Matador Resources (NYSE:MTDR) Shares Sold by CoreCommodity Management LLC

CoreCommodity Management LLC lowered its stake in Matador Resources (NYSE:MTDR - Free Report) by 92.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,632 shares of the energy company's stock after selling 54,456 shares during the period. CoreCommodity Management LLC's holdings in Matador Resources were worth $261,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Barclays PLC lifted its position in Matador Resources by 16.1% during the 3rd quarter. Barclays PLC now owns 190,035 shares of the energy company's stock worth $9,391,000 after acquiring an additional 26,289 shares during the period. Tidal Investments LLC acquired a new stake in shares of Matador Resources during the third quarter worth about $423,000. Franklin Resources Inc. lifted its holdings in shares of Matador Resources by 12.0% during the third quarter. Franklin Resources Inc. now owns 1,008,421 shares of the energy company's stock worth $54,122,000 after purchasing an additional 107,827 shares during the period. GAMMA Investing LLC boosted its position in Matador Resources by 34.6% in the fourth quarter. GAMMA Investing LLC now owns 1,889 shares of the energy company's stock valued at $106,000 after buying an additional 486 shares during the last quarter. Finally, Harbor Capital Advisors Inc. increased its holdings in Matador Resources by 26.6% in the 4th quarter. Harbor Capital Advisors Inc. now owns 35,003 shares of the energy company's stock worth $1,969,000 after buying an additional 7,354 shares during the period. Hedge funds and other institutional investors own 91.98% of the company's stock.

Insiders Place Their Bets

In related news, COO Christopher P. Calvert bought 1,300 shares of the stock in a transaction dated Friday, February 21st. The shares were acquired at an average cost of $55.17 per share, for a total transaction of $71,721.00. Following the acquisition, the chief operating officer now directly owns 34,000 shares in the company, valued at approximately $1,875,780. This trade represents a 3.98 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Joseph Wm Foran purchased 6,000 shares of the company's stock in a transaction dated Friday, February 21st. The stock was bought at an average price of $53.94 per share, with a total value of $323,640.00. Following the completion of the transaction, the chief executive officer now directly owns 39,379 shares of the company's stock, valued at approximately $2,124,103.26. This represents a 17.98 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired a total of 36,200 shares of company stock valued at $1,701,872 in the last 90 days. 6.10% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Royal Bank of Canada cut their price objective on shares of Matador Resources from $70.00 to $62.00 and set an "outperform" rating on the stock in a research note on Friday, April 11th. Wells Fargo & Company cut their price target on Matador Resources from $86.00 to $80.00 and set an "overweight" rating on the stock in a research report on Monday, April 28th. Stephens decreased their price objective on Matador Resources from $90.00 to $86.00 and set an "overweight" rating for the company in a report on Tuesday, April 15th. JPMorgan Chase & Co. lowered their target price on Matador Resources from $65.00 to $61.00 and set an "overweight" rating on the stock in a research note on Thursday, April 10th. Finally, UBS Group started coverage on Matador Resources in a research report on Tuesday, April 22nd. They set a "neutral" rating and a $47.00 price target for the company. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Matador Resources presently has a consensus rating of "Moderate Buy" and an average target price of $70.33.

Matador Resources Price Performance

Shares of MTDR stock traded up $0.06 on Friday, reaching $42.73. 1,702,564 shares of the company were exchanged, compared to its average volume of 1,614,228. Matador Resources has a 1 year low of $35.19 and a 1 year high of $66.89. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.84 and a current ratio of 0.93. The business has a 50-day moving average price of $44.28 and a 200 day moving average price of $52.58. The company has a market cap of $5.35 billion, a price-to-earnings ratio of 5.98 and a beta of 1.47.

Matador Resources (NYSE:MTDR - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The energy company reported $1.99 EPS for the quarter, beating analysts' consensus estimates of $1.74 by $0.25. The business 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%. The business's revenue was up 28.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.71 earnings per share. Equities research analysts forecast that Matador Resources will post 8.53 earnings per share for the current fiscal year.

Matador Resources announced that its Board of Directors has initiated a stock buyback plan on Wednesday, April 23rd that authorizes the company to repurchase $400.00 million in shares. This repurchase authorization authorizes the energy company to repurchase up to 7.8% of its stock through open market purchases. Stock repurchase plans are often an indication that the company's leadership believes its shares are undervalued.

Matador Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 9th will be issued a $0.3125 dividend. The ex-dividend date of this dividend is Friday, May 9th. This represents a $1.25 dividend on an annualized basis and a yield of 2.93%. Matador Resources's payout ratio is currently 16.78%.

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.