Verdence Capital Advisors LLC Has $356,000 Holdings in Matador Resources (NYSE:MTDR)

Verdence Capital Advisors LLC lessened its stake in shares of Matador Resources (NYSE:MTDR) by 11.5% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,326 shares of the energy company’s stock after selling 823 shares during the quarter. Verdence Capital Advisors LLC’s holdings in Matador Resources were worth $356,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. MassMutual Private Wealth & Trust FSB raised its holdings in Matador Resources by 68.3% in the 4th 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. grew its position in shares of Matador Resources by 359.5% in the fourth quarter. SRS Capital Advisors Inc. now owns 579 shares of the energy company’s stock valued at $33,000 after purchasing an additional 453 shares during the last quarter. True Wealth Design LLC bought a new position in shares of Matador Resources in the third quarter worth about $37,000. Denver PWM LLC lifted its position 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 during the last quarter. Finally, Avior Wealth Management LLC boosted its stake in Matador Resources by 329.0% during the 3rd quarter. Avior Wealth Management LLC now owns 828 shares of the energy company’s stock valued at $41,000 after purchasing an additional 635 shares during the period. Institutional investors and hedge funds own 91.98% of the company’s stock.

Matador Resources Stock Up 1.1 %

Shares of MTDR opened at $45.27 on Friday. The company has a quick ratio of 0.84, a current ratio of 0.93 and a debt-to-equity ratio of 0.61. The company has a 50-day moving average price of $57.39 and a two-hundred day moving average price of $55.43. The stock has a market cap of $5.67 billion, a price-to-earnings ratio of 6.34 and a beta of 3.22. Matador Resources has a 12 month low of $43.89 and a 12 month high of $71.08.

Matador Resources (NYSE:MTDR) last posted its earnings results on Tuesday, February 18th. The energy company reported $1.83 EPS for the quarter, missing the consensus estimate of $1.88 by ($0.05). The company had revenue of $970.37 million for 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 analysts predict that Matador Resources will post 8.53 EPS for the current fiscal 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 issued a dividend of $0.3125 per share. The ex-dividend date of this dividend is Friday, February 28th. This is a boost from Matador Resources’s previous quarterly dividend of $0.25. This represents a $1.25 dividend on an annualized basis and a dividend yield of 2.76%. Matador Resources’s dividend payout ratio (DPR) is presently 17.51%.

Insider Activity

In other news, CEO Joseph Wm Foran acquired 6,000 shares of the company’s stock in a transaction dated Friday, February 21st. The stock was bought at an average price of $53.94 per share, with a total value of $323,640.00. Following the completion of the acquisition, the chief executive officer now owns 39,379 shares in the company, valued at approximately $2,124,103.26. This represents a 17.98 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP William Thomas Elsener bought 800 shares of Matador Resources stock in a transaction dated Friday, December 13th. The stock was acquired at an average cost of $56.60 per share, for a total transaction of $45,280.00. Following the completion of the acquisition, the executive vice president now directly 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. In the last quarter, insiders have bought 21,530 shares of company stock worth $1,119,092. Corporate insiders own 6.10% of the company’s stock.

Wall Street Analysts Forecast Growth

MTDR has been the topic of several recent analyst reports. Truist Financial lifted their price target on Matador Resources from $75.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Morgan Stanley assumed coverage on shares of Matador Resources in a research report on Friday, January 10th. They set an “equal weight” rating and a $78.00 target price on the stock. TD Cowen increased their price target on shares of Matador Resources from $74.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Wells Fargo & Company raised their price target on shares of Matador Resources from $87.00 to $91.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $70.00 price objective on shares of Matador Resources in a research report on Wednesday, January 15th. One equities research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, Matador Resources currently has a consensus rating of “Moderate Buy” and a consensus target price of $75.14.

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.