Corigliano Investment Advisers LLC Makes New Investment in Matador Resources Company $MTDR

Key Points

• Corigliano Investment Advisers LLC acquired 126,200 shares of Matador Resources, valued at approximately $6.4 million, making it the fund's 15th biggest position.
• Matador Resources plans to distribute a quarterly dividend of $0.3125 per share, representing an annualized dividend of $1.25 with a yield of 2.6%.
• Analysts have mixed ratings on Matador Resources, with one "Strong Buy", thirteen "Buy", and two "Hold" ratings, resulting in a consensus rating of "Moderate Buy" and an average price target of $67.53.

Corigliano Investment Advisers LLC purchased a new position in Matador Resources Company (NYSE:MTDR - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 126,200 shares of the energy company's stock, valued at approximately $6,448,000. Matador Resources accounts for approximately 2.9% of Corigliano Investment Advisers LLC's investment portfolio, making the stock its 15th biggest holding. Corigliano Investment Advisers LLC owned approximately 0.10% of Matador Resources as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Concurrent Investment Advisors LLC boosted its position 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 acquiring an additional 244 shares during the last quarter. State of Wyoming increased its position in Matador Resources by 11.6% in the fourth quarter. State of Wyoming now owns 2,772 shares of the energy company's stock worth $156,000 after purchasing an additional 288 shares during the last quarter. State of Michigan Retirement System raised its stake in Matador Resources by 1.1% during the first quarter. State of Michigan Retirement System now owns 27,800 shares of the energy company's stock valued at $1,420,000 after purchasing an additional 300 shares in the last quarter. Louisiana State Employees Retirement System raised its stake in 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 valued at $1,660,000 after purchasing an additional 300 shares in the last quarter. Finally, Janney Montgomery Scott LLC lifted its position in Matador Resources by 3.2% during the first quarter. Janney Montgomery Scott LLC now owns 10,868 shares of the energy company's stock valued at $555,000 after purchasing an additional 340 shares during the last quarter. 91.98% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Joseph Wm Foran acquired 2,000 shares of the company's stock in a transaction that occurred on Tuesday, August 19th. The shares were bought at an average price of $46.25 per share, with a total value of $92,500.00. Following the completion of the purchase, the chief executive officer directly owned 8,606 shares in the company, valued at $398,027.50. This trade represents a 30.28% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 5.80% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on MTDR shares. Bank of America started coverage on shares of Matador Resources in a research report on Monday, May 19th. They set a "buy" rating and a $56.00 target price on the stock. Mizuho reduced their price objective on Matador Resources from $74.00 to $73.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 13th. Raymond James Financial upped their price objective on Matador Resources from $60.00 to $63.00 and gave the company an "outperform" rating in a research report on Thursday, July 31st. UBS Group dropped their target price on Matador Resources from $49.00 to $48.00 and set a "neutral" rating for the company in a report on Wednesday, August 20th. Finally, Morgan Stanley boosted their target price on Matador Resources from $60.00 to $62.00 and gave the company an "equal weight" rating in a research report on Monday, August 18th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $67.53.

Matador Resources Trading Down 1.9%

MTDR stock traded down $0.92 during midday trading on Monday, reaching $47.32. The company's stock had a trading volume of 1,415,422 shares, compared to its average volume of 1,689,692. Matador Resources Company has a 1 year low of $35.19 and a 1 year high of $64.04. The firm has a market capitalization of $5.89 billion, a price-to-earnings ratio of 6.93 and a beta of 1.49. The stock has a fifty day simple moving average of $49.39 and a two-hundred day simple moving average of $47.03. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.81 and a current ratio of 0.85.

Matador Resources (NYSE:MTDR - Get Free Report) last posted its quarterly earnings results on Tuesday, July 22nd. The energy company reported $1.53 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 the consensus estimate of $892.86 million. During the same quarter last year, the firm posted $2.05 EPS. The firm's revenue was up 8.2% compared to the same quarter last year. On average, equities research analysts predict that Matador Resources Company will post 8.53 EPS for the current year.

Matador Resources Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 5th. Stockholders of record on Friday, August 15th were paid 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 was Friday, August 15th. Matador Resources's payout ratio is currently 18.30%.

About Matador Resources

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.