Avantax Advisory Services Inc. Purchases Shares of 9,162 Matador Resources (NYSE:MTDR)

Avantax Advisory Services Inc. bought a new position in Matador Resources (NYSE:MTDR) during the fourth quarter, HoldingsChannel reports. The fund bought 9,162 shares of the energy company’s stock, valued at approximately $515,000.

A number of other hedge funds also recently made changes to their positions in the stock. Geode Capital Management LLC grew its holdings in Matador Resources by 1.9% during the 3rd quarter. Geode Capital Management LLC now owns 2,008,730 shares of the energy company’s stock valued at $99,297,000 after buying an additional 36,921 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Matador Resources by 3.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,491,570 shares of the energy company’s stock valued at $83,916,000 after acquiring an additional 56,644 shares in the last quarter. Wasatch Advisors LP lifted its position in shares of Matador Resources by 4.3% in the third quarter. Wasatch Advisors LP now owns 1,287,587 shares of the energy company’s stock worth $63,633,000 after buying an additional 52,498 shares in the last quarter. Copeland Capital Management LLC boosted its position in shares of Matador Resources by 145.2% during the 4th quarter. Copeland Capital Management LLC now owns 1,283,743 shares of the energy company’s stock valued at $72,223,000 after acquiring an additional 760,122 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of Matador Resources by 3.3% in the 4th quarter. Bank of New York Mellon Corp now owns 1,217,645 shares of the energy company’s stock worth $68,505,000 after buying an additional 39,373 shares during the last quarter. 91.98% of the stock is currently owned by institutional investors.

Matador Resources Price Performance

NYSE MTDR opened at $51.59 on Friday. The firm’s fifty day simple moving average is $55.39 and its two-hundred day simple moving average is $54.83. The company has a current ratio of 0.93, a quick ratio of 0.84 and a debt-to-equity ratio of 0.61. Matador Resources has a 12-month low of $43.89 and a 12-month high of $71.08. The firm has a market capitalization of $6.46 billion, a P/E ratio of 7.23 and a beta of 3.17.

Matador Resources (NYSE:MTDR) last released its earnings results on Tuesday, February 18th. The energy company reported $1.83 EPS for the quarter, missing analysts’ consensus estimates of $1.88 by ($0.05). The company had revenue of $970.37 million during the quarter, compared to analyst estimates 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 fiscal year.

Matador Resources Increases Dividend

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

Insider Buying and Selling

In other Matador Resources news, Director Timothy E. Parker acquired 2,000 shares of the business’s stock in a transaction dated Wednesday, March 5th. The shares were purchased at an average price of $44.67 per share, for a total transaction of $89,340.00. Following the completion of the purchase, the director now directly owns 83,790 shares of the company’s stock, valued at $3,742,899.30. The trade was a 2.45 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Robert T. Macalik bought 1,200 shares of the company’s stock in a transaction that occurred on Wednesday, March 5th. The shares were bought at an average cost of $47.98 per share, for a total transaction of $57,576.00. Following the completion of the acquisition, the chief accounting officer now owns 31,000 shares of the company’s stock, valued at $1,487,380. This trade represents a 4.03 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought 21,350 shares of company stock worth $1,100,769 in the last 90 days. Insiders own 6.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Raymond James dropped their price objective on shares of Matador Resources from $77.00 to $67.00 and set an “outperform” rating for the company in a research note on Monday, March 10th. Stephens increased their price target on Matador Resources from $78.00 to $80.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. Royal Bank of Canada restated an “outperform” rating and set a $70.00 price objective on shares of Matador Resources in a report on Wednesday, January 15th. Wells Fargo & Company increased their target price on Matador Resources from $87.00 to $91.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Finally, Truist Financial upped their target price on shares of Matador Resources from $75.00 to $80.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. One equities research analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $74.20.

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.