Envestnet Asset Management Inc. Grows Position in Matador Resources (NYSE:MTDR)

Envestnet Asset Management Inc. lifted its stake in Matador Resources (NYSE:MTDR - Free Report) by 49.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 300,301 shares of the energy company's stock after purchasing an additional 99,711 shares during the period. Envestnet Asset Management Inc. owned about 0.24% of Matador Resources worth $16,895,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the stock. TCTC Holdings LLC lifted its position in shares of Matador Resources by 53.8% in the fourth quarter. TCTC Holdings LLC now owns 500 shares of the energy company's stock valued at $28,000 after acquiring an additional 175 shares in the last quarter. MassMutual Private Wealth & Trust FSB boosted its holdings in shares of Matador Resources by 68.3% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 510 shares of the energy company's stock valued at $29,000 after purchasing an additional 207 shares during the last quarter. Atria Investments Inc grew its position in Matador Resources by 3.1% during the fourth quarter. Atria Investments Inc now owns 8,188 shares of the energy company's stock valued at $461,000 after acquiring an additional 249 shares during the period. EverSource Wealth Advisors LLC increased its position in Matador Resources by 108.5% during the 4th quarter. EverSource Wealth Advisors LLC now owns 492 shares of the energy company's stock worth $28,000 after purchasing an additional 256 shares in the last quarter. Finally, Arizona State Retirement System raised its stake in shares of Matador Resources by 0.8% in 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 during the period. Hedge funds and other institutional investors own 91.98% of the company's stock.

Matador Resources Stock Performance

Shares of MTDR stock traded up $1.31 on Friday, hitting $41.44. 2,576,932 shares of the stock were exchanged, compared to its average volume of 1,555,146. 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 firm has a market capitalization of $5.19 billion, a PE ratio of 5.80 and a beta of 2.74. Matador Resources has a one year low of $35.19 and a one year high of $67.51. The firm's 50 day moving average is $48.21 and its two-hundred day moving average is $53.80.

Matador Resources (NYSE:MTDR - Get Free Report) last announced its quarterly 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 for the quarter, compared to analysts' expectations of $967.10 million. Matador Resources had a net margin of 25.26% and a return on equity of 18.52%. Sell-side analysts expect that Matador Resources will post 8.53 earnings per share for the current fiscal year.

Matador Resources Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 9th will be issued a $0.3125 dividend. This represents a $1.25 annualized dividend and a yield of 3.02%. The ex-dividend date of this dividend is Friday, May 9th. Matador Resources's payout ratio is 17.51%.

Insider Buying and Selling at Matador Resources

In related news, insider Van H. Singleton II purchased 2,000 shares of Matador Resources stock in a transaction that occurred on Friday, February 21st. The shares were acquired at an average cost of $53.21 per share, for a total transaction of $106,420.00. Following the transaction, the insider now directly owns 289,135 shares in the company, valued at $15,384,873.35. The trade was a 0.70 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Paul W. Harvey acquired 600 shares of the stock in a transaction on Friday, February 21st. The stock was bought at an average price of $55.20 per share, with a total value of $33,120.00. Following the transaction, the director now directly owns 27,917 shares of the company's stock, valued at approximately $1,541,018.40. The trade was a 2.20 % increase in their position. The disclosure for this purchase can be found here. Insiders have acquired a total of 21,350 shares of company stock valued at $1,100,769 in the last 90 days. Corporate insiders own 6.10% of the company's stock.

Analysts Set New Price Targets

Several research firms have issued reports on MTDR. Morgan Stanley dropped their price objective on Matador Resources from $84.00 to $68.00 and set an "equal weight" rating on the stock in a report on Thursday, March 27th. Benchmark restated a "buy" rating and set a $62.00 price target on shares of Matador Resources in a research report on Friday, January 17th. Royal Bank of Canada cut their price objective on Matador Resources from $70.00 to $62.00 and set an "outperform" rating for the company in a research report on Friday, April 11th. Raymond James reduced their price target on shares of Matador Resources from $77.00 to $67.00 and set an "outperform" rating for the company in a research report on Monday, March 10th. Finally, Wolfe Research raised Matador Resources from a "peer perform" rating to an "outperform" rating and set a $72.00 target price on the stock in a research note on Friday, January 3rd. One equities research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, Matador Resources presently has an average rating of "Moderate Buy" and an average target price of $73.29.

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.