Nikko Asset Management Americas Inc. Sells 2,540 Shares of Matador Resources (NYSE:MTDR)

Nikko Asset Management Americas Inc. cut its stake in Matador Resources (NYSE:MTDR) by 12.9% during the fourth quarter, HoldingsChannel reports. The firm owned 17,190 shares of the energy company’s stock after selling 2,540 shares during the period. Nikko Asset Management Americas Inc.’s holdings in Matador Resources were worth $967,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Franklin Resources Inc. grew its stake in Matador Resources by 12.0% in the 3rd quarter. Franklin Resources Inc. now owns 1,008,421 shares of the energy company’s stock worth $54,122,000 after acquiring an additional 107,827 shares in the last quarter. Loomis Sayles & Co. L P grew its stake in Matador Resources by 16.8% in the third quarter. Loomis Sayles & Co. L P now owns 455,662 shares of the energy company’s stock worth $22,519,000 after purchasing an additional 65,487 shares in the last quarter. Stifel Financial Corp increased its holdings in Matador Resources by 81.2% during the 3rd quarter. Stifel Financial Corp now owns 30,304 shares of the energy company’s stock worth $1,498,000 after purchasing an additional 13,583 shares during the period. Allspring Global Investments Holdings LLC raised its position in Matador Resources by 16.9% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 139,254 shares of the energy company’s stock valued at $8,088,000 after purchasing an additional 20,172 shares in the last quarter. Finally, HITE Hedge Asset Management LLC purchased a new stake in shares of Matador Resources in the 3rd quarter worth $10,526,000. Hedge funds and other institutional investors own 91.98% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. TD Cowen raised their price target on Matador Resources from $74.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Truist Financial raised their target price on shares of Matador Resources from $75.00 to $80.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Stephens upped their price target on shares of Matador Resources from $78.00 to $80.00 and gave the stock an “overweight” rating in a research report on Friday, December 6th. Wolfe Research raised shares of Matador Resources from a “peer perform” rating to an “outperform” rating and set a $72.00 price objective on the stock in a report on Friday, January 3rd. Finally, Mizuho lowered their target price on Matador Resources from $74.00 to $73.00 and set an “outperform” rating for the company in a report on Monday, December 16th. One analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $74.20.

Insider Buying and Selling

In other Matador Resources news, Director Timothy E. Parker purchased 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 5th. The shares were bought at an average price of $44.67 per share, for a total transaction of $89,340.00. Following the acquisition, the director now owns 83,790 shares in the company, valued at $3,742,899.30. This represents a 2.45 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Robert T. Macalik acquired 1,200 shares of the firm’s stock in a transaction on Wednesday, March 5th. The shares were acquired at an average price of $47.98 per share, with a total value of $57,576.00. Following the completion of the purchase, the chief accounting officer now owns 31,000 shares in the company, valued at approximately $1,487,380. This trade represents a 4.03 % increase in their position. The disclosure for this purchase can be found here. Insiders bought 20,850 shares of company stock worth $1,077,024 in the last 90 days. Insiders own 6.10% of the company’s stock.

Matador Resources Trading Up 3.5 %

Matador Resources stock opened at $50.34 on Tuesday. 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 has a market cap of $6.30 billion, a PE ratio of 7.05 and a beta of 3.17. The stock has a 50-day moving average of $56.07 and a two-hundred day moving average of $54.94. Matador Resources has a one year low of $43.89 and a one year high of $71.08.

Matador Resources (NYSE:MTDR) last released its earnings results 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 return on equity of 18.52% and a net margin of 25.26%. The company had revenue of $970.37 million during the quarter, compared to analyst estimates of $967.10 million. On average, research analysts anticipate that Matador Resources will post 8.53 EPS for the current fiscal year.

Matador Resources Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were given a $0.3125 dividend. This represents a $1.25 annualized dividend and a dividend yield of 2.48%. This is an increase from Matador Resources’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Friday, February 28th. Matador Resources’s dividend payout ratio is presently 17.51%.

Matador Resources 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.