6,452 Shares in Matador Resources Company (NYSE:MTDR) Acquired by CenterBook Partners LP

Key Points

• CenterBook Partners LP has acquired a new stake in Matador Resources Company, purchasing 6,452 shares valued at approximately $330,000.
• CEO Joseph Wm Foran purchased 5,000 shares of Matador stock for $245,850, significantly increasing his ownership by 311.33%.
• Analysts have varied price targets for Matador Resources, with a consensus rating of "Moderate Buy" and an average target price of $68.00.

CenterBook Partners LP acquired a new position in Matador Resources Company (NYSE:MTDR - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 6,452 shares of the energy company's stock, valued at approximately $330,000.

A number of other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position 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 purchasing an additional 956,090 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Matador Resources by 0.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 5,444,723 shares of the energy company's stock valued at $306,313,000 after acquiring an additional 30,184 shares during the period. LSV Asset Management grew its position in shares of Matador Resources by 50.9% during the 1st quarter. LSV Asset Management now owns 2,289,379 shares of the energy company's stock valued at $116,964,000 after acquiring an additional 772,071 shares during the period. Beck Mack & Oliver LLC grew its position in shares of Matador Resources by 6.9% during the 4th quarter. Beck Mack & Oliver LLC now owns 1,418,366 shares of the energy company's stock valued at $79,797,000 after acquiring an additional 91,686 shares during the period. Finally, Northern Trust Corp grew its position in shares of Matador Resources by 22.9% during the 4th quarter. Northern Trust Corp now owns 1,166,077 shares of the energy company's stock valued at $65,603,000 after acquiring an additional 217,339 shares during the period. 91.98% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MTDR has been the subject of a number of recent research reports. Mizuho cut their price objective on shares of Matador Resources from $74.00 to $73.00 and set an "outperform" rating for the company in a research report on Tuesday, May 13th. KeyCorp upped their target price 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. Raymond James Financial upped their target price on shares of Matador Resources from $60.00 to $63.00 and gave the stock an "outperform" rating in a report on Thursday, July 31st. Wells Fargo & Company dropped their target price 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. Finally, Stephens dropped their target price on shares of Matador Resources from $90.00 to $86.00 and set an "overweight" rating for the company in a report on Tuesday, April 15th. Two analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Matador Resources has a consensus rating of "Moderate Buy" and a consensus target price of $68.00.

Insider Activity

In other Matador Resources news, CEO Joseph Wm Foran bought 5,000 shares of Matador Resources stock in a transaction that occurred on Friday, August 1st. The stock was purchased at an average price of $49.17 per share, with a total value of $245,850.00. Following the completion of the acquisition, the chief executive officer directly owned 6,606 shares in the company, valued at approximately $324,817.02. This trade represents a 311.33% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 5.80% of the stock is currently owned by company insiders.

Matador Resources Trading Up 2.1%

Shares of NYSE:MTDR traded up $0.96 during trading on Tuesday, reaching $47.19. 490,400 shares of the company were exchanged, compared to its average volume of 1,716,830. The firm has a market capitalization of $5.87 billion, a PE ratio of 6.91 and a beta of 1.49. The business's fifty day simple moving average is $49.46 and its 200-day simple moving average is $48.29. 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 Company has a 12-month low of $35.19 and a 12-month high of $64.04.

Matador Resources (NYSE:MTDR - Get Free Report) last announced its 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 company had revenue of $895.31 million during the quarter, compared to the consensus estimate of $892.86 million. Matador Resources had a net margin of 22.57% and a return on equity of 16.53%. Matador Resources's revenue was up 8.2% compared to the same quarter last year. During the same period last year, the firm earned $2.05 earnings per share. On average, research analysts anticipate that Matador Resources Company will post 8.53 EPS for the current year.

Matador Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 5th. Investors of record on Friday, August 15th will be issued a dividend of $0.3125 per share. 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 18.30%.

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

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.