Silvercrest Asset Management Group LLC Has $120.15 Million Holdings in Matador Resources (NYSE:MTDR)

Silvercrest Asset Management Group LLC decreased its holdings in Matador Resources (NYSE:MTDR) by 9.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,135,533 shares of the energy company’s stock after selling 210,316 shares during the quarter. Matador Resources accounts for about 0.8% of Silvercrest Asset Management Group LLC’s portfolio, making the stock its 19th largest holding. Silvercrest Asset Management Group LLC’s holdings in Matador Resources were worth $120,145,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Altshuler Shaham Ltd bought a new stake in shares of Matador Resources in the fourth quarter valued at approximately $25,000. 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 acquiring an additional 175 shares during the period. EverSource Wealth Advisors LLC raised its holdings in Matador Resources by 108.5% in the 4th quarter. EverSource Wealth Advisors LLC now owns 492 shares of the energy company’s stock valued at $28,000 after acquiring an additional 256 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its holdings in Matador Resources by 68.3% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 510 shares of the energy company’s stock valued at $29,000 after acquiring an additional 207 shares in the last quarter. Finally, SRS Capital Advisors Inc. raised its holdings 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. Institutional investors and hedge funds own 91.98% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on MTDR. Morgan Stanley cut their price objective on shares of Matador Resources from $84.00 to $68.00 and set an “equal weight” rating for the company in a research report on Thursday, March 27th. Stephens cut their price target on shares of Matador Resources from $90.00 to $86.00 and set an “overweight” rating for the company in a report on Tuesday, April 15th. Mizuho decreased their price objective on shares of Matador Resources from $74.00 to $73.00 and set an “outperform” rating on the stock in a research note on Tuesday. Benchmark restated a “buy” rating and set a $62.00 price objective on shares of Matador Resources in a research report on Friday, January 17th. Finally, UBS Group started coverage on Matador Resources in a research note on Tuesday, April 22nd. They issued a “neutral” rating and a $47.00 price target on the stock. Two analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Matador Resources currently has an average rating of “Moderate Buy” and a consensus price target of $70.33.

Insider Activity

In other Matador Resources news, insider Van H. Singleton II acquired 1,000 shares of the stock in a transaction dated Thursday, May 1st. The stock was purchased at an average cost of $40.72 per share, with a total value of $40,720.00. Following the transaction, the insider now owns 291,135 shares in the company, valued at approximately $11,855,017.20. The trade was a 0.34% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Joseph Wm Foran acquired 6,000 shares of the company’s stock in a transaction dated 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 completion of the purchase, the chief executive officer now directly owns 39,379 shares in the company, valued at $2,124,103.26. This trade represents a 17.98% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have bought 36,200 shares of company stock valued at $1,701,872. 6.10% of the stock is currently owned by insiders.

Matador Resources Trading Down 3.2%

NYSE MTDR opened at $44.42 on Friday. The firm has a market capitalization of $5.56 billion, a PE ratio of 6.22 and a beta of 1.47. The business’s 50-day moving average price is $44.29 and its two-hundred day moving average price is $52.41. The company has a current ratio of 0.93, a quick ratio of 0.84 and a debt-to-equity ratio of 0.61. Matador Resources has a 12 month low of $35.19 and a 12 month high of $66.89.

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

Matador Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 9th will be paid a $0.3125 dividend. This represents a $1.25 dividend on an annualized basis and a dividend yield of 2.81%. The ex-dividend date is Friday, May 9th. Matador Resources’s dividend payout ratio is currently 16.78%.

Matador Resources declared that its Board of Directors has initiated a stock buyback plan on Wednesday, April 23rd that allows the company to repurchase $400.00 million in outstanding shares. This repurchase authorization allows the energy company to repurchase up to 7.8% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

Matador Resources Company 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.