California Public Employees Retirement System Sells 10,389 Shares of Matador Resources (NYSE:MTDR)

California Public Employees Retirement System decreased its position in Matador Resources (NYSE:MTDR) by 4.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 199,530 shares of the energy company’s stock after selling 10,389 shares during the quarter. California Public Employees Retirement System owned 0.16% of Matador Resources worth $11,226,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Intrust Bank NA grew its stake in Matador Resources by 11.0% during the fourth quarter. Intrust Bank NA now owns 12,599 shares of the energy company’s stock worth $709,000 after buying an additional 1,244 shares during the last quarter. Heartland Advisors Inc. bought a new stake in Matador Resources during the 4th quarter worth approximately $6,039,000. Premier Fund Managers Ltd increased its holdings in Matador Resources by 33.6% during the 4th quarter. Premier Fund Managers Ltd now owns 17,360 shares of the energy company’s stock valued at $961,000 after purchasing an additional 4,368 shares in the last quarter. Pictet Asset Management Holding SA increased its holdings in Matador Resources by 7.3% during the 4th quarter. Pictet Asset Management Holding SA now owns 16,871 shares of the energy company’s stock valued at $949,000 after purchasing an additional 1,149 shares in the last quarter. Finally, New Age Alpha Advisors LLC bought a new position in Matador Resources in the 4th quarter valued at $1,451,000. Institutional investors and hedge funds own 91.98% of the company’s stock.

Matador Resources Trading Down 14.3 %

NYSE:MTDR opened at $38.21 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. Matador Resources has a 1-year low of $37.98 and a 1-year high of $71.08. The firm has a market capitalization of $4.78 billion, a price-to-earnings ratio of 5.35 and a beta of 3.17. The business’s 50-day moving average price is $52.76 and its two-hundred day moving average price is $54.78.

Matador Resources (NYSE:MTDR) last announced its quarterly earnings results on Tuesday, February 18th. The energy company reported $1.83 earnings per share for the quarter, missing analysts’ consensus estimates of $1.88 by ($0.05). The firm had revenue of $970.37 million during the quarter, compared to analyst estimates of $967.10 million. Matador Resources had a net margin of 25.26% and a return on equity of 18.52%. On average, equities analysts expect that Matador Resources will post 8.53 earnings per share for the current year.

Matador Resources Increases Dividend

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

Insider Activity

In other Matador Resources news, EVP Glenn W. Stetson bought 1,000 shares of the firm’s stock in a transaction on Friday, February 21st. The stock was purchased at an average cost of $53.06 per share, with a total value of $53,060.00. Following the completion of the purchase, the executive vice president now owns 91,680 shares in the company, valued at approximately $4,864,540.80. The trade was a 1.10 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, COO Christopher P. Calvert purchased 1,300 shares of the company’s stock in a transaction dated Friday, February 21st. The shares were acquired at an average cost of $55.17 per share, for a total transaction of $71,721.00. Following 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 ownership of the stock. The disclosure for this purchase can be found here. Insiders bought 21,350 shares of company stock valued at $1,100,769 in the last quarter. Company insiders own 6.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on MTDR. Wolfe Research upgraded Matador Resources from a “peer perform” rating to an “outperform” rating and set a $72.00 target price for the company in a research note on Friday, January 3rd. TD Cowen boosted their target price 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. Wells Fargo & Company decreased their price target on shares of Matador Resources from $90.00 to $87.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 25th. JPMorgan Chase & Co. dropped their price objective on shares of Matador Resources from $76.00 to $65.00 and set an “overweight” rating for the company in a research report on Thursday, March 13th. Finally, Raymond James reduced their price objective on Matador Resources from $77.00 to $67.00 and set an “outperform” rating on the stock in a report on Monday, March 10th. One research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $73.79.

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.