Proficio Capital Partners LLC Takes $5.09 Million Position in Matador Resources (NYSE:MTDR)

Proficio Capital Partners LLC acquired a new position in shares of Matador Resources (NYSE:MTDR) during the fourth quarter, HoldingsChannel reports. The fund acquired 90,389 shares of the energy company’s stock, valued at approximately $5,085,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Franklin Resources Inc. boosted its holdings in Matador Resources by 12.0% during the third quarter. Franklin Resources Inc. now owns 1,008,421 shares of the energy company’s stock worth $54,122,000 after buying an additional 107,827 shares in the last quarter. Loomis Sayles & Co. L P boosted its holdings in Matador Resources by 16.8% during the third quarter. Loomis Sayles & Co. L P now owns 455,662 shares of the energy company’s stock worth $22,519,000 after buying an additional 65,487 shares in the last quarter. Stifel Financial Corp boosted its holdings in Matador Resources by 81.2% during the third quarter. Stifel Financial Corp now owns 30,304 shares of the energy company’s stock worth $1,498,000 after buying an additional 13,583 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in Matador Resources by 16.9% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 139,254 shares of the energy company’s stock worth $8,088,000 after buying an additional 20,172 shares in the last quarter. Finally, HITE Hedge Asset Management LLC purchased a new stake in Matador Resources during the third quarter worth about $10,526,000. Hedge funds and other institutional investors own 91.98% of the company’s stock.

Analyst Upgrades and Downgrades

MTDR has been the subject of a number of research reports. Royal Bank of Canada restated an “outperform” rating and set a $70.00 target price on shares of Matador Resources in a research report on Wednesday, January 15th. Mizuho cut their target price on shares of Matador Resources from $74.00 to $73.00 and set an “outperform” rating for the company in a research report on Monday, December 16th. Truist Financial lifted their target price on shares of Matador Resources from $75.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. TD Cowen lifted their target price on shares of Matador Resources from $74.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Finally, Stephens lifted their target price on shares of Matador Resources from $78.00 to $80.00 and gave the stock an “overweight” rating in a research report on Friday, December 6th. One investment analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $74.20.

Insider Transactions at Matador Resources

In other Matador Resources news, COO Christopher P. Calvert acquired 1,300 shares of the company’s stock in a transaction dated Friday, February 21st. The stock was bought at an average price of $55.17 per share, with a total value of $71,721.00. Following the completion of the transaction, the chief operating officer now directly owns 34,000 shares of the company’s stock, valued at approximately $1,875,780. The trade was a 3.98 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Joseph Wm Foran purchased 6,000 shares of the stock in a transaction that occurred on Friday, February 21st. The shares were purchased at an average cost 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 disclosure for this purchase can be found here. Insiders acquired 20,850 shares of company stock valued at $1,077,024 over the last 90 days. Corporate insiders own 6.10% of the company’s stock.

Matador Resources Stock Performance

NYSE:MTDR opened at $48.61 on Monday. 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 market cap of $6.09 billion, a P/E ratio of 6.81 and a beta of 3.17. Matador Resources has a fifty-two week low of $43.89 and a fifty-two week high of $71.08. The firm’s 50 day moving average is $56.23 and its two-hundred day moving average is $54.99.

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

Matador Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were given a $0.3125 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $1.25 annualized dividend and a dividend yield of 2.57%. This is a positive change from Matador Resources’s previous quarterly dividend of $0.25. Matador Resources’s dividend payout ratio is presently 17.51%.

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.