CoreCommodity Management LLC Trims Holdings in Matador Resources (NYSE:MTDR)

CoreCommodity Management LLC lessened its holdings in Matador Resources (NYSE:MTDR - Free Report) by 92.2% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor 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.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. grew its position in shares of Matador Resources by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 12,555,553 shares of the energy company's stock valued at $706,375,000 after acquiring an additional 187,633 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Matador Resources by 0.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 5,444,723 shares of the energy company's stock worth $306,313,000 after buying an additional 30,184 shares during the period. Alliancebernstein L.P. boosted its stake in Matador Resources by 25.9% during the fourth quarter. Alliancebernstein L.P. now owns 2,698,606 shares of the energy company's stock worth $151,824,000 after acquiring an additional 555,245 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of Matador Resources by 18.4% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,669,957 shares of the energy company's stock valued at $93,952,000 after buying an additional 258,958 shares in the last quarter. Finally, LSV Asset Management increased its holdings in Matador Resources by 262.0% during the fourth quarter. LSV Asset Management now owns 1,517,308 shares of the energy company's stock worth $85,364,000 after buying an additional 1,098,108 shares during the last quarter. 91.98% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

MTDR has been the subject of several research analyst reports. 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. JPMorgan Chase & Co. cut their price objective on shares of Matador Resources from $65.00 to $61.00 and set an "overweight" rating for the company in a report on Thursday, April 10th. Truist Financial lifted their target price on Matador Resources from $75.00 to $80.00 and gave the stock a "buy" rating in a research report on Monday, January 13th. Royal Bank of Canada reduced their target price on shares of Matador Resources from $70.00 to $62.00 and set an "outperform" rating for the company in a report on Friday, April 11th. Finally, KeyCorp lowered their price objective on Matador Resources from $72.00 to $60.00 and set an "overweight" rating on the stock in a research report on Monday, April 21st. Two investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to MarketBeat.com, Matador Resources has a consensus rating of "Moderate Buy" and a consensus price target of $70.33.

Insiders Place Their Bets

In related news, COO Christopher P. Calvert acquired 1,300 shares of the company's stock in a transaction on Friday, February 21st. The stock was purchased at an average cost of $55.17 per share, with a total value of $71,721.00. Following the acquisition, the chief operating officer now directly owns 34,000 shares of the company's stock, valued at approximately $1,875,780. The trade was a 3.98% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Glenn W. Stetson purchased 1,000 shares of the firm's stock in a transaction dated Friday, February 21st. The stock was acquired at an average price of $53.06 per share, for a total transaction of $53,060.00. Following the purchase, the executive vice president now owns 91,680 shares in the company, valued at approximately $4,864,540.80. The trade was a 1.10% increase in their position. The disclosure for this purchase can be found here. Insiders acquired 36,200 shares of company stock worth $1,701,872 over the last ninety days. 6.10% of the stock is currently owned by corporate insiders.

Matador Resources Stock Performance

Shares of MTDR stock traded up $1.92 during trading hours on Monday, reaching $44.67. 716,998 shares of the company's stock were exchanged, compared to its average volume of 1,614,173. The stock has a market capitalization of $5.59 billion, a P/E ratio of 6.25 and a beta of 1.47. 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 fifty-two week low of $35.19 and a fifty-two week high of $66.89. The business has a fifty day moving average price of $44.28 and a 200-day moving average price of $52.59.

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

Matador Resources Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 9th will be paid a $0.3125 dividend. This represents a $1.25 annualized dividend and a yield of 2.80%. The ex-dividend date of this dividend is Friday, May 9th. Matador Resources's payout ratio is 16.78%.

Matador Resources announced that its board has initiated a stock buyback plan on Wednesday, April 23rd that allows the company to buyback $400.00 million in shares. This buyback authorization allows the energy company to buy up to 7.8% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's board believes its shares are undervalued.

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.