Massachusetts Financial Services Co. MA Buys 258,958 Shares of Matador Resources (NYSE:MTDR)

Massachusetts Financial Services Co. MA raised its stake in Matador Resources (NYSE:MTDR) by 18.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,669,957 shares of the energy company’s stock after acquiring an additional 258,958 shares during the period. Massachusetts Financial Services Co. MA owned approximately 1.34% of Matador Resources worth $93,952,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. TCTC Holdings LLC grew its stake in shares of Matador Resources by 53.8% in the 4th quarter. TCTC Holdings LLC now owns 500 shares of the energy company’s stock worth $28,000 after buying an additional 175 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in shares of Matador Resources by 108.5% during the 4th quarter. EverSource Wealth Advisors LLC now owns 492 shares of the energy company’s stock valued at $28,000 after purchasing an additional 256 shares during the last quarter. MassMutual Private Wealth & Trust FSB boosted its stake in Matador Resources by 68.3% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 510 shares of the energy company’s stock worth $29,000 after buying an additional 207 shares during the period. SRS Capital Advisors Inc. raised its stake in shares of Matador Resources by 359.5% in the fourth quarter. SRS Capital Advisors Inc. now owns 579 shares of the energy company’s stock valued at $33,000 after acquiring an additional 453 shares during the period. Finally, Denver PWM LLC grew its holdings in Matador Resources by 67.2% during the 3rd quarter. Denver PWM LLC now owns 754 shares of the energy company’s stock valued at $37,000 after purchasing an additional 303 shares during the last quarter. Institutional investors own 91.98% of the company’s stock.

Insider Buying and Selling at Matador Resources

In other Matador Resources news, Director Paul W. Harvey acquired 600 shares of the business’s stock in a transaction that occurred on Friday, February 21st. The stock was purchased at an average cost of $55.20 per share, with a total value of $33,120.00. Following the transaction, the director now owns 27,917 shares of the company’s stock, valued at $1,541,018.40. This trade represents a 2.20 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CAO Robert T. Macalik purchased 1,200 shares of Matador Resources stock in a transaction dated Wednesday, March 5th. The stock was bought at an average cost of $47.98 per share, for a total transaction of $57,576.00. Following the completion of the purchase, the chief accounting officer now directly 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 have bought 21,350 shares of company stock worth $1,100,769 in the last ninety days. 6.10% of the stock is owned by insiders.

Matador Resources Price Performance

NYSE:MTDR opened at $38.21 on Friday. The firm has a market cap of $4.78 billion, a P/E ratio of 5.35 and a beta of 3.17. The stock has a 50 day moving average of $52.76 and a two-hundred day moving average of $54.76. Matador Resources has a 12 month low of $37.98 and a 12 month high of $71.08. 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 (NYSE:MTDR) last posted its quarterly 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 during the quarter, compared to analysts’ expectations of $967.10 million. On average, 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. Investors of record on Friday, February 28th were issued a $0.3125 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $1.25 dividend on an annualized basis and a dividend yield of 3.27%. This is a positive change from Matador Resources’s previous quarterly dividend of $0.25. Matador Resources’s dividend payout ratio is currently 17.51%.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Benchmark reaffirmed a “buy” rating and issued a $62.00 price objective on shares of Matador Resources in a research report on Friday, January 17th. Mizuho reduced their price objective on Matador Resources from $74.00 to $73.00 and set an “outperform” rating on the stock in a report on Monday, December 16th. Raymond James decreased their price objective on Matador Resources from $77.00 to $67.00 and set an “outperform” rating for the company in a report on Monday, March 10th. Wells Fargo & Company lowered their price target on shares of Matador Resources from $90.00 to $87.00 and set an “overweight” rating for the company in a research report on Tuesday, March 25th. Finally, Morgan Stanley cut their price target 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. One research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $73.79.

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.