Prudential PLC Sells 1,835 Shares of Matador Resources (NYSE:MTDR)

Posted by Defense World Staff on May 17th, 2023

Prudential PLC lowered its stake in shares of Matador Resources (NYSE:MTDR – Get Rating) by 11.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 14,672 shares of the energy company’s stock after selling 1,835 shares during the period. Prudential PLC’s holdings in Matador Resources were worth $840,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Belpointe Asset Management LLC purchased a new stake in shares of Matador Resources during the fourth quarter worth $57,000. EverSource Wealth Advisors LLC lifted its position in shares of Matador Resources by 144.6% during the third quarter. EverSource Wealth Advisors LLC now owns 1,118 shares of the energy company’s stock worth $55,000 after acquiring an additional 661 shares in the last quarter. FourThought Financial LLC lifted its position in shares of Matador Resources by 79.3% during the third quarter. FourThought Financial LLC now owns 1,133 shares of the energy company’s stock worth $55,000 after acquiring an additional 501 shares in the last quarter. MADDEN SECURITIES Corp purchased a new stake in shares of Matador Resources during the fourth quarter worth $92,000. Finally, Signaturefd LLC lifted its position in shares of Matador Resources by 22.7% during the third quarter. Signaturefd LLC now owns 2,038 shares of the energy company’s stock worth $100,000 after acquiring an additional 377 shares in the last quarter. Hedge funds and other institutional investors own 87.00% of the company’s stock.

Insider Activity

In other Matador Resources news, CEO Joseph Wm Foran bought 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 15th. The shares were bought at an average cost of $44.75 per share, with a total value of $89,500.00. Following the completion of the purchase, the chief executive officer now directly owns 173,468 shares of the company’s stock, valued at $7,762,693. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Matador Resources news, Director Timothy E. Parker bought 4,500 shares of the stock in a transaction dated Thursday, March 16th. The stock was purchased at an average cost of $43.52 per share, for a total transaction of $195,840.00. Following the completion of the acquisition, the director now owns 71,636 shares of the company’s stock, valued at $3,117,598.72. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Joseph Wm Foran bought 2,000 shares of the stock in a transaction dated Wednesday, March 15th. The shares were acquired at an average price of $44.75 per share, with a total value of $89,500.00. Following the completion of the acquisition, the chief executive officer now directly owns 173,468 shares of the company’s stock, valued at approximately $7,762,693. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 12,300 shares of company stock valued at $549,835. 5.60% of the stock is currently owned by insiders.

Analysts Set New Price Targets

MTDR has been the topic of a number of recent analyst reports. Raymond James increased their price objective on Matador Resources from $57.00 to $61.00 and gave the stock an “outperform” rating in a research report on Friday, April 21st. JPMorgan Chase & Co. increased their price objective on Matador Resources from $73.00 to $74.00 and gave the stock an “overweight” rating in a research report on Friday, April 14th. Cowen increased their price objective on Matador Resources from $67.00 to $78.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 25th. Royal Bank of Canada reiterated an “outperform” rating and issued a $78.00 price objective on shares of Matador Resources in a research report on Thursday, February 23rd. Finally, Truist Financial increased their price objective on Matador Resources from $68.00 to $72.00 and gave the stock a “buy” rating in a research report on Tuesday, April 11th. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, Matador Resources presently has an average rating of “Moderate Buy” and a consensus price target of $70.56.

Matador Resources Stock Down 3.9 %

MTDR opened at $42.60 on Wednesday. The stock has a market cap of $5.08 billion, a PE ratio of 4.36 and a beta of 3.54. The company has a quick ratio of 1.64, a current ratio of 1.67 and a debt-to-equity ratio of 0.34. Matador Resources has a 52 week low of $41.17 and a 52 week high of $73.78. The business’s fifty day simple moving average is $47.92 and its 200 day simple moving average is $56.66.

Matador Resources (NYSE:MTDR – Get Rating) last announced its quarterly earnings data on Tuesday, April 25th. The energy company reported $1.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.24 by $0.26. Matador Resources had a return on equity of 37.11% and a net margin of 38.33%. The firm had revenue of $502.90 million for the quarter, compared to analysts’ expectations of $514.24 million. During the same period last year, the firm earned $2.32 earnings per share. The company’s revenue for the quarter was down 19.7% compared to the same quarter last year. As a group, research analysts expect that Matador Resources will post 6.98 earnings per share for the current fiscal year.

Matador Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 1st. Stockholders of record on Thursday, May 11th will be paid a dividend of $0.15 per share. The ex-dividend date is Wednesday, May 10th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.41%. Matador Resources’s dividend payout ratio (DPR) is currently 6.15%.

Matador Resources Profile

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Matador Resources Co is a holding company, which engages in the exploration, development, production, and acquisition of oil and natural gas resources. It operates through the following segments: Exploration and Production, Midstream, and Corporate. The Exploration and Production segment focuses on the exploration, development, production, and acquisition of oil and liquids-rich portion of the Wolfcamp and Bone Spring.