Principal Financial Group Inc. Sells 107,493 Shares of Matador Resources (NYSE:MTDR)

Principal Financial Group Inc. cut its holdings in shares of Matador Resources (NYSE:MTDR) by 15.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 596,233 shares of the energy company’s stock after selling 107,493 shares during the period. Principal Financial Group Inc.’s holdings in Matador Resources were worth $33,544,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Raymond James & Associates lifted its holdings in shares of Matador Resources by 8.3% in the third quarter. Raymond James & Associates now owns 217,895 shares of the energy company’s stock valued at $10,768,000 after purchasing an additional 16,681 shares in the last quarter. Foundations Investment Advisors LLC bought a new stake in shares of Matador Resources in the third quarter valued at about $202,000. Signaturefd LLC lifted its holdings in shares of Matador Resources by 26.8% in the third quarter. Signaturefd LLC now owns 2,685 shares of the energy company’s stock valued at $133,000 after purchasing an additional 568 shares in the last quarter. Greenleaf Trust lifted its holdings in shares of Matador Resources by 3.8% in the third quarter. Greenleaf Trust now owns 7,086 shares of the energy company’s stock valued at $350,000 after purchasing an additional 260 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Matador Resources by 43.4% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 10,517 shares of the energy company’s stock valued at $520,000 after purchasing an additional 3,181 shares in the last quarter. 91.98% of the stock is currently owned by institutional investors.

Insider Activity

In other news, EVP William Thomas Elsener bought 800 shares of the firm’s stock in a transaction dated Friday, December 13th. The shares were bought at an average price of $56.60 per share, with a total value of $45,280.00. Following the completion of the transaction, the executive vice president now owns 102,964 shares of the company’s stock, valued at $5,827,762.40. This trade represents a 0.78 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Joseph Wm Foran bought 2,000 shares of the firm’s stock in a transaction dated Friday, December 6th. The stock was purchased at an average cost of $55.18 per share, for a total transaction of $110,360.00. Following the transaction, the chief executive officer now directly owns 42,251 shares of the company’s stock, valued at $2,331,410.18. The trade was a 4.97 % increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 2,980 shares of company stock valued at $165,988. 6.10% of the stock is owned by insiders.

Matador Resources Price Performance

Shares of NYSE MTDR opened at $53.10 on Friday. The business’s 50 day moving average price is $58.17 and its two-hundred day moving average price is $55.79. The company has a market cap of $6.62 billion, a PE ratio of 7.44 and a beta of 3.22. The company has a quick ratio of 0.84, a current ratio of 0.93 and a debt-to-equity ratio of 0.61. Matador Resources has a twelve month low of $47.15 and a twelve month high of $71.08.

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 business had revenue of $970.37 million for the quarter, compared to analyst estimates of $967.10 million. Matador Resources had a return on equity of 18.52% and a net margin of 25.26%. On average, analysts predict that Matador Resources will post 8.53 EPS for the current year.

Matador Resources Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be given a $0.3125 dividend. This is an increase from Matador Resources’s previous quarterly dividend of $0.25. The ex-dividend date is Friday, February 28th. This represents a $1.25 annualized dividend and a dividend yield of 2.35%. Matador Resources’s dividend payout ratio is presently 14.01%.

Analyst Ratings Changes

A number of analysts have recently commented on MTDR shares. Mizuho cut their price target on Matador Resources from $74.00 to $73.00 and set an “outperform” rating on the stock in a report on Monday, December 16th. JPMorgan Chase & Co. dropped their target price on Matador Resources from $77.00 to $71.00 and set an “overweight” rating on the stock in a report on Wednesday, October 30th. Stephens upped their target price on Matador Resources from $78.00 to $80.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. Wells Fargo & Company upped their target price on Matador Resources from $87.00 to $91.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Finally, Truist Financial upped their target price on Matador Resources from $75.00 to $80.00 and gave the stock a “buy” rating in a report 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 company. According to MarketBeat, Matador Resources currently has a consensus rating of “Moderate Buy” and an average target price of $75.14.

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.