Farther Finance Advisors LLC Lowers Holdings in Matador Resources (NYSE:MTDR)

Farther Finance Advisors LLC lowered its stake in shares of Matador Resources (NYSE:MTDR) by 29.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 458 shares of the energy company’s stock after selling 192 shares during the period. Farther Finance Advisors LLC’s holdings in Matador Resources were worth $26,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. EverSource Wealth Advisors LLC lifted its stake 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 purchasing an additional 256 shares during the period. MassMutual Private Wealth & Trust FSB increased its holdings 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. SRS Capital Advisors Inc. raised its position in shares of Matador Resources by 359.5% in the fourth quarter. SRS Capital Advisors Inc. now owns 579 shares of the energy company’s stock worth $33,000 after acquiring an additional 453 shares during the period. True Wealth Design LLC purchased a new stake in shares of Matador Resources during the 3rd quarter worth about $37,000. Finally, Denver PWM LLC grew its position in shares of Matador Resources by 67.2% during 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. Institutional investors and hedge funds own 91.98% of the company’s stock.

Wall Street Analyst Weigh In

MTDR has been the subject of a number of analyst reports. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $70.00 price target on shares of Matador Resources in a report on Wednesday, January 15th. Truist Financial upped their target price on Matador Resources from $75.00 to $80.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Wells Fargo & Company lifted their price target on shares of Matador Resources from $87.00 to $91.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Morgan Stanley initiated coverage on shares of Matador Resources in a report on Friday, January 10th. They issued an “equal weight” rating and a $78.00 price target for the company. Finally, Mizuho decreased their price objective on shares of Matador Resources from $74.00 to $73.00 and set an “outperform” rating on the stock in a report on Monday, December 16th. One research analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $74.20.

Matador Resources Stock Up 2.8 %

MTDR stock opened at $52.95 on Tuesday. The company has a current ratio of 0.93, a quick ratio of 0.84 and a debt-to-equity ratio of 0.61. The firm has a 50-day moving average of $55.21 and a two-hundred day moving average of $54.86. Matador Resources has a 12 month low of $43.89 and a 12 month high of $71.08. The company has a market cap of $6.63 billion, a price-to-earnings ratio of 7.42 and a beta of 3.17.

Matador Resources (NYSE:MTDR) last posted its quarterly earnings results 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 net margin of 25.26% and a return on equity of 18.52%. The company had revenue of $970.37 million during the quarter, compared to analysts’ expectations of $967.10 million. As a group, analysts forecast that Matador Resources will post 8.53 earnings per share for the current fiscal year.

Matador Resources Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were paid a $0.3125 dividend. The ex-dividend date was Friday, February 28th. This is an increase from Matador Resources’s previous quarterly dividend of $0.25. This represents a $1.25 dividend on an annualized basis and a dividend yield of 2.36%. Matador Resources’s dividend payout ratio (DPR) is 17.51%.

Insider Transactions at Matador Resources

In other news, Director Timothy E. Parker purchased 2,000 shares of the business’s stock in a transaction dated Wednesday, March 5th. The stock was acquired at an average price of $44.67 per share, for a total transaction of $89,340.00. Following the acquisition, the director now directly owns 83,790 shares of the company’s stock, valued at approximately $3,742,899.30. This represents a 2.45 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Joseph Wm Foran acquired 6,000 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The stock was acquired at an average price of $53.94 per share, for a total transaction of $323,640.00. Following the completion of the acquisition, the chief executive officer now directly owns 39,379 shares of the company’s stock, valued at $2,124,103.26. The trade was a 17.98 % increase in their position. The disclosure for this purchase can be found here. Insiders have purchased a total of 21,350 shares of company stock worth $1,100,769 in the last quarter. Company insiders own 6.10% of the company’s stock.

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.