Silvercrest Asset Management Group LLC Decreases Stock Position in Matador Resources (NYSE:MTDR)

Silvercrest Asset Management Group LLC lowered its position in shares of Matador Resources (NYSE:MTDR - Free Report) by 9.0% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 2,135,533 shares of the energy company's stock after selling 210,316 shares during the quarter. Matador Resources comprises about 0.8% of Silvercrest Asset Management Group LLC's portfolio, making the stock its 19th largest position. Silvercrest Asset Management Group LLC owned about 1.71% of Matador Resources worth $120,145,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of MTDR. Vanguard Group Inc. raised its position in Matador Resources by 1.5% during the fourth 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 in the last quarter. Dimensional Fund Advisors LP boosted its holdings in 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 in the last quarter. Alliancebernstein L.P. grew its position 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 valued at $151,824,000 after buying an additional 555,245 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in 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 raised its position in shares of Matador Resources by 262.0% in the fourth quarter. LSV Asset Management now owns 1,517,308 shares of the energy company's stock worth $85,364,000 after acquiring an additional 1,098,108 shares during the period. 91.98% of the stock is currently owned by hedge funds and other institutional investors.

Matador Resources Trading Down 1.4%

NYSE MTDR traded down $0.64 on Wednesday, reaching $43.65. 532,088 shares of the company were exchanged, compared to its average volume of 1,625,197. The business's fifty day moving average price is $44.10 and its 200 day moving average price is $52.27. The stock has a market capitalization of $5.46 billion, a P/E ratio of 6.12 and a beta of 1.47. The company has a current ratio of 0.93, a quick ratio of 0.84 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.

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

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

Matador Resources Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 9th will be issued a dividend of $0.3125 per share. The ex-dividend date is Friday, May 9th. This represents a $1.25 dividend on an annualized basis and a dividend yield of 2.86%. Matador Resources's dividend payout ratio is currently 16.78%.

Insider Activity

In other news, CEO Joseph Wm Foran acquired 6,000 shares of the company's stock in a transaction dated Friday, February 21st. The stock was acquired at an average cost of $53.94 per share, with a total value of $323,640.00. Following the completion of the purchase, the chief executive officer now owns 39,379 shares of the company's stock, valued at $2,124,103.26. This represents a 17.98% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, EVP William Thomas Elsener acquired 750 shares of the business's stock in a transaction that occurred on Thursday, May 1st. The stock was purchased at an average price of $40.10 per share, for a total transaction of $30,075.00. Following the acquisition, the executive vice president now directly owns 111,197 shares in the company, valued at approximately $4,458,999.70. This trade represents a 0.68% increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 36,200 shares of company stock valued at $1,701,872. 6.10% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms have recently commented on MTDR. JPMorgan Chase & Co. dropped their target price on Matador Resources from $65.00 to $61.00 and set an "overweight" rating on the stock in a research report on Thursday, April 10th. Mizuho dropped their price target on shares of Matador Resources from $74.00 to $73.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 13th. Stephens cut their price target on shares of Matador Resources from $90.00 to $86.00 and set an "overweight" rating for the company in a report on Tuesday, April 15th. Raymond James decreased their price objective on shares of Matador Resources from $77.00 to $67.00 and set an "outperform" rating on the stock in a report on Monday, March 10th. Finally, UBS Group assumed coverage on shares of Matador Resources in a research note on Tuesday, April 22nd. They set a "neutral" rating and a $47.00 target price for the company. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $69.44.

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.