Centiva Capital LP Trims Holdings in Matador Resources (NYSE:MTDR)

Centiva Capital LP lowered its holdings in Matador Resources (NYSE:MTDR) by 85.0% during the fourth quarter, Holdings Channel.com reports. The firm owned 6,831 shares of the energy company’s stock after selling 38,840 shares during the period. Centiva Capital LP’s holdings in Matador Resources were worth $384,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MTDR. LSV Asset Management raised its position in Matador Resources by 262.0% in the fourth quarter. LSV Asset Management now owns 1,517,308 shares of the energy company’s stock valued at $85,364,000 after purchasing an additional 1,098,108 shares during the period. Copeland Capital Management LLC raised its position in Matador Resources by 145.2% in the fourth 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 period. Webs Creek Capital Management LP purchased a new stake in Matador Resources in the fourth quarter valued at $37,894,000. Alliancebernstein L.P. raised its position in Matador Resources by 25.9% in the fourth quarter. Alliancebernstein L.P. now owns 2,698,606 shares of the energy company’s stock valued at $151,824,000 after purchasing an additional 555,245 shares during the period. Finally, Raymond James Financial Inc. purchased a new stake in Matador Resources in the fourth quarter valued at $22,509,000. Hedge funds and other institutional investors own 91.98% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Wells Fargo & Company reduced their target price on Matador Resources from $86.00 to $80.00 and set an “overweight” rating on the stock in a research report on Monday, April 28th. KeyCorp reduced their target price on Matador Resources from $72.00 to $60.00 and set an “overweight” rating on the stock in a research report on Monday, April 21st. JPMorgan Chase & Co. dropped their price objective on Matador Resources from $65.00 to $61.00 and set an “overweight” rating for the company in a research note on Thursday, April 10th. Benchmark reaffirmed a “buy” rating and issued a $62.00 price objective on shares of Matador Resources in a research note on Friday, January 17th. Finally, Raymond James dropped their price objective on Matador Resources from $77.00 to $67.00 and set an “outperform” rating for the company in a research note on Monday, March 10th. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $70.33.

Matador Resources Trading Up 0.1%

MTDR opened at $42.73 on Monday. Matador Resources has a 12 month low of $35.19 and a 12 month high of $66.89. The stock has a market capitalization of $5.35 billion, a price-to-earnings ratio of 5.98 and a beta of 1.47. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.93 and a quick ratio of 0.84. The business has a fifty day moving average price of $44.28 and a 200 day moving average price of $52.59.

Matador Resources (NYSE:MTDR) last released its earnings results on Wednesday, April 23rd. The energy company reported $1.99 EPS for the quarter, topping the consensus estimate of $1.74 by $0.25. Matador Resources had a return on equity of 18.52% and a net margin of 25.26%. The firm had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $980.87 million. During the same period in the previous year, the firm posted $1.71 EPS. Matador Resources’s revenue for the quarter was up 28.7% on a year-over-year basis. Sell-side analysts expect that Matador Resources will post 8.53 earnings per share for the current fiscal year.

Matador Resources Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 9th will be paid a dividend of $0.3125 per share. The ex-dividend date of this dividend is Friday, May 9th. This represents a $1.25 annualized dividend and a yield of 2.93%. Matador Resources’s payout ratio is 16.78%.

Matador Resources announced that its Board of Directors has initiated a share buyback program on Wednesday, April 23rd that allows the company to buyback $400.00 million in shares. This buyback authorization allows the energy company to purchase up to 7.8% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling

In related news, CEO Joseph Wm Foran bought 2,500 shares of the stock in a transaction that occurred on Wednesday, May 7th. The stock was purchased at an average cost of $39.63 per share, with a total value of $99,075.00. Following the purchase, the chief executive officer now directly owns 60,756 shares of the company’s stock, valued at $2,407,760.28. This trade represents a 4.29% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Paul W. Harvey purchased 600 shares of the firm’s stock in a transaction on Friday, February 21st. The shares were acquired 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 directly owns 27,917 shares in the company, valued at $1,541,018.40. The trade was a 2.20% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased 36,200 shares of company stock valued at $1,701,872 in the last three months. 6.10% of the stock is owned by corporate insiders.

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.