Cerity Partners LLC Has $3.41 Million Holdings in Matador Resources Company (NYSE:MTDR)

Cerity Partners LLC decreased its holdings in shares of Matador Resources Company (NYSE:MTDR) by 11.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 66,823 shares of the energy company’s stock after selling 8,428 shares during the quarter. Cerity Partners LLC owned approximately 0.05% of Matador Resources worth $3,414,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. D.A. Davidson & CO. acquired a new position in Matador Resources during the first quarter valued at approximately $263,000. GAMMA Investing LLC raised its position in shares of Matador Resources by 42.8% in the first quarter. GAMMA Investing LLC now owns 2,698 shares of the energy company’s stock valued at $138,000 after purchasing an additional 809 shares during the period. Teacher Retirement System of Texas acquired a new position in shares of Matador Resources in the first quarter valued at about $885,000. Delphi Management Inc. MA boosted its holdings in Matador Resources by 118.6% in the 1st quarter. Delphi Management Inc. MA now owns 23,302 shares of the energy company’s stock valued at $1,190,000 after purchasing an additional 12,642 shares during the period. Finally, OneDigital Investment Advisors LLC acquired a new position in shares of Matador Resources during the 1st quarter worth approximately $200,000. Institutional investors own 91.98% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Joseph Wm Foran purchased 5,000 shares of the stock in a transaction on Tuesday, April 29th. The stock was bought at an average price of $40.86 per share, with a total value of $204,300.00. Following the transaction, the chief executive officer owned 50,756 shares in the company, valued at $2,073,890.16. The trade was a 10.93% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Glenn W. Stetson acquired 1,000 shares of the company’s stock in a transaction dated Monday, April 28th. The shares were purchased at an average cost of $41.53 per share, for a total transaction of $41,530.00. Following the purchase, the executive vice president directly owned 93,180 shares in the company, valued at approximately $3,869,765.40. This trade represents a 1.08% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders bought 14,850 shares of company stock worth $601,103. Insiders own 5.80% of the company’s stock.

Analyst Ratings Changes

MTDR has been the topic of several recent analyst reports. Mizuho decreased their target price on shares of Matador Resources from $74.00 to $73.00 and set an “outperform” rating on the stock in a report on Tuesday, May 13th. Royal Bank Of Canada cut their target price on shares of Matador Resources from $70.00 to $62.00 and set an “outperform” rating on the stock in a research report on Friday, April 11th. UBS Group upped their price target on shares of Matador Resources from $46.00 to $48.00 and gave the company a “neutral” rating in a research report on Thursday. TD Cowen raised Matador Resources to a “strong-buy” rating in a research note on Monday, July 7th. Finally, Morgan Stanley lowered their target price on shares of Matador Resources from $84.00 to $68.00 and set an “equal weight” rating for the company in a research note on Thursday, March 27th. Two equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $69.13.

Matador Resources Stock Down 0.8%

Shares of MTDR opened at $51.33 on Friday. The business’s 50 day simple moving average is $47.85 and its 200-day simple moving average is $49.79. Matador Resources Company has a 1 year low of $35.19 and a 1 year high of $64.95. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.79 and a quick ratio of 0.76. The stock has a market capitalization of $6.43 billion, a price-to-earnings ratio of 6.89 and a beta of 1.46.

Matador Resources (NYSE:MTDR) last released its quarterly earnings results on Wednesday, April 23rd. The energy company reported $1.99 EPS for the quarter, topping analysts’ consensus estimates of $1.74 by $0.25. Matador Resources had a net margin of 24.97% and a return on equity of 18.45%. The firm had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $980.87 million. During the same period in the previous year, the company earned $1.71 EPS. The firm’s revenue for the quarter was up 28.7% compared to the same quarter last year. As a group, equities analysts expect that Matador Resources Company will post 8.53 earnings per share for the current fiscal year.

Matador Resources declared that its board has authorized a share buyback program on Wednesday, April 23rd that allows the company to repurchase $400.00 million in outstanding shares. This repurchase authorization allows the energy company to purchase up to 7.8% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Matador Resources Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 5th. Stockholders of record on Friday, August 15th will be issued a $0.3125 dividend. The ex-dividend date is Friday, August 15th. This represents a $1.25 dividend on an annualized basis and a dividend yield of 2.44%. Matador Resources’s dividend payout ratio is presently 16.78%.

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.