Envestnet Asset Management Inc. Has $16.90 Million Stock Holdings in Matador Resources (NYSE:MTDR)

Envestnet Asset Management Inc. raised its holdings in shares of Matador Resources (NYSE:MTDR) by 49.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 300,301 shares of the energy company’s stock after acquiring an additional 99,711 shares during the period. Envestnet Asset Management Inc. owned approximately 0.24% of Matador Resources worth $16,895,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. EverSource Wealth Advisors LLC raised its position in shares of Matador Resources by 108.5% during the fourth quarter. EverSource Wealth Advisors LLC now owns 492 shares of the energy company’s stock worth $28,000 after purchasing an additional 256 shares during the period. TCTC Holdings LLC boosted its stake in shares of Matador Resources by 53.8% during the 4th quarter. TCTC Holdings LLC now owns 500 shares of the energy company’s stock worth $28,000 after acquiring an additional 175 shares during the period. MassMutual Private Wealth & Trust FSB boosted its holdings in shares of Matador Resources by 68.3% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 510 shares of the energy company’s stock worth $29,000 after acquiring an additional 207 shares during the period. SRS Capital Advisors Inc. raised its stake in Matador Resources by 359.5% in the 4th quarter. SRS Capital Advisors Inc. now owns 579 shares of the energy company’s stock worth $33,000 after purchasing an additional 453 shares in the last quarter. Finally, Denver PWM LLC grew its holdings in shares of Matador Resources by 67.2% during the 3rd quarter. Denver PWM LLC now owns 754 shares of the energy company’s stock worth $37,000 after purchasing an additional 303 shares in the last quarter. Institutional investors own 91.98% of the company’s stock.

Insider Activity at Matador Resources

In other Matador Resources news, insider Van H. Singleton II bought 2,000 shares of the business’s stock in a transaction that occurred on Friday, February 21st. The stock was bought at an average cost of $53.21 per share, for a total transaction of $106,420.00. Following the completion of the transaction, the insider now owns 289,135 shares of the company’s stock, valued at $15,384,873.35. This represents a 0.70 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Glenn W. Stetson acquired 1,000 shares of Matador Resources stock in a transaction dated Friday, February 21st. The stock was bought at an average price of $53.06 per share, with a total value of $53,060.00. Following the completion of the purchase, the executive vice president now directly owns 91,680 shares in the company, valued at $4,864,540.80. This represents a 1.10 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 21,350 shares of company stock valued at $1,100,769. 6.10% of the stock is owned by corporate insiders.

Matador Resources Stock Performance

NYSE:MTDR opened at $38.96 on Wednesday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.84 and a current ratio of 0.93. The business has a 50 day moving average price of $49.25 and a 200-day moving average price of $54.01. The firm has a market cap of $4.88 billion, a PE ratio of 5.46 and a beta of 2.74. Matador Resources has a fifty-two week low of $35.19 and a fifty-two week high of $67.72.

Matador Resources (NYSE:MTDR) last released its quarterly earnings results on Tuesday, February 18th. The energy company reported $1.83 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.88 by ($0.05). The company had revenue of $970.37 million during the quarter, compared to the consensus estimate of $967.10 million. Matador Resources had a return on equity of 18.52% and a net margin of 25.26%. Equities research analysts predict that Matador Resources will post 8.53 earnings per share for the current year.

Matador Resources Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were given a $0.3125 dividend. This represents a $1.25 annualized dividend and a dividend yield of 3.21%. The ex-dividend date was Friday, February 28th. This is a positive change from Matador Resources’s previous quarterly dividend of $0.25. Matador Resources’s payout ratio is currently 17.51%.

Analysts Set New Price Targets

MTDR has been the subject of a number of research reports. Raymond James dropped their target price on shares of Matador Resources from $77.00 to $67.00 and set an “outperform” rating for the company in a report on Monday, March 10th. Royal Bank of Canada cut their price target on Matador Resources from $70.00 to $62.00 and set an “outperform” rating on the stock in a report on Friday, April 11th. JPMorgan Chase & Co. cut their price objective on Matador Resources from $65.00 to $61.00 and set an “overweight” rating on the stock in a research report on Thursday, April 10th. Benchmark reissued a “buy” rating and set a $62.00 target price on shares of Matador Resources in a report on Friday, January 17th. Finally, Truist Financial upped their target price on shares of Matador Resources from $75.00 to $80.00 and gave the stock a “buy” rating in a report on Monday, January 13th. One equities research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $73.36.

About Matador Resources

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.