Wealth Enhancement Advisory Services LLC Sells 9,563 Shares of Matador Resources Company (NYSE:MTDR)

Wealth Enhancement Advisory Services LLC trimmed its stake in shares of Matador Resources Company (NYSE:MTDR) by 41.6% during the first quarter, HoldingsChannel reports. The fund owned 13,449 shares of the energy company’s stock after selling 9,563 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Matador Resources were worth $687,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. TCTC Holdings LLC increased its holdings in Matador Resources by 53.8% during the 4th quarter. TCTC Holdings LLC now owns 500 shares of the energy company’s stock worth $28,000 after purchasing an additional 175 shares in the last quarter. Atria Investments Inc boosted its position in shares of Matador Resources by 3.1% during the fourth quarter. Atria Investments Inc now owns 8,188 shares of the energy company’s stock worth $461,000 after buying an additional 249 shares during the period. EverSource Wealth Advisors LLC boosted its position 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 worth $28,000 after buying an additional 256 shares during the period. Arizona State Retirement System grew its holdings in shares of Matador Resources by 0.8% during the fourth quarter. Arizona State Retirement System now owns 34,413 shares of the energy company’s stock worth $1,936,000 after buying an additional 280 shares in the last quarter. Finally, State of Wyoming raised its position in Matador Resources by 11.6% in the 4th quarter. State of Wyoming now owns 2,772 shares of the energy company’s stock valued at $156,000 after buying an additional 288 shares during the last quarter. 91.98% of the stock is owned by institutional investors.

Matador Resources Stock Performance

Shares of MTDR stock opened at $50.21 on Friday. The company has a fifty day moving average price of $45.59 and a two-hundred day moving average price of $50.02. Matador Resources Company has a one year low of $35.19 and a one year high of $66.89. The stock has a market cap of $6.29 billion, a P/E ratio of 6.74 and a beta of 1.46. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.79 and a quick ratio of 0.76.

Matador Resources (NYSE:MTDR) last issued its earnings results on Wednesday, April 23rd. The energy company reported $1.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.74 by $0.25. Matador Resources had a net margin of 24.97% and a return on equity of 18.45%. The company had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $980.87 million. During the same period in the prior year, the firm earned $1.71 EPS. Matador Resources’s quarterly revenue was up 28.7% compared to the same quarter last year. As a group, equities analysts predict that Matador Resources Company will post 8.53 EPS for the current year.

Matador Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 6th. Shareholders of record on Friday, May 9th were paid a $0.3125 dividend. The ex-dividend date was Friday, May 9th. This represents a $1.25 annualized dividend and a yield of 2.49%. Matador Resources’s dividend payout ratio is 16.78%.

Matador Resources declared that its Board of Directors has authorized a stock buyback plan on Wednesday, April 23rd that authorizes the company to repurchase $400.00 million in outstanding shares. This repurchase authorization authorizes the energy company to purchase up to 7.8% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. JPMorgan Chase & Co. cut their target price on Matador Resources from $65.00 to $61.00 and set an “overweight” rating on the stock in a research note on Thursday, April 10th. Morgan Stanley lowered their price objective on shares of Matador Resources from $84.00 to $68.00 and set an “equal weight” rating on the stock in a report on Thursday, March 27th. Wells Fargo & Company cut their price objective on shares of Matador Resources from $80.00 to $74.00 and set an “overweight” rating on the stock in a research report on Monday, June 16th. KeyCorp decreased their target price on shares of Matador Resources from $72.00 to $60.00 and set an “overweight” rating for the company in a research report on Monday, April 21st. Finally, Bank of America began coverage on shares of Matador Resources in a research note on Monday, May 19th. They issued a “buy” rating and a $56.00 price target on the stock. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $69.06.

Insider Transactions at Matador Resources

In other Matador Resources news, COO Christopher P. Calvert purchased 1,500 shares of the business’s stock in a transaction on Thursday, May 1st. The stock was acquired at an average price of $41.13 per share, with a total value of $61,695.00. Following the acquisition, the chief operating officer directly owned 36,500 shares of the company’s stock, valued at $1,501,245. This trade represents a 4.29% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Van H. Singleton II acquired 1,000 shares of Matador Resources stock in a transaction on Thursday, May 1st. The shares were bought at an average cost of $40.72 per share, with a total value of $40,720.00. Following the completion of the transaction, the insider owned 291,135 shares of the company’s stock, valued at approximately $11,855,017.20. This trade represents a 0.34% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 14,850 shares of company stock valued at $601,103. Company insiders own 5.80% 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.