Victory Capital Management Inc. Sells 332,899 Shares of Matador Resources Company (NYSE:MTDR)

Victory Capital Management Inc. cut its holdings in shares of Matador Resources Company (NYSE:MTDR - Free Report) by 12.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,297,328 shares of the energy company's stock after selling 332,899 shares during the period. Victory Capital Management Inc. owned about 1.83% of Matador Resources worth $117,370,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. LSV Asset Management raised its position in shares of Matador Resources by 262.0% in the fourth quarter. LSV Asset Management now owns 1,517,308 shares of the energy company's stock worth $85,364,000 after acquiring an additional 1,098,108 shares during the period. Webs Creek Capital Management LP purchased a new stake in Matador Resources during the 4th quarter valued at about $37,894,000. Alliancebernstein L.P. grew its stake in 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. Raymond James Financial Inc. purchased a new stake in Matador Resources during the 4th quarter valued at about $22,509,000. Finally, Balyasny Asset Management L.P. grew its stake in Matador Resources by 101.7% during the 4th quarter. Balyasny Asset Management L.P. now owns 734,626 shares of the energy company's stock valued at $41,330,000 after acquiring an additional 370,388 shares in the last quarter. 91.98% of the stock is currently owned by institutional investors and hedge funds.

Matador Resources Trading Up 3.3%

Shares of MTDR traded up $1.66 during mid-day trading on Thursday, reaching $51.75. 1,818,061 shares of the company were exchanged, compared to its average volume of 1,566,212. The stock has a market capitalization of $6.48 billion, a PE ratio of 6.95 and a beta of 1.46. The business has a 50 day simple moving average of $47.68 and a two-hundred day simple moving average of $49.82. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.76 and a current ratio of 0.79. Matador Resources Company has a 52 week low of $35.19 and a 52 week high of $66.03.

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 analysts' expectations of $980.87 million. Matador Resources had a return on equity of 18.45% and a net margin of 24.97%. Matador Resources's quarterly revenue was up 28.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.71 earnings per share. On average, analysts predict that Matador Resources Company will post 8.53 earnings per share for the current fiscal year.

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

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 given a $0.3125 dividend. The ex-dividend date is Friday, August 15th. This represents a $1.25 annualized dividend and a yield of 2.42%. Matador Resources's dividend payout ratio is currently 16.78%.

Insiders Place Their Bets

In other Matador Resources news, insider Van H. Singleton II bought 1,000 shares of the firm's stock in a transaction on Thursday, May 1st. The shares were acquired at an average cost of $40.72 per share, for a total transaction of $40,720.00. Following the purchase, the insider directly owned 291,135 shares of the company's stock, valued at $11,855,017.20. The trade was a 0.34% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Glenn W. Stetson acquired 1,000 shares of the business's stock in a transaction dated Monday, April 28th. The stock was purchased at an average price of $41.53 per share, with a total value of $41,530.00. Following the completion of the acquisition, the executive vice president directly owned 93,180 shares in the company, valued at approximately $3,869,765.40. This represents a 1.08% increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 14,850 shares of company stock valued at $601,103. 5.80% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several analysts recently issued reports on MTDR shares. Royal Bank Of Canada dropped their price objective on shares of Matador Resources from $70.00 to $62.00 and set an "outperform" rating for the company in a research note on Friday, April 11th. UBS Group upped their price objective on shares of Matador Resources from $46.00 to $48.00 and gave the company a "neutral" rating in a research note on Thursday. TD Cowen raised shares of Matador Resources to a "strong-buy" rating in a research note on Monday, July 7th. KeyCorp dropped their price target on shares of Matador Resources from $72.00 to $60.00 and set an "overweight" rating for the company in a research note on Monday, April 21st. Finally, Bank of America assumed coverage on shares of Matador Resources in a report on Monday, May 19th. They issued a "buy" rating and a $56.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Matador Resources currently has an average rating of "Moderate Buy" and a consensus price target of $69.13.

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.