Price T Rowe Associates Inc. MD Sells 216,385 Shares of Matador Resources Company $MTDR

Key Points

• Price T Rowe Associates Inc. has reduced its stake in Matador Resources Company by 22.5%, selling 216,385 shares, and now holds approximately 0.59% of the company, worth about $38 million.
• Insider activity includes CEO Joseph Wm Foran purchasing 2,000 shares at $46.25 each, increasing his ownership by over 30%.
• Research firms have varying ratings for Matador Resources, with TD Cowen giving it a "strong-buy" rating and a consensus target price of $67.60, while some analysts have downgraded their price targets.

Price T Rowe Associates Inc. MD trimmed its holdings in shares of Matador Resources Company (NYSE:MTDR - Free Report) by 22.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 744,058 shares of the energy company's stock after selling 216,385 shares during the period. Price T Rowe Associates Inc. MD owned about 0.59% of Matador Resources worth $38,015,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MTDR. Marshall Wace LLP grew its holdings in Matador Resources by 52.6% during the 4th quarter. Marshall Wace LLP now owns 6,374 shares of the energy company's stock worth $359,000 after acquiring an additional 2,196 shares in the last quarter. Stifel Financial Corp grew its holdings in Matador Resources by 156.0% during the 4th quarter. Stifel Financial Corp now owns 77,570 shares of the energy company's stock worth $4,364,000 after acquiring an additional 47,266 shares in the last quarter. Northern Trust Corp grew its holdings in Matador Resources by 22.9% during the 4th quarter. Northern Trust Corp now owns 1,166,077 shares of the energy company's stock worth $65,603,000 after acquiring an additional 217,339 shares in the last quarter. AQR Capital Management LLC grew its holdings in Matador Resources by 16.0% during the 4th quarter. AQR Capital Management LLC now owns 923,725 shares of the energy company's stock worth $51,498,000 after acquiring an additional 127,388 shares in the last quarter. Finally, Schonfeld Strategic Advisors LLC purchased a new stake in shares of Matador Resources during the fourth quarter valued at about $961,000. 91.98% of the stock is currently owned by institutional investors.

Insider Activity at Matador Resources

In other news, CEO Joseph Wm Foran acquired 2,000 shares of the company's stock in a transaction dated Tuesday, August 19th. The shares were acquired at an average price of $46.25 per share, with a total value of $92,500.00. Following the purchase, the chief executive officer directly owned 8,606 shares of the company's stock, valued at $398,027.50. This trade represents a 30.28% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 5.80% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have commented on MTDR. TD Cowen raised shares of Matador Resources to a "strong-buy" rating in a research report on Monday, July 7th. William Blair began coverage on shares of Matador Resources in a research report on Monday. They set an "outperform" rating for the company. Raymond James Financial increased their price target on shares of Matador Resources from $60.00 to $63.00 and gave the company an "outperform" rating in a research report on Thursday, July 31st. UBS Group decreased their price target on shares of Matador Resources from $49.00 to $48.00 and set a "neutral" rating for the company in a research report on Wednesday, August 20th. Finally, Mizuho decreased their price target on shares of Matador Resources from $74.00 to $73.00 and set an "outperform" rating for the company in a research report on Tuesday, May 13th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, Matador Resources has an average rating of "Moderate Buy" and a consensus target price of $67.60.

Matador Resources Stock Performance

Shares of Matador Resources stock opened at $49.92 on Thursday. The firm has a market capitalization of $6.21 billion, a P/E ratio of 7.31 and a beta of 1.49. The company has a quick ratio of 0.81, a current ratio of 0.85 and a debt-to-equity ratio of 0.57. The company has a 50 day moving average price of $49.31 and a 200 day moving average price of $47.54. Matador Resources Company has a 52 week low of $35.19 and a 52 week high of $64.04.

Matador Resources (NYSE:MTDR - Get Free Report) last posted its quarterly earnings results on Tuesday, July 22nd. The energy company reported $1.53 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.29 by $0.24. Matador Resources had a net margin of 22.57% and a return on equity of 16.53%. The company had revenue of $895.31 million during the quarter, compared to analyst estimates of $892.86 million. During the same period last year, the firm posted $2.05 EPS. Matador Resources's revenue for the quarter was up 8.2% compared to the same quarter last year. Sell-side analysts expect that Matador Resources Company 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, September 5th. Stockholders of record on Friday, August 15th will be paid a dividend of $0.3125 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a $1.25 dividend on an annualized basis and a dividend yield of 2.5%. Matador Resources's dividend payout ratio (DPR) is presently 18.30%.

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.

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