KLP Kapitalforvaltning AS Buys New Holdings in Matador Resources (NYSE:MTDR)

KLP Kapitalforvaltning AS bought a new stake in shares of Matador Resources (NYSE:MTDR - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 24,300 shares of the energy company's stock, valued at approximately $1,367,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Franklin Resources Inc. boosted its position in shares of Matador Resources by 12.0% during the 3rd quarter. Franklin Resources Inc. now owns 1,008,421 shares of the energy company's stock valued at $54,122,000 after acquiring an additional 107,827 shares during the last quarter. Stifel Financial Corp raised its stake in Matador Resources by 81.2% during the third quarter. Stifel Financial Corp now owns 30,304 shares of the energy company's stock valued at $1,498,000 after purchasing an additional 13,583 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in Matador Resources by 16.9% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 139,254 shares of the energy company's stock valued at $8,088,000 after purchasing an additional 20,172 shares during the last quarter. HITE Hedge Asset Management LLC purchased a new position in shares of Matador Resources in the 3rd quarter worth $10,526,000. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Matador Resources by 3.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,491,570 shares of the energy company's stock worth $83,916,000 after buying an additional 56,644 shares during the last quarter. 91.98% of the stock is currently owned by institutional investors.

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Matador Resources Trading Down 14.7 %

Shares of Matador Resources stock traded down $7.67 on Thursday, hitting $44.57. 3,833,549 shares of the company traded hands, compared to its average volume of 1,500,142. Matador Resources has a 52 week low of $43.89 and a 52 week high of $71.08. The company has a market cap of $5.58 billion, a PE ratio of 6.24 and a beta of 3.17. The stock's 50 day moving average price is $53.22 and its 200-day moving average price is $54.85. The company has a current ratio of 0.93, a quick ratio of 0.84 and a debt-to-equity ratio of 0.61.

Matador Resources (NYSE:MTDR - Get Free Report) last issued its earnings results on Tuesday, February 18th. The energy company reported $1.83 earnings per share for the quarter, missing analysts' consensus estimates of $1.88 by ($0.05). The firm 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%. Equities research analysts predict that Matador Resources will post 8.53 EPS for the current year.

Matador Resources Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were issued a dividend of $0.3125 per share. This represents a $1.25 annualized dividend and a yield of 2.80%. This is a boost from Matador Resources's previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Friday, February 28th. Matador Resources's dividend payout ratio is presently 17.51%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Wells Fargo & Company dropped their price target on Matador Resources from $90.00 to $87.00 and set an "overweight" rating for the company in a research report on Tuesday, March 25th. Benchmark reissued a "buy" rating and set a $62.00 target price on shares of Matador Resources in a research report on Friday, January 17th. Morgan Stanley decreased their price target 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. Stephens lifted their price objective on shares of Matador Resources from $78.00 to $80.00 and gave the stock an "overweight" rating in a research note on Friday, December 6th. Finally, Truist Financial increased their target price on shares of Matador Resources from $75.00 to $80.00 and gave the company a "buy" rating in a research note on Monday, January 13th. One research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, Matador Resources presently has an average rating of "Moderate Buy" and an average target price of $73.79.

Insiders Place Their Bets

In related news, EVP Glenn W. Stetson acquired 1,000 shares of the firm's stock in a transaction that occurred on Friday, February 21st. The stock was purchased at an average cost of $53.06 per share, for a total transaction of $53,060.00. Following the purchase, the executive vice president now directly owns 91,680 shares of the company's stock, valued at $4,864,540.80. This trade represents a 1.10 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Timothy E. Parker bought 2,000 shares of the business's stock in a transaction on Wednesday, March 5th. The stock was bought at an average price of $44.67 per share, for a total transaction of $89,340.00. Following the purchase, the director now directly owns 83,790 shares of the company's stock, valued at $3,742,899.30. The trade was a 2.45 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired a total of 21,350 shares of company stock worth $1,100,769 in the last three months. Corporate insiders own 6.10% of the company's stock.

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.