Wasatch Advisors LP Reduces Stock Holdings in Matador Resources Company $MTDR

Key Points

• Wasatch Advisors LP slashed its Matador Resources stake by 99.3% in the first quarter, selling 661,225 shares and leaving it with just 4,336 shares worth about $274,000.
• Insiders have been buying shares: CFO Christopher P. Calvert and CEO Joseph Wm Foran both made recent stock purchases, and insiders bought 11,907 shares in the last quarter overall.
• Wall Street sentiment remains moderately positive, with 11 Buy ratings and 5 Hold ratings; analysts’ consensus target price is $65.08 versus the stock’s recent price of $49.88.

Wasatch Advisors LP lowered its stake in shares of Matador Resources Company (NYSE:MTDR - Free Report) by 99.3% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 4,336 shares of the energy company's stock after selling 661,225 shares during the quarter. Wasatch Advisors LP's holdings in Matador Resources were worth $274,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Harbor Capital Advisors Inc. raised its stake in shares of Matador Resources by 184.9% in the fourth quarter. Harbor Capital Advisors Inc. now owns 30,836 shares of the energy company's stock valued at $1,309,000 after acquiring an additional 20,011 shares during the period. Wedge Capital Management L L P NC boosted its stake in shares of Matador Resources by 25.5% during the 4th quarter. Wedge Capital Management L L P NC now owns 78,035 shares of the energy company's stock worth $3,312,000 after purchasing an additional 15,859 shares during the period. CIBC Bancorp USA Inc. purchased a new position in shares of Matador Resources during the 3rd quarter worth about $61,615,000. Neo Ivy Capital Management purchased a new position in shares of Matador Resources during the 3rd quarter worth about $871,000. Finally, Aquatic Capital Management LLC grew its holdings in Matador Resources by 264.8% during the 3rd quarter. Aquatic Capital Management LLC now owns 111,727 shares of the energy company's stock valued at $5,020,000 after purchasing an additional 81,102 shares during the last quarter. Hedge funds and other institutional investors own 91.98% of the company's stock.

Insider Transactions at Matador Resources

In other Matador Resources news, CFO Christopher P. Calvert acquired 1,500 shares of the company's stock in a transaction dated Friday, May 29th. The shares were purchased at an average cost of $53.24 per share, for a total transaction of $79,860.00. Following the completion of the purchase, the chief financial officer owned 41,500 shares in the company, valued at approximately $2,209,460. This trade represents a 3.75% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Joseph Wm Foran acquired 2,000 shares of the business's stock in a transaction that occurred on Tuesday, June 9th. The shares were acquired at an average cost of $53.07 per share, for a total transaction of $106,140.00. Following the completion of the acquisition, the chief executive officer owned 11,479 shares of the company's stock, valued at $609,190.53. This trade represents a 21.10% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders acquired 11,907 shares of company stock valued at $635,712. Company insiders own 5.90% of the company's stock.

Wall Street Analysts Forecast Growth

MTDR has been the topic of a number of recent analyst reports. Roth Mkm raised shares of Matador Resources from a "neutral" rating to a "buy" rating and set a $65.00 price objective on the stock in a research report on Monday, June 22nd. Citigroup cut their target price on Matador Resources from $77.00 to $72.00 and set a "buy" rating on the stock in a research note on Tuesday, May 26th. Weiss Ratings downgraded Matador Resources from a "hold (c+)" rating to a "hold (c)" rating in a report on Tuesday, May 12th. Morgan Stanley raised their price target on Matador Resources from $73.00 to $75.00 and gave the stock an "equal weight" rating in a research note on Friday, May 22nd. Finally, Mizuho boosted their price objective on Matador Resources from $74.00 to $77.00 and gave the company an "outperform" rating in a report on Wednesday, May 27th. Eleven analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat.com, Matador Resources has an average rating of "Moderate Buy" and a consensus target price of $65.08.

Matador Resources Price Performance

Shares of MTDR stock opened at $49.88 on Friday. Matador Resources Company has a twelve month low of $37.14 and a twelve month high of $66.84. The company has a current ratio of 0.73, a quick ratio of 0.70 and a debt-to-equity ratio of 0.59. The stock has a fifty day simple moving average of $55.98 and a two-hundred day simple moving average of $51.93. The stock has a market capitalization of $6.19 billion, a price-to-earnings ratio of 12.82 and a beta of 0.74.

Matador Resources (NYSE:MTDR - Get Free Report) last announced its quarterly earnings results on Wednesday, May 6th. The energy company reported $1.53 EPS for the quarter, beating the consensus estimate of $1.24 by $0.29. The firm had revenue of $941.60 million for the quarter, compared to analyst estimates of $871.57 million. Matador Resources had a return on equity of 11.20% and a net margin of 14.41%.The business's revenue for the quarter was down 33.8% on a year-over-year basis. During the same quarter last year, the firm posted $1.99 earnings per share. On average, analysts predict that Matador Resources Company will post 7.45 EPS for the current fiscal year.

Matador Resources Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Friday, May 8th were issued a $0.375 dividend. The ex-dividend date was Friday, May 8th. This represents a $1.50 annualized dividend and a dividend yield of 3.0%. Matador Resources's payout ratio is currently 38.56%.

About Matador Resources

Matador Resources Company is an independent energy firm primarily engaged in the exploration, development and production of oil, natural gas liquids (NGLs) and natural gas. The company focuses on upstream operations, utilizing horizontal drilling and hydraulic fracturing techniques to unlock hydrocarbons from key reservoirs. Its asset base includes both operated and non‐operated positions, with a particular emphasis on the Permian Basin, one of the most prolific oil-producing regions in North America.

Matador's core operations are concentrated in the Delaware Basin segment of the Permian Basin, where it holds substantial acreage in both Reeves and Culberson counties in West Texas and Eddy and Lea counties in New Mexico.

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