Victory Capital Management Inc. Decreases Stock Position in Matador Resources (NYSE:MTDR)

Victory Capital Management Inc. reduced its position in Matador Resources (NYSE:MTDR - Free Report) by 4.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,630,227 shares of the energy company's stock after selling 121,875 shares during the period. Victory Capital Management Inc. owned 2.11% of Matador Resources worth $147,977,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of MTDR. Geode Capital Management LLC grew its stake in Matador Resources by 1.9% in the 3rd quarter. Geode Capital Management LLC now owns 2,008,730 shares of the energy company's stock valued at $99,297,000 after acquiring an additional 36,921 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in 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 valued at $83,916,000 after buying an additional 56,644 shares during the period. Wasatch Advisors LP raised its holdings in Matador Resources by 4.3% in the 3rd quarter. Wasatch Advisors LP now owns 1,287,587 shares of the energy company's stock valued at $63,633,000 after buying an additional 52,498 shares during the period. Copeland Capital Management LLC increased its stake in Matador Resources by 145.2% during the fourth quarter. Copeland Capital Management LLC now owns 1,283,743 shares of the energy company's stock worth $72,223,000 after purchasing an additional 760,122 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in Matador Resources by 3.3% during the fourth quarter. Bank of New York Mellon Corp now owns 1,217,645 shares of the energy company's stock worth $68,505,000 after purchasing an additional 39,373 shares during the period. 91.98% of the stock is currently owned by institutional investors and hedge funds.

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Analysts Set New Price Targets

MTDR has been the topic of a number of recent research reports. Wolfe Research upgraded shares of 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. Mizuho lowered their price target on Matador Resources from $74.00 to $73.00 and set an "outperform" rating for the company in a report on Monday, December 16th. Benchmark reaffirmed a "buy" rating and issued a $62.00 price target on shares of Matador Resources in a report on Friday, January 17th. TD Cowen increased their price objective on Matador Resources from $74.00 to $75.00 and gave the company a "buy" rating in a report on Thursday, December 19th. Finally, Morgan Stanley assumed coverage on Matador Resources in a report on Friday, January 10th. They issued an "equal weight" rating and a $78.00 price objective for the company. One investment analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Matador Resources has a consensus rating of "Moderate Buy" and an average target price of $75.14.

Matador Resources Price Performance

NYSE:MTDR traded up $0.48 during mid-day trading on Friday, reaching $45.27. 2,017,925 shares of the company were exchanged, compared to its average volume of 1,275,039. The company has a quick ratio of 0.84, a current ratio of 0.93 and a debt-to-equity ratio of 0.61. The stock has a market cap of $5.67 billion, a PE ratio of 6.34 and a beta of 3.17. Matador Resources has a 12 month low of $43.89 and a 12 month high of $71.08. The company has a fifty day moving average of $57.21 and a 200 day moving average of $55.35.

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 (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 company had revenue of $970.37 million for the quarter, compared to the consensus estimate of $967.10 million. On average, research analysts anticipate that Matador Resources will post 8.53 EPS for the current fiscal year.

Matador Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be issued a $0.3125 dividend. This represents a $1.25 annualized dividend and a dividend yield of 2.76%. The ex-dividend date of this dividend is Friday, February 28th. This is an increase from Matador Resources's previous quarterly dividend of $0.25. Matador Resources's dividend payout ratio is presently 17.51%.

Insider Transactions at Matador Resources

In other news, insider Van H. Singleton II acquired 2,000 shares of the firm's stock in a transaction that occurred on 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 purchase, the insider now directly owns 289,135 shares of the company's stock, valued at $15,384,873.35. The trade was a 0.70 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Paul W. Harvey bought 600 shares of the firm's stock in a transaction on Friday, February 21st. The shares were bought at an average cost of $55.20 per share, for a total transaction of $33,120.00. Following the purchase, the director now 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 bought 21,530 shares of company stock worth $1,119,092 in the last ninety days. Insiders own 6.10% of the company's stock.

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.