Fisher Asset Management LLC Increases Stock Position in Matador Resources (NYSE:MTDR)

Fisher Asset Management LLC grew its holdings in shares of Matador Resources (NYSE:MTDR) by 23.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 785,610 shares of the energy company’s stock after buying an additional 146,922 shares during the period. Fisher Asset Management LLC’s holdings in Matador Resources were worth $44,198,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. MassMutual Private Wealth & Trust FSB boosted its stake in 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 acquiring an additional 207 shares in the last quarter. True Wealth Design LLC bought a new position in shares of Matador Resources during the third quarter valued at approximately $37,000. Denver PWM LLC lifted its holdings in shares of Matador Resources by 67.2% during the third quarter. Denver PWM LLC now owns 754 shares of the energy company’s stock valued at $37,000 after purchasing an additional 303 shares during the last quarter. Avior Wealth Management LLC boosted its position in shares of Matador Resources by 329.0% in the 3rd quarter. Avior Wealth Management LLC now owns 828 shares of the energy company’s stock worth $41,000 after purchasing an additional 635 shares in the last quarter. Finally, First Horizon Advisors Inc. boosted its position in shares of Matador Resources by 90.2% in the 4th quarter. First Horizon Advisors Inc. now owns 858 shares of the energy company’s stock worth $48,000 after purchasing an additional 407 shares in the last quarter. 91.98% of the stock is owned by hedge funds and other institutional investors.

Matador Resources Trading Down 0.4 %

Shares of MTDR stock opened at $52.31 on Monday. 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 has a 12-month low of $47.15 and a 12-month high of $71.08. The stock has a market capitalization of $6.53 billion, a P/E ratio of 7.33 and a beta of 3.22. The firm’s 50 day moving average is $58.01 and its 200 day moving average is $55.71.

Matador Resources (NYSE:MTDR) last released its quarterly earnings results on Tuesday, February 18th. The energy company reported $1.83 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.88 by ($0.05). Matador Resources had a return on equity of 18.52% and a net margin of 25.26%. The firm had revenue of $970.37 million during the quarter, compared to analysts’ expectations of $967.10 million. Research analysts expect that Matador Resources will post 8.53 earnings per share for the current year.

Matador Resources Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be paid a dividend of $0.3125 per share. This is an increase from Matador Resources’s previous quarterly dividend of $0.25. This represents a $1.25 dividend on an annualized basis and a dividend yield of 2.39%. The ex-dividend date is Friday, February 28th. Matador Resources’s payout ratio is currently 17.51%.

Insider Activity

In other Matador Resources news, EVP William Thomas Elsener purchased 800 shares of the company’s stock in a transaction dated Friday, December 13th. The shares were acquired at an average price of $56.60 per share, for a total transaction of $45,280.00. Following the purchase, the executive vice president now directly owns 102,964 shares of the company’s stock, valued at $5,827,762.40. The trade was a 0.78 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Joseph Wm Foran acquired 2,000 shares of Matador Resources stock in a transaction dated Friday, December 6th. The stock was bought at an average price of $55.18 per share, with a total value of $110,360.00. Following the completion of the purchase, the chief executive officer now directly owns 42,251 shares in the company, valued at $2,331,410.18. This represents a 4.97 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired 17,330 shares of company stock valued at $936,166 in the last quarter. 6.10% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

MTDR has been the subject of a number of recent research reports. Royal Bank of Canada reiterated an “outperform” rating and set a $70.00 price objective on shares of Matador Resources in a research note on Wednesday, January 15th. Benchmark reaffirmed a “buy” rating and issued a $62.00 price target on shares of Matador Resources in a research report on Friday, January 17th. TD Cowen upped their price target on shares of Matador Resources from $74.00 to $75.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Morgan Stanley assumed coverage on shares of Matador Resources in a research note on Friday, January 10th. They set an “equal weight” rating and a $78.00 price objective for the company. Finally, Stephens upped their target price on shares of Matador Resources from $78.00 to $80.00 and gave the stock an “overweight” rating in a research note on Friday, December 6th. One equities research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, Matador Resources has a consensus rating of “Moderate Buy” and a consensus target price of $75.14.

About Matador Resources

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.