Wellington Management Group LLP Decreases Stock Position in Matador Resources (NYSE:MTDR)

Wellington Management Group LLP lessened its holdings in shares of Matador Resources (NYSE:MTDR) by 6.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,566,479 shares of the energy company’s stock after selling 108,775 shares during the period. Wellington Management Group LLP owned 1.26% of Matador Resources worth $88,130,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. TCTC Holdings LLC increased its stake in Matador Resources by 53.8% during the fourth quarter. TCTC Holdings LLC now owns 500 shares of the energy company’s stock worth $28,000 after acquiring an additional 175 shares during the last quarter. MassMutual Private Wealth & Trust FSB grew its holdings in shares of Matador Resources by 68.3% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 510 shares of the energy company’s stock worth $29,000 after purchasing an additional 207 shares during the period. Atria Investments Inc increased its position in shares of Matador Resources by 3.1% during the 4th quarter. Atria Investments Inc now owns 8,188 shares of the energy company’s stock worth $461,000 after purchasing an additional 249 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings 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 period. Finally, Arizona State Retirement System raised its holdings in Matador Resources by 0.8% in the 4th quarter. Arizona State Retirement System now owns 34,413 shares of the energy company’s stock valued at $1,936,000 after buying an additional 280 shares during the period. Institutional investors and hedge funds own 91.98% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on MTDR shares. Wolfe Research upgraded shares of Matador Resources from a “peer perform” rating to an “outperform” rating and set a $72.00 price target for the company in a research report on Friday, January 3rd. Morgan Stanley dropped their target price on shares of Matador Resources from $84.00 to $68.00 and set an “equal weight” rating for the company in a report on Thursday, March 27th. Royal Bank of Canada restated an “outperform” rating and set a $70.00 price target on shares of Matador Resources in a research note on Wednesday, January 15th. TD Cowen lifted their price objective on Matador Resources from $74.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Finally, Truist Financial increased their target price on Matador Resources from $75.00 to $80.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. One equities research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $73.79.

Insider Buying and Selling at Matador Resources

In related news, EVP Glenn W. Stetson bought 1,000 shares of the company’s stock in a transaction that occurred on Friday, February 21st. The shares were purchased at an average cost of $53.06 per share, with a total value of $53,060.00. Following the transaction, the executive vice president now directly owns 91,680 shares of the company’s stock, valued at approximately $4,864,540.80. This represents a 1.10 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Timothy E. Parker purchased 2,000 shares of Matador Resources stock in a transaction that occurred on Wednesday, March 5th. The stock was bought at an average cost of $44.67 per share, with a total value of $89,340.00. Following the completion of the transaction, the director now owns 83,790 shares of the company’s stock, valued at $3,742,899.30. The trade was a 2.45 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased 21,350 shares of company stock worth $1,100,769 over the last three months. Insiders own 6.10% of the company’s stock.

Matador Resources Price Performance

Shares of MTDR opened at $38.21 on Friday. 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 firm’s fifty day simple moving average is $52.76 and its 200-day simple moving average is $54.76. Matador Resources has a twelve month low of $37.98 and a twelve 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 analysts’ consensus estimates of $1.88 by ($0.05). The business 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%. Equities analysts forecast that Matador Resources will post 8.53 EPS for the current fiscal year.

Matador Resources Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were issued a $0.3125 dividend. This represents a $1.25 dividend on an annualized basis and a yield of 3.27%. This is an increase from Matador Resources’s previous quarterly dividend of $0.25. The ex-dividend date was Friday, February 28th. Matador Resources’s dividend payout ratio is 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.