Avantax Advisory Services Inc. Invests $515,000 in Matador Resources (NYSE:MTDR)

Avantax Advisory Services Inc. bought a new stake in Matador Resources (NYSE:MTDR) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 9,162 shares of the energy company’s stock, valued at approximately $515,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Avior Wealth Management LLC grew its stake in Matador Resources by 329.0% in the 3rd quarter. Avior Wealth Management LLC now owns 828 shares of the energy company’s stock valued at $41,000 after purchasing an additional 635 shares during the period. Commerce Bank increased its position in Matador Resources by 9.7% in the third quarter. Commerce Bank now owns 12,360 shares of the energy company’s stock worth $611,000 after buying an additional 1,098 shares during the last quarter. King Luther Capital Management Corp grew its stake in shares of Matador Resources by 180.2% during the 3rd quarter. King Luther Capital Management Corp now owns 11,208 shares of the energy company’s stock worth $554,000 after acquiring an additional 7,208 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Matador Resources by 4.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,434,926 shares of the energy company’s stock worth $70,914,000 after acquiring an additional 57,254 shares during the last quarter. Finally, Raymond James Trust N.A. increased its holdings in Matador Resources by 44.0% in the 3rd quarter. Raymond James Trust N.A. now owns 8,226 shares of the energy company’s stock worth $407,000 after acquiring an additional 2,512 shares during the last quarter. 91.98% of the stock is owned by hedge funds and other institutional investors.

Matador Resources Trading Down 1.4 %

NYSE MTDR opened at $51.59 on Friday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.84 and a current ratio of 0.93. The stock has a market cap of $6.46 billion, a P/E ratio of 7.23 and a beta of 3.17. The stock has a 50 day simple moving average of $55.39 and a two-hundred day simple moving average of $54.83. Matador Resources has a fifty-two week low of $43.89 and a fifty-two week high of $71.08.

Matador Resources (NYSE:MTDR) last issued its quarterly earnings data on Tuesday, February 18th. The energy company reported $1.83 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 analysts’ expectations of $967.10 million. On average, analysts forecast that Matador Resources will post 8.53 earnings per share for the current year.

Matador Resources Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were given a $0.3125 dividend. The ex-dividend date was Friday, February 28th. This represents a $1.25 annualized dividend and a dividend yield of 2.42%. This is a positive change from Matador Resources’s previous quarterly dividend of $0.25. Matador Resources’s dividend payout ratio is currently 17.51%.

Analyst Upgrades and Downgrades

MTDR has been the subject of several recent research reports. Benchmark reiterated a “buy” rating and issued a $62.00 price target on shares of Matador Resources in a research report on Friday, January 17th. Wolfe Research upgraded shares of Matador Resources from a “peer perform” rating to an “outperform” rating and set a $72.00 target price for the company in a research report on Friday, January 3rd. Morgan Stanley began coverage on Matador Resources in a research report on Friday, January 10th. They set an “equal weight” rating and a $78.00 price target on the stock. Wells Fargo & Company upped their price objective on Matador Resources from $87.00 to $91.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $70.00 price objective on shares of Matador Resources in a report on Wednesday, January 15th. One analyst has rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, Matador Resources has an average rating of “Moderate Buy” and an average price target of $74.20.

Insider Activity

In related news, CEO Joseph Wm Foran acquired 6,000 shares of the stock in a transaction on Friday, February 21st. The stock was acquired at an average price of $53.94 per share, for a total transaction of $323,640.00. Following the completion of the purchase, the chief executive officer now owns 39,379 shares of the company’s stock, valued at $2,124,103.26. This represents a 17.98 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Robert T. Macalik acquired 1,200 shares of Matador Resources stock in a transaction on Wednesday, March 5th. The shares were purchased at an average price of $47.98 per share, with a total value of $57,576.00. Following the completion of the purchase, the chief accounting officer now owns 31,000 shares in the company, valued at $1,487,380. This represents a 4.03 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 21,350 shares of company stock worth $1,100,769. Corporate insiders own 6.10% of the company’s stock.

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.