Algert Global LLC Cuts Holdings in Matador Resources Company $MTDR

Key Points

• Algert Global LLC reduced its stake in Matador Resources by 84.5%, leaving it with 19,177 shares worth approximately $980,000 following the sale of 104,610 shares.
• In contrast, Vanguard Group Inc. increased its investment in Matador Resources by 7.6%, owning over 13.5 million shares valued at around $690 million.
• Matador Resources has announced a quarterly dividend of $0.3125 per share, translating to an annualized dividend of $1.25 and a dividend yield of 2.6%.

Algert Global LLC lessened its stake in Matador Resources Company (NYSE:MTDR - Free Report) by 84.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,177 shares of the energy company's stock after selling 104,610 shares during the period. Algert Global LLC's holdings in Matador Resources were worth $980,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of MTDR. Vanguard Group Inc. grew its stake in Matador Resources by 7.6% in the 1st quarter. Vanguard Group Inc. now owns 13,511,643 shares of the energy company's stock worth $690,310,000 after buying an additional 956,090 shares in the last quarter. LSV Asset Management grew its stake in Matador Resources by 50.9% in the 1st quarter. LSV Asset Management now owns 2,289,379 shares of the energy company's stock worth $116,964,000 after buying an additional 772,071 shares in the last quarter. Nuveen LLC purchased a new position in Matador Resources in the 1st quarter worth approximately $35,715,000. Balyasny Asset Management L.P. boosted its stake in shares of 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 purchasing an additional 370,388 shares in the last quarter. Finally, Freestone Grove Partners LP purchased a new stake in shares of Matador Resources in the 4th quarter valued at $19,298,000. Hedge funds and other institutional investors own 91.98% of the company's stock.

Insider Activity at Matador Resources

In related news, CEO Joseph Wm Foran bought 2,000 shares of the company's stock in a transaction dated Tuesday, August 19th. The stock was purchased at an average cost of $46.25 per share, with a total value of $92,500.00. Following the transaction, the chief executive officer owned 8,606 shares in the company, valued at approximately $398,027.50. This trade represents a 30.28% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 5.80% of the company's stock.

Matador Resources Trading Up 4.2%

Shares of MTDR opened at $48.2730 on Friday. The stock has a market capitalization of $6.01 billion, a P/E ratio of 7.07 and a beta of 1.49. The company has a quick ratio of 0.81, a current ratio of 0.85 and a debt-to-equity ratio of 0.57. The firm has a fifty day simple moving average of $49.40 and a two-hundred day simple moving average of $47.70. Matador Resources Company has a twelve month low of $35.19 and a twelve month high of $64.04.

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

Matador Resources Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 5th. Stockholders 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 2.6%. The ex-dividend date of this dividend is Friday, August 15th. Matador Resources's dividend payout ratio (DPR) is currently 18.30%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on MTDR. Bank of America began coverage on shares of Matador Resources in a research note on Monday, May 19th. They issued a "buy" rating and a $56.00 price objective for the company. TD Cowen raised shares of Matador Resources to a "strong-buy" rating in a research note on Monday, July 7th. Wells Fargo & Company cut their price objective on shares of Matador Resources from $80.00 to $74.00 and set an "overweight" rating for the company in a research note on Monday, June 16th. KeyCorp upped their price objective on shares of Matador Resources from $60.00 to $62.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. Finally, Morgan Stanley upped their price objective on shares of Matador Resources from $60.00 to $62.00 and gave the company an "equal weight" rating in a research note on Monday, August 18th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, Matador Resources currently has an average rating of "Moderate Buy" and a consensus target price of $67.60.

About Matador Resources

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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