Victory Capital Management Inc. Sells 121,875 Shares of Matador Resources (NYSE:MTDR)

Victory Capital Management Inc. lowered its stake in shares of Matador Resources (NYSE:MTDR) by 4.4% in the fourth quarter, Holdings Channel reports. The firm owned 2,630,227 shares of the energy company’s stock after selling 121,875 shares during the period. Victory Capital Management Inc.’s holdings in Matador Resources were worth $147,977,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the stock. MassMutual Private Wealth & Trust FSB boosted its position in 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 purchasing an additional 207 shares during the period. ClearAlpha Technologies LP boosted its position in Matador Resources by 4.3% during the third quarter. ClearAlpha Technologies LP now owns 5,250 shares of the energy company’s stock worth $259,000 after purchasing an additional 218 shares during the period. Denver PWM LLC boosted its position in Matador Resources by 67.2% during the third quarter. Denver PWM LLC now owns 754 shares of the energy company’s stock worth $37,000 after purchasing an additional 303 shares during the period. Coldstream Capital Management Inc. boosted its position in Matador Resources by 6.5% during the third quarter. Coldstream Capital Management Inc. now owns 5,081 shares of the energy company’s stock worth $252,000 after purchasing an additional 310 shares during the period. Finally, Lindenwold Advisors INC boosted its position in Matador Resources by 5.1% during the third quarter. Lindenwold Advisors INC now owns 6,650 shares of the energy company’s stock worth $329,000 after purchasing an additional 321 shares during the period. Institutional investors own 91.98% of the company’s stock.

Matador Resources Stock Performance

Shares of NYSE MTDR opened at $45.84 on Thursday. The business has a fifty day simple moving average of $57.74 and a 200 day simple moving average of $55.57. The company has a current ratio of 0.93, a quick ratio of 0.84 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $5.74 billion, a price-to-earnings ratio of 6.42 and a beta of 3.22. Matador Resources has a one year low of $43.89 and a one year high of $71.08.

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

Matador Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be paid a dividend of $0.3125 per share. This is a positive change from Matador Resources’s previous quarterly dividend of $0.25. This represents a $1.25 annualized dividend and a yield of 2.73%. The ex-dividend date of this dividend is Friday, February 28th. Matador Resources’s dividend payout ratio is currently 17.51%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on MTDR. Mizuho decreased their target price on Matador Resources from $74.00 to $73.00 and set an “outperform” rating for the company in a research report on Monday, December 16th. TD Cowen upped their price target on Matador Resources from $74.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Stephens upped their price target on Matador Resources from $78.00 to $80.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. Morgan Stanley initiated coverage on Matador Resources in a report on Friday, January 10th. They set an “equal weight” rating and a $78.00 price target for the company. Finally, Wells Fargo & Company upped their price target on Matador Resources from $87.00 to $91.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. One equities research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $75.14.

Insiders Place Their Bets

In related news, EVP William Thomas Elsener acquired 800 shares of the company’s stock in a transaction on Friday, December 13th. The stock was purchased at an average cost of $56.60 per share, for a total transaction of $45,280.00. Following the completion of the purchase, the executive vice president now directly owns 102,964 shares of the company’s stock, valued at $5,827,762.40. The trade was a 0.78 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Van H. Singleton II acquired 2,000 shares of the company’s stock in a transaction on Friday, February 21st. The shares were bought at an average price of $53.21 per share, with a total value of $106,420.00. Following the completion of the purchase, the insider now directly owns 289,135 shares of the company’s stock, valued at approximately $15,384,873.35. This represents a 0.70 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased 20,330 shares of company stock worth $1,082,536 over the last three months. 6.10% of the stock is currently owned by corporate insiders.

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.