Lazard Asset Management LLC Has $1.85 Million Position in Matador Resources (NYSE:MTDR)

Lazard Asset Management LLC lowered its stake in shares of Matador Resources (NYSE:MTDR - Free Report) by 72.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 32,963 shares of the energy company's stock after selling 85,656 shares during the period. Lazard Asset Management LLC's holdings in Matador Resources were worth $1,853,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC boosted its holdings in Matador Resources by 16.9% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 139,254 shares of the energy company's stock worth $8,088,000 after buying an additional 20,172 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Matador Resources by 3.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,491,570 shares of the energy company's stock worth $83,916,000 after buying an additional 56,644 shares during the last quarter. Envestnet Asset Management Inc. boosted its holdings in Matador Resources by 49.7% during the fourth quarter. Envestnet Asset Management Inc. now owns 300,301 shares of the energy company's stock worth $16,895,000 after buying an additional 99,711 shares during the last quarter. Shaker Investments LLC OH bought a new position in Matador Resources during the fourth quarter worth about $546,000. Finally, Fisher Asset Management LLC boosted its holdings in Matador Resources by 23.0% during the fourth quarter. Fisher Asset Management LLC now owns 785,610 shares of the energy company's stock worth $44,198,000 after buying an additional 146,922 shares during the last quarter. Institutional investors own 91.98% of the company's stock.

Matador Resources Stock Down 0.4%

NYSE MTDR traded down $0.18 during trading on Friday, hitting $43.42. The stock had a trading volume of 1,046,970 shares, compared to its average volume of 1,631,192. The company has a market capitalization of $5.44 billion, a PE ratio of 6.08 and a beta of 1.47. The company's 50-day moving average price is $43.73 and its two-hundred day moving average price is $52.08. 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 12 month low of $35.19 and a 12 month high of $66.89.

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

Matador Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 9th will be paid a dividend of $0.3125 per share. This represents a $1.25 dividend on an annualized basis and a dividend yield of 2.88%. The ex-dividend date of this dividend is Friday, May 9th. Matador Resources's dividend payout ratio is currently 16.78%.

Matador Resources declared that its board has authorized a share repurchase program on Wednesday, April 23rd that allows the company to buyback $400.00 million in outstanding shares. This buyback authorization allows the energy company to repurchase up to 7.8% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's management believes its shares are undervalued.

Wall Street Analyst Weigh In

MTDR has been the topic of a number of recent analyst reports. Wells Fargo & Company reduced their target price on Matador Resources from $86.00 to $80.00 and set an "overweight" rating on the stock in a report on Monday, April 28th. JPMorgan Chase & Co. cut their price objective on Matador Resources from $65.00 to $61.00 and set an "overweight" rating on the stock in a report on Thursday, April 10th. Mizuho cut their price objective on 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 cut their price objective 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, Royal Bank of Canada cut their price objective on Matador Resources from $70.00 to $62.00 and set an "outperform" rating on the stock in a report on Friday, April 11th. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $69.44.

Insider Transactions at Matador Resources

In related news, EVP William Thomas Elsener acquired 750 shares of the company's stock in a transaction dated Thursday, May 1st. The shares were bought at an average price of $40.10 per share, for a total transaction of $30,075.00. Following the purchase, the executive vice president now directly owns 111,197 shares in the company, valued at approximately $4,458,999.70. This trade represents a 0.68% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Van H. Singleton II bought 1,000 shares of the firm's stock in a transaction that occurred on Tuesday, February 25th. The shares were acquired at an average cost of $52.72 per share, for a total transaction of $52,720.00. Following the completion of the acquisition, the insider now directly owns 290,135 shares in the company, valued at $15,295,917.20. The trade was a 0.35% increase in their position. The disclosure for this purchase can be found here. Insiders have purchased a total of 25,300 shares of company stock worth $1,113,911 in the last 90 days. Corporate insiders own 6.10% of the company's stock.

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.