American Century Companies Inc. Grows Stake in Matador Resources (NYSE:MTDR)

American Century Companies Inc. grew its stake in shares of Matador Resources (NYSE:MTDR) by 3.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 607,356 shares of the energy company’s stock after acquiring an additional 21,466 shares during the quarter. American Century Companies Inc. owned about 0.49% of Matador Resources worth $34,170,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Geode Capital Management LLC increased its stake in Matador Resources by 1.9% during the 3rd quarter. Geode Capital Management LLC now owns 2,008,730 shares of the energy company’s stock valued at $99,297,000 after purchasing an additional 36,921 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Matador Resources by 3.9% during 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 acquiring an additional 56,644 shares in the last quarter. Wasatch Advisors LP raised its holdings in Matador Resources by 4.3% in the 3rd quarter. Wasatch Advisors LP now owns 1,287,587 shares of the energy company’s stock worth $63,633,000 after acquiring an additional 52,498 shares during the last quarter. Thrivent Financial for Lutherans lifted its position in Matador Resources by 30.7% in the 4th quarter. Thrivent Financial for Lutherans now owns 1,286,444 shares of the energy company’s stock valued at $72,375,000 after acquiring an additional 302,221 shares in the last quarter. Finally, Copeland Capital Management LLC boosted its stake in Matador Resources by 145.2% during the 4th quarter. Copeland Capital Management LLC now owns 1,283,743 shares of the energy company’s stock valued at $72,223,000 after purchasing an additional 760,122 shares during the last quarter. Hedge funds and other institutional investors own 91.98% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Benchmark reaffirmed a “buy” rating and set a $62.00 price target on shares of Matador Resources in a report on Friday, January 17th. Truist Financial upped their target price on shares of Matador Resources from $75.00 to $80.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Wolfe Research upgraded shares of Matador Resources from a “peer perform” rating to an “outperform” rating and set a $72.00 price target for the company in a research note on Friday, January 3rd. 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 research report on Thursday. Finally, 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. One investment analyst has rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, Matador Resources currently has a consensus rating of “Moderate Buy” and a consensus target price of $73.79.

Matador Resources Price Performance

NYSE MTDR opened at $50.46 on Friday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.84 and a current ratio of 0.93. The business’s fifty day moving average is $54.28 and its 200 day moving average is $54.84. The company has a market capitalization of $6.32 billion, a PE ratio of 7.07 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.

Matador Resources (NYSE:MTDR) last posted its quarterly earnings data 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 net margin of 25.26% and a return on equity of 18.52%. The company had revenue of $970.37 million for the quarter, compared to analysts’ expectations of $967.10 million. Sell-side analysts predict that Matador Resources will post 8.53 earnings per share for the current year.

Matador Resources Increases Dividend

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

Insider Activity at Matador Resources

In other Matador Resources news, CEO Joseph Wm Foran bought 6,000 shares of the business’s stock in a transaction that occurred on Friday, February 21st. The stock was purchased at an average price of $53.94 per share, for a total transaction of $323,640.00. Following the completion of the transaction, the chief executive officer now 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 document filed with the SEC, which is available through this hyperlink. Also, Director Paul W. Harvey purchased 600 shares of the stock in a transaction that occurred on Friday, February 21st. The stock was acquired at an average cost of $55.20 per share, for a total transaction of $33,120.00. Following the completion of the acquisition, the director now owns 27,917 shares in the company, valued at $1,541,018.40. This represents a 2.20 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 21,350 shares of company stock worth $1,100,769. 6.10% of the stock is owned by corporate insiders.

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.