44,463 Shares in Matador Resources Company (NYSE:MTDR) Bought by Edgestream Partners L.P.

Edgestream Partners L.P. acquired a new stake in Matador Resources Company (NYSE:MTDR - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund acquired 44,463 shares of the energy company's stock, valued at approximately $2,272,000.

Several other hedge funds also recently modified their holdings of MTDR. Altshuler Shaham Ltd bought a new stake in Matador Resources during the 4th quarter valued at $25,000. EverSource Wealth Advisors LLC increased its stake in Matador Resources by 108.5% during the 4th quarter. EverSource Wealth Advisors LLC now owns 492 shares of the energy company's stock valued at $28,000 after purchasing an additional 256 shares in the last quarter. Opal Wealth Advisors LLC bought a new stake in Matador Resources during the 1st quarter valued at $28,000. Rakuten Securities Inc. increased its stake in Matador Resources by 9,090.9% during the 1st quarter. Rakuten Securities Inc. now owns 1,011 shares of the energy company's stock valued at $52,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Mpwm Advisory Solutions LLC bought a new stake in Matador Resources during the 4th quarter valued at $68,000. Institutional investors own 91.98% of the company's stock.

Insider Buying and Selling

In other Matador Resources news, COO Christopher P. Calvert purchased 1,500 shares of Matador Resources stock in a transaction on Thursday, May 1st. The shares were acquired at an average cost of $41.13 per share, for a total transaction of $61,695.00. Following the completion of the transaction, the chief operating officer directly owned 36,500 shares of the company's stock, valued at approximately $1,501,245. The trade was a 4.29% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Van H. Singleton II purchased 1,000 shares of Matador Resources stock in a transaction on Thursday, May 1st. The shares were acquired at an average price of $40.72 per share, for a total transaction of $40,720.00. Following the completion of the transaction, the insider directly owned 291,135 shares of the company's stock, valued at approximately $11,855,017.20. The trade was a 0.34% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased 14,850 shares of company stock valued at $601,103 in the last 90 days. 5.80% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research firms have issued reports on MTDR. Royal Bank Of Canada cut their price objective on shares of Matador Resources from $70.00 to $62.00 and set an "outperform" rating on the stock in a report on Friday, April 11th. Stephens cut their price objective on shares of Matador Resources from $90.00 to $86.00 and set an "overweight" rating on the stock in a report on Tuesday, April 15th. Bank of America began coverage on shares of Matador Resources in a report on Monday, May 19th. They set a "buy" rating and a $56.00 price objective on the stock. Morgan Stanley cut their price objective on shares of Matador Resources from $84.00 to $68.00 and set an "equal weight" rating on the stock in a report on Thursday, March 27th. Finally, UBS Group lifted their price objective on shares of Matador Resources from $46.00 to $48.00 and gave the stock a "neutral" rating in a report on Thursday. Two equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $69.13.

Matador Resources Price Performance

Shares of Matador Resources stock traded down $0.43 on Friday, reaching $51.33. The stock had a trading volume of 1,933,233 shares, compared to its average volume of 1,567,874. Matador Resources Company has a 1 year low of $35.19 and a 1 year high of $64.26. The company has a market cap of $6.43 billion, a P/E ratio of 6.89 and a beta of 1.46. The company has a current ratio of 0.79, a quick ratio of 0.76 and a debt-to-equity ratio of 0.56. The business's 50 day moving average is $47.85 and its two-hundred day moving average is $49.69.

Matador Resources (NYSE:MTDR - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The energy company reported $1.99 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.74 by $0.25. Matador Resources had a net margin of 24.97% and a return on equity of 18.45%. The firm had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $980.87 million. During the same period in the prior year, the firm posted $1.71 earnings per share. The company's revenue for the quarter was up 28.7% on a year-over-year basis. As a group, research analysts anticipate that Matador Resources Company will post 8.53 EPS for the current year.

Matador Resources announced that its Board of Directors has approved a share repurchase program 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 programs are usually a sign that the company's leadership believes its stock is undervalued.

Matador Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 5th. Investors of record on Friday, August 15th will be given a $0.3125 dividend. This represents a $1.25 annualized dividend and a dividend yield of 2.44%. The ex-dividend date of this dividend is Friday, August 15th. Matador Resources's dividend payout ratio (DPR) is 16.78%.

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.