CenterBook Partners LP Makes New Investment in Matador Resources Company (NYSE:MTDR)

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 stake in shares of Matador Resources Company (NYSE:MTDR - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The fund acquired 6,452 shares of the energy company's stock, valued at approximately $330,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Altshuler Shaham Ltd purchased a new stake in Matador Resources during the 4th quarter valued at approximately $25,000. MCF Advisors LLC purchased a new stake in Matador Resources in the 1st quarter worth $26,000. Opal Wealth Advisors LLC purchased a new position in shares of Matador Resources during the first quarter valued at about $28,000. Rakuten Securities Inc. increased its holdings in shares of Matador Resources by 9,090.9% in the first quarter. Rakuten Securities Inc. now owns 1,011 shares of the energy company's stock worth $52,000 after purchasing an additional 1,000 shares during the last quarter. Finally, Mpwm Advisory Solutions LLC purchased a new stake in shares of Matador Resources in the fourth quarter worth about $68,000. 91.98% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CEO Joseph Wm Foran bought 5,000 shares of the business's stock in a transaction on Friday, August 1st. The shares were bought at an average price of $49.17 per share, for a total transaction of $245,850.00. Following the completion of the purchase, the chief executive officer directly owned 6,606 shares of the company's stock, valued at approximately $324,817.02. This trade represents a 311.33% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.80% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Bank of America assumed coverage on Matador Resources in a research note on Monday, May 19th. They issued a "buy" rating and a $56.00 price objective on the stock. Raymond James Financial upped their target price on shares of Matador Resources from $60.00 to $63.00 and gave the company an "outperform" rating in a research report on Thursday, July 31st. Royal Bank Of Canada dropped their price target on Matador Resources from $70.00 to $62.00 and set an "outperform" rating for the company in a research report on Friday, April 11th. Stephens lowered their price objective on Matador Resources from $90.00 to $86.00 and set an "overweight" rating for the company in a research note on Tuesday, April 15th. Finally, Wells Fargo & Company cut their target price on Matador Resources from $80.00 to $74.00 and set an "overweight" rating on the stock in a research report on Monday, June 16th. Two analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $68.00.

Matador Resources Price Performance

Shares of MTDR stock opened at $46.07 on Friday. The stock has a market capitalization of $5.73 billion, a price-to-earnings ratio of 6.74 and a beta of 1.49. The company has a current ratio of 0.85, a quick ratio of 0.81 and a debt-to-equity ratio of 0.57. Matador Resources Company has a twelve month low of $35.19 and a twelve month high of $64.04. The stock has a fifty day simple moving average of $49.33 and a two-hundred day simple moving average of $48.71.

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

Matador Resources declared that its Board of Directors has authorized a stock buyback 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 purchase up to 7.8% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's board of directors believes its shares are undervalued.

Matador Resources Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 5th. Shareholders 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 yield of 2.7%. Matador Resources's dividend payout ratio is currently 18.30%.

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.

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