Russell Investments Group Ltd. Trims Stock Position in Matador Resources (NYSE:MTDR)

Russell Investments Group Ltd. cut its holdings in shares of Matador Resources (NYSE:MTDR) by 35.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 98,798 shares of the energy company’s stock after selling 54,333 shares during the period. Russell Investments Group Ltd. owned 0.08% of Matador Resources worth $5,618,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of MTDR. William Blair Investment Management LLC acquired a new position in Matador Resources during the third quarter worth $33,720,000. First Dallas Securities Inc. lifted 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 valued at $23,019,000 after purchasing an additional 378,593 shares during the period. Victory Capital Management Inc. boosted its holdings in Matador Resources by 13.0% during the third quarter. Victory Capital Management Inc. now owns 3,228,290 shares of the energy company’s stock worth $192,019,000 after buying an additional 372,528 shares in the last quarter. Vaughan Nelson Investment Management L.P. acquired a new position in Matador Resources during the third quarter worth about $19,471,000. Finally, Wellington Management Group LLP grew its holdings in shares of 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 during the period. Hedge funds and other institutional investors own 91.98% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on MTDR. Royal Bank of Canada reissued an “outperform” rating and issued a $70.00 target price on shares of Matador Resources in a report on Tuesday, March 5th. TD Cowen upped their target price on Matador Resources from $64.00 to $72.00 and gave the company an “outperform” rating in a research note on Monday, March 4th. Mizuho boosted their price target on Matador Resources from $76.00 to $78.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Wells Fargo & Company increased their price objective on Matador Resources from $76.00 to $85.00 and gave the company an “overweight” rating in a research note on Thursday, April 18th. Finally, Benchmark cut their target price on shares of Matador Resources from $71.00 to $62.00 and set a “buy” rating for the company in a research note on Tuesday, April 23rd. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, Matador Resources currently has a consensus rating of “Moderate Buy” and a consensus target price of $74.30.

Matador Resources Price Performance

Shares of NYSE MTDR opened at $65.00 on Friday. The company has a market capitalization of $8.11 billion, a price-to-earnings ratio of 8.90 and a beta of 3.33. 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 has a 1-year low of $42.15 and a 1-year high of $71.08. The business has a 50-day moving average of $65.97 and a 200-day moving average of $60.26.

Matador Resources (NYSE:MTDR) last posted its quarterly earnings data on Tuesday, April 23rd. The energy company reported $1.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.39 by $0.32. The company had revenue of $787.70 million for the quarter, compared to analyst estimates of $740.99 million. Matador Resources had a net margin of 28.89% and a return on equity of 20.62%. The business’s quarterly revenue was up 40.6% on a year-over-year basis. During the same quarter last year, the firm posted $1.50 earnings per share. On average, equities analysts anticipate that Matador Resources will post 7.57 EPS 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 paid a dividend of $0.20 per share. The ex-dividend date is Thursday, May 16th. This represents a $0.80 annualized dividend and a dividend yield of 1.23%. Matador Resources’s dividend payout ratio is presently 10.96%.

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.