Principal Financial Group Inc. Sells 166,321 Shares of Matador Resources (NYSE:MTDR)

Principal Financial Group Inc. trimmed its stake in Matador Resources (NYSE:MTDR) by 16.2% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 862,676 shares of the energy company’s stock after selling 166,321 shares during the period. Principal Financial Group Inc.’s holdings in Matador Resources were worth $51,415,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in MTDR. Vanguard Group Inc. increased its stake in shares of Matador Resources by 0.9% in the first quarter. Vanguard Group Inc. now owns 11,124,705 shares of the energy company’s stock worth $742,797,000 after purchasing an additional 103,713 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Matador Resources by 2.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,028,782 shares of the energy company’s stock worth $229,083,000 after buying an additional 87,299 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Matador Resources by 31.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,206,041 shares of the energy company’s stock valued at $125,435,000 after acquiring an additional 531,504 shares during the period. Clearbridge Investments LLC grew its stake in shares of Matador Resources by 11.8% in the first quarter. Clearbridge Investments LLC now owns 2,035,702 shares of the energy company’s stock worth $135,924,000 after acquiring an additional 215,298 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in Matador Resources by 3.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,480,882 shares of the energy company’s stock worth $84,203,000 after acquiring an additional 52,005 shares during the period. Institutional investors own 91.98% of the company’s stock.

Matador Resources Stock Performance

Matador Resources stock opened at $56.72 on Friday. The firm has a market capitalization of $7.08 billion, a P/E ratio of 7.77 and a beta of 3.29. The stock has a fifty day moving average price of $58.92 and a two-hundred day moving average price of $61.71. Matador Resources has a 52-week low of $50.79 and a 52-week high of $71.08. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.86 and a quick ratio of 0.82.

Matador Resources (NYSE:MTDR) last announced its earnings results on Tuesday, July 23rd. The energy company reported $2.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.76 by $0.29. The business had revenue of $847.14 million during the quarter, compared to analysts’ expectations of $822.55 million. Matador Resources had a net margin of 29.01% and a return on equity of 21.12%. The firm’s revenue for the quarter was up 32.8% on a year-over-year basis. During the same quarter last year, the company posted $1.42 EPS. As a group, analysts anticipate that Matador Resources will post 7.87 EPS for the current fiscal year.

Matador Resources Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 5th. Stockholders of record on Thursday, August 15th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.41%. The ex-dividend date is Thursday, August 15th. Matador Resources’s payout ratio is currently 10.96%.

Insider Buying and Selling

In other Matador Resources news, CAO Robert T. Macalik bought 500 shares of the stock in a transaction dated Friday, August 2nd. The stock was bought at an average cost of $54.50 per share, for a total transaction of $27,250.00. Following the completion of the purchase, the chief accounting officer now owns 29,300 shares in the company, valued at approximately $1,596,850. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Joseph Wm Foran acquired 2,000 shares of Matador Resources stock in a transaction on Friday, August 2nd. The shares were purchased at an average price of $55.96 per share, with a total value of $111,920.00. Following the acquisition, the chief executive officer now owns 35,251 shares in the company, valued at $1,972,645.96. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CAO Robert T. Macalik acquired 500 shares of the firm’s stock in a transaction on Friday, August 2nd. The stock was purchased at an average price of $54.50 per share, for a total transaction of $27,250.00. Following the completion of the transaction, the chief accounting officer now directly owns 29,300 shares in the company, valued at approximately $1,596,850. The disclosure for this purchase can be found here. Insiders have acquired a total of 4,250 shares of company stock worth $236,995 in the last three months. Insiders own 6.10% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on MTDR. Capital One Financial upgraded shares of Matador Resources from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $80.00 to $84.00 in a research report on Thursday, July 25th. Benchmark reissued a “buy” rating and set a $62.00 target price on shares of Matador Resources in a research report on Wednesday, July 24th. Wells Fargo & Company upped their price target on Matador Resources from $88.00 to $89.00 and gave the company an “overweight” rating in a report on Monday, July 29th. Royal Bank of Canada reissued an “outperform” rating and set a $75.00 price objective on shares of Matador Resources in a report on Thursday, July 25th. Finally, Mizuho upped their target price on Matador Resources from $83.00 to $85.00 and gave the company a “buy” rating in a research note on Friday, June 14th. Two investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $78.17.

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.