PDT Partners LLC Reduces Stake in Matador Resources (NYSE:MTDR)

PDT Partners LLC cut its holdings in shares of Matador Resources (NYSE:MTDR - Free Report) by 28.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 35,768 shares of the energy company's stock after selling 14,510 shares during the quarter. PDT Partners LLC's holdings in Matador Resources were worth $2,012,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the business. Altshuler Shaham Ltd bought a new stake in shares of Matador Resources in the fourth quarter valued at approximately $25,000. TCTC Holdings LLC raised its holdings in Matador Resources by 53.8% during 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 period. EverSource Wealth Advisors LLC lifted its position in shares of Matador Resources by 108.5% during the fourth 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 boosted its holdings in shares of Matador Resources by 68.3% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 510 shares of the energy company's stock worth $29,000 after acquiring an additional 207 shares during the period. Finally, SRS Capital Advisors Inc. boosted its holdings in shares of Matador Resources by 359.5% in the fourth quarter. SRS Capital Advisors Inc. now owns 579 shares of the energy company's stock worth $33,000 after acquiring an additional 453 shares during the period. 91.98% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on MTDR shares. UBS Group began coverage on Matador Resources in a report on Tuesday, April 22nd. They set a "neutral" rating and a $47.00 price objective on the stock. Wolfe Research raised shares of Matador Resources from a "peer perform" rating to an "outperform" rating and set a $72.00 price target on the stock in a report on Friday, January 3rd. Truist Financial boosted their price objective on shares of Matador Resources from $75.00 to $80.00 and gave the company a "buy" rating in a research note on Monday, January 13th. Morgan Stanley lowered their target price on shares of Matador Resources from $84.00 to $68.00 and set an "equal weight" rating on the stock in a research note on Thursday, March 27th. Finally, Raymond James reduced their price target 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. Two analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $70.33.

Matador Resources Price Performance

NYSE:MTDR traded up $0.59 during mid-day trading on Friday, reaching $41.08. The stock had a trading volume of 1,536,673 shares, compared to its average volume of 1,590,178. The stock has a market capitalization of $5.14 billion, a P/E ratio of 5.75 and a beta of 2.74. The firm has a 50 day moving average price of $45.20 and a two-hundred day moving average price of $52.93. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.84 and a current ratio of 0.93. Matador Resources has a one year low of $35.19 and a one year high of $66.89.

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 analysts' consensus estimates of $1.74 by $0.25. Matador Resources had a net margin of 25.26% and a return on equity of 18.52%. The firm had revenue of $1.01 billion during the quarter, compared to analyst estimates of $980.87 million. During the same period in the previous year, the business posted $1.71 EPS. The business's quarterly revenue was up 28.7% on a year-over-year basis. As a group, analysts expect that Matador Resources will post 8.53 earnings per share for the current year.

Matador Resources Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 9th will be given a dividend of $0.3125 per share. The ex-dividend date is Friday, May 9th. This represents a $1.25 annualized dividend and a yield of 3.04%. 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 permits the company to repurchase $400.00 million in outstanding shares. This repurchase authorization permits the energy company to buy up to 7.8% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's management believes its shares are undervalued.

Insider Activity

In related news, CAO Robert T. Macalik bought 1,200 shares of the company's stock in a transaction that occurred on Wednesday, March 5th. The stock was bought at an average cost of $47.98 per share, for a total transaction of $57,576.00. Following the acquisition, the chief accounting officer now directly owns 31,000 shares of the company's stock, valued at $1,487,380. The trade was a 4.03 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP William Thomas Elsener acquired 750 shares of the stock in a transaction on Thursday, May 1st. The stock was bought at an average price of $40.10 per share, with a total value of $30,075.00. Following the transaction, the executive vice president now directly owns 111,197 shares of the company's stock, valued at approximately $4,458,999.70. The trade was a 0.68 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 28,400 shares of company stock valued at $1,388,464. 6.10% of the stock is currently owned by insiders.

Matador Resources Company 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.