Matador Resources (NYSE:MTDR) Stake Reduced by Arizona State Retirement System

Arizona State Retirement System decreased its holdings in shares of Matador Resources (NYSE:MTDR) by 1.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 31,642 shares of the energy company’s stock after selling 596 shares during the period. Arizona State Retirement System’s holdings in Matador Resources were worth $1,799,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in the business. Parkside Financial Bank & Trust lifted its stake in Matador Resources by 82.0% during the third quarter. Parkside Financial Bank & Trust now owns 444 shares of the energy company’s stock valued at $26,000 after purchasing an additional 200 shares during the last quarter. Financial Management Professionals Inc. acquired a new position in Matador Resources in the fourth quarter worth approximately $34,000. McGlone Suttner Wealth Management Inc. bought a new position in shares of Matador Resources in the fourth quarter valued at $35,000. Money Concepts Capital Corp lifted its position in shares of Matador Resources by 202.6% during the 4th quarter. Money Concepts Capital Corp now owns 690 shares of the energy company’s stock valued at $39,000 after acquiring an additional 462 shares during the last quarter. Finally, Rockefeller Capital Management L.P. boosted its stake in shares of Matador Resources by 46.7% during the 4th quarter. Rockefeller Capital Management L.P. now owns 760 shares of the energy company’s stock worth $42,000 after acquiring an additional 242 shares in the last quarter. Institutional investors and hedge funds own 91.98% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on MTDR. TD Cowen boosted their target price on Matador Resources from $64.00 to $72.00 and gave the stock an “outperform” rating in a research report on Monday, March 4th. Raymond James reduced their price objective on shares of Matador Resources from $76.00 to $70.00 and set an “outperform” rating for the company in a research note on Monday, January 8th. Royal Bank of Canada reiterated an “outperform” rating and issued a $70.00 target price on shares of Matador Resources in a report on Tuesday, March 5th. StockNews.com upgraded shares of Matador Resources from a “sell” rating to a “hold” rating in a report on Thursday, February 22nd. Finally, Roth Mkm reaffirmed a “buy” rating and issued a $66.00 price objective on shares of Matador Resources in a research note on Monday, March 25th. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, Matador Resources presently has a consensus rating of “Moderate Buy” and a consensus price target of $72.50.

Matador Resources Stock Performance

MTDR stock opened at $68.54 on Friday. The firm has a 50 day simple moving average of $63.55 and a 200 day simple moving average of $59.69. Matador Resources has a 52 week low of $42.04 and a 52 week high of $71.08. The stock has a market cap of $8.19 billion, a P/E ratio of 9.72 and a beta of 3.32. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.98 and a current ratio of 1.04.

Matador Resources (NYSE:MTDR) last issued its earnings results on Wednesday, February 21st. The energy company reported $1.99 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.04 by ($0.05). Matador Resources had a net margin of 30.14% and a return on equity of 21.54%. The company had revenue of $836.13 million for the quarter, compared to analyst estimates of $842.96 million. During the same period last year, the business earned $2.08 EPS. The company’s quarterly revenue was up 18.2% on a year-over-year basis. Research analysts anticipate that Matador Resources will post 6.88 earnings per share for the current fiscal year.

Matador Resources Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 13th. Investors of record on Friday, February 23rd were paid a $0.20 dividend. The ex-dividend date of this dividend was Thursday, February 22nd. This represents a $0.80 annualized dividend and a dividend yield of 1.17%. Matador Resources’s payout ratio is 11.35%.

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.