35,600 Shares in Matador Resources Company (NYSE:MTDR) Bought by Alberta Investment Management Corp

Key Points

• Alberta Investment Management Corp acquired 35,600 shares of Matador Resources, valued at approximately $1.82 million, as per their recent SEC filing.
• Analysts have mixed views on Matador, with targets ranging from $48.00 to $74.00, and an average target price of $68.00.
• Matador Resources announced a quarterly dividend of $0.3125 per share, representing an annualized yield of 2.6%, alongside a stock buyback plan to repurchase up to 7.8% of its shares.

Alberta Investment Management Corp acquired a new position in shares of Matador Resources Company (NYSE:MTDR - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 35,600 shares of the energy company's stock, valued at approximately $1,819,000.

A number of other hedge funds have also modified their holdings of the company. Altshuler Shaham Ltd acquired a new position in Matador Resources during the fourth quarter valued at approximately $25,000. MCF Advisors LLC bought a new stake in shares of Matador Resources during the 1st quarter worth approximately $26,000. Opal Wealth Advisors LLC acquired a new stake in shares of Matador Resources in the 1st quarter valued at approximately $28,000. Rakuten Securities Inc. grew its stake in shares of Matador Resources by 9,090.9% in the first quarter. Rakuten Securities Inc. now owns 1,011 shares of the energy company's stock valued at $52,000 after buying an additional 1,000 shares in the last quarter. Finally, Mpwm Advisory Solutions LLC acquired a new position in Matador Resources during the fourth quarter worth $68,000. 91.98% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Mizuho cut their price target on shares of Matador Resources from $74.00 to $73.00 and set an "outperform" rating for the company in a research note on Tuesday, May 13th. Royal Bank Of Canada cut their target price on shares of Matador Resources from $70.00 to $62.00 and set an "outperform" rating for the company in a research note on Friday, April 11th. TD Cowen raised Matador Resources to a "strong-buy" rating in a research report on Monday, July 7th. JPMorgan Chase & Co. cut 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. Finally, Stephens decreased their target price on Matador Resources from $90.00 to $86.00 and set an "overweight" rating on the stock in a report on Tuesday, April 15th. Two analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Matador Resources currently has a consensus rating of "Moderate Buy" and a consensus target price of $68.00.

Matador Resources Stock Performance

NYSE:MTDR traded up $0.15 during mid-day trading on Tuesday, reaching $47.81. 2,388,387 shares of the company's stock were exchanged, compared to its average volume of 1,959,772. Matador Resources Company has a one year low of $35.19 and a one year high of $64.04. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.81 and a current ratio of 0.85. The business's fifty day simple moving average is $49.16 and its two-hundred day simple moving average is $48.85. The firm has a market capitalization of $5.95 billion, a PE ratio of 7.00 and a beta of 1.49.

Matador Resources (NYSE:MTDR - Get Free Report) last announced its earnings results on Tuesday, July 22nd. The energy company reported $1.53 EPS for the quarter, topping the consensus estimate of $1.29 by $0.24. Matador Resources had a net margin of 22.57% and a return on equity of 16.53%. The company had revenue of $895.31 million for the quarter, compared to analysts' expectations of $892.86 million. During the same period last year, the firm earned $2.05 earnings per share. The business's revenue for the quarter was up 8.2% on a year-over-year basis. Analysts anticipate that Matador Resources Company will post 8.53 earnings per share for the current fiscal year.

Matador Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 5th. Shareholders of record on Friday, August 15th will be issued a $0.3125 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a $1.25 annualized dividend and a yield of 2.6%. Matador Resources's payout ratio is currently 18.30%.

Matador Resources announced that its board has authorized a stock buyback program on Wednesday, April 23rd that permits the company to buyback $400.00 million in shares. This buyback authorization permits the energy company to buy up to 7.8% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's leadership believes its stock is undervalued.

Insiders Place Their Bets

In related news, CEO Joseph Wm Foran bought 5,000 shares of Matador Resources stock in a transaction dated Friday, August 1st. The shares were bought at an average cost of $49.17 per share, with a total value of $245,850.00. Following the acquisition, the chief executive officer owned 6,606 shares in the company, valued at $324,817.02. This trade represents a 311.33% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. 5.80% of the stock is owned by corporate insiders.

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.