Matador Resources Company $MTDR Shares Sold by Oak Ridge Investments LLC

Key Points

• Oak Ridge Investments LLC cut its stake in Matador Resources by 34.1% in Q4, selling 17,483 shares and leaving it with 33,847 shares valued at $1.436 million on its latest SEC filing.
• Matador beat Q4 estimates, reporting $0.87 EPS versus $0.71 expected and $848 million in revenue (down 15.7% YoY), and it pays a quarterly dividend of $0.375 ($1.50 annualized, ~2.5% yield).
• Analysts have a consensus rating of Moderate Buy with a $63.64 target; MTDR trades around $60.26 with a $7.49 billion market cap and a P/E of 9.88.

Oak Ridge Investments LLC cut its holdings in shares of Matador Resources Company (NYSE:MTDR - Free Report) by 34.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 33,847 shares of the energy company's stock after selling 17,483 shares during the period. Oak Ridge Investments LLC's holdings in Matador Resources were worth $1,436,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. lifted its position in Matador Resources by 184.9% during the fourth quarter. Harbor Capital Advisors Inc. now owns 30,836 shares of the energy company's stock valued at $1,309,000 after purchasing an additional 20,011 shares during the period. Vaughan Nelson Investment Management L.P. raised its position in shares of Matador Resources by 64.3% in the third quarter. Vaughan Nelson Investment Management L.P. now owns 1,100,805 shares of the energy company's stock worth $49,459,000 after acquiring an additional 431,010 shares during the period. Thrivent Financial for Lutherans raised its position in shares of Matador Resources by 3.8% in the third quarter. Thrivent Financial for Lutherans now owns 1,032,602 shares of the energy company's stock worth $46,395,000 after acquiring an additional 37,889 shares during the period. Neo Ivy Capital Management acquired a new position in shares of Matador Resources in the third quarter worth about $871,000. Finally, Aquatic Capital Management LLC raised its position in shares of Matador Resources by 264.8% in the third quarter. Aquatic Capital Management LLC now owns 111,727 shares of the energy company's stock worth $5,020,000 after acquiring an additional 81,102 shares during the period. 91.98% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

MTDR has been the subject of a number of analyst reports. Weiss Ratings reiterated a "hold (c-)" rating on shares of Matador Resources in a research report on Friday, January 9th. KeyCorp upped their price objective on shares of Matador Resources from $61.00 to $73.00 and gave the stock an "overweight" rating in a research report on Thursday, April 2nd. Wells Fargo & Company upped their price objective on shares of Matador Resources from $47.00 to $54.00 and gave the stock an "equal weight" rating in a research report on Monday, March 16th. Royal Bank Of Canada decreased their price objective on shares of Matador Resources from $62.00 to $60.00 and set an "outperform" rating for the company in a research report on Tuesday, January 13th. Finally, Roth Mkm reiterated a "neutral" rating and issued a $65.00 price objective (up from $52.00) on shares of Matador Resources in a research report on Wednesday, April 8th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, Matador Resources currently has an average rating of "Moderate Buy" and a consensus target price of $63.64.

Matador Resources Stock Up 0.7%

MTDR stock opened at $60.26 on Tuesday. The stock has a market capitalization of $7.49 billion, a P/E ratio of 9.88 and a beta of 0.91. The firm has a 50-day simple moving average of $55.15 and a 200-day simple moving average of $46.86. The company has a quick ratio of 0.75, a current ratio of 0.79 and a debt-to-equity ratio of 0.57. Matador Resources Company has a 52 week low of $37.14 and a 52 week high of $66.84.

Matador Resources (NYSE:MTDR - Get Free Report) last released its earnings results on Tuesday, February 24th. The energy company reported $0.87 EPS for the quarter, topping analysts' consensus estimates of $0.71 by $0.16. The business had revenue of $847.99 million during the quarter, compared to analysts' expectations of $811.13 million. Matador Resources had a net margin of 20.54% and a return on equity of 12.36%. The company's quarterly revenue was down 15.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.83 earnings per share. Equities analysts forecast that Matador Resources Company will post 8.53 earnings per share for the current fiscal year.

Matador Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 10th. Investors of record on Friday, February 27th were paid a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend was Friday, February 27th. Matador Resources's dividend payout ratio is currently 24.59%.

About Matador Resources

Matador Resources Company is an independent energy firm primarily engaged in the exploration, development and production of oil, natural gas liquids (NGLs) and natural gas. The company focuses on upstream operations, utilizing horizontal drilling and hydraulic fracturing techniques to unlock hydrocarbons from key reservoirs. Its asset base includes both operated and non‐operated positions, with a particular emphasis on the Permian Basin, one of the most prolific oil-producing regions in North America.

Matador's core operations are concentrated in the Delaware Basin segment of the Permian Basin, where it holds substantial acreage in both Reeves and Culberson counties in West Texas and Eddy and Lea counties in New Mexico.

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