Madison Investment Advisors LLC Makes New Investment in Matador Resources (NYSE:MTDR)

Madison Investment Advisors LLC acquired a new position in shares of Matador Resources (NYSE:MTDR) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 221,000 shares of the energy company’s stock, valued at approximately $12,433,000. Madison Investment Advisors LLC owned about 0.18% of Matador Resources as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. MassMutual Private Wealth & Trust FSB increased its holdings in shares of 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 acquiring an additional 207 shares during the last quarter. ClearAlpha Technologies LP increased its holdings in shares of Matador Resources by 4.3% in the 3rd quarter. ClearAlpha Technologies LP now owns 5,250 shares of the energy company’s stock valued at $259,000 after acquiring an additional 218 shares during the last quarter. Atria Investments Inc increased its holdings in shares of Matador Resources by 3.1% in the 4th quarter. Atria Investments Inc now owns 8,188 shares of the energy company’s stock valued at $461,000 after acquiring an additional 249 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of 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 during the last quarter. Finally, Arizona State Retirement System increased its holdings in shares of Matador Resources by 0.8% in the 4th quarter. Arizona State Retirement System now owns 34,413 shares of the energy company’s stock valued at $1,936,000 after acquiring an additional 280 shares during the last quarter. 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 company’s stock in a transaction dated Wednesday, March 5th. The stock was acquired at an average cost of $47.98 per share, with a total value of $57,576.00. Following the acquisition, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Paul W. Harvey bought 600 shares of the company’s stock in a transaction dated Friday, February 21st. The stock was bought at an average cost 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. This represents a 2.20 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders bought 21,350 shares of company stock worth $1,100,769. 6.10% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages have recently weighed in on MTDR. JPMorgan Chase & Co. lowered their price target on Matador Resources from $76.00 to $65.00 and set an “overweight” rating for the company in a report on Thursday, March 13th. Mizuho lowered their price objective on Matador Resources from $74.00 to $73.00 and set an “outperform” rating for the company in a research note on Monday, December 16th. Raymond James lowered their price objective 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. Benchmark restated a “buy” rating and set a $62.00 price objective on shares of Matador Resources in a research note on Friday, January 17th. 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 research note on Monday, January 13th. One research analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, Matador Resources has a consensus rating of “Moderate Buy” and an average price target of $74.20.

Matador Resources Price Performance

Shares of NYSE:MTDR opened at $51.59 on Friday. The business has a 50 day moving average price of $55.39 and a 200 day moving average price of $54.82. Matador Resources has a twelve month low of $43.89 and a twelve month high of $71.08. The company has a market cap of $6.46 billion, a price-to-earnings ratio of 7.23 and a beta of 3.17. 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 (NYSE:MTDR) last announced its earnings results on Tuesday, February 18th. The energy company reported $1.83 earnings per share for the quarter, missing the consensus estimate of $1.88 by ($0.05). Matador Resources had a net margin of 25.26% and a return on equity of 18.52%. The business had revenue of $970.37 million for the quarter, compared to the consensus estimate of $967.10 million. Research analysts predict that Matador Resources will post 8.53 earnings per share for the current year.

Matador Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were given a $0.3125 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $1.25 dividend on an annualized basis and a dividend yield of 2.42%. This is an increase from Matador Resources’s previous quarterly dividend of $0.25. Matador Resources’s dividend payout ratio (DPR) is currently 17.51%.

About Matador Resources

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.