CWA Asset Management Group LLC Takes Position in Matador Resources Company (NYSE:MTDR)

CWA Asset Management Group LLC bought a new stake in shares of Matador Resources Company (NYSE:MTDR - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 14,076 shares of the energy company's stock, valued at approximately $719,000.

Several other large investors have also recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of Matador Resources by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 12,555,553 shares of the energy company's stock valued at $706,375,000 after purchasing an additional 187,633 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in 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. Alliancebernstein L.P. boosted its holdings in Matador Resources by 25.9% during the 4th quarter. Alliancebernstein L.P. now owns 2,698,606 shares of the energy company's stock valued at $151,824,000 after acquiring an additional 555,245 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in Matador Resources by 18.4% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,669,957 shares of the energy company's stock valued at $93,952,000 after acquiring an additional 258,958 shares during the period. Finally, LSV Asset Management boosted its holdings in Matador Resources by 262.0% during the 4th quarter. LSV Asset Management now owns 1,517,308 shares of the energy company's stock valued at $85,364,000 after acquiring an additional 1,098,108 shares during the period. Institutional investors own 91.98% of the company's stock.

Analyst Upgrades and Downgrades

MTDR has been the subject of a number of recent analyst reports. UBS Group initiated coverage on Matador Resources in a report on Tuesday, April 22nd. They set a "neutral" rating and a $47.00 price objective for the company. KeyCorp dropped their price objective on Matador Resources from $72.00 to $60.00 and set an "overweight" rating for the company in a report on Monday, April 21st. Bank of America initiated coverage on Matador Resources in a report on Monday, May 19th. They set a "buy" rating and a $56.00 price objective for the company. Royal Bank Of Canada dropped their price objective on Matador Resources from $70.00 to $62.00 and set an "outperform" rating for the company in a report on Friday, April 11th. Finally, Mizuho lowered their target price on Matador Resources from $74.00 to $73.00 and set an "outperform" rating for the company in a report on Tuesday, May 13th. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $69.06.

Matador Resources Stock Performance

Shares of Matador Resources stock opened at $51.47 on Friday. The firm has a market capitalization of $6.44 billion, a P/E ratio of 6.91 and a beta of 1.46. 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 company has a 50 day moving average price of $44.06 and a 200 day moving average price of $50.50. Matador Resources Company has a 52 week low of $35.19 and a 52 week high of $66.89.

Matador Resources (NYSE:MTDR - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The energy company reported $1.99 EPS for the quarter, beating the consensus estimate of $1.74 by $0.25. The firm had revenue of $1.01 billion during the quarter, compared to analyst estimates of $980.87 million. Matador Resources had a net margin of 24.97% and a return on equity of 18.45%. Matador Resources's revenue was up 28.7% on a year-over-year basis. During the same period last year, the firm posted $1.71 EPS. Sell-side analysts expect that Matador Resources Company will post 8.53 EPS for the current year.

Matador Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 6th. Stockholders of record on Friday, May 9th were issued a $0.3125 dividend. This represents a $1.25 dividend on an annualized basis and a dividend yield of 2.43%. The ex-dividend date was Friday, May 9th. Matador Resources's dividend payout ratio 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 repurchase $400.00 million in outstanding shares. This repurchase authorization authorizes the energy company to buy up to 7.8% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company's leadership believes its shares are undervalued.

Insider Activity

In other news, CEO Joseph Wm Foran acquired 5,000 shares of the business's stock in a transaction dated Tuesday, April 29th. The shares were acquired at an average cost of $40.86 per share, with a total value of $204,300.00. Following the completion of the acquisition, the chief executive officer now owns 50,756 shares of the company's stock, valued at approximately $2,073,890.16. This trade represents a 10.93% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Christopher P. Calvert bought 1,500 shares of the stock in a transaction dated Thursday, May 1st. The stock was bought at an average price of $41.13 per share, for a total transaction of $61,695.00. Following the purchase, the chief operating officer now directly owns 36,500 shares of the company's stock, valued at approximately $1,501,245. The trade was a 4.29% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 14,850 shares of company stock valued at $601,103. Company insiders own 5.80% of the company's stock.

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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