Allspring Global Investments Holdings LLC Buys 66,665 Shares of Matador Resources (NYSE:MTDR)

Allspring Global Investments Holdings LLC increased its stake in Matador Resources (NYSE:MTDR) by 51.7% in the 4th quarter, HoldingsChannel.com reports. The firm owned 195,550 shares of the energy company’s stock after acquiring an additional 66,665 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Matador Resources were worth $11,119,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Raymond James Financial Services Advisors Inc. raised its position in shares of Matador Resources by 5.4% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 14,398 shares of the energy company’s stock valued at $763,000 after acquiring an additional 738 shares during the last quarter. US Bancorp DE raised its position in shares of Matador Resources by 2.1% during the 1st quarter. US Bancorp DE now owns 11,991 shares of the energy company’s stock valued at $635,000 after acquiring an additional 246 shares during the last quarter. PNC Financial Services Group Inc. raised its position in shares of Matador Resources by 28.6% during the 1st quarter. PNC Financial Services Group Inc. now owns 15,155 shares of the energy company’s stock valued at $804,000 after acquiring an additional 3,373 shares during the last quarter. MetLife Investment Management LLC raised its position in shares of Matador Resources by 53.9% during the 1st quarter. MetLife Investment Management LLC now owns 59,058 shares of the energy company’s stock valued at $3,129,000 after acquiring an additional 20,684 shares during the last quarter. Finally, Panagora Asset Management Inc. bought a new stake in shares of Matador Resources during the 1st quarter valued at $214,000. Institutional investors own 91.98% of the company’s stock.

Matador Resources Price Performance

Shares of NYSE MTDR opened at $66.96 on Wednesday. The firm has a market cap of $8.00 billion, a PE ratio of 9.50 and a beta of 3.32. The company has a current ratio of 1.04, a quick ratio of 0.98 and a debt-to-equity ratio of 0.53. Matador Resources has a 1-year low of $42.04 and a 1-year high of $71.08. The company has a fifty day moving average price of $64.11 and a 200 day moving average price of $59.78.

Matador Resources (NYSE:MTDR) last announced its earnings results on Wednesday, February 21st. The energy company reported $1.99 earnings per share for the quarter, missing analysts’ consensus estimates of $2.04 by ($0.05). The company had revenue of $836.13 million during the quarter, compared to analyst estimates of $842.96 million. Matador Resources had a return on equity of 21.54% and a net margin of 30.14%. Matador Resources’s revenue for the quarter was up 18.2% on a year-over-year basis. During the same period in the previous year, the company posted $2.08 earnings per share. Research analysts predict that Matador Resources will post 6.87 earnings per share for the current fiscal year.

Matador Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 13th. Stockholders of record on Friday, February 23rd were paid a dividend of $0.20 per share. The ex-dividend date was Thursday, February 22nd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.19%. Matador Resources’s dividend payout ratio is 11.35%.

Analyst Ratings Changes

Several analysts have commented on the stock. TD Cowen upped their target price on shares of Matador Resources from $64.00 to $72.00 and gave the company an “outperform” rating in a research report on Monday, March 4th. Mizuho upped their price objective on shares of Matador Resources from $67.00 to $76.00 and gave the company a “buy” rating in a research report on Monday, April 1st. JPMorgan Chase & Co. upped their price objective on shares of Matador Resources from $76.00 to $77.00 and gave the company an “overweight” rating in a research report on Thursday, April 11th. Wells Fargo & Company upped their price objective on shares of Matador Resources from $73.00 to $76.00 and gave the company an “overweight” rating in a research report on Thursday, March 7th. Finally, Truist Financial upped their price objective on shares of Matador Resources from $82.00 to $85.00 and gave the company a “buy” rating in a research report on Friday, April 5th. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, Matador Resources presently has a consensus rating of “Moderate Buy” and a consensus price target of $72.50.

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.