Ensign Peak Advisors Inc Decreases Stock Holdings in Matador Resources (NYSE:MTDR)

Ensign Peak Advisors Inc trimmed its holdings in Matador Resources (NYSE:MTDR - Free Report) by 33.1% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 100,285 shares of the energy company's stock after selling 49,593 shares during the period. Ensign Peak Advisors Inc owned 0.08% of Matador Resources worth $5,642,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. LSV Asset Management boosted its holdings in Matador Resources by 262.0% in the 4th quarter. LSV Asset Management now owns 1,517,308 shares of the energy company's stock valued at $85,364,000 after purchasing an additional 1,098,108 shares during the period. Copeland Capital Management LLC increased its stake in Matador Resources by 145.2% during the fourth quarter. Copeland Capital Management LLC now owns 1,283,743 shares of the energy company's stock valued at $72,223,000 after acquiring an additional 760,122 shares during the period. Webs Creek Capital Management LP acquired a new position in Matador Resources in the 4th quarter valued at approximately $37,894,000. Alliancebernstein L.P. increased its position in shares of Matador Resources by 25.9% during the fourth quarter. Alliancebernstein L.P. now owns 2,698,606 shares of the energy company's stock valued at $151,824,000 after purchasing an additional 555,245 shares during the period. Finally, Raymond James Financial Inc. bought a new position in Matador Resources in the fourth quarter worth $22,509,000. Institutional investors and hedge funds own 91.98% of the company's stock.

Matador Resources Stock Down 1.2%

Matador Resources stock traded down $0.53 during mid-day trading on Monday, reaching $44.02. The company's stock had a trading volume of 203,581 shares, compared to its average volume of 1,624,051. 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's 50 day simple moving average is $44.24 and its 200 day simple moving average is $52.37. The company has a market capitalization of $5.51 billion, a price-to-earnings ratio of 6.16 and a beta of 1.47. Matador Resources has a 12 month low of $35.19 and a 12 month high of $66.89.

Matador Resources (NYSE:MTDR - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The energy company reported $1.99 earnings per share for the quarter, topping the consensus estimate of $1.74 by $0.25. The company had revenue of $1.01 billion for the quarter, compared to analyst estimates of $980.87 million. Matador Resources had a net margin of 25.26% and a return on equity of 18.52%. Matador Resources's revenue for the quarter was up 28.7% compared to the same quarter last year. During the same period in the previous year, the business earned $1.71 EPS. As a group, research analysts anticipate that Matador Resources will post 8.53 earnings per share for the current 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 dividend yield of 2.84%. The ex-dividend date of this dividend is Friday, May 9th. Matador Resources's payout ratio is 16.78%.

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

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on MTDR shares. Royal Bank of Canada decreased their target price on shares of Matador Resources from $70.00 to $62.00 and set an "outperform" rating on the stock in a research report on Friday, April 11th. Mizuho cut their target price on Matador Resources from $74.00 to $73.00 and set an "outperform" rating for the company in a research report on Tuesday, May 13th. Raymond James dropped their price objective on Matador Resources from $77.00 to $67.00 and set an "outperform" rating for the company in a research note on Monday, March 10th. Morgan Stanley dropped their target price on shares of Matador Resources from $84.00 to $68.00 and set an "equal weight" rating for the company in a research report on Thursday, March 27th. Finally, KeyCorp reduced their price target on shares of 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 fourteen have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $69.44.

Insider Transactions at Matador Resources

In related news, Director Paul W. Harvey bought 600 shares of the business's stock in a transaction dated Friday, February 21st. The stock was purchased at an average cost of $55.20 per share, for a total transaction of $33,120.00. Following the transaction, the director now owns 27,917 shares in the company, valued at $1,541,018.40. The trade was a 2.20% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP William Thomas Elsener purchased 750 shares of the firm's stock in a transaction that occurred on Thursday, May 1st. The shares were bought at an average cost of $40.10 per share, for a total transaction of $30,075.00. Following the completion of the acquisition, the executive vice president now directly owns 111,197 shares in the company, valued at $4,458,999.70. The trade was a 0.68% increase in their position. The disclosure for this purchase can be found here. Insiders bought a total of 36,200 shares of company stock worth $1,701,872 over the last quarter. Company insiders own 6.10% of the company's stock.

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.