Nuveen Asset Management LLC Decreases Position in Matador Resources (NYSE:MTDR)

Nuveen Asset Management LLC reduced its position in Matador Resources (NYSE:MTDR - Free Report) by 28.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 697,332 shares of the energy company's stock after selling 273,017 shares during the period. Nuveen Asset Management LLC owned 0.56% of Matador Resources worth $39,232,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in MTDR. Barclays PLC increased its stake in Matador Resources by 16.1% during the third quarter. Barclays PLC now owns 190,035 shares of the energy company's stock worth $9,391,000 after acquiring an additional 26,289 shares during the last quarter. Park Avenue Securities LLC increased its stake in Matador Resources by 35.1% during the fourth quarter. Park Avenue Securities LLC now owns 8,118 shares of the energy company's stock worth $457,000 after acquiring an additional 2,108 shares during the last quarter. Merit Financial Group LLC bought a new stake in Matador Resources during the fourth quarter worth approximately $251,000. UMB Bank n.a. increased its stake in Matador Resources by 109.1% during the fourth quarter. UMB Bank n.a. now owns 945 shares of the energy company's stock worth $53,000 after acquiring an additional 493 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB increased its stake in Matador Resources by 68.3% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 510 shares of the energy company's stock worth $29,000 after acquiring an additional 207 shares during the last quarter. 91.98% of the stock is currently owned by hedge funds and other institutional investors.

Matador Resources Trading Down 0.4%

NYSE:MTDR traded down $0.18 during midday trading on Friday, hitting $43.42. The stock had a trading volume of 1,046,970 shares, compared to its average volume of 1,631,197. Matador Resources has a one year low of $35.19 and a one year high of $66.89. The company has a market capitalization of $5.44 billion, a price-to-earnings ratio of 6.08 and a beta of 1.47. The stock has a 50-day moving average of $43.87 and a 200 day moving average of $52.14. The company has a quick ratio of 0.84, a current ratio of 0.93 and a debt-to-equity ratio of 0.61.

Matador Resources (NYSE:MTDR - Get Free Report) last announced its quarterly earnings data 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. Matador Resources had a return on equity of 18.52% and a net margin of 25.26%. The company had revenue of $1.01 billion for the quarter, compared to analysts' expectations of $980.87 million. During the same quarter in the prior year, the firm earned $1.71 earnings per share. Matador Resources's 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 company also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 9th will be paid a $0.3125 dividend. The ex-dividend date of this dividend is Friday, May 9th. This represents a $1.25 annualized dividend and a yield of 2.88%. Matador Resources's dividend payout ratio (DPR) is currently 16.78%.

Matador Resources announced that its Board of Directors has authorized a share repurchase program on Wednesday, April 23rd that authorizes the company to buyback $400.00 million in shares. This buyback authorization authorizes the energy company to repurchase up to 7.8% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. UBS Group assumed coverage on Matador Resources in a research note on Tuesday, April 22nd. They set a "neutral" rating and a $47.00 price objective on the stock. Royal Bank of Canada reduced their price objective on Matador Resources from $70.00 to $62.00 and set an "outperform" rating on the stock in a research note on Friday, April 11th. Bank of America assumed coverage on Matador Resources in a research note on Monday. They set a "buy" rating and a $56.00 price objective on the stock. Raymond James reduced their price objective on Matador Resources from $77.00 to $67.00 and set an "outperform" rating on the stock in a research note on Monday, March 10th. Finally, Stephens cut their target price on Matador Resources from $90.00 to $86.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 15th. Two equities 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, Matador Resources presently has an average rating of "Moderate Buy" and an average target price of $69.44.

Insider Buying and Selling

In related news, CAO Robert T. Macalik acquired 1,200 shares of the firm's stock in a transaction that occurred on Wednesday, March 5th. The stock was purchased at an average cost 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 of the company's stock, valued at $1,487,380. This trade represents a 4.03% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Susan M. Ward acquired 2,000 shares of the firm's stock in a transaction that occurred on Tuesday, February 25th. The shares were bought at an average price of $52.81 per share, with a total value of $105,620.00. Following the completion of the purchase, the director now directly owns 5,844 shares in the company, valued at $308,621.64. The trade was a 52.03% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought a total of 25,300 shares of company stock valued at $1,113,911 over the last quarter. 6.10% of the stock is owned by corporate 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.