Mirae Asset Global Investments Co. Ltd. Cuts Stake in Matador Resources (NYSE:MTDR)

Mirae Asset Global Investments Co. Ltd. lowered its stake in shares of Matador Resources (NYSE:MTDR) by 2.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 52,616 shares of the energy company’s stock after selling 1,269 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Matador Resources were worth $2,992,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of MTDR. Parkside Financial Bank & Trust grew its stake in shares of Matador Resources by 82.0% in the 3rd quarter. Parkside Financial Bank & Trust now owns 444 shares of the energy company’s stock valued at $26,000 after buying an additional 200 shares during the period. Financial Management Professionals Inc. purchased a new stake in shares of Matador Resources in the 4th quarter valued at approximately $34,000. McGlone Suttner Wealth Management Inc. purchased a new stake in shares of Matador Resources in the 4th quarter valued at approximately $35,000. Money Concepts Capital Corp grew its stake in shares of Matador Resources by 202.6% in the 4th quarter. Money Concepts Capital Corp now owns 690 shares of the energy company’s stock valued at $39,000 after buying an additional 462 shares during the period. Finally, Rockefeller Capital Management L.P. grew its stake in shares of Matador Resources by 46.7% in the 4th quarter. Rockefeller Capital Management L.P. now owns 760 shares of the energy company’s stock valued at $42,000 after buying an additional 242 shares during the period. Hedge funds and other institutional investors own 91.98% of the company’s stock.

Matador Resources Price Performance

Matador Resources stock opened at $65.67 on Thursday. The firm has a market cap of $7.85 billion, a PE ratio of 9.31 and a beta of 3.32. Matador Resources has a 52-week low of $42.04 and a 52-week high of $71.08. The company has a quick ratio of 0.98, a current ratio of 1.04 and a debt-to-equity ratio of 0.53. The company’s 50 day moving average is $64.34 and its two-hundred day moving average is $59.83.

Matador Resources (NYSE:MTDR) last announced its quarterly earnings data on Wednesday, February 21st. The energy company reported $1.99 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 firm had revenue of $836.13 million during the quarter, compared to analysts’ expectations of $842.96 million. During the same period in the prior year, the company posted $2.08 earnings per share. The company’s revenue for the quarter was up 18.2% on a year-over-year basis. On average, research analysts expect that Matador Resources will post 6.87 EPS for the current fiscal year.

Matador Resources Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 13th. Investors of record on Friday, February 23rd were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date was Thursday, February 22nd. Matador Resources’s dividend payout ratio (DPR) is 11.35%.

Wall Street Analyst Weigh In

MTDR has been the subject of several analyst reports. StockNews.com raised shares of Matador Resources from a “sell” rating to a “hold” rating in a research note on Thursday, February 22nd. Benchmark decreased their price objective on shares of Matador Resources from $71.00 to $62.00 and set a “buy” rating on the stock in a report on Thursday, January 25th. JPMorgan Chase & Co. upped their price objective on shares of Matador Resources from $76.00 to $77.00 and gave the stock an “overweight” rating in a report on Thursday, April 11th. Truist Financial upped their price objective on shares of Matador Resources from $82.00 to $85.00 and gave the stock a “buy” rating in a report on Friday, April 5th. Finally, Mizuho upped their price objective on shares of Matador Resources from $67.00 to $76.00 and gave the stock a “buy” rating in a report on Monday, April 1st. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average 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.