Legacy Wealth Management LLC MS Trims Holdings in Matador Resources (NYSE:MTDR)

Legacy Wealth Management LLC MS lowered its holdings in Matador Resources (NYSE:MTDR) by 7.1% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 30,015 shares of the energy company’s stock after selling 2,305 shares during the quarter. Legacy Wealth Management LLC MS’s holdings in Matador Resources were worth $1,689,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Boston Trust Walden Corp purchased a new stake in Matador Resources in the third quarter worth $51,788,000. Yaupon Capital Management LP boosted its holdings in Matador Resources by 565.4% in the third quarter. Yaupon Capital Management LP now owns 744,037 shares of the energy company’s stock worth $36,770,000 after acquiring an additional 632,218 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Matador Resources by 8.1% in the second quarter. Dimensional Fund Advisors LP now owns 4,734,819 shares of the energy company’s stock worth $282,196,000 after acquiring an additional 356,506 shares during the last quarter. Los Angeles Capital Management LLC bought a new position in shares of Matador Resources during the second quarter valued at $18,747,000. Finally, FMR LLC boosted its stake in Matador Resources by 162.9% in the 3rd quarter. FMR LLC now owns 478,795 shares of the energy company’s stock worth $23,662,000 after purchasing an additional 296,663 shares in the last quarter. 91.98% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, EVP Glenn W. Stetson acquired 1,000 shares of Matador Resources stock in a transaction on Wednesday, October 30th. The shares were bought at an average cost of $51.33 per share, for a total transaction of $51,330.00. Following the acquisition, the executive vice president now directly owns 85,935 shares of the company’s stock, valued at $4,411,043.55. This trade represents a 1.18 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP William Thomas Elsener bought 800 shares of the firm’s stock in a transaction on Friday, December 13th. The shares were purchased at an average cost of $56.60 per share, with a total value of $45,280.00. Following the completion of the transaction, the executive vice president now owns 102,964 shares in the company, valued at $5,827,762.40. This represents a 0.78 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired a total of 4,285 shares of company stock worth $232,849 over the last quarter. Company insiders own 6.10% of the company’s stock.

Wall Street Analysts Forecast Growth

MTDR has been the subject 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 for the company in a report on Monday, December 16th. BMO Capital Markets upped their price objective on Matador Resources from $75.00 to $78.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. KeyCorp reduced their target price on Matador Resources from $76.00 to $72.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th. Benchmark reiterated a “buy” rating and issued a $62.00 price objective on shares of Matador Resources in a report on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. lowered their target price on shares of Matador Resources from $77.00 to $71.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 30th. One analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, Matador Resources presently has a consensus rating of “Moderate Buy” and an average target price of $74.21.

Matador Resources Trading Up 2.4 %

Shares of MTDR traded up $1.41 during midday trading on Monday, hitting $60.48. The stock had a trading volume of 86,558 shares, compared to its average volume of 685,651. Matador Resources has a 1 year low of $47.15 and a 1 year high of $71.08. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.88 and a quick ratio of 0.84. The stock’s 50 day moving average is $56.30 and its 200 day moving average is $55.94. The firm has a market cap of $7.55 billion, a PE ratio of 8.01 and a beta of 3.24.

Matador Resources (NYSE:MTDR) last announced its quarterly earnings data on Tuesday, October 22nd. The energy company reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.78 by $0.11. The business had revenue of $770.20 million during the quarter, compared to the consensus estimate of $836.69 million. Matador Resources had a net margin of 27.45% and a return on equity of 20.01%. The firm’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same quarter last year, the firm earned $1.86 earnings per share. As a group, analysts forecast that Matador Resources will post 7.49 EPS for the current fiscal year.

Matador Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Friday, November 15th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.65%. The ex-dividend date was Friday, November 15th. This is an increase from Matador Resources’s previous quarterly dividend of $0.20. Matador Resources’s dividend payout ratio is 13.25%.

Matador Resources 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.