Raymond James Financial Inc. Acquires New Holdings in Matador Resources (NYSE:MTDR)

Raymond James Financial Inc. acquired a new stake in shares of Matador Resources (NYSE:MTDR) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 400,093 shares of the energy company’s stock, valued at approximately $22,509,000. Raymond James Financial Inc. owned approximately 0.32% of Matador Resources at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Arizona State Retirement System boosted its position in Matador Resources by 0.8% during the fourth quarter. Arizona State Retirement System now owns 34,413 shares of the energy company’s stock valued at $1,936,000 after purchasing an additional 280 shares in the last quarter. Proficio Capital Partners LLC purchased a new stake in Matador Resources in the fourth quarter valued at about $5,085,000. M&T Bank Corp raised its stake in Matador Resources by 7.7% in the fourth quarter. M&T Bank Corp now owns 11,234 shares of the energy company’s stock valued at $632,000 after buying an additional 808 shares during the last quarter. Atria Investments Inc raised its stake in Matador Resources by 3.1% in the fourth quarter. Atria Investments Inc now owns 8,188 shares of the energy company’s stock valued at $461,000 after buying an additional 249 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Matador Resources by 3.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,491,570 shares of the energy company’s stock valued at $83,916,000 after buying an additional 56,644 shares during the last quarter. Institutional investors own 91.98% of the company’s stock.

Matador Resources Stock Up 3.6 %

Shares of MTDR stock opened at $48.61 on Friday. The stock has a 50 day moving average of $56.23 and a 200 day moving average of $55.01. The company has a current ratio of 0.93, a quick ratio of 0.84 and a debt-to-equity ratio of 0.61. The stock 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 twelve month low of $43.89 and a twelve month high of $71.08.

Matador Resources (NYSE:MTDR) last issued its quarterly earnings data on Tuesday, February 18th. The energy company reported $1.83 EPS for the quarter, missing the consensus estimate of $1.88 by ($0.05). Matador Resources had a net margin of 25.26% and a return on equity of 18.52%. The business had revenue of $970.37 million during the quarter, compared to analyst estimates of $967.10 million. As a group, sell-side 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. Shareholders of record on Friday, February 28th were issued a $0.3125 dividend. This is a positive change from Matador Resources’s previous quarterly dividend of $0.25. This represents a $1.25 annualized dividend and a yield of 2.57%. The ex-dividend date was Friday, February 28th. Matador Resources’s dividend payout ratio (DPR) is presently 17.51%.

Analyst Upgrades and Downgrades

A number of research firms have commented on MTDR. Stephens increased their price target on Matador Resources from $78.00 to $80.00 and gave the company an “overweight” rating in a research note on Friday, December 6th. Morgan Stanley began coverage on Matador Resources in a research note on Friday, January 10th. They issued an “equal weight” rating and a $78.00 price target for the company. Truist Financial increased their price target on Matador Resources from $75.00 to $80.00 and gave the company a “buy” rating in a research note on Monday, January 13th. JPMorgan Chase & Co. reduced their price objective on Matador Resources from $76.00 to $65.00 and set an “overweight” rating for the company in a research note on Thursday. Finally, Wolfe Research upgraded Matador Resources from a “peer perform” rating to an “outperform” rating and set a $72.00 price objective for the company in a research note on Friday, January 3rd. One research analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $74.20.

Insider Buying and Selling at Matador Resources

In other Matador Resources news, Director Paul W. Harvey acquired 600 shares of the company’s stock in a transaction on Friday, February 21st. The shares were bought at an average cost of $55.20 per share, with a total value of $33,120.00. Following the completion of the acquisition, the director now owns 27,917 shares in the company, valued at approximately $1,541,018.40. This trade represents a 2.20 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Timothy E. Parker acquired 2,000 shares of the company’s stock in a transaction on Wednesday, March 5th. The stock was acquired at an average cost of $44.67 per share, for a total transaction of $89,340.00. Following the completion of the acquisition, the director now owns 83,790 shares of the company’s stock, valued at $3,742,899.30. This trade represents a 2.45 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 20,850 shares of company stock valued at $1,077,024. Company insiders own 6.10% of the company’s stock.

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.