William Blair Investment Management LLC Decreases Stake in Matador Resources Company $MTDR

William Blair Investment Management LLC reduced its holdings in Matador Resources Company (NYSE:MTDR) by 9.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 416,308 shares of the energy company’s stock after selling 43,598 shares during the period. William Blair Investment Management LLC owned approximately 0.34% of Matador Resources worth $17,668,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Jefferies Financial Group Inc. purchased a new position in shares of Matador Resources in the fourth quarter worth about $3,382,000. Legato Capital Management LLC lifted its stake in shares of Matador Resources by 3.4% in the fourth quarter. Legato Capital Management LLC now owns 9,369 shares of the energy company’s stock worth $398,000 after buying an additional 305 shares in the last quarter. LSV Asset Management lifted its stake in shares of Matador Resources by 8.8% in the fourth quarter. LSV Asset Management now owns 3,842,011 shares of the energy company’s stock worth $163,055,000 after buying an additional 309,708 shares in the last quarter. Global Retirement Partners LLC lifted its stake in shares of Matador Resources by 1,536.9% in the fourth quarter. Global Retirement Partners LLC now owns 3,192 shares of the energy company’s stock worth $135,000 after buying an additional 2,997 shares in the last quarter. Finally, Leonteq Securities AG purchased a new position in shares of Matador Resources in the fourth quarter worth about $86,000. 91.98% of the stock is owned by hedge funds and other institutional investors.

Matador Resources Price Performance

Matador Resources stock opened at $56.62 on Tuesday. Matador Resources Company has a 12-month low of $37.14 and a 12-month high of $66.84. The stock has a market cap of $7.03 billion, a P/E ratio of 14.56 and a beta of 0.81. The company has a 50-day moving average price of $59.68 and a 200 day moving average price of $50.06. The company has a current ratio of 0.73, a quick ratio of 0.70 and a debt-to-equity ratio of 0.59.

Matador Resources (NYSE:MTDR) last released its quarterly earnings data on Wednesday, May 6th. The energy company reported $1.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.24 by $0.29. Matador Resources had a net margin of 14.41% and a return on equity of 11.20%. The firm had revenue of $941.60 million during the quarter, compared to analysts’ expectations of $871.57 million. During the same period last year, the business earned $1.99 earnings per share. Matador Resources’s revenue was down 33.8% compared to the same quarter last year. Sell-side analysts anticipate that Matador Resources Company will post 7.36 earnings per share for the current year.

Matador Resources Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 5th. Shareholders of record on Friday, May 8th will be paid a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend is Friday, May 8th. Matador Resources’s dividend payout ratio (DPR) is 38.56%.

Analysts Set New Price Targets

Several research firms have recently weighed in on MTDR. TD Cowen raised their price target on shares of Matador Resources from $60.00 to $65.00 and gave the stock a “buy” rating in a research note on Tuesday, March 17th. UBS Group raised their price objective on shares of Matador Resources from $50.00 to $52.00 and gave the stock a “neutral” rating in a research report on Thursday, March 5th. Weiss Ratings cut shares of Matador Resources from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, May 12th. Morgan Stanley raised their price objective on shares of Matador Resources from $73.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Friday. Finally, Zacks Research upgraded shares of Matador Resources from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, April 8th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $65.23.

About Matador Resources

Matador Resources Company is an independent energy firm primarily engaged in the exploration, development and production of oil, natural gas liquids (NGLs) and natural gas. The company focuses on upstream operations, utilizing horizontal drilling and hydraulic fracturing techniques to unlock hydrocarbons from key reservoirs. Its asset base includes both operated and non?operated positions, with a particular emphasis on the Permian Basin, one of the most prolific oil-producing regions in North America.

Matador’s core operations are concentrated in the Delaware Basin segment of the Permian Basin, where it holds substantial acreage in both Reeves and Culberson counties in West Texas and Eddy and Lea counties in New Mexico.