Buy" and an average target price of $69.13.

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.