Burns Matteson Capital Management LLC Makes New Investment in Matador Resources Company (NYSE:MTDR)

Burns Matteson Capital Management LLC bought a new position in shares of Matador Resources Company (NYSE:MTDR - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 9,286 shares of the energy company's stock, valued at approximately $474,000.

A number of other hedge funds have also recently added to or reduced their stakes in MTDR. Altshuler Shaham Ltd purchased a new stake in shares of Matador Resources in the 4th quarter valued at approximately $25,000. EverSource Wealth Advisors LLC raised its stake in shares of Matador Resources by 108.5% in the fourth quarter. EverSource Wealth Advisors LLC now owns 492 shares of the energy company's stock worth $28,000 after acquiring an additional 256 shares during the last quarter. Opal Wealth Advisors LLC bought a new stake in shares of Matador Resources during the first quarter worth approximately $28,000. Rakuten Securities Inc. increased its stake in Matador Resources by 9,090.9% in the first quarter. Rakuten Securities Inc. now owns 1,011 shares of the energy company's stock valued at $52,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Mpwm Advisory Solutions LLC bought a new stake in shares of Matador Resources during the fourth quarter worth $68,000. Institutional investors and hedge funds own 91.98% of the company's stock.

Analysts Set New Price Targets

MTDR has been the topic of a number of research reports. Wells Fargo & Company dropped their target price on shares of Matador Resources from $80.00 to $74.00 and set an "overweight" rating on the stock in a research report on Monday, June 16th. TD Cowen raised Matador Resources to a "strong-buy" rating in a research report on Monday, July 7th. Mizuho cut their price target on Matador Resources from $74.00 to $73.00 and set an "outperform" rating for the company in a research note on Tuesday, May 13th. Morgan Stanley lowered their price target on 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 lowered their target price on Matador Resources from $70.00 to $62.00 and set an "outperform" rating for the company in a report on Friday, April 11th. Two investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $69.13.

Matador Resources Price Performance

Shares of MTDR traded down $0.43 during trading hours on Friday, hitting $51.33. 1,933,233 shares of the company were exchanged, compared to its average volume of 1,567,874. The company has a market cap of $6.43 billion, a price-to-earnings ratio of 6.89 and a beta of 1.46. Matador Resources Company has a fifty-two week low of $35.19 and a fifty-two week high of $64.26. The company has a quick ratio of 0.76, a current ratio of 0.79 and a debt-to-equity ratio of 0.56. The firm's fifty day moving average is $47.85 and its 200 day moving average is $49.69.

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

Matador Resources Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 5th. Shareholders of record on Friday, August 15th will be given a dividend of $0.3125 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a $1.25 annualized dividend and a dividend yield of 2.44%. Matador Resources's dividend payout ratio (DPR) is presently 16.78%.

Matador Resources announced that its Board of Directors has approved a share repurchase program on Wednesday, April 23rd that authorizes the company to buyback $400.00 million in outstanding shares. This buyback authorization authorizes the energy company to reacquire up to 7.8% of its shares through open market purchases. Shares buyback programs are often an indication that the company's leadership believes its shares are undervalued.

Insider Buying and Selling

In other news, CEO Joseph Wm Foran acquired 5,000 shares of the firm's stock in a transaction dated Tuesday, April 29th. The stock was acquired at an average cost of $40.86 per share, with a total value of $204,300.00. Following the transaction, the chief executive officer owned 50,756 shares in the company, valued at approximately $2,073,890.16. This trade represents a 10.93% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP William Thomas Elsener purchased 750 shares of the stock in a transaction dated Thursday, May 1st. The stock was acquired at an average price of $40.10 per share, for a total transaction of $30,075.00. Following the completion of the transaction, the executive vice president directly owned 111,197 shares of the company's stock, valued at approximately $4,458,999.70. The trade was a 0.68% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased a total of 14,850 shares of company stock valued at $601,103 over the last ninety days. Company insiders own 5.80% of the company's stock.

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.