Wellington Management Group LLP Lowers Stake in Matador Resources (NYSE:MTDR)

Wellington Management Group LLP cut its holdings in Matador Resources (NYSE:MTDR) by 6.5% during the fourth quarter, HoldingsChannel reports. The firm owned 1,566,479 shares of the energy company’s stock after selling 108,775 shares during the period. Wellington Management Group LLP’s holdings in Matador Resources were worth $88,130,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in MTDR. EverSource Wealth Advisors LLC grew its position in 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 buying an additional 256 shares during the last quarter. TCTC Holdings LLC boosted its holdings in shares of Matador Resources by 53.8% in the fourth quarter. TCTC Holdings LLC now owns 500 shares of the energy company’s stock valued at $28,000 after acquiring an additional 175 shares in the last quarter. MassMutual Private Wealth & Trust FSB boosted its holdings in shares of 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 acquiring an additional 207 shares in the last quarter. SRS Capital Advisors Inc. increased its stake in shares of Matador Resources by 359.5% during 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. Finally, Denver PWM LLC raised its holdings in Matador Resources by 67.2% during the third quarter. Denver PWM LLC now owns 754 shares of the energy company’s stock worth $37,000 after purchasing an additional 303 shares in the last quarter. Institutional investors and hedge funds own 91.98% of the company’s stock.

Insider Activity at Matador Resources

In other Matador Resources news, CAO Robert T. Macalik bought 1,200 shares of Matador Resources stock in a transaction that occurred on Wednesday, March 5th. The shares were purchased at an average cost of $47.98 per share, for a total transaction of $57,576.00. Following the completion of the transaction, the chief accounting officer now owns 31,000 shares of the company’s stock, valued at $1,487,380. This represents a 4.03 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Christopher P. Calvert purchased 1,300 shares of the stock in a transaction on Friday, February 21st. The stock was acquired at an average price of $55.17 per share, with a total value of $71,721.00. Following the acquisition, the chief operating officer now directly owns 34,000 shares in the company, valued at $1,875,780. This trade represents a 3.98 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 21,350 shares of company stock valued at $1,100,769. Company insiders own 6.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Benchmark reaffirmed a “buy” rating and issued a $62.00 price objective on shares of Matador Resources in a report on Friday, January 17th. Morgan Stanley dropped their price objective on Matador Resources from $84.00 to $68.00 and set an “equal weight” rating on the stock in a report on Thursday, March 27th. JPMorgan Chase & Co. reduced their target price on Matador Resources from $76.00 to $65.00 and set an “overweight” rating for the company in a report on Thursday, March 13th. TD Cowen upped their price target on shares of Matador Resources from $74.00 to $75.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Finally, Truist Financial raised their price objective on shares of Matador Resources from $75.00 to $80.00 and gave the company a “buy” rating in a research note on Monday, January 13th. One investment analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $73.79.

Matador Resources Price Performance

MTDR stock opened at $38.21 on Friday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.84 and a current ratio of 0.93. The stock’s 50 day moving average price is $52.76 and its 200 day moving average price is $54.76. The firm has a market cap of $4.78 billion, a P/E ratio of 5.35 and a beta of 3.17. Matador Resources has a 1 year low of $37.98 and a 1 year high of $71.08.

Matador Resources (NYSE:MTDR) last posted its quarterly earnings data on Tuesday, February 18th. The energy company reported $1.83 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 for the quarter, compared to analyst estimates of $967.10 million. On average, sell-side analysts expect that Matador Resources will post 8.53 earnings per share for the current fiscal year.

Matador Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were given a $0.3125 dividend. This represents a $1.25 dividend on an annualized basis and a dividend yield of 3.27%. The ex-dividend date was Friday, February 28th. This is a positive change from Matador Resources’s previous quarterly dividend of $0.25. Matador Resources’s payout ratio is currently 17.51%.

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.