Bridgewater Associates LP Sells 19,301 Shares of Matador Resources (NYSE:MTDR)

Bridgewater Associates LP decreased its position in Matador Resources (NYSE:MTDR) by 21.0% during the 4th quarter, Holdings Channel reports. The firm owned 72,668 shares of the energy company’s stock after selling 19,301 shares during the quarter. Bridgewater Associates LP’s holdings in Matador Resources were worth $4,088,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. LSV Asset Management boosted its position in Matador Resources by 262.0% in the fourth quarter. LSV Asset Management now owns 1,517,308 shares of the energy company’s stock valued at $85,364,000 after buying an additional 1,098,108 shares in the last quarter. Copeland Capital Management LLC boosted its holdings in shares of Matador Resources by 145.2% in the 4th quarter. Copeland Capital Management LLC now owns 1,283,743 shares of the energy company’s stock worth $72,223,000 after acquiring an additional 760,122 shares in the last quarter. Alliancebernstein L.P. grew its position in Matador Resources by 25.9% during the 4th quarter. Alliancebernstein L.P. now owns 2,698,606 shares of the energy company’s stock worth $151,824,000 after acquiring an additional 555,245 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Matador Resources during the 4th quarter valued at $22,509,000. Finally, Vaughan Nelson Investment Management L.P. increased its holdings in Matador Resources by 57.3% during the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 959,795 shares of the energy company’s stock valued at $53,998,000 after purchasing an additional 349,820 shares in the last quarter. Institutional investors and hedge funds own 91.98% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on MTDR shares. Stephens decreased their target price on Matador Resources from $90.00 to $86.00 and set an “overweight” rating on the stock in a report on Tuesday. Truist Financial increased their price objective on shares of Matador Resources from $75.00 to $80.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Raymond James lowered 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 report on Monday, March 10th. Benchmark reiterated a “buy” rating and set a $62.00 target price on shares of Matador Resources in a research report on Friday, January 17th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Matador Resources from $65.00 to $61.00 and set an “overweight” rating for the company in a report on Thursday, April 10th. One analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $73.29.

Matador Resources Stock Performance

Shares of Matador Resources stock opened at $41.44 on Friday. 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 company has a market cap of $5.19 billion, a PE ratio of 5.80 and a beta of 2.74. The company has a 50 day moving average of $48.56 and a 200-day moving average of $53.86. Matador Resources has a 1-year low of $35.19 and a 1-year high of $67.51.

Matador Resources (NYSE:MTDR) last released 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 return on equity of 18.52% and a net margin of 25.26%. The business had revenue of $970.37 million for the quarter, compared to the consensus estimate of $967.10 million. As a group, equities research analysts forecast that Matador Resources will post 8.53 earnings per share for the current fiscal year.

Matador Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 9th will be given a $0.3125 dividend. This represents a $1.25 dividend on an annualized basis and a yield of 3.02%. The ex-dividend date is Friday, May 9th. Matador Resources’s dividend payout ratio is presently 17.51%.

Insider Buying and Selling at Matador Resources

In related news, Director Paul W. Harvey bought 600 shares of the firm’s stock in a transaction on Friday, February 21st. The shares were purchased at an average price of $55.20 per share, with a total value of $33,120.00. Following the completion of the purchase, 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 acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, Director Timothy E. Parker purchased 2,000 shares of the company’s stock in a transaction dated Wednesday, March 5th. The stock was purchased at an average price of $44.67 per share, with a total value of $89,340.00. Following the completion of the purchase, the director now directly owns 83,790 shares in the company, valued at $3,742,899.30. The trade was a 2.45 % increase in their position. The disclosure for this purchase can be found here. Insiders have acquired a total of 21,350 shares of company stock worth $1,100,769 over the last 90 days. Insiders own 6.10% of the company’s stock.

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.