Heartland Advisors Inc. Makes New Investment in Matador Resources (NYSE:MTDR)

Heartland Advisors Inc. bought a new position in shares of Matador Resources (NYSE:MTDR) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 107,337 shares of the energy company’s stock, valued at approximately $6,039,000. Heartland Advisors Inc. owned 0.09% of Matador Resources as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Franklin Resources Inc. grew its stake in Matador Resources by 12.0% in the 3rd quarter. Franklin Resources Inc. now owns 1,008,421 shares of the energy company’s stock valued at $54,122,000 after acquiring an additional 107,827 shares during the last quarter. Stifel Financial Corp increased its position in Matador Resources by 81.2% during the 3rd quarter. Stifel Financial Corp now owns 30,304 shares of the energy company’s stock worth $1,498,000 after purchasing an additional 13,583 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in Matador Resources by 16.9% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 139,254 shares of the energy company’s stock valued at $8,088,000 after purchasing an additional 20,172 shares during the last quarter. HITE Hedge Asset Management LLC purchased a new position in Matador Resources in the 3rd quarter valued at about $10,526,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Matador Resources by 4.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,434,926 shares of the energy company’s stock worth $70,914,000 after purchasing an additional 57,254 shares during the last quarter. 91.98% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Matador Resources

In related news, Director Timothy E. Parker purchased 2,000 shares of Matador Resources stock in a transaction dated Wednesday, March 5th. The shares were acquired at an average price 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 approximately $3,742,899.30. This trade represents a 2.45 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Van H. Singleton II acquired 1,000 shares of the business’s stock in a transaction on Tuesday, February 25th. The shares were purchased at an average price of $52.72 per share, for a total transaction of $52,720.00. Following the purchase, the insider now directly owns 290,135 shares of the company’s stock, valued at $15,295,917.20. This represents a 0.35 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired a total of 21,350 shares of company stock valued at $1,100,769 in the last three months. Corporate insiders own 6.10% of the company’s stock.

Matador Resources Stock Down 2.0 %

NYSE MTDR opened at $50.46 on Friday. 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 fifty-two week low of $43.89 and a fifty-two week high of $71.08. The business has a 50 day moving average price of $54.28 and a two-hundred day moving average price of $54.84. The stock has a market cap of $6.32 billion, a PE ratio of 7.07 and a beta of 3.17.

Matador Resources (NYSE:MTDR) last issued its quarterly earnings data 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 firm had revenue of $970.37 million during 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%. As a group, sell-side analysts predict that Matador Resources will post 8.53 EPS for the current fiscal year.

Matador Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were issued a dividend of $0.3125 per share. 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 2.48%. Matador Resources’s payout ratio is currently 17.51%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on MTDR. Royal Bank of Canada restated an “outperform” rating and set a $70.00 target price on shares of Matador Resources in a research report on Wednesday, January 15th. Mizuho lowered their price objective on Matador Resources from $74.00 to $73.00 and set an “outperform” rating for the company in a research report on Monday, December 16th. Wells Fargo & Company reduced their target price on Matador Resources from $90.00 to $87.00 and set an “overweight” rating on the stock in a research report on Tuesday. Benchmark restated a “buy” rating and issued a $62.00 price target on shares of Matador Resources in a report on Friday, January 17th. Finally, Truist Financial increased their price objective on shares of Matador Resources from $75.00 to $80.00 and gave the stock a “buy” rating in a report on Monday, January 13th. One analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $73.79.

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.