Bryce Point Capital LLC Takes Position in Matador Resources (NYSE:MTDR)

Bryce Point Capital LLC bought a new stake in shares of Matador Resources (NYSE:MTDR - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 19,625 shares of the energy company's stock, valued at approximately $1,104,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MTDR. TCTC Holdings LLC raised its holdings in Matador Resources by 53.8% in the 4th quarter. TCTC Holdings LLC now owns 500 shares of the energy company's stock worth $28,000 after purchasing an additional 175 shares in the last quarter. MassMutual Private Wealth & Trust FSB increased 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 valued at $29,000 after buying an additional 207 shares during the period. Atria Investments Inc lifted its holdings in Matador Resources by 3.1% in the fourth quarter. Atria Investments Inc now owns 8,188 shares of the energy company's stock worth $461,000 after buying an additional 249 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in Matador Resources by 108.5% in 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. Finally, Arizona State Retirement System boosted its position in Matador Resources by 0.8% during the 4th quarter. Arizona State Retirement System now owns 34,413 shares of the energy company's stock valued at $1,936,000 after acquiring an additional 280 shares in the last quarter. Hedge funds and other institutional investors own 91.98% of the company's stock.

Remove Ads

Analyst Upgrades and Downgrades

A number of research firms have recently commented on MTDR. Wells Fargo & Company lowered their target price on Matador Resources from $90.00 to $87.00 and set an "overweight" rating for the company in a research note on Tuesday, March 25th. Truist Financial lifted their price target on shares of Matador Resources from $75.00 to $80.00 and gave the company a "buy" rating in a research report on Monday, January 13th. Benchmark restated a "buy" rating and issued a $62.00 price objective on shares of Matador Resources in a report on Friday, January 17th. Raymond James dropped their price target on Matador Resources from $77.00 to $67.00 and set an "outperform" rating on the stock in a research report on Monday, March 10th. Finally, TD Cowen lifted 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. One investment analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $73.79.

Insider Activity

In related news, insider Van H. Singleton II acquired 2,000 shares of Matador Resources stock in a transaction dated Friday, February 21st. The stock was purchased at an average cost 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 position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Joseph Wm Foran bought 6,000 shares of the stock in a transaction that occurred on Friday, February 21st. The shares were bought at an average price of $53.94 per share, for a total transaction of $323,640.00. Following the completion of the transaction, 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 disclosure for this purchase can be found here. Insiders acquired 21,350 shares of company stock valued at $1,100,769 in the last quarter. 6.10% of the stock is currently owned by insiders.

Matador Resources Stock Performance

Shares of MTDR traded down $0.40 during mid-day trading on Tuesday, hitting $37.93. 548,698 shares of the company traded hands, compared to its average volume of 1,518,401. Matador Resources has a 1 year low of $35.61 and a 1 year high of $71.08. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.84 and a current ratio of 0.93. The stock has a 50-day moving average price of $52.34 and a two-hundred day moving average price of $54.70. The stock has a market cap of $4.75 billion, a price-to-earnings ratio of 5.31 and a beta of 2.74.

Matador Resources (NYSE:MTDR - Get Free Report) last released its quarterly earnings results on Tuesday, February 18th. The energy company reported $1.83 earnings per share for the quarter, missing the consensus estimate of $1.88 by ($0.05). Matador Resources had a net margin of 25.26% and a return on equity of 18.52%. The firm had revenue of $970.37 million for 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 year.

Matador Resources Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were paid a dividend of $0.3125 per share. This is an increase from Matador Resources's previous quarterly dividend of $0.25. This represents a $1.25 dividend on an annualized basis and a dividend yield of 3.30%. The ex-dividend date of this dividend was Friday, February 28th. Matador Resources's payout ratio is currently 17.51%.

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.