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

Several other hedge funds have also recently bought and sold shares of the stock. D.A. Davidson & CO. acquired a new position in shares of Matador Resources during the 1st quarter worth approximately $263,000. GAMMA Investing LLC increased its position in shares of Matador Resources by 42.8% during the 1st quarter. GAMMA Investing LLC now owns 2,698 shares of the energy company's stock worth $138,000 after purchasing an additional 809 shares during the last quarter. Teacher Retirement System of Texas acquired a new position in shares of Matador Resources during the 1st quarter worth approximately $885,000. Delphi Management Inc. MA lifted its position in shares of Matador Resources by 118.6% in the first quarter. Delphi Management Inc. MA now owns 23,302 shares of the energy company's stock valued at $1,190,000 after buying an additional 12,642 shares during the last quarter. Finally, OneDigital Investment Advisors LLC acquired a new position in shares of Matador Resources in the first quarter valued at approximately $200,000. 91.98% of the stock is currently owned by institutional investors and hedge funds.

Matador Resources Stock Up 1.1%

NYSE MTDR traded up $0.52 on Wednesday, reaching $47.97. The company had a trading volume of 1,242,981 shares, compared to its average volume of 1,997,339. The stock has a market capitalization of $5.97 billion, a P/E ratio of 7.02 and a beta of 1.49. The company's fifty day moving average is $49.55 and its 200 day moving average is $48.29. Matador Resources Company has a 52-week low of $35.19 and a 52-week high of $64.04. The company has a quick ratio of 0.81, a current ratio of 0.85 and a debt-to-equity ratio of 0.57.

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

Matador Resources declared that its board has authorized a stock buyback program on Wednesday, April 23rd that allows the company to repurchase $400.00 million in outstanding shares. This repurchase authorization allows the energy company to buy up to 7.8% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's management believes its shares are undervalued.

Matador Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 5th. Shareholders of record on Friday, August 15th will be given a $0.3125 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a $1.25 annualized dividend and a yield of 2.6%. Matador Resources's payout ratio is currently 18.30%.

Insiders Place Their Bets

In other Matador Resources news, CEO Joseph Wm Foran acquired 5,000 shares of the business's stock in a transaction on Friday, August 1st. The shares were acquired at an average price of $49.17 per share, with a total value of $245,850.00. Following the completion of the transaction, the chief executive officer owned 6,606 shares in the company, valued at approximately $324,817.02. This trade represents a 311.33% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 5.80% of the company's stock.

Wall Street Analysts Forecast Growth

MTDR has been the topic of several research reports. UBS Group upped 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. KeyCorp upped their price target on shares of Matador Resources from $60.00 to $62.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. Wells Fargo & Company lowered their price target on shares of Matador Resources from $80.00 to $74.00 and set an "overweight" rating for the company in a report on Monday, June 16th. Bank of America started coverage on shares of Matador Resources in a report on Monday, May 19th. They set a "buy" rating and a $56.00 price target on the stock. Finally, Raymond James Financial increased their price objective on shares of Matador Resources from $60.00 to $63.00 and gave the stock an "outperform" rating in a research report on Thursday, July 31st. Two analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Matador Resources currently has an average rating of "Moderate Buy" and an average target price of $68.00.

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.