JPMorgan Chase & Co. Reduces Stock Position in Matador Resources (NYSE:MTDR)

JPMorgan Chase & Co. trimmed its holdings in Matador Resources (NYSE:MTDR - Free Report) by 4.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,798,852 shares of the energy company's stock after selling 79,298 shares during the period. JPMorgan Chase & Co. owned 1.44% of Matador Resources worth $101,203,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. FMR LLC grew its stake in Matador Resources by 162.9% during the 3rd quarter. FMR LLC now owns 478,795 shares of the energy company's stock valued at $23,662,000 after acquiring an additional 296,663 shares in the last quarter. BNP Paribas Financial Markets grew its position in shares of Matador Resources by 71.3% in the third quarter. BNP Paribas Financial Markets now owns 26,959 shares of the energy company's stock valued at $1,332,000 after purchasing an additional 11,218 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Matador Resources by 14.1% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 20,843 shares of the energy company's stock valued at $1,030,000 after purchasing an additional 2,578 shares in the last quarter. Captrust Financial Advisors increased its holdings in shares of Matador Resources by 19.5% in the third quarter. Captrust Financial Advisors now owns 44,469 shares of the energy company's stock valued at $2,198,000 after purchasing an additional 7,254 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in Matador Resources during the third quarter worth approximately $263,000. 91.98% of the stock is currently owned by institutional investors and hedge funds.

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Matador Resources Trading Down 0.3 %

NYSE MTDR traded down $0.13 on Monday, reaching $38.25. The stock had a trading volume of 4,005,936 shares, compared to its average volume of 1,522,111. Matador Resources has a 12-month low of $35.61 and a 12-month high of $71.08. The stock has a fifty day moving average price of $52.34 and a two-hundred day moving average price of $54.70. The firm has a market capitalization of $4.79 billion, a price-to-earnings ratio of 5.36 and a beta of 2.74. The company has a quick ratio of 0.84, a current ratio of 0.93 and a debt-to-equity ratio of 0.61.

Matador Resources (NYSE:MTDR - Get Free Report) last posted 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). Matador Resources had a return on equity of 18.52% and a net margin of 25.26%. The firm had revenue of $970.37 million for the quarter, compared to analyst estimates of $967.10 million. As a group, sell-side analysts forecast that Matador Resources will post 8.53 EPS for the current fiscal year.

Matador Resources Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were given a dividend of $0.3125 per share. This represents a $1.25 annualized dividend and a dividend yield of 3.27%. The ex-dividend date was Friday, February 28th. This is a boost from Matador Resources's previous quarterly dividend of $0.25. Matador Resources's dividend payout ratio is currently 17.51%.

Insider Activity

In related news, CEO Joseph Wm Foran acquired 6,000 shares of the firm's stock in a transaction dated Friday, February 21st. The stock was acquired at an average price of $53.94 per share, for a total transaction of $323,640.00. Following the purchase, the chief executive officer now 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Van H. Singleton II bought 2,000 shares of the business's stock in a transaction that occurred on Friday, February 21st. The shares were purchased at an average price of $53.21 per share, for a total transaction of $106,420.00. Following the completion of 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 disclosure for this purchase can be found here. Over the last quarter, insiders acquired 21,350 shares of company stock valued at $1,100,769. 6.10% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several analysts have issued reports on MTDR shares. Royal Bank of Canada restated an "outperform" rating and issued a $70.00 target price on shares of Matador Resources in a report on Wednesday, January 15th. Truist Financial upped their price objective on shares of Matador Resources from $75.00 to $80.00 and gave the company a "buy" rating in a report on Monday, January 13th. Raymond James cut their price objective 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. Morgan Stanley decreased their target price on shares of Matador Resources from $84.00 to $68.00 and set an "equal weight" rating on the stock in a report on Thursday, March 27th. Finally, TD Cowen raised their price target on shares of Matador Resources from $74.00 to $75.00 and gave the stock a "buy" rating in a report on Thursday, December 19th. One research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to data from MarketBeat.com, Matador Resources currently has a consensus rating of "Moderate Buy" and an average target price of $73.79.

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.