Price T Rowe Associates Inc. MD Has $54.04 Million Stock Position in Matador Resources (NYSE:MTDR)

Price T Rowe Associates Inc. MD cut its stake in Matador Resources (NYSE:MTDR - Free Report) by 13.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 960,443 shares of the energy company's stock after selling 150,557 shares during the period. Price T Rowe Associates Inc. MD owned approximately 0.77% of Matador Resources worth $54,036,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. LSV Asset Management grew its holdings in shares of Matador Resources by 262.0% during the 4th quarter. LSV Asset Management now owns 1,517,308 shares of the energy company's stock worth $85,364,000 after purchasing an additional 1,098,108 shares during the period. Copeland Capital Management LLC lifted its position 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 buying an additional 760,122 shares in the last quarter. Alliancebernstein L.P. grew 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 buying an additional 555,245 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Matador Resources in the fourth quarter worth $22,509,000. Finally, Vaughan Nelson Investment Management L.P. raised its stake in shares of Matador Resources by 57.3% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 959,795 shares of the energy company's stock valued at $53,998,000 after acquiring an additional 349,820 shares during the period. 91.98% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CAO Robert T. Macalik bought 1,200 shares of the stock in a transaction on Wednesday, March 5th. The shares were purchased at an average price of $47.98 per share, with a total value of $57,576.00. Following the purchase, the chief accounting officer now owns 31,000 shares in the company, valued at approximately $1,487,380. This represents a 4.03 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Joseph Wm Foran purchased 6,000 shares of Matador Resources stock in a transaction dated Friday, February 21st. The stock was bought 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 in the company, valued at approximately $2,124,103.26. This trade represents a 17.98 % increase in their position. The disclosure for this purchase can be found here. Insiders have purchased 28,400 shares of company stock valued at $1,388,464 over the last three months. Company insiders own 6.10% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Stephens lowered their price objective on shares of Matador Resources from $90.00 to $86.00 and set an "overweight" rating for the company in a research report on Tuesday, April 15th. KeyCorp lowered their price target on shares of Matador Resources from $72.00 to $60.00 and set an "overweight" rating for the company in a report on Monday, April 21st. Royal Bank of Canada cut their price objective on shares of Matador Resources from $70.00 to $62.00 and set an "outperform" rating on the stock in a report on Friday, April 11th. Raymond James lowered their target price 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. Finally, JPMorgan Chase & Co. reduced their price target on Matador Resources from $65.00 to $61.00 and set an "overweight" rating for the company in a report on Thursday, April 10th. Two 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, the stock presently has an average rating of "Moderate Buy" and an average price target of $70.33.

Matador Resources Stock Performance

Shares of NYSE:MTDR traded up $0.59 on Friday, reaching $41.08. 1,536,673 shares of the company's stock were exchanged, compared to its average volume of 1,590,932. The business's 50-day moving average is $45.20 and its two-hundred day moving average is $52.94. 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 firm has a market capitalization of $5.14 billion, a price-to-earnings ratio of 5.75 and a beta of 2.74.

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. 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 for the quarter, compared to analyst estimates of $980.87 million. During the same quarter in the prior year, the business earned $1.71 earnings per share. Matador Resources's quarterly revenue was up 28.7% on a year-over-year basis. As a group, equities research analysts forecast that Matador Resources will post 8.53 EPS for the current year.

Matador Resources declared that its Board of Directors has initiated a share repurchase plan on Wednesday, April 23rd that permits the company to buyback $400.00 million in shares. This buyback authorization permits the energy company to purchase up to 7.8% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's board believes its stock is undervalued.

Matador Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 9th will be paid a dividend of $0.3125 per share. The ex-dividend date of this dividend is Friday, May 9th. This represents a $1.25 dividend on an annualized basis and a yield of 3.04%. Matador Resources's payout ratio is currently 16.78%.

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.