Sequoia Financial Advisors LLC Takes Position in Matador Resources (NYSE:MTDR)

Sequoia Financial Advisors LLC purchased a new position in Matador Resources (NYSE:MTDR) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 9,231 shares of the energy company’s stock, valued at approximately $519,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. MassMutual Private Wealth & Trust FSB increased its position in shares of Matador Resources by 68.3% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 510 shares of the energy company’s stock worth $29,000 after purchasing an additional 207 shares during the last quarter. SRS Capital Advisors Inc. increased its holdings in 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 buying an additional 453 shares during the last quarter. True Wealth Design LLC acquired a new stake in Matador Resources during the third quarter valued at approximately $37,000. Denver PWM LLC lifted its holdings in Matador Resources by 67.2% during the 3rd 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 last quarter. Finally, Avior Wealth Management LLC lifted its holdings in Matador Resources by 329.0% during the 3rd quarter. Avior Wealth Management LLC now owns 828 shares of the energy company’s stock worth $41,000 after buying an additional 635 shares during the last quarter. Hedge funds and other institutional investors own 91.98% of the company’s stock.

Analyst Ratings Changes

MTDR has been the topic of several research analyst reports. Royal Bank of Canada restated an “outperform” rating and set a $70.00 price objective on shares of Matador Resources in a research note on Wednesday, January 15th. TD Cowen lifted their price target on shares of Matador Resources from $74.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, December 19th. JPMorgan Chase & Co. lowered their price objective on shares of Matador Resources from $76.00 to $65.00 and set an “overweight” rating for the company in a research report on Thursday, March 13th. Truist Financial raised their target price 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. Finally, Wolfe Research raised Matador Resources from a “peer perform” rating to an “outperform” rating and set a $72.00 target price for the company in a report on Friday, January 3rd. One analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $74.20.

Matador Resources Stock Performance

Shares of MTDR opened at $50.34 on Tuesday. The firm has a market capitalization of $6.30 billion, a PE ratio of 7.05 and a beta of 3.17. The company has a quick ratio of 0.84, a current ratio of 0.93 and a debt-to-equity ratio of 0.61. The firm has a 50-day moving average price of $56.07 and a 200 day moving average price of $54.94. Matador Resources has a 52-week low of $43.89 and a 52-week high of $71.08.

Matador Resources (NYSE:MTDR) last posted its quarterly earnings data 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). The company had revenue of $970.37 million during the quarter, compared to the consensus estimate of $967.10 million. Matador Resources had a net margin of 25.26% and a return on equity of 18.52%. On average, sell-side analysts anticipate that Matador Resources will post 8.53 earnings per share for the current fiscal year.

Matador Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were issued a $0.3125 dividend. This is a positive change from Matador Resources’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Friday, February 28th. This represents a $1.25 annualized dividend and a dividend yield of 2.48%. Matador Resources’s dividend payout ratio is 17.51%.

Insider Activity at Matador Resources

In related news, Director Timothy E. Parker purchased 2,000 shares of the company’s stock in a transaction on Wednesday, March 5th. The shares were bought at an average price of $44.67 per share, with a total value of $89,340.00. Following the completion of the acquisition, the director now owns 83,790 shares of the company’s stock, valued at approximately $3,742,899.30. This represents a 2.45 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Robert T. Macalik acquired 1,200 shares of Matador Resources stock in a transaction dated Wednesday, March 5th. The shares were bought at an average cost of $47.98 per share, with a total value of $57,576.00. Following the completion of the purchase, the chief accounting officer now owns 31,000 shares in the company, valued at approximately $1,487,380. This represents a 4.03 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought 20,850 shares of company stock valued at $1,077,024 over the last 90 days. 6.10% of the stock is currently owned by corporate insiders.

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.