Wellington Management Group LLP Sells 108,775 Shares of Matador Resources (NYSE:MTDR)

Wellington Management Group LLP lessened its stake in Matador Resources (NYSE:MTDR - Free Report) by 6.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,566,479 shares of the energy company's stock after selling 108,775 shares during the period. Wellington Management Group LLP owned about 1.25% of Matador Resources worth $88,130,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Barclays PLC lifted its stake in shares of Matador Resources by 16.1% in the 3rd quarter. Barclays PLC now owns 190,035 shares of the energy company's stock valued at $9,391,000 after purchasing an additional 26,289 shares during the period. Janney Montgomery Scott LLC increased its position in shares of Matador Resources by 33.2% during the fourth quarter. Janney Montgomery Scott LLC now owns 10,528 shares of the energy company's stock valued at $592,000 after acquiring an additional 2,627 shares during the last quarter. KBC Group NV increased its position in shares of Matador Resources by 45.5% during the fourth quarter. KBC Group NV now owns 5,023 shares of the energy company's stock valued at $283,000 after acquiring an additional 1,570 shares during the last quarter. OLD National Bancorp IN purchased a new stake in shares of Matador Resources during the fourth quarter valued at approximately $241,000. Finally, EMC Capital Management boosted its holdings in shares of Matador Resources by 25.3% in the fourth quarter. EMC Capital Management now owns 7,042 shares of the energy company's stock worth $396,000 after acquiring an additional 1,424 shares during the period. Institutional investors own 91.98% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on MTDR shares. Wells Fargo & Company cut their price target on Matador Resources from $86.00 to $80.00 and set an "overweight" rating for the company in a report on Monday, April 28th. Raymond James cut their price target on Matador Resources from $77.00 to $67.00 and set an "outperform" rating for the company in a report on Monday, March 10th. Stephens cut their price target on Matador Resources from $90.00 to $86.00 and set an "overweight" rating for the company in a report on Tuesday, April 15th. Mizuho cut their price target on Matador Resources from $74.00 to $73.00 and set an "outperform" rating for the company in a report on Tuesday, May 13th. Finally, Morgan Stanley dropped their price objective on Matador Resources from $84.00 to $68.00 and set an "equal weight" rating for the company in a research note on Thursday, March 27th. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $69.44.

Insider Activity at Matador Resources

In related news, CAO Robert T. Macalik purchased 1,200 shares of the business's stock in a transaction that occurred on Wednesday, March 5th. The shares were bought at an average price 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 approximately $1,487,380. This represents a 4.03% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Christopher P. Calvert purchased 1,000 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The stock was bought at an average price of $49.27 per share, for a total transaction of $49,270.00. Following the purchase, the chief operating officer now directly owns 35,000 shares in the company, valued at $1,724,450. The trade was a 2.94% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased 21,850 shares of company stock worth $931,694 in the last ninety days. 6.10% of the stock is owned by company insiders.

Matador Resources Trading Down 2.3%

MTDR stock traded down $1.00 during trading on Friday, hitting $43.04. 1,545,885 shares of the company traded hands, compared to its average volume of 1,628,810. The firm has a market capitalization of $5.39 billion, a PE ratio of 6.03 and a beta of 1.47. Matador Resources has a 1 year low of $35.19 and a 1 year high of $66.89. The company has a 50-day moving average of $42.86 and a 200-day moving average of $51.62. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.84 and a current ratio of 0.93.

Matador Resources (NYSE:MTDR - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The energy company reported $1.99 earnings per share for the quarter, beating the consensus estimate of $1.74 by $0.25. The company had revenue of $1.01 billion during the quarter, compared to analysts' expectations of $980.87 million. Matador Resources had a return on equity of 18.52% and a net margin of 25.26%. Matador Resources's quarterly revenue was up 28.7% compared to the same quarter last year. During the same period in the prior year, the business posted $1.71 EPS. Analysts predict that Matador Resources will post 8.53 earnings per share for the current fiscal year.

Matador Resources Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 9th will be issued a dividend of $0.3125 per share. This represents a $1.25 annualized dividend and a yield of 2.90%. The ex-dividend date is Friday, May 9th. Matador Resources's dividend payout ratio is presently 16.78%.

Matador Resources announced that its board has approved a share buyback program on Wednesday, April 23rd that allows the company to repurchase $400.00 million in shares. This repurchase authorization allows the energy company to buy up to 7.8% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's management believes its shares are undervalued.

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.