First Horizon Advisors Inc. Boosts Position in Matador Resources (NYSE:MTDR)

First Horizon Advisors Inc. grew its holdings in shares of Matador Resources (NYSE:MTDR) by 90.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 858 shares of the energy company’s stock after buying an additional 407 shares during the period. First Horizon Advisors Inc.’s holdings in Matador Resources were worth $48,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Copeland Capital Management LLC grew its stake in Matador Resources by 145.2% in the fourth quarter. Copeland Capital Management LLC now owns 1,283,743 shares of the energy company’s stock worth $72,223,000 after purchasing an additional 760,122 shares during the period. Yaupon Capital Management LP grew its stake in Matador Resources by 565.4% in the third quarter. Yaupon Capital Management LP now owns 744,037 shares of the energy company’s stock worth $36,770,000 after purchasing an additional 632,218 shares during the period. Vaughan Nelson Investment Management L.P. grew its stake in Matador Resources by 57.3% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 959,795 shares of the energy company’s stock worth $53,998,000 after purchasing an additional 349,820 shares during the period. FMR LLC grew its stake in Matador Resources by 162.9% in the third quarter. FMR LLC now owns 478,795 shares of the energy company’s stock worth $23,662,000 after purchasing an additional 296,663 shares during the period. Finally, HITE Hedge Asset Management LLC purchased a new stake in Matador Resources in the third quarter worth $10,526,000. 91.98% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Matador Resources

In other news, insider Van H. Singleton II bought 2,000 shares of the firm’s stock in a transaction on Friday, February 21st. The stock was acquired at an average cost of $53.21 per share, with a total value of $106,420.00. Following the transaction, the insider now directly owns 289,135 shares in the company, valued at approximately $15,384,873.35. This trade represents a 0.70 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Joseph Wm Foran purchased 6,000 shares of Matador Resources stock in a transaction dated Friday, February 21st. The stock was bought at an average cost of $53.94 per share, with a total value of $323,640.00. Following the completion of the transaction, the chief executive officer now owns 39,379 shares in the company, valued at approximately $2,124,103.26. This represents a 17.98 % increase in their position. The disclosure for this purchase can be found here. Insiders acquired a total of 17,330 shares of company stock worth $936,166 in the last quarter. 6.10% of the stock is owned by company insiders.

Matador Resources Stock Up 0.7 %

Shares of MTDR opened at $52.48 on Friday. The business’s 50 day moving average is $58.02 and its 200 day moving average is $55.74. The company has a market capitalization of $6.55 billion, a PE ratio of 7.35 and a beta of 3.22. Matador Resources has a 12-month low of $47.15 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 announced 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). The company had revenue of $970.37 million during the quarter, compared to analysts’ expectations of $967.10 million. Matador Resources had a return on equity of 18.52% and a net margin of 25.26%. Research analysts expect that Matador Resources will post 8.53 earnings per share for the current fiscal year.

Matador Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be issued a dividend of $0.3125 per share. The ex-dividend date is Friday, February 28th. This represents a $1.25 dividend on an annualized basis and a yield of 2.38%. This is a boost from Matador Resources’s previous quarterly dividend of $0.25. Matador Resources’s payout ratio is presently 17.51%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $70.00 price target on shares of Matador Resources in a research note on Wednesday, January 15th. Stephens upped their price target on Matador Resources from $78.00 to $80.00 and gave the stock an “overweight” rating in a research note on Friday, December 6th. Truist Financial upped their price target on Matador Resources from $75.00 to $80.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Wells Fargo & Company boosted 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, Mizuho dropped their target price on Matador Resources from $74.00 to $73.00 and set an “outperform” rating on the stock in a report on Monday, December 16th. One analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, Matador Resources currently has an average rating of “Moderate Buy” and a consensus 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.