Geode Capital Management LLC Raises Holdings in Matador Resources (NYSE:MTDR)

Geode Capital Management LLC increased its holdings in Matador Resources (NYSE:MTDR) by 0.1% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 2,010,781 shares of the energy company’s stock after acquiring an additional 2,051 shares during the period. Geode Capital Management LLC’s holdings in Matador Resources were worth $113,160,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the business. TCTC Holdings LLC boosted its position in shares of 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 buying an additional 175 shares during the period. EverSource Wealth Advisors LLC boosted its position in shares of Matador Resources by 108.5% during the fourth quarter. EverSource Wealth Advisors LLC now owns 492 shares of the energy company’s stock worth $28,000 after buying an additional 256 shares during the period. MassMutual Private Wealth & Trust FSB boosted its position 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 during the period. SRS Capital Advisors Inc. boosted its position in shares of Matador Resources by 359.5% during the fourth quarter. SRS Capital Advisors Inc. now owns 579 shares of the energy company’s stock worth $33,000 after buying an additional 453 shares during the period. Finally, Denver PWM LLC boosted its position 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 worth $37,000 after buying an additional 303 shares during the period. 91.98% of the stock is currently owned by hedge funds and other institutional investors.

Matador Resources Stock Performance

Shares of MTDR stock opened at $42.58 on Thursday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.84 and a current ratio of 0.93. Matador Resources has a one year low of $35.19 and a one year high of $71.08. The company’s 50-day simple moving average is $50.75 and its 200-day simple moving average is $54.32. The stock has a market capitalization of $5.33 billion, a price-to-earnings ratio of 5.96 and a beta of 2.74.

Matador Resources (NYSE:MTDR) last issued its 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 business had revenue of $970.37 million during the quarter, compared to the consensus estimate of $967.10 million. Equities analysts anticipate that Matador Resources will post 8.53 earnings per share for the current fiscal year.

Matador Resources Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were issued a dividend of $0.3125 per share. This represents a $1.25 dividend on an annualized basis and a dividend yield of 2.94%. The ex-dividend date was Friday, February 28th. This is a boost from Matador Resources’s previous quarterly dividend of $0.25. Matador Resources’s payout ratio is 17.51%.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Mizuho lowered their price target 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. Truist Financial raised their price target on Matador Resources from $75.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. TD Cowen increased 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. JPMorgan Chase & Co. reduced their price objective on Matador Resources from $76.00 to $65.00 and set an “overweight” rating on the stock in a research note on Thursday, March 13th. Finally, Morgan Stanley reduced their price objective on Matador Resources from $84.00 to $68.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 27th. One research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $73.79.

Insider Activity

In related news, CEO Joseph Wm Foran acquired 6,000 shares of the stock in a transaction that occurred on Friday, February 21st. The shares were acquired at an average price of $53.94 per share, for a total transaction of $323,640.00. Following the completion of the purchase, the chief executive officer now directly owns 39,379 shares of the company’s stock, valued at $2,124,103.26. The trade was a 17.98 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Van H. Singleton II acquired 2,000 shares of the stock in a transaction that occurred on Friday, February 21st. The shares were bought at an average price of $53.21 per share, for a total transaction of $106,420.00. Following the purchase, the insider now directly owns 289,135 shares of the company’s stock, valued at approximately $15,384,873.35. This trade represents a 0.70 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 21,350 shares of company stock valued at $1,100,769. Insiders own 6.10% of the company’s stock.

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.