Fisher Asset Management LLC Sells 20,861 Shares of Matador Resources (NYSE:MTDR)

Fisher Asset Management LLC cut its holdings in Matador Resources (NYSE:MTDR) by 3.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 558,779 shares of the energy company’s stock after selling 20,861 shares during the period. Fisher Asset Management LLC owned 0.47% of Matador Resources worth $31,772,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. William Blair Investment Management LLC bought a new position in Matador Resources in the 3rd quarter worth $33,720,000. First Dallas Securities Inc. raised its stake in shares of Matador Resources by 4,501.7% in the third quarter. First Dallas Securities Inc. now owns 387,003 shares of the energy company’s stock worth $23,019,000 after buying an additional 378,593 shares during the period. Victory Capital Management Inc. lifted its position in shares of Matador Resources by 13.0% during the 3rd quarter. Victory Capital Management Inc. now owns 3,228,290 shares of the energy company’s stock valued at $192,019,000 after buying an additional 372,528 shares in the last quarter. Vaughan Nelson Investment Management L.P. bought a new position in shares of Matador Resources during the 3rd quarter valued at approximately $19,471,000. Finally, Wellington Management Group LLP increased its holdings in Matador Resources by 68.7% in the 3rd quarter. Wellington Management Group LLP now owns 735,769 shares of the energy company’s stock worth $43,764,000 after acquiring an additional 299,708 shares in the last quarter. Hedge funds and other institutional investors own 91.98% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on MTDR shares. Wells Fargo & Company lifted their price target on shares of Matador Resources from $76.00 to $85.00 and gave the company an “overweight” rating in a report on Thursday, April 18th. Benchmark cut their price target on Matador Resources from $71.00 to $62.00 and set a “buy” rating for the company in a research note on Tuesday, April 23rd. Mizuho boosted their price objective on Matador Resources from $76.00 to $78.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Roth Mkm reaffirmed a “buy” rating and issued a $66.00 price objective on shares of Matador Resources in a research note on Monday, March 25th. Finally, JPMorgan Chase & Co. lifted their target price on Matador Resources from $76.00 to $77.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, Matador Resources presently has an average rating of “Moderate Buy” and an average price target of $74.30.

Matador Resources Stock Performance

NYSE:MTDR opened at $63.28 on Friday. The company has a market cap of $7.90 billion, a price-to-earnings ratio of 8.67 and a beta of 3.33. Matador Resources has a 1 year low of $42.04 and a 1 year high of $71.08. The stock’s 50 day simple moving average is $65.80 and its two-hundred day simple moving average is $60.26. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.89 and a quick ratio of 0.84.

Matador Resources (NYSE:MTDR) last announced its quarterly earnings results on Tuesday, April 23rd. The energy company reported $1.71 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.32. Matador Resources had a net margin of 28.89% and a return on equity of 20.62%. The company had revenue of $787.70 million for the quarter, compared to analysts’ expectations of $740.99 million. During the same quarter in the previous year, the business posted $1.50 earnings per share. Matador Resources’s quarterly revenue was up 40.6% on a year-over-year basis. As a group, equities analysts anticipate that Matador Resources will post 7.57 earnings per share for the current fiscal year.

Matador Resources Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 17th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.26%. The ex-dividend date of this dividend is Thursday, May 16th. Matador Resources’s dividend payout ratio is 10.96%.

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.