Royce & Associates LP Sells 72,718 Shares of Matador Resources (NYSE:MTDR)

Royce & Associates LP lessened its position in shares of Matador Resources (NYSE:MTDR) by 20.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 284,845 shares of the energy company’s stock after selling 72,718 shares during the period. Royce & Associates LP owned approximately 0.23% of Matador Resources worth $16,025,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the company. EverSource Wealth Advisors LLC lifted its holdings in Matador Resources by 108.5% during the 4th quarter. EverSource Wealth Advisors LLC now owns 492 shares of the energy company’s stock worth $28,000 after purchasing an additional 256 shares during the last quarter. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of 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 in the last quarter. SRS Capital Advisors Inc. boosted its position 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. True Wealth Design LLC acquired a new position in shares of Matador Resources in the third quarter valued at about $37,000. Finally, Denver PWM LLC increased its position in Matador Resources by 67.2% during the third quarter. Denver PWM LLC now owns 754 shares of the energy company’s stock worth $37,000 after acquiring an additional 303 shares during the period. Institutional investors own 91.98% of the company’s stock.

Matador Resources Trading Up 3.6 %

Shares of Matador Resources stock opened at $48.61 on Monday. The firm’s 50 day moving average is $56.23 and its 200 day moving average is $54.99. The firm has a market capitalization of $6.09 billion, a PE ratio of 6.81 and a beta of 3.17. Matador Resources has a 1 year low of $43.89 and a 1 year 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 quarterly earnings results on Tuesday, February 18th. The energy company reported $1.83 earnings per share (EPS) 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 company had revenue of $970.37 million for the quarter, compared to analyst estimates of $967.10 million. Equities research analysts forecast that Matador Resources will post 8.53 earnings per share for the current fiscal year.

Matador Resources Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were given a $0.3125 dividend. The ex-dividend date was Friday, February 28th. This is an increase from Matador Resources’s previous quarterly dividend of $0.25. This represents a $1.25 annualized dividend and a yield of 2.57%. Matador Resources’s dividend payout ratio (DPR) is currently 17.51%.

Analyst Upgrades and Downgrades

MTDR has been the subject of a number of recent research reports. Truist Financial boosted their price objective on shares of Matador Resources from $75.00 to $80.00 and gave the company a “buy” rating in a report on Monday, January 13th. TD Cowen increased their price target on Matador Resources from $74.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Morgan Stanley assumed coverage on Matador Resources in a research note on Friday, January 10th. They set an “equal weight” rating and a $78.00 price objective on the stock. Stephens upped their target price on Matador Resources from $78.00 to $80.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. Finally, JPMorgan Chase & Co. decreased their price target on Matador Resources from $76.00 to $65.00 and set an “overweight” rating on the stock in a research report on Thursday. One research analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $74.20.

Insider Activity

In other Matador Resources news, COO Christopher P. Calvert purchased 1,300 shares of the company’s stock in a transaction dated Friday, February 21st. The stock was purchased at an average price of $55.17 per share, with a total value of $71,721.00. Following the completion of the purchase, the chief operating officer now owns 34,000 shares of the company’s stock, valued at approximately $1,875,780. The trade was a 3.98 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Robert T. Macalik acquired 1,200 shares of Matador Resources stock in a transaction that occurred on Wednesday, March 5th. The stock was acquired at an average cost of $47.98 per share, for a total transaction of $57,576.00. Following the purchase, the chief accounting officer now owns 31,000 shares of the company’s stock, valued at $1,487,380. The trade was a 4.03 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 20,850 shares of company stock valued at $1,077,024. 6.10% of the stock is currently owned by corporate insiders.

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.