CIBC Asset Management Inc Takes $209,000 Position in Matador Resources (NYSE:MTDR)

CIBC Asset Management Inc acquired a new stake in shares of Matador Resources (NYSE:MTDR) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,713 shares of the energy company’s stock, valued at approximately $209,000.

A number of other institutional investors have also recently made changes to their positions in the stock. Sanctuary Advisors LLC boosted its stake in shares of Matador Resources by 20.4% during the fourth quarter. Sanctuary Advisors LLC now owns 7,316 shares of the energy company’s stock valued at $436,000 after purchasing an additional 1,238 shares during the period. James Investment Research Inc. boosted its stake in shares of Matador Resources by 5.6% during the fourth quarter. James Investment Research Inc. now owns 60,985 shares of the energy company’s stock valued at $3,431,000 after purchasing an additional 3,226 shares during the period. Rhumbline Advisers boosted its stake in shares of Matador Resources by 1.9% during the fourth quarter. Rhumbline Advisers now owns 309,022 shares of the energy company’s stock valued at $17,386,000 after purchasing an additional 5,716 shares during the period. New York State Teachers Retirement System boosted its stake in shares of Matador Resources by 2.2% during the fourth quarter. New York State Teachers Retirement System now owns 135,477 shares of the energy company’s stock valued at $7,622,000 after purchasing an additional 2,881 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its stake in shares of Matador Resources by 16.9% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 139,254 shares of the energy company’s stock valued at $8,088,000 after purchasing an additional 20,172 shares during the period. Hedge funds and other institutional investors own 91.98% of the company’s stock.

Insider Activity

In other Matador Resources news, Director Paul W. Harvey acquired 600 shares of Matador Resources stock in a transaction that occurred on Friday, February 21st. The stock was bought at an average cost of $55.20 per share, for a total transaction of $33,120.00. Following the acquisition, the director now owns 27,917 shares of the company’s stock, valued at $1,541,018.40. This represents a 2.20 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Joseph Wm Foran acquired 2,000 shares of Matador Resources stock in a transaction that occurred on Friday, December 6th. The stock was acquired at an average price of $55.18 per share, with a total value of $110,360.00. Following the completion of the acquisition, the chief executive officer now directly owns 42,251 shares in the company, valued at $2,331,410.18. This represents a 4.97 % increase in their position. The disclosure for this purchase can be found here. Insiders purchased 16,880 shares of company stock worth $912,289 over the last three months. 6.10% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Morgan Stanley assumed coverage on Matador Resources in a research note on Friday, January 10th. They issued an “equal weight” rating and a $78.00 price target for the company. Stephens raised their price target on Matador Resources from $78.00 to $80.00 and gave the stock an “overweight” rating in a research note on Friday, December 6th. Wolfe Research raised 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. Wells Fargo & Company raised their price target on Matador Resources from $87.00 to $91.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Finally, Benchmark reaffirmed a “buy” rating and issued a $62.00 price target on shares of Matador Resources in a research note on Friday, January 17th. One investment analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $75.14.

Matador Resources Price Performance

MTDR opened at $52.08 on Thursday. The stock has a fifty day simple moving average of $58.03 and a two-hundred day simple moving average of $55.76. The company has a current ratio of 0.93, a quick ratio of 0.84 and a debt-to-equity ratio of 0.61. The company has a market cap of $6.50 billion, a price-to-earnings ratio of 7.29 and a beta of 3.22. Matador Resources has a 12-month low of $47.15 and a 12-month high of $71.08.

Matador Resources (NYSE:MTDR) last issued its quarterly earnings results on Tuesday, February 18th. The energy company reported $1.83 earnings per share for the quarter, missing the consensus estimate 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 the consensus estimate of $967.10 million. Research analysts predict that Matador Resources will post 8.53 earnings per share for the current fiscal year.

Matador Resources Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be issued a dividend of $0.3125 per share. The ex-dividend date of this dividend is Friday, February 28th. This is an increase from Matador Resources’s previous quarterly dividend of $0.25. This represents a $1.25 annualized dividend and a dividend yield of 2.40%. Matador Resources’s dividend payout ratio (DPR) is presently 17.51%.

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.