Royce & Associates LP Sells 72,718 Shares of Matador Resources (NYSE:MTDR)

Royce & Associates LP lessened its holdings in shares of Matador Resources (NYSE:MTDR - Free Report) by 20.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 284,845 shares of the energy company's stock after selling 72,718 shares during the period. Royce & Associates LP owned about 0.23% of Matador Resources worth $16,025,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Envestnet Portfolio Solutions Inc. boosted its position in shares of Matador Resources by 8.1% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 9,630 shares of the energy company's stock worth $542,000 after acquiring an additional 723 shares in the last quarter. Natixis Advisors LLC raised its stake in shares of Matador Resources by 39.0% during the fourth quarter. Natixis Advisors LLC now owns 228,411 shares of the energy company's stock valued at $12,850,000 after acquiring an additional 64,043 shares during the last quarter. First Eagle Investment Management LLC raised its stake in shares of Matador Resources by 4.7% during the fourth quarter. First Eagle Investment Management LLC now owns 325,335 shares of the energy company's stock valued at $18,303,000 after acquiring an additional 14,550 shares during the last quarter. Madison Investment Advisors LLC bought a new position in shares of Matador Resources during the fourth quarter valued at $12,433,000. Finally, Swiss National Bank raised its stake in 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. Institutional investors and hedge funds own 91.98% of the company's stock.

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Matador Resources Price Performance

NYSE:MTDR traded down $0.33 during mid-day trading on Thursday, hitting $52.29. 1,611,906 shares of the stock traded hands, compared to its average volume of 1,459,434. The business's 50-day moving average price is $55.74 and its 200 day moving average price is $54.88. The company has a market cap of $6.55 billion, a PE ratio of 7.32 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 quick ratio of 0.84, a current ratio of 0.93 and a debt-to-equity ratio of 0.61.

Matador Resources (NYSE:MTDR - Get Free Report) last released its quarterly earnings results 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 company had revenue of $970.37 million during the quarter, compared to analysts' expectations of $967.10 million. On average, analysts expect that Matador Resources will post 8.53 EPS for the current fiscal year.

Matador Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were paid a $0.3125 dividend. 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. This represents a $1.25 dividend on an annualized basis and a dividend yield of 2.39%. Matador Resources's dividend payout ratio is 17.51%.

Insider Activity

In related news, insider Van H. Singleton II acquired 2,000 shares of the firm's stock in a transaction on Friday, February 21st. The stock was acquired at an average cost of $53.21 per share, for a total transaction of $106,420.00. Following the acquisition, the insider now owns 289,135 shares of the company's stock, valued at $15,384,873.35. This trade represents a 0.70 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Paul W. Harvey acquired 600 shares of the firm's stock in a transaction on Friday, February 21st. The stock was bought at an average price of $55.20 per share, with a total value of $33,120.00. Following the completion of the acquisition, 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 position. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 21,350 shares of company stock valued at $1,100,769. Corporate insiders own 6.10% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Stephens lifted their target price 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. Royal Bank of Canada reiterated an "outperform" rating and set a $70.00 price objective on shares of Matador Resources in a report on Wednesday, January 15th. Raymond James cut their price target on shares of Matador Resources from $77.00 to $67.00 and set an "outperform" rating on the stock in a report on Monday, March 10th. Mizuho cut their price target on shares of Matador Resources from $74.00 to $73.00 and set an "outperform" rating on the stock in a report on Monday, December 16th. Finally, Wolfe Research raised shares of Matador Resources from a "peer perform" rating to an "outperform" rating and set a $72.00 price objective on the stock in a research report on Friday, January 3rd. One investment analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus 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.