Advisor Resource Council Acquires Shares of 18,278 Matador Resources Company (NYSE:MTDR)

Advisor Resource Council bought a new stake in Matador Resources Company (NYSE:MTDR - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 18,278 shares of the energy company's stock, valued at approximately $934,000.

A number of other hedge funds have also made changes to their positions in MTDR. Retirement Systems of Alabama increased its stake in shares of Matador Resources by 15.9% in the first quarter. Retirement Systems of Alabama now owns 326,134 shares of the energy company's stock worth $16,662,000 after acquiring an additional 44,641 shares during the last quarter. Boston Trust Walden Corp grew its stake in Matador Resources by 0.6% in the first quarter. Boston Trust Walden Corp now owns 1,075,611 shares of the energy company's stock valued at $54,953,000 after purchasing an additional 6,251 shares in the last quarter. State of Alaska Department of Revenue increased its position in Matador Resources by 2.8% in the 1st quarter. State of Alaska Department of Revenue now owns 13,598 shares of the energy company's stock worth $694,000 after purchasing an additional 365 shares during the last quarter. CWA Asset Management Group LLC purchased a new stake in shares of Matador Resources during the 1st quarter worth about $719,000. Finally, Rakuten Securities Inc. raised its stake in shares of Matador Resources by 9,090.9% during the 1st quarter. Rakuten Securities Inc. now owns 1,011 shares of the energy company's stock worth $52,000 after purchasing an additional 1,000 shares in the last quarter. 91.98% of the stock is owned by hedge funds and other institutional investors.

Matador Resources Stock Performance

Shares of NYSE:MTDR traded down $2.32 on Monday, hitting $49.05. 1,859,150 shares of the company were exchanged, compared to its average volume of 1,619,060. The company's 50 day moving average price is $44.06 and its two-hundred day moving average price is $50.40. The firm has a market capitalization of $6.14 billion, a price-to-earnings ratio of 6.58 and a beta of 1.46. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.76 and a current ratio of 0.79. Matador Resources Company has a one year low of $35.19 and a one year high of $66.89.

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

Matador Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 6th. Stockholders of record on Friday, May 9th were issued a dividend of $0.3125 per share. This represents a $1.25 annualized dividend and a dividend yield of 2.55%. The ex-dividend date was Friday, May 9th. Matador Resources's payout ratio is presently 16.78%.

Matador Resources declared that its board has approved a share buyback plan on Wednesday, April 23rd that permits the company to repurchase $400.00 million in outstanding shares. This repurchase authorization permits the energy company to purchase up to 7.8% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Bank of America started coverage on Matador Resources in a report on Monday, May 19th. They issued a "buy" rating and a $56.00 target price for the company. Mizuho reduced their price objective 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. KeyCorp decreased their price objective on shares of 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 dropped their target price 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, 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 report on Friday, April 11th. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $69.06.

Insider Activity

In related news, CEO Joseph Wm Foran acquired 5,000 shares of the stock in a transaction dated Tuesday, April 29th. The shares were bought at an average cost of $40.86 per share, for a total transaction of $204,300.00. Following the purchase, the chief executive officer now owns 50,756 shares in the company, valued at approximately $2,073,890.16. This trade represents a 10.93% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP William Thomas Elsener acquired 750 shares of the business's stock in a transaction on Thursday, May 1st. The shares were bought 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 of the company's stock, valued at approximately $4,458,999.70. This trade represents a 0.68% increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 14,850 shares of company stock worth $601,103. Company insiders own 5.80% of the company's stock.

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.