Snowden Capital Advisors LLC Takes $443,000 Position in Matador Resources (NYSE:MTDR)

Snowden Capital Advisors LLC bought a new position 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 fund bought 7,882 shares of the energy company's stock, valued at approximately $443,000.

A number of other hedge funds also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC lifted its position in Matador Resources by 16.9% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 139,254 shares of the energy company's stock valued at $8,088,000 after purchasing an additional 20,172 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Matador Resources by 3.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,491,570 shares of the energy company's stock valued at $83,916,000 after purchasing an additional 56,644 shares during the last quarter. Envestnet Asset Management Inc. lifted its position in Matador Resources by 49.7% in the fourth quarter. Envestnet Asset Management Inc. now owns 300,301 shares of the energy company's stock valued at $16,895,000 after purchasing an additional 99,711 shares during the last quarter. Shaker Investments LLC OH bought a new stake in Matador Resources in the fourth quarter valued at approximately $546,000. Finally, Fisher Asset Management LLC lifted its position in Matador Resources by 23.0% in the fourth quarter. Fisher Asset Management LLC now owns 785,610 shares of the energy company's stock valued at $44,198,000 after purchasing an additional 146,922 shares during the last quarter. Institutional investors own 91.98% of the company's stock.

Insider Transactions at Matador Resources

In related news, CEO Joseph Wm Foran acquired 5,000 shares of the stock in a transaction dated Tuesday, April 29th. The stock was acquired at an average cost of $40.86 per share, with a total value of $204,300.00. Following the purchase, the chief executive officer now directly owns 50,756 shares of the company's stock, valued at approximately $2,073,890.16. This trade represents a 10.93% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Christopher P. Calvert acquired 1,000 shares of the stock in a transaction dated Monday, March 3rd. The stock was bought at an average cost of $49.27 per share, with a total value of $49,270.00. Following the completion of the purchase, the chief operating officer now directly owns 35,000 shares in the company, valued at approximately $1,724,450. The trade was a 2.94% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased 22,300 shares of company stock worth $955,571 in the last three months. Corporate insiders own 6.10% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on MTDR shares. Bank of America started coverage on Matador Resources in a research report on Monday, May 19th. They issued a "buy" rating and a $56.00 price objective for the company. UBS Group started coverage on Matador Resources in a report on Tuesday, April 22nd. They set a "neutral" rating and a $47.00 target price for the company. KeyCorp decreased their target price on Matador Resources from $72.00 to $60.00 and set an "overweight" rating for the company in a report on Monday, April 21st. Morgan Stanley decreased their target price on Matador Resources from $84.00 to $68.00 and set an "equal weight" rating for the company in a report on Thursday, March 27th. Finally, Raymond James decreased their target price on Matador Resources from $77.00 to $67.00 and set an "outperform" rating for the company in a report on Monday, March 10th. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, Matador Resources has a consensus rating of "Moderate Buy" and an average target price of $69.44.

Matador Resources Stock Up 0.9%

Matador Resources stock traded up $0.37 during trading hours on Tuesday, hitting $43.77. The stock had a trading volume of 186,789 shares, compared to its average volume of 1,627,526. Matador Resources has a 12-month low of $35.19 and a 12-month high of $66.89. The stock has a market capitalization of $5.48 billion, a P/E ratio of 6.14 and a beta of 1.47. The stock's 50-day moving average price is $43.54 and its 200-day moving average price is $51.92. The company has a quick ratio of 0.84, a current ratio of 0.93 and a debt-to-equity ratio of 0.61.

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, beating analysts' consensus estimates of $1.74 by $0.25. Matador Resources had a net margin of 25.26% and a return on equity of 18.52%. The firm had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $980.87 million. During the same quarter last year, the firm posted $1.71 EPS. The business's quarterly revenue was up 28.7% compared to the same quarter last year. Equities research analysts anticipate that Matador Resources will post 8.53 EPS for the current fiscal year.

Matador Resources declared that its board has approved a share repurchase plan on Wednesday, April 23rd that allows the company to buyback $400.00 million in outstanding shares. This buyback authorization allows the energy company to buy up to 7.8% of its shares through open market purchases. Shares buyback plans are often a sign that the company's board believes its stock is undervalued.

Matador Resources Announces Dividend

The firm also recently disclosed 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. This represents a $1.25 annualized dividend and a dividend yield of 2.86%. The ex-dividend date is Friday, May 9th. Matador Resources's dividend payout ratio (DPR) is presently 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.