Blair William & Co. IL Invests $409,000 in Matador Resources Company (NYSE:MTDR)

Key Points

• Blair William & Co. IL has acquired a stake in Matador Resources Company, purchasing 8,004 shares valued at approximately $409,000 in the 1st quarter.
• CEO Joseph Wm Foran increased his ownership by 311.33% after buying 5,000 shares at an average price of $49.17.
• Matador Resources has a dividend yield of 2.7% and recently announced a quarterly dividend of $0.3125 per share, payable on September 5th.

Blair William & Co. IL bought a new stake in Matador Resources Company (NYSE:MTDR - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 8,004 shares of the energy company's stock, valued at approximately $409,000.

Several other hedge funds and other institutional investors have also made changes to their positions in MTDR. Altshuler Shaham Ltd purchased a new position in Matador Resources during the fourth quarter worth approximately $25,000. MCF Advisors LLC purchased a new position in Matador Resources during the first quarter worth approximately $26,000. Opal Wealth Advisors LLC purchased a new position in Matador Resources during the first quarter worth approximately $28,000. Rakuten Securities Inc. lifted its position in Matador Resources by 9,090.9% during the first quarter. Rakuten Securities Inc. now owns 1,011 shares of the energy company's stock worth $52,000 after buying an additional 1,000 shares in the last quarter. Finally, Mpwm Advisory Solutions LLC purchased a new position in Matador Resources during the fourth quarter worth approximately $68,000. Hedge funds and other institutional investors own 91.98% of the company's stock.

Insider Buying and Selling

In related news, CEO Joseph Wm Foran bought 5,000 shares of the stock in a transaction that occurred on Friday, August 1st. The stock was purchased at an average cost of $49.17 per share, with a total value of $245,850.00. Following the purchase, the chief executive officer directly owned 6,606 shares of the company's stock, valued at $324,817.02. This trade represents a 311.33% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. 5.80% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

MTDR has been the topic of a number of analyst reports. TD Cowen upgraded Matador Resources to a "strong-buy" rating in a research report on Monday, July 7th. UBS Group lifted their target price on Matador Resources from $46.00 to $48.00 and gave the company a "neutral" rating in a research report on Thursday, July 17th. Raymond James Financial lifted their target price on Matador Resources from $60.00 to $63.00 and gave the company an "outperform" rating in a research report on Thursday, July 31st. Mizuho reduced 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, KeyCorp lifted their target price on Matador Resources from $60.00 to $62.00 and gave the company an "overweight" rating in a research report on Thursday, July 24th. Two analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $68.00.

Matador Resources Trading Down 1.8%

Shares of NYSE MTDR traded down $0.86 during trading on Friday, reaching $46.90. The stock had a trading volume of 1,344,862 shares, compared to its average volume of 1,927,389. Matador Resources Company has a fifty-two week low of $35.19 and a fifty-two week high of $64.04. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.81 and a current ratio of 0.85. The business's 50-day moving average price is $49.63 and its 200-day moving average price is $48.03. The company has a market cap of $5.84 billion, a P/E ratio of 6.87 and a beta of 1.49.

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

Matador Resources declared that its board has approved 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 repurchase up to 7.8% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's board of directors believes its stock is undervalued.

Matador Resources Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 5th. Investors of record on Friday, August 15th will be paid a dividend of $0.3125 per share. This represents a $1.25 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend is Friday, August 15th. Matador Resources's payout ratio is presently 18.30%.

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.