Matador Resources (NYSE:MTDR) Shares Sold by Congress Asset Management Co.

Congress Asset Management Co. trimmed its position in shares of Matador Resources (NYSE:MTDR - Free Report) by 36.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 67,671 shares of the energy company's stock after selling 38,284 shares during the period. Congress Asset Management Co. owned about 0.05% of Matador Resources worth $3,807,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in MTDR. Raymond James & Associates increased its stake in Matador Resources by 8.3% in the third quarter. Raymond James & Associates now owns 217,895 shares of the energy company's stock valued at $10,768,000 after purchasing an additional 16,681 shares during the last quarter. Carolina Wealth Advisors LLC purchased a new position in Matador Resources in the third quarter valued at approximately $78,000. Foundations Investment Advisors LLC purchased a new position in Matador Resources in the third quarter valued at approximately $202,000. Signaturefd LLC increased its stake in Matador Resources by 26.8% in the third quarter. Signaturefd LLC now owns 2,685 shares of the energy company's stock valued at $133,000 after purchasing an additional 568 shares during the last quarter. Finally, Greenleaf Trust increased its stake in Matador Resources by 3.8% in the third quarter. Greenleaf Trust now owns 7,086 shares of the energy company's stock valued at $350,000 after purchasing an additional 260 shares during the last quarter. 91.98% of the stock is currently owned by hedge funds and other institutional investors.

Matador Resources Stock Performance

Shares of NYSE MTDR traded down $3.38 during mid-day trading on Friday, hitting $53.10. 1,832,748 shares of the company were exchanged, compared to its average volume of 1,090,766. 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 stock has a 50 day simple moving average of $58.17 and a 200-day simple moving average of $55.79. Matador Resources has a 1-year low of $47.15 and a 1-year high of $71.08. The firm has a market cap of $6.62 billion, a price-to-earnings ratio of 7.44 and a beta of 3.22.

Matador Resources (NYSE:MTDR - Get Free Report) last released its earnings results 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 net margin of 25.26% and a return on equity of 18.52%. On average, sell-side analysts forecast that Matador Resources will post 8.53 EPS for the current fiscal year.

Matador Resources Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be paid a dividend of $0.3125 per share. The ex-dividend date of this dividend is Friday, February 28th. This is a boost 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 2.35%. Matador Resources's dividend payout ratio is 14.01%.

Insider Buying and Selling

In related news, CEO Joseph Wm Foran bought 2,000 shares of the stock in a transaction on Friday, December 6th. The shares were bought at an average cost of $55.18 per share, for a total transaction of $110,360.00. Following the completion of the transaction, the chief executive officer now owns 42,251 shares of the company's stock, valued at $2,331,410.18. This represents a 4.97 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP William Thomas Elsener bought 800 shares of the stock in a transaction on Friday, December 13th. The shares were bought at an average price of $56.60 per share, for a total transaction of $45,280.00. Following the completion of the transaction, the executive vice president now directly owns 102,964 shares of the company's stock, valued at $5,827,762.40. This trade represents a 0.78 % increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 2,980 shares of company stock valued at $165,988. Corporate insiders own 6.10% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on MTDR shares. Wells Fargo & Company increased their price objective on Matador Resources from $87.00 to $91.00 and gave the company an "overweight" rating in a report on Tuesday, December 17th. Wolfe Research raised Matador Resources from a "peer perform" rating to an "outperform" rating and set a $72.00 price objective for the company in a report on Friday, January 3rd. Stephens increased their price objective on Matador Resources from $78.00 to $80.00 and gave the company an "overweight" rating in a report on Friday, December 6th. Truist Financial increased their price objective on Matador Resources from $75.00 to $80.00 and gave the company a "buy" rating in a report on Monday, January 13th. Finally, Mizuho decreased their price objective on Matador Resources from $74.00 to $73.00 and set an "outperform" rating for the company in a report on Monday, December 16th. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $75.14.

Matador Resources 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.