Wedge Capital Management L L P NC Has $3.09 Million Holdings in Matador Resources (NYSE:MTDR)

Wedge Capital Management L L P NC trimmed its holdings in Matador Resources (NYSE:MTDR - Free Report) by 14.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 60,389 shares of the energy company's stock after selling 10,154 shares during the period. Wedge Capital Management L L P NC's holdings in Matador Resources were worth $3,085,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in Matador Resources by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 12,555,553 shares of the energy company's stock valued at $706,375,000 after buying an additional 187,633 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Matador Resources by 0.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 5,444,723 shares of the energy company's stock valued at $306,313,000 after acquiring an additional 30,184 shares during the period. Alliancebernstein L.P. lifted its holdings in shares of Matador Resources by 25.9% during the 4th quarter. Alliancebernstein L.P. now owns 2,698,606 shares of the energy company's stock valued at $151,824,000 after acquiring an additional 555,245 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in Matador Resources by 18.4% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,669,957 shares of the energy company's stock worth $93,952,000 after purchasing an additional 258,958 shares during the period. Finally, LSV Asset Management increased its holdings in Matador Resources by 262.0% in the 4th quarter. LSV Asset Management now owns 1,517,308 shares of the energy company's stock valued at $85,364,000 after purchasing an additional 1,098,108 shares in the last quarter. Hedge funds and other institutional investors own 91.98% of the company's stock.

Wall Street Analyst Weigh In

MTDR has been the subject of a number of recent research reports. Stephens lowered their price objective on shares of Matador Resources from $90.00 to $86.00 and set an "overweight" rating for the company in a research report on Tuesday, April 15th. Bank of America assumed coverage on Matador Resources in a research report on Monday, May 19th. They issued a "buy" rating and a $56.00 target price on the stock. Wells Fargo & Company reduced their price target on Matador Resources from $86.00 to $80.00 and set an "overweight" rating for the company in a research report on Monday, April 28th. Morgan Stanley lowered their price target on Matador Resources from $84.00 to $68.00 and set an "equal weight" rating on the stock in a report on Thursday, March 27th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Matador Resources from $65.00 to $61.00 and set an "overweight" rating on the stock in a research note on Thursday, April 10th. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $69.44.

Matador Resources Trading Up 2.8%

Shares of NYSE:MTDR traded up $1.29 during mid-day trading on Tuesday, hitting $47.95. The stock had a trading volume of 1,419,553 shares, compared to its average volume of 1,620,739. The company's 50 day moving average is $42.12 and its 200-day moving average is $50.94. Matador Resources has a 12-month low of $35.19 and a 12-month high of $66.89. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.84 and a current ratio of 0.93. The company has a market cap of $6.00 billion, a PE ratio of 6.72 and a beta of 1.46.

Matador Resources (NYSE:MTDR - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The energy company reported $1.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.74 by $0.25. The company had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $980.87 million. Matador Resources had a net margin of 25.26% and a return on equity of 18.52%. The company's revenue was up 28.7% on a year-over-year basis. During the same period in the previous year, the business earned $1.71 EPS. On average, sell-side analysts predict that Matador Resources will post 8.53 EPS for the current year.

Matador Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 6th. Investors of record on Friday, May 9th were paid a $0.3125 dividend. This represents a $1.25 annualized dividend and a yield of 2.61%. The ex-dividend date of this dividend was Friday, May 9th. Matador Resources's dividend payout ratio is currently 16.78%.

Matador Resources declared that its board has approved a share repurchase program 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 stock through open market purchases. Stock repurchase programs are usually a sign that the company's board believes its stock is undervalued.

Insiders Place Their Bets

In other news, EVP Glenn W. Stetson purchased 1,000 shares of the business's stock in a transaction dated Monday, April 28th. The stock was bought at an average cost of $41.53 per share, with a total value of $41,530.00. Following the purchase, the executive vice president now directly owns 93,180 shares of the company's stock, valued at approximately $3,869,765.40. This trade represents a 1.08% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP William Thomas Elsener purchased 750 shares of Matador Resources stock in a transaction dated Thursday, May 1st. The shares were purchased at an average price of $40.10 per share, with a total value of $30,075.00. Following the completion of the acquisition, the executive vice president now owns 111,197 shares in the company, valued at $4,458,999.70. The trade was a 0.68% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 15,350 shares of company stock worth $624,848. 5.80% of the stock is currently owned by company insiders.

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.