Matador Resources Company $MTDR Position Increased by Beck Mack & Oliver LLC

Key Points

• Beck Mack & Oliver LLC increased its holdings in Matador Resources by 6.8%, acquiring an additional 96,562 shares, bringing their total to approximately 1.5% of the portfolio valued at $77.4 million.
• Several major investors, including Vanguard Group and LSV Asset Management, have also raised their stakes in Matador, resulting in 91.98% of the stock being owned by institutional investors.
• Matador Resources recently announced a quarterly dividend of $0.3125, reflecting a 2.5% yield, with the ex-dividend date set for August 15th.

Beck Mack & Oliver LLC raised its stake in shares of Matador Resources Company (NYSE:MTDR - Free Report) by 6.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,514,928 shares of the energy company's stock after buying an additional 96,562 shares during the quarter. Matador Resources comprises 1.5% of Beck Mack & Oliver LLC's portfolio, making the stock its 23rd biggest position. Beck Mack & Oliver LLC owned 1.21% of Matador Resources worth $77,398,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the business. Quarry LP grew its position in shares of Matador Resources by 70.8% during the 1st quarter. Quarry LP now owns 859 shares of the energy company's stock worth $44,000 after buying an additional 356 shares during the period. Baird Financial Group Inc. grew its stake in shares of Matador Resources by 6.7% in the 1st quarter. Baird Financial Group Inc. now owns 113,927 shares of the energy company's stock worth $5,821,000 after buying an additional 7,111 shares during the last quarter. Panagora Asset Management Inc. boosted its holdings in shares of Matador Resources by 915.2% during the 1st quarter. Panagora Asset Management Inc. now owns 70,446 shares of the energy company's stock valued at $3,599,000 after acquiring an additional 63,507 shares during the last quarter. Vident Advisory LLC lifted its holdings in Matador Resources by 11.7% during the first quarter. Vident Advisory LLC now owns 16,311 shares of the energy company's stock valued at $833,000 after purchasing an additional 1,706 shares in the last quarter. Finally, Trexquant Investment LP bought a new stake in shares of Matador Resources in the 1st quarter valued at approximately $1,393,000. 91.98% of the stock is currently owned by institutional investors and hedge funds.

Matador Resources Stock Down 4.4%

Shares of Matador Resources stock traded down $2.27 on Wednesday, hitting $48.94. The company had a trading volume of 1,307,877 shares, compared to its average volume of 1,385,001. Matador Resources Company has a twelve month low of $35.19 and a twelve month high of $64.04. The firm has a market capitalization of $6.09 billion, a P/E ratio of 7.16 and a beta of 1.49. The stock has a 50-day moving average of $49.37 and a 200-day moving average of $47.28. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.85 and a quick ratio of 0.81.

Matador Resources (NYSE:MTDR - Get Free Report) last issued its earnings results on Tuesday, July 22nd. The energy company reported $1.53 EPS for the quarter, beating the consensus estimate of $1.29 by $0.24. The company 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 business's revenue for the quarter was up 8.2% compared to the same quarter last year. During the same period in the previous year, the company earned $2.05 EPS. Research analysts predict that Matador Resources Company will post 8.53 earnings per share for the current year.

Matador Resources Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 5th. Stockholders of record on Friday, August 15th will be issued a dividend of $0.3125 per share. The ex-dividend date is Friday, August 15th. This represents a $1.25 dividend on an annualized basis and a dividend yield of 2.6%. Matador Resources's dividend payout ratio is presently 18.30%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on MTDR. Raymond James Financial boosted their price target on Matador Resources from $60.00 to $63.00 and gave the company an "outperform" rating in a research note on Thursday, July 31st. UBS Group dropped their target price on Matador Resources from $49.00 to $48.00 and set a "neutral" rating on the stock in a report on Wednesday, August 20th. Wells Fargo & Company lowered their target price on Matador Resources from $80.00 to $74.00 and set an "overweight" rating on the stock in a research note on Monday, June 16th. Mizuho decreased their target price 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. Finally, Morgan Stanley raised their price objective on Matador Resources from $60.00 to $62.00 and gave the stock an "equal weight" rating in a report on Monday, August 18th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $67.53.

Insider Buying and Selling at Matador Resources

In other news, CEO Joseph Wm Foran bought 5,000 shares of the firm's stock in a transaction that occurred on Friday, August 1st. The shares were bought at an average cost of $49.17 per share, for a total transaction of $245,850.00. Following the completion of the transaction, the chief executive officer owned 6,606 shares of the company's stock, valued at approximately $324,817.02. This represents a 311.33% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 5.80% of the stock is currently owned by insiders.

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.