Matador Resources (NYSE:MTDR) Shares Acquired by Wells Fargo & Company MN

Wells Fargo & Company MN boosted its stake in shares of Matador Resources (NYSE:MTDR - Free Report) by 17.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 45,790 shares of the energy company's stock after purchasing an additional 6,933 shares during the quarter. Wells Fargo & Company MN's holdings in Matador Resources were worth $2,576,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the stock. EverSource Wealth Advisors LLC increased its position in Matador Resources by 108.5% in the 4th quarter. EverSource Wealth Advisors LLC now owns 492 shares of the energy company's stock valued at $28,000 after acquiring an additional 256 shares in the last quarter. TCTC Holdings LLC lifted its position in 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 in the last quarter. MassMutual Private Wealth & Trust FSB grew its stake in shares of Matador Resources by 68.3% during the 4th 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 in the last quarter. SRS Capital Advisors Inc. increased its position 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 valued at $33,000 after acquiring an additional 453 shares during the last quarter. Finally, Denver PWM LLC lifted its stake in Matador Resources by 67.2% in the third quarter. Denver PWM LLC now owns 754 shares of the energy company's stock valued at $37,000 after acquiring an additional 303 shares during the last quarter. Institutional investors own 91.98% of the company's stock.

Insiders Place Their Bets

In other Matador Resources news, Director Paul W. Harvey purchased 600 shares of the stock in a transaction on Friday, February 21st. The stock was acquired at an average price of $55.20 per share, with a total value of $33,120.00. Following the completion of the acquisition, 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 ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Glenn W. Stetson acquired 1,000 shares of Matador Resources stock in a transaction dated Friday, February 21st. The stock was purchased at an average price of $53.06 per share, with a total value of $53,060.00. Following the completion of the purchase, the executive vice president now owns 91,680 shares of the company's stock, valued at approximately $4,864,540.80. The trade was a 1.10 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought a total of 27,350 shares of company stock valued at $1,346,599 over the last 90 days. Insiders own 6.10% of the company's stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Morgan Stanley reduced their price target on Matador Resources from $84.00 to $68.00 and set an "equal weight" rating for the company in a research note on Thursday, March 27th. JPMorgan Chase & Co. decreased their target price on shares of Matador Resources from $65.00 to $61.00 and set an "overweight" rating on the stock in a research note on Thursday, April 10th. Royal Bank of Canada dropped their price objective 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. KeyCorp reduced 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, Truist Financial boosted their target price on shares of Matador Resources from $75.00 to $80.00 and gave the company a "buy" rating in a report on Monday, January 13th. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $70.33.

Matador Resources Stock Down 3.6 %

Shares of MTDR stock traded down $1.49 during mid-day trading on Wednesday, hitting $39.53. The company's stock had a trading volume of 2,819,362 shares, compared to its average volume of 1,587,281. Matador Resources has a 52-week low of $35.19 and a 52-week high of $66.89. 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 has a 50-day moving average price of $45.68 and a 200 day moving average price of $53.09. The stock has a market cap of $4.95 billion, a price-to-earnings ratio of 5.54 and a beta of 2.74.

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

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

Matador Resources Dividend Announcement

The company also recently announced 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 of this dividend is Friday, May 9th. This represents a $1.25 annualized dividend and a dividend yield of 3.16%. Matador Resources's dividend payout ratio (DPR) is presently 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.