Algert Global LLC Sells 25,529 Shares of Matador Resources (NYSE:MTDR)

Algert Global LLC reduced its position in Matador Resources (NYSE:MTDR) by 17.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 123,787 shares of the energy company’s stock after selling 25,529 shares during the period. Algert Global LLC’s holdings in Matador Resources were worth $6,964,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. TCTC Holdings LLC boosted its position in Matador Resources by 53.8% in the fourth quarter. TCTC Holdings LLC now owns 500 shares of the energy company’s stock worth $28,000 after purchasing an additional 175 shares during the last quarter. MassMutual Private Wealth & Trust FSB lifted its stake in shares of Matador Resources by 68.3% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 510 shares of the energy company’s stock worth $29,000 after purchasing an additional 207 shares during the period. Atria Investments Inc grew its position in Matador Resources by 3.1% during the fourth quarter. Atria Investments Inc now owns 8,188 shares of the energy company’s stock valued at $461,000 after buying an additional 249 shares during the period. EverSource Wealth Advisors LLC grew its position in Matador Resources by 108.5% during the fourth quarter. EverSource Wealth Advisors LLC now owns 492 shares of the energy company’s stock valued at $28,000 after buying an additional 256 shares during the period. Finally, Arizona State Retirement System increased its holdings in Matador Resources by 0.8% during the fourth quarter. Arizona State Retirement System now owns 34,413 shares of the energy company’s stock valued at $1,936,000 after buying an additional 280 shares during the last quarter. Institutional investors own 91.98% of the company’s stock.

Insider Buying and Selling

In other Matador Resources news, COO Christopher P. Calvert purchased 1,300 shares of the stock in a transaction on Friday, February 21st. The shares were bought at an average price of $55.17 per share, for a total transaction of $71,721.00. Following the completion of the transaction, the chief operating officer now owns 34,000 shares of the company’s stock, valued at $1,875,780. This trade represents a 3.98 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP William Thomas Elsener acquired 750 shares of the business’s stock in a transaction dated Thursday, May 1st. The stock was acquired at an average price of $40.10 per share, with a total value of $30,075.00. Following the completion of the transaction, the executive vice president now directly owns 111,197 shares of the company’s stock, valued at approximately $4,458,999.70. This represents a 0.68 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 28,400 shares of company stock valued at $1,388,464. Corporate insiders own 6.10% of the company’s stock.

Matador Resources Trading Up 1.5 %

NYSE MTDR opened at $41.08 on Monday. Matador Resources has a 1 year low of $35.19 and a 1 year high of $66.89. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.93 and a quick ratio of 0.84. The company has a market capitalization of $5.14 billion, a PE ratio of 5.75 and a beta of 2.74. The company has a fifty day moving average of $45.20 and a 200 day moving average of $52.94.

Matador Resources (NYSE:MTDR) last issued its earnings results on Wednesday, April 23rd. The energy company reported $1.99 EPS for the quarter, topping analysts’ consensus estimates of $1.74 by $0.25. Matador Resources had a return on equity of 18.52% and a net margin of 25.26%. The firm had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $980.87 million. During the same quarter in the prior year, the business earned $1.71 earnings per share. The company’s revenue was up 28.7% compared to the same quarter last year. Research analysts forecast that Matador Resources will post 8.53 earnings per share for the current year.

Matador Resources announced that its board has approved a share repurchase program on Wednesday, April 23rd that authorizes the company to buyback $400.00 million in shares. This buyback authorization authorizes the energy company to reacquire up to 7.8% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

Matador Resources Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 9th will be paid a $0.3125 dividend. This represents a $1.25 annualized dividend and a dividend yield of 3.04%. The ex-dividend date of this dividend is Friday, May 9th. Matador Resources’s dividend payout ratio is currently 16.78%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on MTDR shares. Morgan Stanley dropped their price target on shares of Matador Resources from $84.00 to $68.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 27th. Royal Bank of Canada cut their price target on Matador Resources from $70.00 to $62.00 and set an “outperform” rating for the company in a report on Friday, April 11th. Wells Fargo & Company decreased their price objective on Matador Resources from $86.00 to $80.00 and set an “overweight” rating on the stock in a research note on Monday, April 28th. Raymond James reduced their target price on shares of Matador Resources from $77.00 to $67.00 and set an “outperform” rating for the company in a report on Monday, March 10th. Finally, Truist Financial raised 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. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, Matador Resources currently has a consensus rating of “Moderate Buy” and an average target price of $70.33.

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.