California Public Employees Retirement System Sells 10,389 Shares of Matador Resources (NYSE:MTDR)

California Public Employees Retirement System decreased its holdings in shares of Matador Resources (NYSE:MTDR - Free Report) by 4.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 199,530 shares of the energy company's stock after selling 10,389 shares during the period. California Public Employees Retirement System owned about 0.16% of Matador Resources worth $11,226,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MTDR. Intrust Bank NA raised its stake in shares of Matador Resources by 11.0% in the fourth quarter. Intrust Bank NA now owns 12,599 shares of the energy company's stock valued at $709,000 after acquiring an additional 1,244 shares during the last quarter. Heartland Advisors Inc. acquired a new position in shares of Matador Resources in the 4th quarter valued at $6,039,000. Premier Fund Managers Ltd grew its holdings in shares of Matador Resources by 33.6% in the 4th quarter. Premier Fund Managers Ltd now owns 17,360 shares of the energy company's stock valued at $961,000 after buying an additional 4,368 shares during the period. Pictet Asset Management Holding SA boosted its stake in Matador Resources by 7.3% in the 4th quarter. Pictet Asset Management Holding SA now owns 16,871 shares of the energy company's stock worth $949,000 after purchasing an additional 1,149 shares during the period. Finally, New Age Alpha Advisors LLC acquired a new position in Matador Resources in the 4th quarter worth $1,451,000. Institutional investors own 91.98% of the company's stock.

Analyst Upgrades and Downgrades

MTDR has been the subject of a number of research analyst reports. TD Cowen upped their target price on shares of Matador Resources from $74.00 to $75.00 and gave the stock a "buy" rating in a research note on Thursday, December 19th. Mizuho cut their price target on shares of Matador Resources from $74.00 to $73.00 and set an "outperform" rating on the stock in a research report on Monday, December 16th. Benchmark reissued a "buy" rating and set a $62.00 price target on shares of Matador Resources in a research report on Friday, January 17th. Truist Financial boosted their price target on shares of Matador Resources from $75.00 to $80.00 and gave the stock a "buy" rating in a research report on Monday, January 13th. Finally, Wells Fargo & Company dropped 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, March 25th. One equities research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to MarketBeat, Matador Resources has an average rating of "Moderate Buy" and an average target price of $73.50.

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Insider Buying and Selling

In related news, insider Van H. Singleton II acquired 2,000 shares of the company's stock in a transaction that occurred on Friday, February 21st. The stock was acquired at an average price of $53.21 per share, with a total value of $106,420.00. Following the purchase, the insider now directly owns 289,135 shares in the company, valued at approximately $15,384,873.35. This trade represents a 0.70 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, COO Christopher P. Calvert acquired 1,300 shares of the company's stock in a transaction that occurred on Friday, February 21st. The stock was bought at an average cost of $55.17 per share, with a total value of $71,721.00. Following the purchase, the chief operating officer now owns 34,000 shares in the company, valued at $1,875,780. The trade was a 3.98 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 21,350 shares of company stock worth $1,100,769. Corporate insiders own 6.10% of the company's stock.

Matador Resources Stock Performance

MTDR traded down $4.21 on Thursday, reaching $38.30. The company had a trading volume of 515,001 shares, compared to its average volume of 1,536,481. The company's fifty day moving average is $50.75 and its 200 day moving average is $54.32. Matador Resources has a fifty-two week low of $35.19 and a fifty-two week high of $71.08. The stock has a market cap of $4.79 billion, a P/E ratio of 5.37 and a beta of 2.74. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.84 and a current ratio of 0.93.

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

Matador Resources Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were given a dividend of $0.3125 per share. 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 3.26%. Matador Resources's dividend payout ratio (DPR) 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.