Charles Schwab Investment Management Inc. Reduces Position in Matador Resources Company (NYSE:MTDR)

Charles Schwab Investment Management Inc. reduced its stake in shares of Matador Resources Company (NYSE:MTDR - Free Report) by 3.6% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,438,065 shares of the energy company's stock after selling 53,505 shares during the period. Charles Schwab Investment Management Inc. owned approximately 1.15% of Matador Resources worth $73,471,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in MTDR. Concurrent Investment Advisors LLC lifted its holdings in shares of Matador Resources by 0.4% during the 1st quarter. Concurrent Investment Advisors LLC now owns 55,482 shares of the energy company's stock valued at $2,835,000 after buying an additional 244 shares during the last quarter. State of Wyoming increased its position in shares of Matador Resources by 11.6% during the fourth quarter. State of Wyoming now owns 2,772 shares of the energy company's stock valued at $156,000 after purchasing an additional 288 shares during the period. State of Michigan Retirement System boosted its stake in Matador Resources by 1.1% in the 1st quarter. State of Michigan Retirement System now owns 27,800 shares of the energy company's stock valued at $1,420,000 after buying an additional 300 shares in the last quarter. Louisiana State Employees Retirement System grew its holdings in shares of Matador Resources by 0.9% during the first quarter. Louisiana State Employees Retirement System now owns 32,500 shares of the energy company's stock worth $1,660,000 after purchasing an additional 300 shares during the last quarter. Finally, Janney Montgomery Scott LLC grew its holdings in shares of Matador Resources by 3.2% during the first quarter. Janney Montgomery Scott LLC now owns 10,868 shares of the energy company's stock worth $555,000 after purchasing an additional 340 shares during the last quarter. 91.98% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Joseph Wm Foran bought 5,000 shares of the company's stock in a transaction that occurred on Friday, August 1st. The stock was bought at an average cost of $49.17 per share, for a total transaction of $245,850.00. Following the acquisition, the chief executive officer directly owned 6,606 shares of the company's stock, valued at $324,817.02. The trade was a 311.33% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 5.80% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on MTDR. Mizuho lowered their price target on Matador Resources from $74.00 to $73.00 and set an "outperform" rating for the company in a report on Tuesday, May 13th. Bank of America began coverage on Matador Resources in a report on Monday, May 19th. They issued a "buy" rating and a $56.00 price target for the company. TD Cowen upgraded Matador Resources to a "strong-buy" rating in a report on Monday, July 7th. UBS Group increased their price objective on Matador Resources from $46.00 to $48.00 and gave the stock a "neutral" rating in a report on Thursday, July 17th. Finally, KeyCorp increased their price objective on Matador Resources from $60.00 to $62.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. Two analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Matador Resources has a consensus rating of "Moderate Buy" and an average price target of $68.00.

Matador Resources Price Performance

MTDR traded down $0.86 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. The firm has a 50-day moving average of $49.63 and a 200-day moving average of $48.03. 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 market capitalization of $5.84 billion, a price-to-earnings ratio of 6.87 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 (NYSE:MTDR - Get Free Report) last announced its earnings results on Tuesday, July 22nd. The energy company reported $1.53 EPS for the quarter, beating 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 company had revenue of $895.31 million for the quarter, compared to analyst estimates of $892.86 million. During the same quarter in the prior year, the company earned $2.05 EPS. The firm's revenue for the quarter was up 8.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Matador Resources Company will post 8.53 EPS for the current year.

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

Matador Resources Dividend Announcement

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

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.