Madison Investment Advisors LLC Acquires New Shares in Matador Resources (NYSE:MTDR)

Madison Investment Advisors LLC acquired a new position in shares of Matador Resources (NYSE:MTDR - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 221,000 shares of the energy company's stock, valued at approximately $12,433,000. Madison Investment Advisors LLC owned 0.18% of Matador Resources as of its most recent SEC filing.

Several other large investors have also made changes to their positions in MTDR. Swiss National Bank grew its stake in shares of Matador Resources by 0.7% during the fourth quarter. Swiss National Bank now owns 233,202 shares of the energy company's stock worth $13,120,000 after buying an additional 1,700 shares during the last quarter. Avantax Advisory Services Inc. acquired a new stake in shares of Matador Resources during the fourth quarter worth $515,000. EverSource Wealth Advisors LLC lifted its stake in Matador Resources by 108.5% in the fourth quarter. EverSource Wealth Advisors LLC now owns 492 shares of the energy company's stock valued at $28,000 after buying an additional 256 shares during the period. Sequoia Financial Advisors LLC acquired a new stake in Matador Resources in the fourth quarter valued at approximately $519,000. Finally, HighTower Advisors LLC lifted its holdings in shares of Matador Resources by 8.4% in the fourth quarter. HighTower Advisors LLC now owns 7,768 shares of the energy company's stock valued at $437,000 after purchasing an additional 604 shares in the last quarter. Institutional investors and hedge funds own 91.98% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on MTDR. Wells Fargo & Company cut their price target on Matador Resources from $90.00 to $87.00 and set an "overweight" rating for the company in a research note on Tuesday. 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. Raymond James lowered their price objective 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. Wolfe Research upgraded shares of Matador Resources from a "peer perform" rating to an "outperform" rating and set a $72.00 price target on the stock in a research note on Friday, January 3rd. Finally, Truist Financial raised their price target 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. One investment 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 stock has a consensus rating of "Moderate Buy" and a consensus target price of $74.50.

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Insider Activity at Matador Resources

In related news, Director Timothy E. Parker bought 2,000 shares of the company's stock in a transaction on Wednesday, March 5th. The shares were purchased at an average cost of $44.67 per share, for a total transaction of $89,340.00. Following the acquisition, the director now owns 83,790 shares of the company's stock, valued at approximately $3,742,899.30. This represents a 2.45 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Christopher P. Calvert acquired 1,300 shares of Matador Resources stock in a transaction dated Friday, February 21st. The shares were purchased at an average cost of $55.17 per share, with a total value of $71,721.00. Following the completion of the transaction, the chief operating officer now directly owns 34,000 shares of the company's stock, valued at $1,875,780. This trade represents a 3.98 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased a total of 21,350 shares of company stock valued at $1,100,769 in the last 90 days. 6.10% of the stock is owned by corporate insiders.

Matador Resources Stock Performance

Shares of Matador Resources stock traded down $0.07 on Wednesday, reaching $52.25. 1,453,001 shares of the company were exchanged, compared to its average volume of 1,470,537. The company's 50-day moving average is $55.00 and its two-hundred day moving average is $54.88. Matador Resources has a 1-year low of $43.89 and a 1-year high of $71.08. The firm has a market cap of $6.54 billion, a price-to-earnings ratio of 7.32 and a beta of 3.17. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.84 and a current ratio of 0.93.

Matador Resources (NYSE:MTDR - Get Free Report) last posted its quarterly earnings data on Tuesday, February 18th. The energy company reported $1.83 EPS for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $967.10 million. As a group, research analysts expect that Matador Resources will post 8.53 earnings per share for the current fiscal year.

Matador Resources Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were paid a dividend of $0.3125 per share. The ex-dividend date was Friday, February 28th. This represents a $1.25 dividend on an annualized basis and a yield of 2.39%. This is an increase from Matador Resources's previous quarterly dividend of $0.25. Matador Resources's payout ratio is currently 17.51%.

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.