Merewether Investment Management LP Takes Position in Matador Resources (NYSE:MTDR)

Merewether Investment Management LP acquired a new stake in Matador Resources (NYSE:MTDR - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 279,071 shares of the energy company's stock, valued at approximately $15,701,000. Merewether Investment Management LP owned approximately 0.22% of Matador Resources as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in MTDR. TCTC Holdings LLC increased its holdings in Matador Resources by 53.8% during the 4th quarter. TCTC Holdings LLC now owns 500 shares of the energy company's stock worth $28,000 after purchasing an additional 175 shares in the last quarter. MassMutual Private Wealth & Trust FSB boosted its stake in shares of Matador Resources by 68.3% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 510 shares of the energy company's stock worth $29,000 after buying an additional 207 shares during the last quarter. Atria Investments Inc boosted its stake in shares of Matador Resources by 3.1% during the 4th quarter. Atria Investments Inc now owns 8,188 shares of the energy company's stock worth $461,000 after buying an additional 249 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of Matador Resources by 108.5% during the 4th quarter. EverSource Wealth Advisors LLC now owns 492 shares of the energy company's stock worth $28,000 after buying an additional 256 shares during the last quarter. Finally, Arizona State Retirement System boosted its stake in shares of Matador Resources by 0.8% during the 4th quarter. Arizona State Retirement System now owns 34,413 shares of the energy company's stock worth $1,936,000 after buying an additional 280 shares during the last quarter. Institutional investors own 91.98% of the company's stock.

Matador Resources Trading Down 0.2%

Shares of MTDR stock traded down $0.10 during mid-day trading on Friday, reaching $44.49. The stock had a trading volume of 1,064,448 shares, compared to its average volume of 1,629,643. The stock's 50-day moving average price is $44.24 and its two-hundred day moving average price is $52.37. Matador Resources has a 52-week low of $35.19 and a 52-week high of $66.89. The firm has a market capitalization of $5.57 billion, a PE ratio of 6.23 and a beta of 1.47. The company has a current ratio of 0.93, a quick ratio of 0.84 and a debt-to-equity ratio of 0.61.

Matador Resources (NYSE:MTDR - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The energy company reported $1.99 earnings per share for the quarter, beating analysts' consensus estimates of $1.74 by $0.25. The firm had revenue of $1.01 billion for the quarter, compared to analyst estimates of $980.87 million. Matador Resources had a net margin of 25.26% and a return on equity of 18.52%. The company's revenue for the quarter was up 28.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.71 EPS. Equities analysts expect that Matador Resources will post 8.53 earnings per share for the current fiscal year.

Matador Resources declared that its Board of Directors has approved a share buyback plan on Wednesday, April 23rd that allows the company to repurchase $400.00 million in shares. This repurchase authorization allows the energy company to buy up to 7.8% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's management believes its shares are undervalued.

Matador Resources Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 9th will be given a $0.3125 dividend. The ex-dividend date of this dividend is Friday, May 9th. This represents a $1.25 dividend on an annualized basis and a dividend yield of 2.81%. Matador Resources's dividend payout ratio is currently 16.78%.

Insider Transactions at Matador Resources

In related news, COO Christopher P. Calvert acquired 1,300 shares of Matador Resources stock in a transaction dated Friday, February 21st. The stock was purchased at an average cost of $55.17 per share, for a total transaction of $71,721.00. Following the purchase, the chief operating officer now directly owns 34,000 shares of the company's stock, valued at approximately $1,875,780. This trade represents a 3.98% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Joseph Wm Foran acquired 2,500 shares of Matador Resources stock in a transaction dated Wednesday, May 7th. The stock was bought at an average price of $39.63 per share, with a total value of $99,075.00. Following the completion of the purchase, the chief executive officer now directly owns 60,756 shares in the company, valued at $2,407,760.28. This represents a 4.29% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased a total of 36,200 shares of company stock valued at $1,701,872 in the last ninety days. 6.10% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

MTDR has been the subject of a number of research analyst reports. 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 report on Monday, April 28th. Stephens dropped their price target on shares of Matador Resources from $90.00 to $86.00 and set an "overweight" rating for the company in a research report on Tuesday, April 15th. KeyCorp dropped their price target on shares of Matador Resources from $72.00 to $60.00 and set an "overweight" rating for the company in a research report on Monday, April 21st. Royal Bank of Canada dropped their price target on shares of 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, Raymond James dropped their price target on shares of Matador Resources from $77.00 to $67.00 and set an "outperform" rating for the company in a research report on Monday, March 10th. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $70.33.

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.