Avantax Advisory Services Inc. Purchases New Shares in Matador Resources (NYSE:MTDR)

Avantax Advisory Services Inc. bought a new stake in Matador Resources (NYSE:MTDR - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 9,162 shares of the energy company's stock, valued at approximately $515,000.

Several other large investors have also modified their holdings of the stock. Avior Wealth Management LLC boosted its position in shares of 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 purchasing an additional 635 shares in the last quarter. Commerce Bank increased its position in Matador Resources by 9.7% during the 3rd quarter. Commerce Bank now owns 12,360 shares of the energy company's stock worth $611,000 after purchasing an additional 1,098 shares in the last quarter. King Luther Capital Management Corp raised its position in shares of Matador Resources by 180.2% in the third quarter. King Luther Capital Management Corp now owns 11,208 shares of the energy company's stock valued at $554,000 after buying an additional 7,208 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Matador Resources by 4.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,434,926 shares of the energy company's stock valued at $70,914,000 after acquiring an additional 57,254 shares during the last quarter. Finally, Raymond James Trust N.A. lifted its position in Matador Resources by 44.0% during the third quarter. Raymond James Trust N.A. now owns 8,226 shares of the energy company's stock worth $407,000 after buying an additional 2,512 shares during the period. Hedge funds and other institutional investors own 91.98% of the company's stock.

Remove Ads

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Wolfe Research raised shares of Matador Resources from a "peer perform" rating to an "outperform" rating and set a $72.00 price target on the stock in a research note on Friday, January 3rd. Royal Bank of Canada reaffirmed an "outperform" rating and set a $70.00 price target on shares of Matador Resources in a research report on Wednesday, January 15th. Benchmark reissued a "buy" rating and issued a $62.00 price objective on shares of Matador Resources in a research report on Friday, January 17th. Wells Fargo & Company reduced their target price on shares of Matador Resources from $90.00 to $87.00 and set an "overweight" rating on the stock in a report on Tuesday. Finally, JPMorgan Chase & Co. lowered their price target on Matador Resources from $76.00 to $65.00 and set an "overweight" rating for the company in a report on Thursday, March 13th. One equities research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $74.50.

Insider Transactions at Matador Resources

In other news, CEO Joseph Wm Foran bought 6,000 shares of the firm's stock in a transaction that occurred on Friday, February 21st. The stock was acquired at an average price of $53.94 per share, with a total value 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. This represents a 17.98 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Timothy E. Parker acquired 2,000 shares of the stock in a transaction dated Wednesday, March 5th. The stock was acquired at an average cost of $44.67 per share, for a total transaction of $89,340.00. Following the purchase, the director now directly owns 83,790 shares in the company, valued at approximately $3,742,899.30. The trade was a 2.45 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders bought 21,350 shares of company stock worth $1,100,769. Insiders own 6.10% of the company's stock.

Matador Resources Stock Down 0.1 %

MTDR stock traded down $0.07 during mid-day trading on Wednesday, hitting $52.25. 1,453,001 shares of the company were exchanged, compared to its average volume of 1,470,537. 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 capitalization of $6.54 billion, a PE ratio of 7.32 and a beta of 3.17. Matador Resources has a twelve month low of $43.89 and a twelve month high of $71.08. The firm has a fifty day simple moving average of $55.00 and a 200 day simple moving average of $54.88.

Matador Resources (NYSE:MTDR - Get Free Report) last released its quarterly earnings data on Tuesday, February 18th. The energy company reported $1.83 EPS for the quarter, missing analysts' consensus estimates of $1.88 by ($0.05). The business had revenue of $970.37 million during the quarter, compared to analyst estimates of $967.10 million. Matador Resources had a return on equity of 18.52% and a net margin of 25.26%. On average, research analysts forecast that Matador Resources will post 8.53 earnings per share for the current fiscal year.

Matador Resources Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were given a dividend of $0.3125 per share. This represents a $1.25 dividend on an annualized basis and a dividend yield of 2.39%. This is a boost from Matador Resources's previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Friday, February 28th. Matador Resources's dividend payout ratio is presently 17.51%.

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.