Advisor Resource Council acquired a new stake in shares of Matador Resources Company (NYSE:MTDR - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 18,278 shares of the energy company's stock, valued at approximately $934,000.
A number of other institutional investors have also modified their holdings of MTDR. Vanguard Group Inc. boosted its stake in Matador Resources by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 12,555,553 shares of the energy company's stock worth $706,375,000 after purchasing an additional 187,633 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Matador Resources by 0.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 5,444,723 shares of the energy company's stock valued at $306,313,000 after buying an additional 30,184 shares in the last quarter. Alliancebernstein L.P. increased its stake in shares of Matador Resources by 25.9% in the 4th quarter. Alliancebernstein L.P. now owns 2,698,606 shares of the energy company's stock valued at $151,824,000 after purchasing an additional 555,245 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in Matador Resources by 18.4% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,669,957 shares of the energy company's stock valued at $93,952,000 after purchasing an additional 258,958 shares during the period. Finally, LSV Asset Management lifted its position in shares of Matador Resources by 262.0% during the 4th quarter. LSV Asset Management now owns 1,517,308 shares of the energy company's stock valued at $85,364,000 after buying an additional 1,098,108 shares in the last quarter. 91.98% of the stock is currently owned by institutional investors.
Matador Resources Stock Performance
MTDR stock traded down $0.69 during trading on Wednesday, hitting $47.83. The company had a trading volume of 1,503,884 shares, compared to its average volume of 1,619,200. The firm has a 50-day moving average price of $44.44 and a 200-day moving average price of $50.35. The company has a quick ratio of 0.76, a current ratio of 0.79 and a debt-to-equity ratio of 0.56. The firm has a market cap of $5.99 billion, a PE ratio of 6.42 and a beta of 1.46. Matador Resources Company has a 1-year low of $35.19 and a 1-year high of $66.89.
Matador Resources (NYSE:MTDR - Get Free Report) last released its 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 return on equity of 18.45% and a net margin of 24.97%. The business had revenue of $1.01 billion for the quarter, compared to analyst estimates of $980.87 million. During the same quarter in the previous year, the company posted $1.71 earnings per share. The company's revenue for the quarter was up 28.7% compared to the same quarter last year. On average, analysts expect that Matador Resources Company will post 8.53 earnings per share for the current year.
Matador Resources declared that its Board of Directors has initiated a stock buyback program on Wednesday, April 23rd that authorizes the company to buyback $400.00 million in shares. This buyback authorization authorizes the energy company to purchase up to 7.8% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's board of directors believes its stock is undervalued.
Matador Resources Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, June 6th. Investors of record on Friday, May 9th were given a $0.3125 dividend. The ex-dividend date was Friday, May 9th. This represents a $1.25 dividend on an annualized basis and a yield of 2.61%. Matador Resources's dividend payout ratio (DPR) is 16.78%.
Insider Transactions at Matador Resources
In other news, EVP William Thomas Elsener acquired 750 shares of Matador Resources stock in a transaction that occurred on Thursday, May 1st. The stock was purchased at an average cost of $40.10 per share, with a total value of $30,075.00. Following the completion of the acquisition, the executive vice president now owns 111,197 shares in the company, valued at $4,458,999.70. This trade represents a 0.68% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Glenn W. Stetson purchased 1,000 shares of the business's stock in a transaction dated Monday, April 28th. The shares were purchased at an average cost of $41.53 per share, with a total value of $41,530.00. Following the purchase, the executive vice president now directly owns 93,180 shares in the company, valued at approximately $3,869,765.40. The trade was a 1.08% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought a total of 14,850 shares of company stock worth $601,103 over the last ninety days. 5.80% of the stock is currently owned by company insiders.
Analysts Set New Price Targets
Several equities research analysts have commented on MTDR shares. KeyCorp cut their price objective on Matador Resources from $72.00 to $60.00 and set an "overweight" rating for the company in a research note on Monday, April 21st. Mizuho cut their price objective on Matador Resources from $74.00 to $73.00 and set an "outperform" rating on the stock in a report on Tuesday, May 13th. UBS Group assumed coverage on Matador Resources in a research report on Tuesday, April 22nd. They issued a "neutral" rating and a $47.00 price target on the stock. Royal Bank Of Canada dropped their target price on Matador Resources from $70.00 to $62.00 and set an "outperform" rating on the stock in a report on Friday, April 11th. Finally, Bank of America began coverage on Matador Resources in a research note on Monday, May 19th. They set a "buy" rating and a $56.00 target price for the company. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $69.06.
Check Out Our Latest Stock Report on Matador Resources
About Matador Resources
(
Free Report)
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.
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