279,071 Shares in Matador Resources (NYSE:MTDR) Purchased by Merewether Investment Management LP

Merewether Investment Management LP bought a new position in Matador Resources (NYSE:MTDR - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 279,071 shares of the energy company's stock, valued at approximately $15,701,000. Merewether Investment Management LP owned about 0.22% of Matador Resources at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of MTDR. Barclays PLC increased its position in Matador Resources by 16.1% in the 3rd quarter. Barclays PLC now owns 190,035 shares of the energy company's stock worth $9,391,000 after purchasing an additional 26,289 shares during the last quarter. Tidal Investments LLC acquired a new stake in Matador Resources in the 3rd quarter valued at approximately $423,000. Park Avenue Securities LLC grew its holdings in Matador Resources by 35.1% in the 4th quarter. Park Avenue Securities LLC now owns 8,118 shares of the energy company's stock valued at $457,000 after buying an additional 2,108 shares during the last quarter. Merit Financial Group LLC acquired a new stake in Matador Resources in the 4th quarter valued at approximately $251,000. Finally, Spring Capital Management LLC grew its holdings in Matador Resources by 89.5% in the 4th quarter. Spring Capital Management LLC now owns 50,827 shares of the energy company's stock valued at $2,860,000 after buying an additional 24,000 shares during the last quarter. 91.98% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MTDR has been the topic of a number of research analyst reports. Morgan Stanley lowered their target price on Matador Resources from $84.00 to $68.00 and set an "equal weight" rating on the stock in a report on Thursday, March 27th. Wells Fargo & Company reduced their price objective on Matador Resources from $86.00 to $80.00 and set an "overweight" rating for the company in a research report on Monday, April 28th. JPMorgan Chase & Co. reduced their price objective on Matador Resources from $65.00 to $61.00 and set an "overweight" rating for the company in a research report on Thursday, April 10th. Royal Bank of Canada cut their target price on Matador Resources from $70.00 to $62.00 and set an "outperform" rating for the company in a research report on Friday, April 11th. Finally, Benchmark restated a "buy" rating and set a $62.00 target price on shares of Matador Resources in a research report on Friday, January 17th. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $70.33.

Insider Activity

In other news, COO Christopher P. Calvert purchased 1,300 shares of the company's stock in a transaction that occurred on Friday, February 21st. The shares were acquired at an average cost of $55.17 per share, with a total value of $71,721.00. Following the purchase, the chief operating officer now owns 34,000 shares in the company, valued at $1,875,780. This represents a 3.98% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Glenn W. Stetson purchased 1,000 shares of the company's stock in a transaction that occurred on Friday, February 21st. The shares were purchased at an average cost of $53.06 per share, for a total transaction of $53,060.00. Following the completion of the purchase, the executive vice president now owns 91,680 shares in the company, valued at $4,864,540.80. This trade represents a 1.10% increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders have acquired 36,200 shares of company stock worth $1,701,872. Insiders own 6.10% of the company's stock.

Matador Resources Stock Up 4.5%

MTDR opened at $44.66 on Tuesday. Matador Resources has a 1-year low of $35.19 and a 1-year high of $66.89. The stock's fifty day simple moving average is $44.26 and its 200 day simple moving average is $52.54. 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 stock has a market cap of $5.59 billion, a PE ratio of 6.25 and a beta of 1.47.

Matador Resources (NYSE:MTDR - Get Free Report) 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. Matador Resources had a return on equity of 18.52% and a net margin of 25.26%. The firm had revenue of $1.01 billion for the quarter, compared to analyst estimates of $980.87 million. During the same quarter last year, the company earned $1.71 EPS. The company's revenue was up 28.7% on a year-over-year basis. As a group, research analysts expect that Matador Resources will post 8.53 earnings per share for the current year.

Matador Resources Announces Dividend

The firm also recently declared 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. The ex-dividend date of this dividend is Friday, May 9th. This represents a $1.25 annualized dividend and a dividend yield of 2.80%. Matador Resources's payout ratio is 16.78%.

Matador Resources announced that its Board of Directors has approved a stock repurchase program on Wednesday, April 23rd that authorizes the company to repurchase $400.00 million in shares. This repurchase authorization authorizes the energy company to purchase up to 7.8% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's leadership believes its stock is 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.

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