Corebridge Financial Inc. Decreases Stock Holdings in Matador Resources (NYSE:MTDR)

Corebridge Financial Inc. lessened its stake in Matador Resources (NYSE:MTDR) by 4.3% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 131,414 shares of the energy company’s stock after selling 5,970 shares during the quarter. Corebridge Financial Inc. owned approximately 0.11% of Matador Resources worth $7,393,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MTDR. TCTC Holdings LLC grew its position in shares of Matador Resources by 53.8% in the fourth quarter. TCTC Holdings LLC now owns 500 shares of the energy company’s stock valued at $28,000 after purchasing an additional 175 shares during the period. MassMutual Private Wealth & Trust FSB lifted its stake in Matador Resources by 68.3% in the 4th 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 in the last quarter. ClearAlpha Technologies LP boosted its holdings in Matador Resources by 4.3% in the 3rd quarter. ClearAlpha Technologies LP now owns 5,250 shares of the energy company’s stock worth $259,000 after buying an additional 218 shares during the last quarter. Atria Investments Inc increased its stake in Matador Resources by 3.1% during the 4th quarter. Atria Investments Inc now owns 8,188 shares of the energy company’s stock worth $461,000 after buying an additional 249 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its holdings 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 valued at $28,000 after acquiring an additional 256 shares during the last quarter. Hedge funds and other institutional investors own 91.98% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on the company. Wells Fargo & Company dropped their price target on Matador Resources from $90.00 to $87.00 and set an “overweight” rating for the company in a research report on Tuesday. TD Cowen upped their target price on shares of Matador Resources from $74.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Royal Bank of Canada reissued an “outperform” rating and issued a $70.00 price target on shares of Matador Resources in a research note on Wednesday, January 15th. Truist Financial upped 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. Finally, Stephens boosted their target price on Matador Resources from $78.00 to $80.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. One analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, Matador Resources presently has an average rating of “Moderate Buy” and a consensus price target of $73.79.

Matador Resources Price Performance

MTDR stock opened at $50.46 on Friday. Matador Resources has a 52-week low of $43.89 and a 52-week high of $71.08. The company has a quick ratio of 0.84, a current ratio of 0.93 and a debt-to-equity ratio of 0.61. The stock has a market cap of $6.32 billion, a price-to-earnings ratio of 7.07 and a beta of 3.17. The business has a fifty day moving average of $54.28 and a two-hundred day moving average of $54.84.

Matador Resources (NYSE:MTDR) last issued its quarterly earnings data on Tuesday, February 18th. The energy company reported $1.83 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.88 by ($0.05). Matador Resources had a return on equity of 18.52% and a net margin of 25.26%. The business had revenue of $970.37 million for the quarter, compared to analyst estimates of $967.10 million. As a group, research analysts anticipate that Matador Resources will post 8.53 earnings per share for the current year.

Matador Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were issued a $0.3125 dividend. This is a positive change from Matador Resources’s previous quarterly dividend of $0.25. This represents a $1.25 annualized dividend and a dividend yield of 2.48%. The ex-dividend date was Friday, February 28th. Matador Resources’s dividend payout ratio is currently 17.51%.

Insider Buying and Selling

In other Matador Resources news, CEO Joseph Wm Foran purchased 6,000 shares of Matador Resources stock in a transaction dated Friday, February 21st. The shares were acquired at an average price of $53.94 per share, with a total value of $323,640.00. Following the completion of the transaction, the chief executive officer now owns 39,379 shares of the company’s stock, valued at $2,124,103.26. This trade represents a 17.98 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Van H. Singleton II acquired 2,000 shares of the company’s stock in a transaction that occurred on Friday, February 21st. The stock was acquired at an average price of $53.21 per share, with a total value of $106,420.00. Following the acquisition, 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 position. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 21,350 shares of company stock valued at $1,100,769. Company insiders own 6.10% of the company’s stock.

Matador Resources 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.