Congress Asset Management Co. MA Decreases Holdings in Matador Resources (NYSE:MTDR)

Congress Asset Management Co. MA lessened its stake in Matador Resources (NYSE:MTDR) by 1.8% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 108,040 shares of the energy company’s stock after selling 2,006 shares during the quarter. Congress Asset Management Co. MA owned about 0.09% of Matador Resources worth $7,214,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Parkside Financial Bank & Trust grew its holdings in Matador Resources by 82.0% during the 3rd quarter. Parkside Financial Bank & Trust now owns 444 shares of the energy company’s stock worth $26,000 after acquiring an additional 200 shares in the last quarter. Rise Advisors LLC bought a new stake in shares of Matador Resources during the 1st quarter worth about $34,000. Oakworth Capital Inc. bought a new stake in shares of Matador Resources in the 4th quarter worth approximately $31,000. Financial Management Professionals Inc. acquired a new stake in shares of Matador Resources during the 4th quarter valued at $34,000. Finally, McGlone Suttner Wealth Management Inc. acquired a new stake in Matador Resources during the 4th quarter worth about $35,000. Hedge funds and other institutional investors own 91.98% of the company’s stock.

Matador Resources Price Performance

NYSE MTDR traded down $0.54 on Friday, hitting $57.10. 3,434,315 shares of the company were exchanged, compared to its average volume of 1,458,496. Matador Resources has a 1-year low of $48.01 and a 1-year high of $71.08. The firm has a 50 day moving average of $61.80 and a two-hundred day moving average of $60.51. The company has a current ratio of 0.89, a quick ratio of 0.84 and a debt-to-equity ratio of 0.43. The company has a market cap of $7.12 billion, a P/E ratio of 7.82 and a beta of 3.30.

Matador Resources (NYSE:MTDR) last released its earnings results on Tuesday, April 23rd. The energy company reported $1.71 earnings per share for the quarter, topping analysts’ consensus estimates of $1.39 by $0.32. The company had revenue of $787.70 million during the quarter, compared to the consensus estimate of $740.99 million. Matador Resources had a return on equity of 20.62% and a net margin of 28.89%. The firm’s quarterly revenue was up 40.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.50 earnings per share. On average, equities analysts predict that Matador Resources will post 7.9 EPS for the current year.

Matador Resources Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 7th. Stockholders of record on Friday, May 17th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.40%. The ex-dividend date was Thursday, May 16th. Matador Resources’s dividend payout ratio (DPR) is presently 10.96%.

Insider Transactions at Matador Resources

In related news, EVP Bryan A. Erman purchased 1,750 shares of the business’s stock in a transaction dated Friday, June 14th. The shares were bought at an average price of $55.90 per share, with a total value of $97,825.00. Following the purchase, the executive vice president now directly owns 1,750 shares in the company, valued at approximately $97,825. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 6.10% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have recently commented on MTDR shares. Truist Financial raised their target price on Matador Resources from $87.00 to $91.00 and gave the stock a “buy” rating in a research report on Thursday, June 13th. Royal Bank of Canada reissued an “outperform” rating and issued a $70.00 price objective on shares of Matador Resources in a research report on Tuesday, March 5th. Mizuho upped their price objective on shares of Matador Resources from $83.00 to $85.00 and gave the company a “buy” rating in a research report on Friday, June 14th. Benchmark lowered their price objective on Matador Resources from $71.00 to $62.00 and set a “buy” rating on the stock in a research report on Tuesday, April 23rd. Finally, JPMorgan Chase & Co. lifted their price objective on Matador Resources from $76.00 to $77.00 and gave the company an “overweight” rating in a report on Thursday, April 11th. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $76.09.

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.