KLP Kapitalforvaltning AS Makes New Investment in Matador Resources (NYSE:MTDR)

KLP Kapitalforvaltning AS purchased a new position in Matador Resources (NYSE:MTDR) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 24,300 shares of the energy company’s stock, valued at approximately $1,367,000.

A number of other hedge funds also recently modified their holdings of the business. TCTC Holdings LLC increased its stake in Matador Resources by 53.8% during the 4th quarter. TCTC Holdings LLC now owns 500 shares of the energy company’s stock worth $28,000 after purchasing an additional 175 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of Matador Resources by 108.5% in the fourth quarter. EverSource Wealth Advisors LLC now owns 492 shares of the energy company’s stock valued at $28,000 after buying an additional 256 shares during the period. MassMutual Private Wealth & Trust FSB increased its position in shares of Matador Resources by 68.3% during the fourth 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 in the last quarter. SRS Capital Advisors Inc. lifted its position in Matador Resources by 359.5% in the 4th quarter. SRS Capital Advisors Inc. now owns 579 shares of the energy company’s stock valued at $33,000 after acquiring an additional 453 shares in the last quarter. Finally, True Wealth Design LLC acquired a new position in Matador Resources in the 3rd quarter worth $37,000. Institutional investors and hedge funds own 91.98% of the company’s stock.

Insider Buying and Selling

In other news, CEO Joseph Wm Foran purchased 6,000 shares of Matador Resources stock in a transaction that occurred on Friday, February 21st. The stock was acquired at an average cost of $53.94 per share, for a total transaction of $323,640.00. Following the purchase, the chief executive officer now directly owns 39,379 shares of the company’s stock, valued at $2,124,103.26. This trade represents a 17.98 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Glenn W. Stetson acquired 1,000 shares of the firm’s stock in a transaction on Friday, February 21st. The stock was purchased at an average cost of $53.06 per share, for a total transaction of $53,060.00. Following the completion of the acquisition, the executive vice president now owns 91,680 shares in the company, valued at approximately $4,864,540.80. This represents a 1.10 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 21,350 shares of company stock valued at $1,100,769. Company insiders own 6.10% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on MTDR shares. Royal Bank of Canada restated an “outperform” rating and issued a $70.00 price target on shares of Matador Resources in a report on Wednesday, January 15th. Raymond James cut their target price on Matador Resources from $77.00 to $67.00 and set an “outperform” rating on the stock in a research note on Monday, March 10th. Morgan Stanley lowered their price objective on shares of Matador Resources from $84.00 to $68.00 and set an “equal weight” rating on the stock in a report on Thursday. Wolfe Research upgraded shares of Matador Resources from a “peer perform” rating to an “outperform” rating and set a $72.00 target price for the company in a report on Friday, January 3rd. Finally, Wells Fargo & Company decreased their target price on shares of Matador Resources from $90.00 to $87.00 and set an “overweight” rating for the company in a research report on Tuesday, March 25th. One research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $73.79.

Matador Resources Price Performance

Shares of NYSE MTDR opened at $50.46 on Friday. Matador Resources has a twelve month low of $43.89 and a twelve month high of $71.08. The company has a market cap of $6.32 billion, a PE ratio of 7.07 and a beta of 3.17. The business’s 50 day moving average price is $54.28 and its two-hundred day moving average price is $54.88. The company has a quick ratio of 0.84, a current ratio of 0.93 and a debt-to-equity ratio of 0.61.

Matador Resources (NYSE:MTDR) last posted its 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). Matador Resources had a return on equity of 18.52% and a net margin of 25.26%. The business had revenue of $970.37 million for the quarter, compared to analyst estimates of $967.10 million. On average, analysts predict that Matador Resources will post 8.53 EPS for the current year.

Matador Resources Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were paid a dividend of $0.3125 per share. This represents a $1.25 dividend on an annualized basis and a dividend yield of 2.48%. The ex-dividend date was Friday, February 28th. This is a boost from Matador Resources’s previous quarterly dividend of $0.25. Matador Resources’s dividend payout ratio (DPR) is currently 17.51%.

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.