Legacy Wealth Management LLC MS Sells 2,305 Shares of Matador Resources (NYSE:MTDR)

Legacy Wealth Management LLC MS lessened its stake in Matador Resources (NYSE:MTDR) by 7.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. 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 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. True Wealth Design LLC purchased a new position in Matador Resources in the third quarter valued at $37,000. Denver PWM LLC raised its position in shares of Matador Resources by 67.2% in the third quarter. Denver PWM LLC now owns 754 shares of the energy company’s stock valued at $37,000 after buying an additional 303 shares during the last quarter. Avior Wealth Management LLC lifted its stake in shares of Matador Resources by 329.0% in the third quarter. Avior Wealth Management LLC now owns 828 shares of the energy company’s stock worth $41,000 after buying an additional 635 shares in the last quarter. Quarry LP boosted its position in Matador Resources by 47.5% during the second quarter. Quarry LP now owns 779 shares of the energy company’s stock worth $46,000 after acquiring an additional 251 shares during the last quarter. Finally, Covestor Ltd grew its stake in Matador Resources by 154.8% during the 3rd quarter. Covestor Ltd now owns 1,060 shares of the energy company’s stock valued at $52,000 after acquiring an additional 644 shares in the last quarter. Hedge funds and other institutional investors own 91.98% of the company’s stock.

Insider Buying and Selling

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

Analyst Upgrades and Downgrades

MTDR has been the subject of a number of analyst reports. Wells Fargo & Company upped their price target on Matador Resources from $87.00 to $91.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. JPMorgan Chase & Co. dropped their target price on Matador Resources from $77.00 to $71.00 and set an “overweight” rating for the company in a report on Wednesday, October 30th. Mizuho reduced their price target on Matador Resources from $74.00 to $73.00 and set an “outperform” rating on the stock in a report on Monday, December 16th. TD Cowen upped their price objective 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. Finally, BMO Capital Markets boosted their price target on shares of Matador Resources from $75.00 to $78.00 and gave the company an “outperform” rating in a research note on Friday, October 4th. One analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $74.21.

Matador Resources Stock Up 2.4 %

Shares of NYSE:MTDR traded up $1.41 during trading on Monday, hitting $60.48. The company’s stock had a trading volume of 86,558 shares, compared to its average volume of 685,651. Matador Resources has a fifty-two week low of $47.15 and a fifty-two week high of $71.08. The company has a market capitalization of $7.55 billion, a PE ratio of 8.01 and a beta of 3.24. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.84 and a current ratio of 0.88. The business has a 50 day moving average price of $56.30 and a two-hundred day moving average price of $55.94.

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

Matador Resources Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Friday, November 15th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.65%. This is a positive change from Matador Resources’s previous quarterly dividend of $0.20. The ex-dividend date was Friday, November 15th. Matador Resources’s 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.