Raymond James Financial Inc. Makes New $22.51 Million Investment in Matador Resources (NYSE:MTDR)

Raymond James Financial Inc. bought a new stake in Matador Resources (NYSE:MTDR - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 400,093 shares of the energy company's stock, valued at approximately $22,509,000. Raymond James Financial Inc. owned approximately 0.32% of Matador Resources as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Geode Capital Management LLC lifted its position in shares of Matador Resources by 1.9% during 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 last quarter. Charles Schwab Investment Management Inc. raised its position in Matador Resources by 3.9% during the fourth 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 grew its stake in Matador Resources by 4.3% during the 3rd quarter. Wasatch Advisors LP now owns 1,287,587 shares of the energy company's stock valued at $63,633,000 after acquiring an additional 52,498 shares in the last quarter. Copeland Capital Management LLC increased its holdings in shares of Matador Resources by 145.2% in the 4th quarter. Copeland Capital Management LLC now owns 1,283,743 shares of the energy company's stock valued at $72,223,000 after purchasing an additional 760,122 shares during the period. Finally, Bank of New York Mellon Corp increased its holdings in shares of Matador Resources by 3.3% in the 4th quarter. Bank of New York Mellon Corp now owns 1,217,645 shares of the energy company's stock valued at $68,505,000 after purchasing an additional 39,373 shares during the period. 91.98% of the stock is owned by institutional investors and hedge funds.

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Insider Transactions at Matador Resources

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

Matador Resources Trading Up 4.1 %

MTDR traded up $2.06 during trading on Wednesday, reaching $52.62. 1,688,200 shares of the company's stock were exchanged, compared to its average volume of 1,358,276. 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 has a one year low of $43.89 and a one year high of $71.08. The firm has a fifty day moving average price of $55.88 and a two-hundred day moving average price of $54.89. The stock has a market capitalization of $6.59 billion, a PE ratio of 7.37 and a beta of 3.17.

Matador Resources (NYSE:MTDR - Get Free Report) last announced its earnings results on Tuesday, February 18th. The energy company reported $1.83 EPS for the quarter, missing the consensus estimate of $1.88 by ($0.05). Matador Resources had a net margin of 25.26% and a return on equity of 18.52%. The company had revenue of $970.37 million during the quarter, compared to the consensus estimate of $967.10 million. As a group, equities research analysts forecast 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 issued a dividend of $0.3125 per share. This represents a $1.25 dividend on an annualized basis and a dividend yield of 2.38%. This is a boost from Matador Resources's previous quarterly dividend of $0.25. The ex-dividend date was Friday, February 28th. Matador Resources's dividend payout ratio is presently 17.51%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on MTDR shares. Morgan Stanley started coverage on Matador Resources in a research note on Friday, January 10th. They issued an "equal weight" rating and a $78.00 price target for the company. Raymond James dropped their price target on shares of Matador Resources from $77.00 to $67.00 and set an "outperform" rating on the stock in a research note on Monday, March 10th. Royal Bank of Canada restated an "outperform" rating and set a $70.00 price target on shares of Matador Resources in a report on Wednesday, January 15th. TD Cowen upped their price objective 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. Finally, JPMorgan Chase & Co. cut their target price on Matador Resources from $76.00 to $65.00 and set an "overweight" rating on the stock in a report on Thursday, March 13th. One research analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, Matador Resources has a consensus rating of "Moderate Buy" and an average price target of $74.20.

Matador Resources Company 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.