Zurcher Kantonalbank Zurich Cantonalbank Grows Position in Matador Resources (NYSE:MTDR)

Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Matador Resources (NYSE:MTDR - Free Report) by 48.6% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 30,982 shares of the energy company's stock after acquiring an additional 10,139 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Matador Resources were worth $1,743,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MTDR. Personal CFO Solutions LLC bought a new stake in Matador Resources in the fourth quarter worth $293,000. Jackson Creek Investment Advisors LLC lifted its position in Matador Resources by 9.3% in the fourth quarter. Jackson Creek Investment Advisors LLC now owns 26,580 shares of the energy company's stock worth $1,495,000 after buying an additional 2,268 shares during the last quarter. Vestmark Advisory Solutions Inc. bought a new stake in Matador Resources in the fourth quarter worth $252,000. Raymond James Financial Inc. bought a new stake in Matador Resources in the fourth quarter worth $22,509,000. Finally, Arizona State Retirement System lifted its position in Matador Resources by 0.8% in the fourth quarter. Arizona State Retirement System now owns 34,413 shares of the energy company's stock worth $1,936,000 after buying an additional 280 shares during the last quarter. 91.98% of the stock is currently owned by institutional investors.

Matador Resources Stock Down 1.4 %

Shares of MTDR stock traded down $0.72 during trading hours on Friday, reaching $51.59. 2,338,776 shares of the company's stock were exchanged, compared to its average volume of 1,464,697. Matador Resources has a 1 year low of $43.89 and a 1 year high of $71.08. The stock has a market cap of $6.46 billion, a PE ratio of 7.23 and a beta of 3.17. 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 stock's fifty day moving average price is $55.58 and its two-hundred day moving average price is $54.86.

Remove Ads

Matador Resources (NYSE:MTDR - Get Free Report) last issued its quarterly 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 business had revenue of $970.37 million for the quarter, compared to analysts' expectations of $967.10 million. Matador Resources had a return on equity of 18.52% and a net margin of 25.26%. Research analysts predict that Matador Resources will post 8.53 EPS for the current year.

Matador Resources Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were given a $0.3125 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $1.25 dividend on an annualized basis and a yield of 2.42%. This is a positive change from Matador Resources's previous quarterly dividend of $0.25. Matador Resources's dividend payout ratio is currently 17.51%.

Insider Activity at Matador Resources

In other news, Director Paul W. Harvey bought 600 shares of the company's stock in a transaction that occurred on Friday, February 21st. The shares were purchased at an average price of $55.20 per share, for a total transaction of $33,120.00. Following the completion of the transaction, the director now directly owns 27,917 shares in the company, valued at approximately $1,541,018.40. This represents a 2.20 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Joseph Wm Foran acquired 6,000 shares of the stock in a transaction on Friday, February 21st. The stock was bought at an average price of $53.94 per share, for a total transaction of $323,640.00. Following the transaction, the chief executive officer now owns 39,379 shares in the company, valued at approximately $2,124,103.26. This represents a 17.98 % increase in their position. The disclosure for this purchase can be found here. Insiders have bought a total of 21,350 shares of company stock worth $1,100,769 over the last quarter. Insiders own 6.10% of the company's stock.

Analyst Ratings Changes

MTDR has been the subject of a number of analyst reports. Wells Fargo & Company raised their price target on Matador Resources from $87.00 to $91.00 and gave the stock an "overweight" rating in a research report on Tuesday, December 17th. Royal Bank of Canada reiterated an "outperform" rating and issued a $70.00 target price on shares of Matador Resources in a research note on Wednesday, January 15th. TD Cowen increased their target price on Matador Resources from $74.00 to $75.00 and gave the stock a "buy" rating in a research note on Thursday, December 19th. Raymond James reduced their target price on Matador Resources from $77.00 to $67.00 and set an "outperform" rating on the stock in a research note on Monday, March 10th. Finally, JPMorgan Chase & Co. reduced their target price on Matador Resources from $76.00 to $65.00 and set an "overweight" rating on the stock in a research note on Thursday, March 13th. One investment analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. According to MarketBeat, Matador Resources presently has a consensus rating of "Moderate Buy" and an average price target of $74.20.

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.