Northwestern Mutual Wealth Management Co. Sells 197,799 Shares of Matador Resources Company $MTDR

Key Points

• Northwestern Mutual Wealth Management Co. significantly reduced its stake in Matador Resources Company by 92.1% during the first quarter, now holding only 17,053 shares worth $871,000.
• Matador Resources reported a quarterly earnings per share (EPS) of $1.53, surpassing estimates and indicating an 8.2% year-over-year revenue increase.
• Matador Resources declared a quarterly dividend of $0.3125 per share with a yield of 2.5%, scheduled to be paid on September 5th.

Northwestern Mutual Wealth Management Co. lowered its stake in shares of Matador Resources Company (NYSE:MTDR - Free Report) by 92.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,053 shares of the energy company's stock after selling 197,799 shares during the quarter. Northwestern Mutual Wealth Management Co.'s holdings in Matador Resources were worth $871,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Concurrent Investment Advisors LLC grew its stake in shares of Matador Resources by 0.4% in the 1st quarter. Concurrent Investment Advisors LLC now owns 55,482 shares of the energy company's stock worth $2,835,000 after acquiring an additional 244 shares in the last quarter. State of Wyoming grew its position in Matador Resources by 11.6% in the 4th quarter. State of Wyoming now owns 2,772 shares of the energy company's stock worth $156,000 after purchasing an additional 288 shares in the last quarter. State of Michigan Retirement System increased its stake in Matador Resources by 1.1% in the 1st quarter. State of Michigan Retirement System now owns 27,800 shares of the energy company's stock valued at $1,420,000 after buying an additional 300 shares during the last quarter. Louisiana State Employees Retirement System lifted its position in shares of Matador Resources by 0.9% during the 1st quarter. Louisiana State Employees Retirement System now owns 32,500 shares of the energy company's stock worth $1,660,000 after buying an additional 300 shares in the last quarter. Finally, Janney Montgomery Scott LLC boosted its stake in shares of Matador Resources by 3.2% in the 1st quarter. Janney Montgomery Scott LLC now owns 10,868 shares of the energy company's stock worth $555,000 after buying an additional 340 shares during the last quarter. 91.98% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CEO Joseph Wm Foran acquired 2,000 shares of Matador Resources stock in a transaction on Tuesday, August 19th. The stock was acquired at an average cost of $46.25 per share, for a total transaction of $92,500.00. Following the purchase, the chief executive officer owned 8,606 shares in the company, valued at $398,027.50. This trade represents a 30.28% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 5.80% of the company's stock.

Matador Resources Price Performance

NYSE MTDR traded up $1.16 on Thursday, hitting $50.09. The stock had a trading volume of 617,728 shares, compared to its average volume of 1,682,352. The company has a market capitalization of $6.24 billion, a price-to-earnings ratio of 7.33 and a beta of 1.49. Matador Resources Company has a 52-week low of $35.19 and a 52-week high of $64.04. The firm has a 50-day moving average of $49.37 and a 200-day moving average of $47.28. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.81 and a current ratio of 0.85.

Matador Resources (NYSE:MTDR - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The energy company reported $1.53 earnings per share for the quarter, beating analysts' consensus estimates of $1.29 by $0.24. Matador Resources had a return on equity of 16.53% and a net margin of 22.57%.The business had revenue of $895.31 million for the quarter, compared to the consensus estimate of $892.86 million. During the same quarter last year, the business posted $2.05 earnings per share. The company's revenue for the quarter was up 8.2% on a year-over-year basis. Equities analysts expect that Matador Resources Company will post 8.53 EPS for the current year.

Matador Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 5th. Shareholders of record on Friday, August 15th will be issued a $0.3125 dividend. This represents a $1.25 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date is Friday, August 15th. Matador Resources's dividend payout ratio is 18.30%.

Analyst Ratings Changes

Several research analysts have weighed in on MTDR shares. Wells Fargo & Company cut their price objective on Matador Resources from $80.00 to $74.00 and set an "overweight" rating on the stock in a research report on Monday, June 16th. William Blair started coverage on shares of Matador Resources in a research report on Monday, August 25th. They set an "outperform" rating for the company. Bank of America began coverage on shares of Matador Resources in a research report on Monday, May 19th. They issued a "buy" rating and a $56.00 price objective on the stock. Raymond James Financial raised their price target on shares of Matador Resources from $60.00 to $63.00 and gave the stock an "outperform" rating in a research note on Thursday, July 31st. Finally, UBS Group reduced their price objective on Matador Resources from $49.00 to $48.00 and set a "neutral" rating for the company in a report on Wednesday, August 20th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $67.53.

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.