Northern Trust Corp Has $65.60 Million Stock Holdings in Matador Resources (NYSE:MTDR)

Northern Trust Corp boosted its stake in shares of Matador Resources (NYSE:MTDR) by 22.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,166,077 shares of the energy company’s stock after purchasing an additional 217,339 shares during the quarter. Northern Trust Corp owned about 0.93% of Matador Resources worth $65,603,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Altshuler Shaham Ltd bought a new stake in shares of Matador Resources during the 4th quarter worth about $25,000. TCTC Holdings LLC boosted its holdings 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 acquiring an additional 175 shares during the period. EverSource Wealth Advisors LLC grew its position in shares of Matador Resources by 108.5% in the fourth quarter. EverSource Wealth Advisors LLC now owns 492 shares of the energy company’s stock valued at $28,000 after purchasing an additional 256 shares during the last quarter. MassMutual Private Wealth & Trust FSB grew its position in shares of Matador Resources by 68.3% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 510 shares of the energy company’s stock valued at $29,000 after purchasing an additional 207 shares during the last quarter. Finally, SRS Capital Advisors Inc. increased its stake 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 purchasing an additional 453 shares during the period. 91.98% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Matador Resources news, CEO Joseph Wm Foran purchased 2,500 shares of the firm’s stock in a transaction on Monday, May 5th. The stock was purchased at an average cost of $39.93 per share, for a total transaction of $99,825.00. Following the transaction, the chief executive officer now owns 58,256 shares in the company, valued at $2,326,162.08. The trade was a 4.48 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP William Thomas Elsener purchased 750 shares of the business’s stock in a transaction dated Thursday, May 1st. The shares were acquired at an average price of $40.10 per share, for a total transaction of $30,075.00. Following the acquisition, the executive vice president now owns 111,197 shares of the company’s stock, valued at $4,458,999.70. This trade represents a 0.68 % increase in their position. The disclosure for this purchase can be found here. Insiders bought a total of 33,400 shares of company stock valued at $1,590,704 in the last 90 days. Corporate insiders own 6.10% of the company’s stock.

Matador Resources Stock Up 1.7 %

Shares of NYSE MTDR opened at $40.33 on Wednesday. The stock has a 50-day moving average price of $44.71 and a two-hundred day moving average price of $52.77. Matador Resources has a 12 month low of $35.19 and a 12 month high of $66.89. The company has a current ratio of 0.93, a quick ratio of 0.84 and a debt-to-equity ratio of 0.61. The company has a market cap of $5.05 billion, a price-to-earnings ratio of 5.65 and a beta of 1.47.

Matador Resources (NYSE:MTDR) last issued its quarterly earnings data on Wednesday, April 23rd. The energy company reported $1.99 EPS for the quarter, beating the consensus estimate of $1.74 by $0.25. Matador Resources had a net margin of 25.26% and a return on equity of 18.52%. The business had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $980.87 million. During the same quarter in the prior year, the firm earned $1.71 EPS. The firm’s revenue was up 28.7% compared to the same quarter last year. As a group, analysts forecast that Matador Resources will post 8.53 earnings per share for the current fiscal year.

Matador Resources announced that its board has authorized a stock repurchase plan on Wednesday, April 23rd that authorizes the company to repurchase $400.00 million in shares. This repurchase authorization authorizes the energy company to buy up to 7.8% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

Matador Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 9th will be given a dividend of $0.3125 per share. The ex-dividend date is Friday, May 9th. This represents a $1.25 dividend on an annualized basis and a yield of 3.10%. Matador Resources’s dividend payout ratio is currently 16.78%.

Wall Street Analyst Weigh In

A number of research analysts have commented on MTDR shares. Wells Fargo & Company decreased their price objective on Matador Resources from $86.00 to $80.00 and set an “overweight” rating on the stock in a report on Monday, April 28th. Stephens lowered their price target on shares of Matador Resources from $90.00 to $86.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 15th. Raymond James cut their price objective on shares of Matador Resources from $77.00 to $67.00 and set an “outperform” rating for the company in a report on Monday, March 10th. Royal Bank of Canada lowered their target price on shares of Matador Resources from $70.00 to $62.00 and set an “outperform” rating on the stock in a report on Friday, April 11th. Finally, KeyCorp cut their price target on Matador Resources from $72.00 to $60.00 and set an “overweight” rating for the company in a research note on Monday, April 21st. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $70.33.

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.