Guggenheim Capital LLC Reduces Stake in Matador Resources (NYSE:MTDR)

Guggenheim Capital LLC cut its position in shares of Matador Resources (NYSE:MTDR - Free Report) by 79.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,617 shares of the energy company's stock after selling 17,599 shares during the quarter. Guggenheim Capital LLC's holdings in Matador Resources were worth $260,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Mariner LLC raised its position in shares of Matador Resources by 6.7% during the fourth quarter. Mariner LLC now owns 25,078 shares of the energy company's stock worth $1,411,000 after purchasing an additional 1,573 shares during the period. Synovus Financial Corp boosted its holdings in shares of Matador Resources by 1.5% in the 4th quarter. Synovus Financial Corp now owns 23,103 shares of the energy company's stock worth $1,300,000 after buying an additional 350 shares during the last quarter. Townsquare Capital LLC bought a new position in Matador Resources during the fourth quarter valued at $251,000. Sterling Capital Management LLC grew its stake in Matador Resources by 11.5% in the 4th quarter. Sterling Capital Management LLC now owns 50,334 shares of the energy company's stock valued at $2,832,000 after buying an additional 5,190 shares in the last quarter. Finally, Covestor Ltd increased its position in shares of Matador Resources by 99.7% during the fourth quarter. Covestor Ltd now owns 2,117 shares of the energy company's stock valued at $119,000 after buying an additional 1,057 shares during the period. Institutional investors own 91.98% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on MTDR. Raymond James dropped their target price on shares of Matador Resources from $77.00 to $67.00 and set an "outperform" rating for the company in a research report on Monday, March 10th. Wells Fargo & Company reduced their target price on shares of Matador Resources from $86.00 to $80.00 and set an "overweight" rating on the stock in a research report on Monday. Royal Bank of Canada reduced 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. Stephens decreased their price target on Matador Resources from $90.00 to $86.00 and set an "overweight" rating for the company in a research note on Tuesday, April 15th. Finally, Truist Financial lifted their price objective on Matador Resources from $75.00 to $80.00 and gave the stock a "buy" rating in a report on Monday, January 13th. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, Matador Resources presently has a consensus rating of "Moderate Buy" and a consensus price target of $70.33.

Matador Resources Price Performance

NYSE MTDR traded up $0.51 during trading hours on Friday, reaching $41.00. The company's stock had a trading volume of 1,003,722 shares, compared to its average volume of 1,587,104. The company has a market capitalization of $5.13 billion, a price-to-earnings ratio of 5.74 and a beta of 2.74. The company has a quick ratio of 0.84, a current ratio of 0.93 and a debt-to-equity ratio of 0.61. Matador Resources has a 1 year low of $35.19 and a 1 year high of $66.89. The firm's 50-day moving average price is $45.42 and its 200-day moving average price is $53.00.

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 (EPS) for the quarter, topping the consensus estimate of $1.74 by $0.25. The firm 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 18.52% and a net margin of 25.26%. The business's revenue was up 28.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.71 earnings per share. On average, equities research analysts predict that Matador Resources will post 8.53 EPS for the current fiscal year.

Matador Resources Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 9th will be given a $0.3125 dividend. The ex-dividend date of this dividend is Friday, May 9th. This represents a $1.25 annualized dividend and a yield of 3.05%. Matador Resources's dividend payout ratio is currently 16.78%.

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

Insiders Place Their Bets

In other Matador Resources news, CAO Robert T. Macalik bought 1,200 shares of the business's stock in a transaction on Wednesday, March 5th. The shares were acquired at an average price of $47.98 per share, with a total value of $57,576.00. Following the transaction, the chief accounting officer now owns 31,000 shares of the company's stock, valued at approximately $1,487,380. This trade represents a 4.03 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Paul W. Harvey bought 600 shares of the stock in a transaction on Friday, February 21st. The shares were bought at an average price of $55.20 per share, with a total value of $33,120.00. Following the acquisition, the director now owns 27,917 shares of the company's stock, valued at $1,541,018.40. This trade represents a 2.20 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased 28,400 shares of company stock valued at $1,388,464 over the last ninety days. 6.10% of the stock is owned by insiders.

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.