Matador Resources (NYSE:MTDR) Shares Purchased by Northern Trust Corp

Northern Trust Corp raised its position in Matador Resources (NYSE:MTDR - Free Report) by 22.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,166,077 shares of the energy company's stock after acquiring an additional 217,339 shares during the quarter. Northern Trust Corp owned approximately 0.93% of Matador Resources worth $65,603,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Altshuler Shaham Ltd purchased a new stake in shares of Matador Resources during the 4th quarter worth $25,000. TCTC Holdings LLC increased its holdings in shares of Matador Resources by 53.8% in the 4th quarter. TCTC Holdings LLC now owns 500 shares of the energy company's stock valued at $28,000 after acquiring an additional 175 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in shares of Matador Resources by 108.5% during the 4th quarter. EverSource Wealth Advisors LLC now owns 492 shares of the energy company's stock worth $28,000 after acquiring an additional 256 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its stake in Matador Resources by 68.3% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 510 shares of the energy company's stock worth $29,000 after purchasing an additional 207 shares during the last quarter. Finally, SRS Capital Advisors Inc. boosted its holdings in Matador Resources by 359.5% in the fourth quarter. SRS Capital Advisors Inc. now owns 579 shares of the energy company's stock valued at $33,000 after purchasing an additional 453 shares in the last quarter. Institutional investors and hedge funds own 91.98% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on MTDR shares. Royal Bank of Canada lowered 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. Raymond James cut their target price on Matador Resources from $77.00 to $67.00 and set an "outperform" rating on the stock in a research report on Monday, March 10th. JPMorgan Chase & Co. decreased their target price on Matador Resources from $65.00 to $61.00 and set an "overweight" rating for the company in a research report on Thursday, April 10th. KeyCorp cut their price target 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. Finally, Wells Fargo & Company decreased their price objective on Matador Resources from $86.00 to $80.00 and set an "overweight" rating for the company in a report on Monday, April 28th. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $70.33.

Insiders Place Their Bets

In related news, insider Van H. Singleton II bought 2,000 shares of the company's stock in a transaction on Friday, February 21st. The shares were purchased at an average cost of $53.21 per share, with a total value of $106,420.00. Following the completion of the transaction, the insider now directly owns 289,135 shares of the company's stock, valued at approximately $15,384,873.35. This represents a 0.70 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Paul W. Harvey bought 600 shares of the firm's stock in a transaction on Friday, February 21st. The stock was purchased at an average price of $55.20 per share, with a total value 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 disclosure for this purchase can be found here. Insiders acquired a total of 36,200 shares of company stock valued at $1,701,872 over the last 90 days. 6.10% of the stock is owned by company insiders.

Matador Resources Stock Up 0.1 %

NYSE MTDR traded up $0.06 during mid-day trading on Friday, reaching $42.73. 1,702,564 shares of the company's stock traded hands, compared to its average volume of 1,614,228. The company has a fifty day simple moving average of $44.28 and a 200-day simple moving average of $52.58. Matador Resources has a 1-year low of $35.19 and a 1-year high of $66.89. The company has a market cap of $5.35 billion, a price-to-earnings ratio of 5.98 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 (NYSE:MTDR - Get Free Report) last announced 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 during 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%. The firm's revenue for the quarter was up 28.7% compared to the same quarter last year. During the same period last year, the business earned $1.71 EPS. As a group, equities research analysts expect that Matador Resources will post 8.53 EPS for the current year.

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 $0.3125 dividend. The ex-dividend date is Friday, May 9th. This represents a $1.25 dividend on an annualized basis and a dividend yield of 2.93%. Matador Resources's dividend payout ratio (DPR) is 16.78%.

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

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.