Corebridge Financial Inc. Decreases Stake in Matador Resources (NYSE:MTDR)

Corebridge Financial Inc. lowered its stake in Matador Resources (NYSE:MTDR - Free Report) by 4.3% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 131,414 shares of the energy company's stock after selling 5,970 shares during the quarter. Corebridge Financial Inc. owned about 0.11% of Matador Resources worth $7,393,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Charles Schwab Investment Management Inc. boosted its position in shares of Matador Resources by 4.2% during 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. Citigroup Inc. lifted its position in Matador Resources by 40.1% during the third quarter. Citigroup Inc. now owns 138,580 shares of the energy company's stock valued at $6,849,000 after purchasing an additional 39,630 shares during the last quarter. Cerity Partners LLC grew its stake in shares of Matador Resources by 42.8% in the 3rd quarter. Cerity Partners LLC now owns 69,082 shares of the energy company's stock worth $3,414,000 after buying an additional 20,700 shares in the last quarter. FMR LLC increased its holdings in shares of Matador Resources by 162.9% in the 3rd quarter. FMR LLC now owns 478,795 shares of the energy company's stock worth $23,662,000 after buying an additional 296,663 shares during the last quarter. Finally, Quantbot Technologies LP purchased a new stake in shares of Matador Resources during the 3rd quarter valued at about $891,000. Institutional investors own 91.98% of the company's stock.

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Insider Buying and Selling at Matador Resources

In other Matador Resources news, insider Van H. Singleton II purchased 2,000 shares of Matador Resources stock in a transaction dated Friday, February 21st. The shares were acquired at an average cost of $53.21 per share, with a total value of $106,420.00. Following the completion of the transaction, the insider now owns 289,135 shares in the company, valued at approximately $15,384,873.35. This trade represents a 0.70 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Joseph Wm Foran acquired 6,000 shares of the stock in a transaction dated Friday, February 21st. The stock was acquired at an average cost of $53.94 per share, with a total value of $323,640.00. Following the transaction, the chief executive officer now directly owns 39,379 shares in the company, valued at approximately $2,124,103.26. This represents a 17.98 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 21,350 shares of company stock valued at $1,100,769. 6.10% of the stock is currently owned by insiders.

Matador Resources Stock Up 0.5 %

Shares of MTDR traded up $0.25 during mid-day trading on Wednesday, hitting $51.36. The company's stock had a trading volume of 147,719 shares, compared to its average volume of 1,371,641. 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's 50-day moving average is $53.79 and its 200-day moving average is $54.94. Matador Resources has a 52-week low of $43.89 and a 52-week high of $71.08. The firm has a market capitalization of $6.43 billion, a price-to-earnings ratio of 7.19 and a beta of 3.17.

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 the consensus estimate of $1.88 by ($0.05). The company had revenue of $970.37 million for the quarter, compared to the consensus estimate of $967.10 million. Matador Resources had a net margin of 25.26% and a return on equity of 18.52%. On average, equities research analysts forecast that Matador Resources will post 8.53 EPS for the current fiscal year.

Matador Resources Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were issued a $0.3125 dividend. The ex-dividend date of this dividend was Friday, February 28th. 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 yield of 2.43%. Matador Resources's payout ratio is currently 17.51%.

Wall Street Analysts Forecast Growth

MTDR has been the subject of several recent research reports. Stephens lifted their price target on Matador Resources from $78.00 to $80.00 and gave the stock an "overweight" rating in a research report on Friday, December 6th. Royal Bank of Canada reissued an "outperform" rating and set a $70.00 target price on shares of Matador Resources in a research report on Wednesday, January 15th. Truist Financial raised their price target on Matador Resources from $75.00 to $80.00 and gave the stock a "buy" rating in a research report on Monday, January 13th. TD Cowen boosted their price objective on shares of Matador Resources from $74.00 to $75.00 and gave the company a "buy" rating in a research report on Thursday, December 19th. Finally, Raymond James lowered their target price on shares of Matador Resources from $77.00 to $67.00 and set an "outperform" rating for the company in a report on Monday, March 10th. One equities research 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 currently has a consensus rating of "Moderate Buy" and a consensus price target of $73.79.

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.