First Horizon Advisors Inc. Raises Holdings in Matador Resources (NYSE:MTDR)

First Horizon Advisors Inc. raised its position in shares of Matador Resources (NYSE:MTDR) by 90.2% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 858 shares of the energy company’s stock after buying an additional 407 shares during the period. First Horizon Advisors Inc.’s holdings in Matador Resources were worth $48,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of MTDR. MassMutual Private Wealth & Trust FSB raised its stake in Matador Resources by 68.3% in 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 in the last quarter. True Wealth Design LLC acquired a new position in Matador Resources in the 3rd quarter valued at about $37,000. Denver PWM LLC increased its position in Matador Resources by 67.2% in the 3rd 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 period. Avior Wealth Management LLC boosted its holdings in Matador Resources by 329.0% in the 3rd quarter. Avior Wealth Management LLC now owns 828 shares of the energy company’s stock valued at $41,000 after purchasing an additional 635 shares in the last quarter. Finally, UMB Bank n.a. boosted its holdings in Matador Resources by 109.1% in the 4th quarter. UMB Bank n.a. now owns 945 shares of the energy company’s stock valued at $53,000 after purchasing an additional 493 shares in the last quarter. 91.98% of the stock is currently owned by hedge funds and other institutional investors.

Matador Resources Trading Up 0.7 %

MTDR stock opened at $52.48 on Friday. The company has a market cap of $6.55 billion, a price-to-earnings ratio of 7.35 and a beta of 3.22. 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 business has a fifty day simple moving average of $58.02 and a 200-day simple moving average of $55.74. Matador Resources has a 52 week low of $47.15 and a 52 week high of $71.08.

Matador Resources (NYSE:MTDR) last released its quarterly earnings data on Tuesday, February 18th. The energy company reported $1.83 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 firm had revenue of $970.37 million for the quarter, compared to analyst estimates of $967.10 million. On average, equities research analysts expect that Matador Resources will post 8.53 EPS for the current year.

Matador Resources Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be given a dividend of $0.3125 per share. This represents a $1.25 dividend on an annualized basis and a yield of 2.38%. This is a boost 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%.

Insider Buying and Selling

In other news, insider Van H. Singleton II acquired 2,000 shares of the firm’s stock in a transaction on Friday, February 21st. The stock was bought at an average cost of $53.21 per share, with a total value of $106,420.00. Following the transaction, the insider now directly owns 289,135 shares in the company, valued at approximately $15,384,873.35. This represents a 0.70 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Christopher P. Calvert purchased 1,300 shares of Matador Resources stock in a transaction dated Friday, February 21st. The shares were bought at an average cost of $55.17 per share, for a total transaction of $71,721.00. Following the transaction, the chief operating officer now directly owns 34,000 shares of the company’s stock, valued at approximately $1,875,780. The trade was a 3.98 % increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders acquired 17,330 shares of company stock valued at $936,166. Company insiders own 6.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Stephens lifted their price objective on Matador Resources from $78.00 to $80.00 and gave the company an “overweight” rating in a report on Friday, December 6th. Mizuho lowered their price objective on Matador Resources from $74.00 to $73.00 and set an “outperform” rating on the stock in a report on Monday, December 16th. Benchmark reaffirmed a “buy” rating and issued a $62.00 price objective on shares of Matador Resources in a report on Friday, January 17th. Royal Bank of Canada reissued an “outperform” rating and set a $70.00 price target on shares of Matador Resources in a research note on Wednesday, January 15th. Finally, Wells Fargo & Company boosted their price target on Matador Resources from $87.00 to $91.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. One analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, Matador Resources has a consensus rating of “Moderate Buy” and a consensus target price of $75.14.

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.