Nuveen LLC Makes New Investment in Matador Resources Company $MTDR

Key Points

• Nuveen LLC acquired 699,062 shares of Matador Resources Company, valued at approximately $35.7 million, representing about 0.56% ownership of the company as of its latest SEC filing.
• CEO Joseph Wm Foran purchased 5,000 shares at an average price of $49.17, increasing his ownership by 311.33%, now holding a total of 6,606 shares worth approximately $324,817.
• Matador Resources recently announced a quarterly dividend of $0.3125 per share, with a dividend yield of 2.7%, and a new share buyback program authorizing up to $400 million in stock repurchases.

Nuveen LLC purchased a new position in shares of Matador Resources Company (NYSE:MTDR - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 699,062 shares of the energy company's stock, valued at approximately $35,715,000. Nuveen LLC owned about 0.56% of Matador Resources at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of MTDR. Vanguard Group Inc. grew its position in Matador Resources by 7.6% during the 1st quarter. Vanguard Group Inc. now owns 13,511,643 shares of the energy company's stock worth $690,310,000 after acquiring an additional 956,090 shares during the last quarter. LSV Asset Management grew its position in Matador Resources by 50.9% during the 1st quarter. LSV Asset Management now owns 2,289,379 shares of the energy company's stock worth $116,964,000 after acquiring an additional 772,071 shares during the last quarter. Webs Creek Capital Management LP bought a new stake in Matador Resources during the 4th quarter worth approximately $37,894,000. Raymond James Financial Inc. bought a new stake in Matador Resources during the 4th quarter worth approximately $22,509,000. Finally, Balyasny Asset Management L.P. boosted its position in Matador Resources by 101.7% in the 4th quarter. Balyasny Asset Management L.P. now owns 734,626 shares of the energy company's stock valued at $41,330,000 after buying an additional 370,388 shares during the last quarter. 91.98% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have commented on MTDR. KeyCorp increased their price objective on Matador Resources from $60.00 to $62.00 and gave the company an "overweight" rating in a research report on Thursday, July 24th. Bank of America began coverage on Matador Resources in a research report on Monday, May 19th. They issued a "buy" rating and a $56.00 price objective on the stock. Mizuho decreased their price objective on Matador Resources from $74.00 to $73.00 and set an "outperform" rating on the stock in a research report on Tuesday, May 13th. Raymond James Financial increased their price objective on Matador Resources from $60.00 to $63.00 and gave the company an "outperform" rating in a research report on Thursday, July 31st. Finally, Morgan Stanley increased their price objective on Matador Resources from $60.00 to $62.00 and gave the company an "equal weight" rating in a research report on Monday. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $67.60.

Matador Resources Trading Up 4.0%

Shares of MTDR stock traded up $1.8750 during trading hours on Friday, reaching $48.2150. The company had a trading volume of 181,094 shares, compared to its average volume of 1,701,248. The company has a 50 day moving average of $49.47 and a 200 day moving average of $47.77. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.85 and a quick ratio of 0.81. The firm has a market cap of $6.00 billion, a price-to-earnings ratio of 7.05 and a beta of 1.49. Matador Resources Company has a 1-year low of $35.19 and a 1-year high of $64.04.

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

Matador Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 5th. Investors of record on Friday, August 15th will be paid a dividend of $0.3125 per share. This represents a $1.25 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend is Friday, August 15th. Matador Resources's dividend payout ratio (DPR) is presently 18.30%.

Insider Buying and Selling

In other Matador Resources news, CEO Joseph Wm Foran acquired 2,000 shares of the company's stock in a transaction that occurred on Tuesday, August 19th. The shares were acquired at an average price of $46.25 per share, with a total value of $92,500.00. Following the purchase, the chief executive officer owned 8,606 shares of the company's stock, valued at $398,027.50. This represents a 30.28% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 5.80% 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.