Fisher Asset Management LLC Boosts Position in Matador Resources (NYSE:MTDR)

Fisher Asset Management LLC lifted its position in Matador Resources (NYSE:MTDR) by 23.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 785,610 shares of the energy company’s stock after buying an additional 146,922 shares during the quarter. Fisher Asset Management LLC owned approximately 0.63% of Matador Resources worth $44,198,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. MassMutual Private Wealth & Trust FSB boosted 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 valued at $29,000 after buying an additional 207 shares during the period. True Wealth Design LLC bought a new stake in shares of Matador Resources during the 3rd quarter valued at about $37,000. Denver PWM LLC grew its holdings in shares of Matador Resources by 67.2% during the third quarter. Denver PWM LLC now owns 754 shares of the energy company’s stock worth $37,000 after purchasing an additional 303 shares in the last quarter. Avior Wealth Management LLC grew its holdings in shares of Matador Resources by 329.0% during the third quarter. Avior Wealth Management LLC now owns 828 shares of the energy company’s stock worth $41,000 after purchasing an additional 635 shares in the last quarter. Finally, First Horizon Advisors Inc. increased its position in shares of Matador Resources by 90.2% in the fourth quarter. First Horizon Advisors Inc. now owns 858 shares of the energy company’s stock worth $48,000 after purchasing an additional 407 shares during the last quarter. 91.98% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Matador Resources

In other Matador Resources news, Director Susan M. Ward bought 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 25th. The stock was bought at an average price of $52.81 per share, for a total transaction of $105,620.00. Following the completion of the acquisition, the director now directly owns 5,844 shares in the company, valued at $308,621.64. The trade was a 52.03 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Joseph Wm Foran purchased 6,000 shares of the business’s stock in a transaction that occurred on Friday, February 21st. The stock was bought at an average price of $53.94 per share, for a total transaction of $323,640.00. Following the acquisition, 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 ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 17,330 shares of company stock worth $936,166. Company insiders own 6.10% of the company’s stock.

Analyst Ratings Changes

MTDR has been the subject of several research analyst reports. Royal Bank of Canada reiterated an “outperform” rating and set a $70.00 target price on shares of Matador Resources in a research report on Wednesday, January 15th. Mizuho dropped their price objective on shares of Matador Resources from $74.00 to $73.00 and set an “outperform” rating for the company in a report on Monday, December 16th. Benchmark reiterated a “buy” rating and issued a $62.00 target price on shares of Matador Resources in a research report on Friday, January 17th. TD Cowen raised their price target on Matador Resources from $74.00 to $75.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Finally, Truist Financial upped their price objective on Matador Resources from $75.00 to $80.00 and gave the stock a “buy” rating in a report on Monday, January 13th. One analyst has rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $75.14.

Matador Resources Price Performance

Shares of Matador Resources stock opened at $52.31 on Monday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.93 and a quick ratio of 0.84. Matador Resources has a one year low of $47.15 and a one year high of $71.08. The business’s 50 day simple moving average is $58.01 and its two-hundred day simple moving average is $55.71. The stock has a market capitalization of $6.53 billion, a P/E ratio of 7.33 and a beta of 3.22.

Matador Resources (NYSE:MTDR) last issued its earnings results on Tuesday, February 18th. The energy company reported $1.83 EPS for the quarter, missing the consensus estimate of $1.88 by ($0.05). The firm had revenue of $970.37 million during the quarter, compared to analysts’ expectations of $967.10 million. Matador Resources had a return on equity of 18.52% and a net margin of 25.26%. Analysts forecast that Matador Resources will post 8.53 EPS for the current year.

Matador Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be paid a dividend of $0.3125 per share. This represents a $1.25 annualized dividend and a dividend yield of 2.39%. This is an increase from Matador Resources’s previous quarterly dividend of $0.25. The ex-dividend date is Friday, February 28th. Matador Resources’s dividend payout ratio is 17.51%.

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.